30/04/2026 05:50 AST
Emirates Stallions Group, a subsidiary of IHC and a leading UAE conglomerate operating across construction and real estate sectors, has delivered double-digit growth across key financial indicators with a revenue of AED370 million ($100 million), marking an 11% increase compared to AED333 million ($90.6 million) last year.
Announcing the results for the three-month period, Emirates Stallions Group said its gross profit rose 32% to AED130.5 million, while net profit increased 29% to AED68.6 million.
Operational profit before tax recorded a 32% rise to AED79 million, reflecting continued efficiency gains and strong execution across the Group's core verticals.
The Group maintained a strong financial position, with total assets increasing to AED4.8 billion as of March 31, 2026, up 10% compared to year-end 2025. Total equity rose to AED3.1 billion, while book value per share reached AED12.4, highlighting ESG's continued focus on value creation.
The performance reflects ESG's diversified operating model and continued execution across its core businesses, with solid contributions from real estate development and manpower and accommodation services.
ESG Chairman Matar Suhail Al Yabhouni Al Dhaheri said: "ESG's strong performance in the first quarter of 2026 builds on the momentum achieved in 2025 and reflects the strength of our diversified platform. Our ability to deliver consistent growth across key business lines underscores our disciplined approach to execution and our focus on long-term value creation."
During the period, ESG continued to advance its real estate platform through Royal Development Holding. The Group's Rotana Residences development on Al Reem Island (valued at AED1 billion) witnessed a full sell-out ahead of launch, underscoring strong market demand for branded residential offerings and reinforcing the attractiveness of ESG's real estate platform.
In parallel, ESG's manpower and accommodation vertical, Sawaeed Holding, recorded strong growth across key financial indicators, reflecting continued positive performance and operational strength during the period.
On the solid results, CEO Kayed Ali Khorma said: "Our Q1 results demonstrate a solid start to the year, supported by continued revenue growth and improved profitability. The performance of our real estate platform, alongside the strong contribution from Sawaeed Holding, highlights the effectiveness of our strategy and our ability to capture demand across our core sectors."
"We will continue to build on this momentum as we advance our development activities and operational priorities," he noted.
Building on its strong full-year 2025 performance, ESG continues to leverage its integrated platform to drive growth, enhance operational efficiencies, and capitalise on opportunities across its core sectors, reinforcing its position as a diversified growth platform, he added.
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