MANAGEMENT DISCUSSION & ANALYSIS REVENUE BREAKDOWN BY SEGMENTS Segment FY2023 (RM’000) FY2022 (RM’000) Difference (%) Bandar Sri Sendayan 171,350 178,487 (4.0) Bayu Sutera 238,393 30,878 672.0 Ara Sendayan 28,647 126,807 (77.4) Tiara Sendayan 212,219 134,025 58.3 Irama Sendayan 16,591 - N/A Laman Sendayan 138,594 175,432 (21.0) Sendayan Tech Valley 32,215 101,849 (68.4) TOTAL REVENUE FROM SENDAYAN DEVELOPMENTS 838,009 747,478 12.1 Bandar Seri Impian 69,924 45,501 53.7 Chambers Kuala Lumpur 87,964 50,416 74.5 M. Greenvale 74,209 - N/A Other Developments 2,615 18,255 (85.7) TOTAL PROPERTY DEVELOPMENT REVENUE 1,072,721 861,650 24.5 Education 12,347 11,038 11.9 Hospitality 25,369 17,323 46.4 Others 2,621 2,385 9.9 TOTAL GROUP REVENUE 1,113,058 892,396 24.7 PROPERTY SALES Property sales in FY2023 stood at RM1.20 billion. Sales were driven by strong demand from all property segments, notably for affordable premium homes located at Matrix’s Sendayan Developments and BSI townships. The Group’s flagship Sendayan Developments in particular, has been enjoying the spill over demand from homebuyers outpriced from the Klang Valley property market. Average take-up rate across all property projects of the Groups was at a commendable 84.0% as at 31 March 2023. Bayu Sutera - Elonia INTEGRATED ANNUAL REPORT 2023 MATRIX CONCEPTS HOLDINGS BERHAD 44 KEY MESSAGES
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