Real estate companies listed on the Vietnamese stock exchange have packed up their bags to enter the year of the Snake with business results like a colorful picture: some made profits, some lost, some assets evaporated but others increased.
Real estate businesses enter the year of the Snake with the expectation of recovering business, developing old projects and launching new projects - Photo: NGOC HIEN
Novaland enters the new year with assets of 238,181 billion VND
The luggage entering 2025 of the "giant" of the Vietnamese real estate industry Novaland (stock code NVL) is a recorded asset of more than VND 238,181 billion. Compared to the end of 2023, Novaland's assets decreased by about VND 3,304 billion in 2024, equivalent to a decrease of 1.37%.
By the end of 2024, Novaland's total consolidated revenue from sales and service provision will reach VND 9,073 billion (excluding revenue from financial activities).
Of which, net revenue from sales reached nearly VND 8,356 billion, up 104% over the same period last year, net revenue from service provision reached VND 717 billion.
The accumulated consolidated profit after tax for the 12 months recorded a loss of VND 4,351 billion, mostly due to provisions for the 2024 semi-annual reporting period according to the auditor's opinion.
This is also the first time Novaland has announced a loss of thousands of billions for the entire fiscal year since its listing. To date, Novaland has 85 subsidiaries and 7 affiliated companies.
Speaking with Tuoi Tre Online , a representative of Novaland said that this enterprise has been making efforts every day to overcome the difficult period with practical measures.
Accordingly, Novaland closely follows the comprehensive restructuring plan, focuses on removing legal obstacles of projects, concentrates all resources to implement projects, in order to restore business operations, thereby creating a basis to fulfill obligations to shareholders, bondholders, customers, etc.
Phat Dat, Nam Long increase assets by thousands of billions
Phat Dat Real Estate (stock code PDR) has assets increasing gradually from more than VND 21,067 billion to VND 24,116 billion, equivalent to an increase of more than VND 3,048 billion (14.47%) compared to the previous year.
Closing 2024, Phat Dat's gross profit reached more than VND 861 billion, an increase compared to VND 543 billion last year, leading to a profit after tax of nearly VND 523 billion for the whole year of 2024. Regarding payables, this enterprise has a total payable debt of more than VND 12,692 billion, an increase compared to VND 11,488 billion over the same period last year, of which 2/3 is short-term debt.
Speaking with Tuoi Tre Online , a representative of Phat Dat said that in the first half of 2025, the Quy Nhon Iconic project (commercial name of Bac Ha Thanh urban area) continues to be a bright spot for the business activities of this enterprise with nearly 800 products from the next phases preparing to be launched on the market, bringing stable cash flow.
Nam Long Real Estate (stock code NLG) also increased its assets to VND30,308 billion last year, an increase of nearly VND1,700 billion compared to the end of last year, equivalent to an increase of 5.93%.
Last year, Nam Long achieved net revenue of VND7,196 billion, up 126% over the previous year, mainly from the sale of land, apartments, townhouses and villas... Consolidated profit after tax was nearly VND1,382 billion, up 73% and profit after tax of parent company shareholders was more than VND512 billion, up 6%.
This enterprise has more than 17,993 billion VND in inventory, a slight increase compared to the beginning of the year, and 6,961 billion VND in financial debt, most of which is long-term debt.
Vinhomes plans to launch a series of major projects in the year of the Snake.
Another real estate giant, a member of billionaire Pham Nhat Vuong's Vingroup ecosystem - Vinhomes (stock code VHM) also entered the new year with a solid financial scale.
As of December 31, 2024, Vinhomes had total assets and equity of VND 560,724 billion and VND 220,443 billion, up 26% and 21% respectively compared to the end of last year. In 2024, Vinhomes recorded total consolidated net revenue after tax of VND 102,045 billion. Consolidated profit after tax reached VND 35,052 billion.
According to Vinhomes, based on the solid foundation of 2024 and the plan to launch a series of new major projects in 2025, this enterprise will continue to make breakthroughs in the new year.
Source: https://tuoitre.vn/nam-at-ty-cac-dai-gia-dia-oc-nhu-vinhomes-novaland-phat-dat-nam-long-se-co-gi-20250130103004932.htm
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