Phat Dat Real Estate Development Joint Stock Company (PDR) adjusted its revenue and profit plan for 2024 with revenue decreasing by VND 1,200 billion and profit decreasing by VND 367 billion.
At a recent investor meeting, Mr. Nguyen Van Dat (middle) said that Phat Dat will open for sale 6 projects this year - Photo: P.D.
The Board of Directors of Phat Dat Real Estate Development Joint Stock Company (PDR) has just approved the policy of adjusting the revenue and profit plan for 2024. Accordingly, a part of the revenue and profit arising from phase 1 of the Bac Ha Thanh residential area combined with urban renovation project will be recorded in 2025.
Revenue for the whole year of 2024 was adjusted down by VND 1,200 billion, from VND 2,423 billion to VND 1,224 billion. Accordingly, profit after tax was also adjusted down, from VND 522 billion to VND 155 billion, corresponding to a decrease of VND 367 billion.
According to Phat Dat, the adjustment helps businesses maintain financial stability while optimizing benefits for shareholders and stakeholders.
Phat Dat representative said that besides ensuring financial plan, Phat Dat continues to implement large-scale real estate projects to meet market demand.
Specifically, this year, Phat Dat continues to promote the development of a series of projects including Thuan An 1 and 2 (Binh Duong), Quy Nhon Iconic (Binh Dinh), Q1 Tower (Quy Nhon), Serenity Phuoc Hai (Ba Ria - Vung Tau), resort complex in Con Dao (Ba Ria - Vung Tau) and commercial service complex Nhu Nguyet (Da Nang).
Phat Dat said that in the first and second quarters of 2025, it will record additional revenue from sales activities at the projects.
Sharing at a recent investor meeting, Mr. Nguyen Van Dat - Chairman of Phat Dat Board of Directors - said that the real estate market is starting to show positive signs and will change more clearly in the second half of this year. According to Mr. Dat, the two biggest supports for the market at this time are the Government's drastic efforts to remove difficulties for businesses and low-interest home loan packages creating positive psychology for people.
Regarding this year's business plan, Mr. Dat said that this year is much better than last year because the company has 6 projects that will be opened for sale. The total revenue of these projects is about 40,000 - 50,000 billion VND and will be recorded gradually in the coming years.
This company plans to M&A 1-2 more large projects in the second quarter and the company's upcoming strategy is to develop land funds in Binh Duong, Dong Nai and Ba Ria - Vung Tau to carry out projects in the mid-range segment. Particularly in Ho Chi Minh City, Mr. Dat emphasized that he will only do it if there is an attractive profit because there is not much land fund left here.
'New player' in the real estate marketSource: https://tuoitre.vn/dia-oc-phat-dat-nan-dong-ket-qua-kinh-doanh-2024-ca-doanh-thu-va-loi-nhuan-sut-giam-20250311215738525.htm
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