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 companiesrevealed varying levels of success within the market, as demonstrated bydifferent revenue and profit figures in the third quarter.
Vinhomes Joint Stock Company (VHM) stands as the top player in thereal estate market in terms of revenue and profit. During the third quarter,Vinhomes achieved a total net revenue of 32.7 trillion VND, marking animpressive 84% increase compared to the same period in 2022.
For the first nine months of the year, Vinhomes' total net revenuereached 94.6 trillion VND, with a consolidated profit after tax of 32.4trillion VND. This represents 62% growth compared to the same period of 2022and surpasses the annual plan for 2023.
As of September 30, Vinhomes held cash and cash equivalentsamounting to 2.91 trillion VND. Within the third quarter alone, Vinhomes' cashequivalents amounted to 427 billion VND. Vinhomes clarified that cashequivalents include investments and deposits in commercial banks ranging fromone 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 twoquarters of the year. In the third quarter, Novaland achieved a revenue of over1.07 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, despiterecording a loss of nearly 960 trillion VND.
As of September 30, Novaland held cash and cash equivalentsamounting to 3.43 trillion VND, which represents a 60% decrease compared to theend of the previous year.
According to Novaland, cash equivalents comprise bank depositswith 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 ofnearly 67 billion VND, representing an 87% decline compared to the same period.The company's revenue structure indicates that it does not generate any revenuefrom real estate business activities. QCG's revenue solely comes from twosegments: selling goods (over 18 billion VND) and selling electricity (nearly 49billion VND).
On the other hand, LDG Investment Joint Stock Company (LDG) experienceda net loss of 65 billion VND in the third quarter, marking the fourthconsecutive quarter of losses for the company. When combined with losses fromthe 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 2.09trillion VND, reflecting a 14% decrease compared to the beginning of the year.However, the amount of cash and cash equivalents reached 47 billion VND, whichis 15 times higher than the beginning of the year, with most of it being in theform of bank deposits.
Phat Dat Real Estate Development Joint Stock Company (PDR)recorded cash and cash equivalents of nearly 53 billion VND in the thirdquarter, 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, representingan almost 42% increase compared to the end of the second quarter. Among thisamount, cash equivalents account for nearly 243 billion VND, deposited with anoriginal term of no more than three months in banks, earning interest ratesranging some 3% per annum. The remaining 401 billion VND consists of cash.
Nam Long Investment Joint Stock Company (NLG) held cash and cashequivalents of 2.67 trillion VND at the end of the third quarter, representinga 15.3% increase compared to 30 June. Within this amount, NLG recorded 929billion VND in cash and 1.75 trillion VND in cash equivalents./.
Vinhomes Joint Stock Company (VHM) stands as the top player in thereal estate market in terms of revenue and profit. During the third quarter,Vinhomes achieved a total net revenue of 32.7 trillion VND, marking animpressive 84% increase compared to the same period in 2022.
For the first nine months of the year, Vinhomes' total net revenuereached 94.6 trillion VND, with a consolidated profit after tax of 32.4trillion VND. This represents 62% growth compared to the same period of 2022and surpasses the annual plan for 2023.
As of September 30, Vinhomes held cash and cash equivalentsamounting to 2.91 trillion VND. Within the third quarter alone, Vinhomes' cashequivalents amounted to 427 billion VND. Vinhomes clarified that cashequivalents include investments and deposits in commercial banks ranging fromone 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 twoquarters of the year. In the third quarter, Novaland achieved a revenue of over1.07 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, despiterecording a loss of nearly 960 trillion VND.
As of September 30, Novaland held cash and cash equivalentsamounting to 3.43 trillion VND, which represents a 60% decrease compared to theend of the previous year.
According to Novaland, cash equivalents comprise bank depositswith 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 ofnearly 67 billion VND, representing an 87% decline compared to the same period.The company's revenue structure indicates that it does not generate any revenuefrom real estate business activities. QCG's revenue solely comes from twosegments: selling goods (over 18 billion VND) and selling electricity (nearly 49billion VND).
On the other hand, LDG Investment Joint Stock Company (LDG) experienceda net loss of 65 billion VND in the third quarter, marking the fourthconsecutive quarter of losses for the company. When combined with losses fromthe 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 2.09trillion VND, reflecting a 14% decrease compared to the beginning of the year.However, the amount of cash and cash equivalents reached 47 billion VND, whichis 15 times higher than the beginning of the year, with most of it being in theform of bank deposits.
Phat Dat Real Estate Development Joint Stock Company (PDR)recorded cash and cash equivalents of nearly 53 billion VND in the thirdquarter, 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, representingan almost 42% increase compared to the end of the second quarter. Among thisamount, cash equivalents account for nearly 243 billion VND, deposited with anoriginal term of no more than three months in banks, earning interest ratesranging some 3% per annum. The remaining 401 billion VND consists of cash.
Nam Long Investment Joint Stock Company (NLG) held cash and cashequivalents of 2.67 trillion VND at the end of the third quarter, representinga 15.3% increase compared to 30 June. Within this amount, NLG recorded 929billion VND in cash and 1.75 trillion VND in cash equivalents./.
VNA
