Residences Dar Saada stock: Residences Dar Saada reports 29 percent growth for RDS stock

Published on 10/22/2026 at 05:36 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half revenue reached MAD 209.0 million, up 29.00 percent year over year. For RDS stock, presales reached 16,168 units versus 1,132.

First-half results and delivery math

On September 30, 2026, first-half revenue reached MAD 209.0 million, up 29.00 percent year over year.
Presales reached 16,168 units versus 1,132 in the first half of 2025.
Debt stood at MAD 1.92 billion at June 30, 2026, including IFRS 16 leases.

RDS, MA0000012379, Illustration mit AI erstellt.

Residences Dar Saada (ISIN MA0000012379) reported first-half 2026 revenue of MAD 209.0 million, up 29.00 percent from MAD 162.0 million a year earlier. The Moroccan developer also lifted consolidated net profit to MAD 20.0 million from MAD 6.0 million, according to Jihat on September 30, 2026.

Revenue grows as presales surge

The stronger sales line was accompanied by a sharp expansion in presales. Residences Dar Saada recorded 16,168 units in the first half of 2026, compared with 1,132 units in the first half of 2025, while two Marrakech agreements covered 15,423 homes.

The agreements secure MAD 3.8 billion of future revenue, with 7,650 units assigned to Residences Dar Saada and 7,773 units assigned to affiliated RDS X. The company also reported MAD 7.5 billion of presales scheduled for delivery over the next three fiscal years, according to Dirham Digest on September 30, 2026.

What does the backlog mean for earnings?

The figures point to a timing gap between commercial commitments and recognized revenue. Residences Dar Saada had completed 6,000 Casablanca homes, equal to 60.00 percent of the assigned program, while 14,500 units were in production. First deliveries from the remaining Casablanca program were expected in the second half of 2026.

Debt shapes the next reporting phase

Profit growth also reflected a smaller financial deficit rather than stronger operating profit. Operating profit fell to MAD 24.0 million from MAD 35.0 million in the first half of 2025, while net debt including IFRS 16 leases reached MAD 1.92 billion at June 30, 2026, versus MAD 1.78 billion at the end of 2025. Net cash flow was negative MAD 66.2 million for the first half, according to Dirham Digest.

Stock context

Residences Dar Saada closed at MAD 170.00 on the Casablanca Stock Exchange on October 21, 2026, according to Investing.com. For investors, the next test is whether deliveries convert the large presales pipeline into operating profit and cash generation.