Vincom Centre Landmark 81, the tallest building in Vietnam, developed by Vinhomes Joint Stock Company (VHM). (Photo courtesy of Vinhomes Joint Stock Company ) Hanoi (VNS/VNA) - Prominent real estate companies revealed varying levels of success within the market, as demonstrated by different revenue and profit figures in the third quarter.
Vinhomes Joint Stock Company (VHM) stands as the top player in the real estate market in terms of revenue and profit. During the third quarter, Vinhomes achieved a total net revenue of 32.7 trillion VND, marking an impressive 84% increase compared to the same period in 2022.
For the first nine months of the year, Vinhomes' total net revenue reached 94.6 trillion VND, with a consolidated profit after tax of 32.4 trillion VND. This represents 62% growth compared to the same period of 2022 and surpasses the annual plan for 2023.
As of September 30, Vinhomes held cash and cash equivalents amounting to 2.91 trillion VND. Within the third quarter alone, Vinhomes' cash equivalents amounted to 427 billion VND. Vinhomes clarified that cash equivalents include investments and deposits in commercial banks ranging from one to three months, with interest rates ranging from 3.3% to 6.2%.
The second-largest real estate enterprise, Novaland Group (NVL), has returned to profitability after experiencing losses in the first two quarters of the year. In the third quarter, Novaland achieved a revenue of over 1.07 trillion VND and a profit after tax of 137 billion VND.
In the first nine months, Novaland's total consolidated revenue, including sales and service provision fees, reached 2.74 trillion VND, despite recording a loss of nearly 960 trillion VND.
As of September 30, Novaland held cash and cash equivalents amounting to 3.43 trillion VND, which represents a 60% decrease compared to the end of the previous year.
According to Novaland, cash equivalents comprise bank deposits with original terms of one to three months and interest rates ranging from 2.5% to 6% per annum.
Quoc Cuong Gia Lai Joint Stock Company (QCG) reported a revenue of nearly 67 billion VND, representing an 87% decline compared to the same period. The company's revenue structure indicates that it does not generate any revenue from real estate business activities. QCG's revenue solely comes from two segments: selling goods (over 18 billion VND) and selling electricity (nearly 49 billion VND).
On the other hand, LDG Investment Joint Stock Company (LDG) experienced a net loss of 65 billion VND in the third quarter, marking the fourth consecutive quarter of losses for the company. When combined with losses from the first and second quarters, LDG's net loss currently exceeds 209 billion VND, while it had a profit of over 8 billion VND during the same period last year.
As of September 30, LDG possessed total assets of nearly 2.09 trillion VND, reflecting a 14% decrease compared to the beginning of the year. However, the amount of cash and cash equivalents reached 47 billion VND, which is 15 times higher than the beginning of the year, with most of it being in the form of bank deposits.
Phat Dat Real Estate Development Joint Stock Company (PDR) recorded cash and cash equivalents of nearly 53 billion VND in the third quarter, indicating an 80 % decrease compared to the end of the previous year.
As of September 30, Dat Xanh Group Joint Stock Company (DXG) reported cash and cash equivalents amounting to 644 billion VND, representing an almost 42% increase compared to the end of the second quarter. Among this amount, cash equivalents account for nearly 243 billion VND, deposited with an original term of no more than three months in banks, earning interest rates ranging some 3% per annum. The remaining 401 billion VND consists of cash.
Nam Long Investment Joint Stock Company (NLG) held cash and cash equivalents of 2.67 trillion VND at the end of the third quarter, representing a 15.3% increase compared to 30 June. Within this amount, NLG recorded 929 billion VND in cash and 1.75 trillion VND in cash equivalents./.
Vinhomes Joint Stock Company (VHM) stands as the top player in the real estate market in terms of revenue and profit. During the third quarter, Vinhomes achieved a total net revenue of 32.7 trillion VND, marking an impressive 84% increase compared to the same period in 2022.
For the first nine months of the year, Vinhomes' total net revenue reached 94.6 trillion VND, with a consolidated profit after tax of 32.4 trillion VND. This represents 62% growth compared to the same period of 2022 and surpasses the annual plan for 2023.
As of September 30, Vinhomes held cash and cash equivalents amounting to 2.91 trillion VND. Within the third quarter alone, Vinhomes' cash equivalents amounted to 427 billion VND. Vinhomes clarified that cash equivalents include investments and deposits in commercial banks ranging from one to three months, with interest rates ranging from 3.3% to 6.2%.
The second-largest real estate enterprise, Novaland Group (NVL), has returned to profitability after experiencing losses in the first two quarters of the year. In the third quarter, Novaland achieved a revenue of over 1.07 trillion VND and a profit after tax of 137 billion VND.
In the first nine months, Novaland's total consolidated revenue, including sales and service provision fees, reached 2.74 trillion VND, despite recording a loss of nearly 960 trillion VND.
As of September 30, Novaland held cash and cash equivalents amounting to 3.43 trillion VND, which represents a 60% decrease compared to the end of the previous year.
According to Novaland, cash equivalents comprise bank deposits with original terms of one to three months and interest rates ranging from 2.5% to 6% per annum.
Quoc Cuong Gia Lai Joint Stock Company (QCG) reported a revenue of nearly 67 billion VND, representing an 87% decline compared to the same period. The company's revenue structure indicates that it does not generate any revenue from real estate business activities. QCG's revenue solely comes from two segments: selling goods (over 18 billion VND) and selling electricity (nearly 49 billion VND).
On the other hand, LDG Investment Joint Stock Company (LDG) experienced a net loss of 65 billion VND in the third quarter, marking the fourth consecutive quarter of losses for the company. When combined with losses from the first and second quarters, LDG's net loss currently exceeds 209 billion VND, while it had a profit of over 8 billion VND during the same period last year.
As of September 30, LDG possessed total assets of nearly 2.09 trillion VND, reflecting a 14% decrease compared to the beginning of the year. However, the amount of cash and cash equivalents reached 47 billion VND, which is 15 times higher than the beginning of the year, with most of it being in the form of bank deposits.
Phat Dat Real Estate Development Joint Stock Company (PDR) recorded cash and cash equivalents of nearly 53 billion VND in the third quarter, indicating an 80 % decrease compared to the end of the previous year.
As of September 30, Dat Xanh Group Joint Stock Company (DXG) reported cash and cash equivalents amounting to 644 billion VND, representing an almost 42% increase compared to the end of the second quarter. Among this amount, cash equivalents account for nearly 243 billion VND, deposited with an original term of no more than three months in banks, earning interest rates ranging some 3% per annum. The remaining 401 billion VND consists of cash.
Nam Long Investment Joint Stock Company (NLG) held cash and cash equivalents of 2.67 trillion VND at the end of the third quarter, representing a 15.3% increase compared to 30 June. Within this amount, NLG recorded 929 billion VND in cash and 1.75 trillion VND in cash equivalents./.
VNA
