Real estate giants make big profits, but Novaland suffers heavy losses

(Dan Tri) - In the third quarter, many real estate companies made large profits thanks to core business activities or investments. On the contrary, some companies suffered heavy losses of thousands of billions of dong and faced many difficulties.

Many real estate businesses have recorded positive business results in the first 9 months of the year. Many businesses reported a sharp increase in profits compared to the same period last year, thanks to restructuring revenue sources, promoting rental and service sectors, or recording revenue from projects that have completed legal procedures and been handed over to the market.

Many real estate businesses report unusually high profits

Saigon Thuong Tin Real Estate Joint Stock Company - TTC Land (stock code: SCR) announced that in the first 9 months, net revenue reached over VND 950 billion and after-tax profit was nearly VND 34 billion, respectively 3 times and 23 times higher than the same period last year. The growth comes from the shift in revenue structure, increasing in the service sector, real estate rental, and construction.

These segments bring stable cash flow to the business, while real estate transfer revenue has not yet improved. This is also TTC Land's strategic orientation in the period 2026-2027: Increasing the proportion of operating - leasing revenue, aiming for a balanced development model between short-term and long-term cash flow.

Real estate market is booming, business profits are differentiated (Photo: NVL).

Or Nam Long Investment Joint Stock Company (stock code: NLG) also recorded positive results with revenue and profit after tax in the first 9 months increasing nearly 5 times and 23 times compared to the same period, reaching nearly 3,941 billion VND and 354 billion VND. Revenue mainly comes from handing over business projects implemented in Ho Chi Minh City, Tay Ninh, and Can Tho .

Similarly, Khang Dien House Investment and Trading Joint Stock Company (stock code: KDH) recorded 9-month revenue more than double the same period last year, reaching VND2,869 billion. Profit after tax reached nearly VND841 billion, double the same period. Business results were also largely contributed by real estate transfer revenue.

Project sales also contributed to a strong improvement in profits of Phat Dat Real Estate Development Joint Stock Company (stock code: PDR) and Construction Development Investment Joint Stock Corporation (DIC Group - stock code: DIG).

In the third quarter, Phat Dat's profit reached nearly VND86 billion, up 68% over the same period last year. The reason given by the enterprise was that during the period, real estate transfer revenue continued to be recorded from the Bac Ha Thanh ( Gia Lai ) and Ky Dong (HCMC) projects.

In the first 9 months, the company achieved net revenue of VND964 billion and after-tax profit of VND201 billion, respectively 5.5 times and 31% higher than the same period last year.

Meanwhile, DIC Group had net revenue of over VND1,339 billion, after-tax profit exceeding VND193 billion, 28 times and 17 times higher than the same period last year, respectively. Explaining the reason, the group stated that revenue mainly came from real estate business activities.

On September 17, DIC Group announced the completion of the transfer of the Lam Ha Center Point Residential Area project in Ninh Binh province, with a transfer price of more than VND 1,327 billion. In the first 9 months, the company earned a profit of nearly VND 200 billion, 13 times higher than the same period last year.

Novaland and 2 other businesses reported losses

However, some businesses still suffered large losses or had poor business performance. Novaland Group (stock code: NVL) lost VND1,820 billion in the first 9 months, mainly due to a decrease in financial revenue. However, net sales revenue reached nearly VND4,956 billion, up 33% over the same period last year, recorded from handovers at key projects.

As of September 30, Novaland's total outstanding loans were more than VND64,000 billion, of which short-term loans were about VND32,000 billion.

Or DRH Holdings Joint Stock Company (stock code: DRH) lost more than 25 billion VND in the third quarter, extending the streak of 10 consecutive quarters of losses. Accumulated in 9 months, the company lost nearly 76 billion VND.

Vinahud Housing and Urban Development Investment Joint Stock Company (stock code: VHD) also lost more than 22 billion VND in the third quarter, due to low revenue not being enough to cover operating costs. Accumulated in 9 months, the company lost nearly 80 billion VND.

Profits from stock investment

Some other businesses have increased profits, but they come from stock investment activities such as Tu Liem Urban Development Joint Stock Company (stock code: NTL) or Da Nang Housing Development Investment Joint Stock Company (stock code: NDN).

Accordingly, in the third quarter, Tu Liem Urban Area had a profit from deposits and securities investment nearly 4 times higher than the same period, reaching nearly 58 billion VND. This helped the enterprise earn a profit of nearly 13 billion VND, 3.5 times higher than the same period, although the revenue was only nearly 4 billion VND.

Meanwhile, Nha Da Nang recorded more than 128 billion VND in profit from securities investment in the first 9 months. Thanks to that, the profit in the first 9 months reached more than 145 billion VND, 3.5 times higher than the same period last year.

Source: https://dantri.com.vn/kinh-doanh/cac-dai-gia-bat-dong-san-lai-lon-rieng-novaland-lo-dam-20251031143946390.htm