How do real estate giants in Ho Chi Minh City pay their employees?

Khang Dien House Investment and Trading Joint Stock Company (stock code: KDH), headquartered in Ho Chi Minh City, recently announced its financial report for the second quarter of 2024, recording net revenue of VND 644 billion, up 9.8% over the same period and financial revenue increased by 36%, to VND 10.4 billion.

After deducting expenses, the company earned a net profit of VND280 billion, up 9.3% over the same period last year. In the first 6 months of the year, Khang Dien recorded net revenue and after-tax profit of VND978 billion and VND344 billion, down 2.8% and 24.7% over the same period, respectively.

As of the end of the second quarter of 2024, Nha Khang Dien's cash and cash equivalents portfolio was worth VND 2,561 billion (down more than VND 1,000 billion compared to the beginning of the year), of which bank deposits with original terms of no more than 3 months accounted for 79%, at VND 2,206 billion.

By the end of June 2024, this enterprise had 255 employees, 3 fewer than at the end of 2023; total employee costs were VND55.6 billion. Thus, on average, each employee of this real estate enterprise received about VND36 million/month, nearly VND8 million higher than the same period.

Khang Dien is the real estate company that pays the highest employee salaries in the first 6 months of the year.

Next, Phat Dat Real Estate Development Joint Stock Company (stock code: PDR) - one of the real estate developers in Ho Chi Minh City, in the second quarter of 2024 recorded salary expenses at VND 27.2 billion, VND 2.8 billion higher than the same period last year.

The reason may be that the number of Phat Dat employees by the end of June 2024 was 21 people higher than at the end of 2023, reaching 278 people. Temporarily calculating with this number of employees in the second quarter, it is estimated that each person's salary received is about 32.6 million VND/month, nearly double the same period.

Regarding business results in the second quarter of 2024, the company's net revenue reached VND8.2 billion, three times higher than the same period last year. However, thanks to financial revenue, Phat Dat reported a profit after tax of VND49.7 billion, down 82% compared to the same period last year.

In the first 6 months of the year, Phat Dat recorded net revenue of VND 170 billion, down 12% year-on-year and profit after tax down 66% year-on-year, reaching only VND 102.4 billion, completing 12% of the 2024 profit plan.

Dat Xanh Group Corporation (stock code: DXG) as of the end of June 2024 had about 2,443 employees, a decrease of 25 people compared to the end of 2023 and salary expenses of 157.9 billion VND, a slight increase over the same period. It is tentatively estimated that Dat Xanh employees receive an average salary of nearly 10.8 million VND/month, a slight increase over the same period.

Accumulated in the first half of 2024, Dat Xanh's revenue and after-tax profit doubled and increased 4.3 times over the same period, respectively, at VND 2,191 billion and VND 171 billion.

By the end of the second quarter of 2024, the value of this enterprise's cash and cash equivalents portfolio compared to the end of 2023 increased sharply by 287%, from VND 276 billion to VND 1,069 billion.

Source: https://nld.com.vn/cac-dai-gia-bat-dong-san-tp-hcm-tra-luong-nhan-vien-the-nao-196240805080945797.htm