Consolidating core business, Taseco Land reports 40% increase in profit

In addition to the steady revenue growth from real estate business, Taseco Land has begun to reap the rewards from industrial park infrastructure leasing – a strategic move to diversify revenue sources and strengthen long-term cash flow.

Taseco Real Estate Investment Joint Stock Company (Taseco Land - HoSE: TAL) recently announced its financial report for the third quarter of 2025, showing a clear improvement in core business activities.

Specifically, net revenue in the third quarter reached VND1,238 billion, nearly 4 times higher than the same period last year. Correspondingly, the cost of goods sold and services provided also increased sharply, recorded at VND802 billion, 3 times higher than the same period last year. However, gross profit still reached VND437 billion, 6 times higher. Accordingly, the gross profit margin improved from 21.95% to 35.30%, showing that core business activities are increasingly effective.

Regarding financial activities, Taseco Land's financial revenue in the third quarter of 2025 reached VND 17 billion, financial expenses increased by 18.3% to VND 43 billion.

In addition, costs also increased sharply according to the expansion scale. Specifically, sales expenses of 54.7 billion increased 3 times compared to the same period, up to nearly 55 billion VND. Business management expenses increased by 45%, up to 73.6 billion VND. However, Taseco Land's profit after tax in the third quarter of 2025 still reached 223 billion VND, up 20% compared to the same period last year.

In the first 9 months of the year, the company's net revenue reached VND2,171 billion, up 74%. The explanation shows that revenue from real estate business activities accounted for 51%, reaching VND1,155 billion, up 1.5 times. Notably, the company recorded an additional VND636 billion from long-term leasing of land use rights with technical infrastructure in industrial parks - a factor that helps diversify revenue sources and strengthen stable cash flow in the medium and long term.

Perspective of Taseco Me Linh project

The cost of goods sold and services provided during the period also increased accordingly, causing the total cost of goods sold and services provided during the period to increase significantly. However, this is considered appropriate in the context of Taseco Land expanding its project portfolio in 2025, especially in the Northern region - where the enterprise focuses on developing both urban and industrial real estate. After deducting expenses, Taseco Land reported a cumulative pre-tax profit of VND 381.6 billion, an increase of 47% over the same period, accordingly, the cumulative after-tax profit for the first 9 months reached VND 283 billion, an increase of 40% over the same period.

According to the 2025 business plan, Taseco Land targets consolidated revenue of VND4,332 billion, 2.6 times higher than the 2024 results; consolidated profit after tax of VND536 billion, in line with the cautious strategy in the early stages of the expansion cycle.

As of September 30, 2025, Taseco Land recorded total assets of VND 13,096 billion, an increase of 40% compared to the beginning of the year, reflecting the increasingly expanding scale of operations. In the asset structure, inventories accounted for 55%, equivalent to VND 7,263 billion, an increase of 78% compared to the same period in 2024. Most of this value comes from unfinished production and business costs at real estate projects, showing the fast implementation speed and large scale of investment of the enterprise. This development is expected to create momentum for breakthrough business results from the fourth quarter of 2025 onwards, when projects are eligible to continue recording revenue.

In terms of financial structure, Taseco Land's liabilities are at VND6,951 billion, of which loans account for VND3,785 billion, mostly long-term debt. Notably, in September 2025, the company successfully issued individual shares to professional securities investors, raising VND1,492.65 billion. The new capital is used to restructure bank loans, thereby helping to reduce financial leverage pressure and increase equity.

As a result, Taseco Land's debt-to-equity ratio (D/E) has dropped sharply from 112% to 61% compared to the semi-annual report. The capital structure has shifted towards a more stable and sustainable direction, focusing on medium and long-term capital sources, helping businesses proactively finance large-scale projects and minimize liquidity risks.

In the context of the real estate market entering the recovery phase, Taseco Land's consolidation of a solid financial foundation and maintenance of a cautious but flexible development strategy is considered a reasonable step, creating a premise for sustainable profit growth in 2026.

TAL stock price chart

On the stock market, TAL shares are currently trading at around VND48,000/share, up nearly 200% compared to the listed price when TAL officially traded on HOSE on August 1, 2025 - one of the strongest breakthroughs in the real estate industry. This increase reflects investors' confidence in Taseco Land's long-term development strategy, project implementation capacity and financial management efficiency during a period of strong transformation.

Source: https://daibieunhandan.vn/supply-of-business-activity-cot-loi-taseco-land-bao-lai-tang-40-10393499.html