How did real estate businesses do in the third quarter?

One of the "prosperous" businesses in the third quarter of 2025 is Nam Long Investment Joint Stock Company or Khang Dien Housing Investment and Trading Joint Stock Company.

Accordingly, Nam Long recorded sales and service revenue of up to VND 1,877 billion, an increase of VND 1,506 billion, equivalent to 406% compared to the third quarter of 2024; cumulatively in the first 9 months of the year increased by VND 3,113 billion, equivalent to 376% to VND 3,941 billion.

Along with revenue is the strong growth of net profit. Nam Long's after-tax profit reached 234 billion VND, a strong improvement compared to the loss of 40.4 billion VND in the third quarter of last year; accumulated profit in the first 9 months of the year increased by 386.5 billion VND, equivalent to 709% to 441 billion VND.

Many real estate businesses have outstanding profit growth in the third quarter of 2025. (Illustration photo)

Khang Dien shareholders also have reason to celebrate as third quarter revenue increased by VND845 billion, equivalent to 334% to VND1,098 billion; cumulative nine-month increase of VND1,637 billion, equivalent to 133% to VND2,869 billion.

Thanks to the increase in revenue, Khang Dien's after-tax profit also made a big step forward. This target reached 526 billion VND, an increase of 459.6 billion VND, equivalent to 692%; the accumulated figure for the first 9 months reached 841 billion VND, an increase of 431 billion VND, equivalent to 105% compared to the same period last year.

In addition, a number of other real estate businesses also recorded strong growth rates such as: Saigon Thuong Tin Real Estate Joint Stock Company - TTC Land (up 2,160%), DIC Group (up 1,432%),...

Although profits are up, many business still facing very high inventory levels. As of September 30, 2025, inventory at Nam Long reached VND 17,852 billion, accounting for 62.9% of total assets and far exceeding revenue.

At Khang Dien, the inventory index was even higher, reaching VND 23,086 billion, accounting for 69.8% of total assets.

At TTC Land, despite the high growth rate, the revenue and profit scale were modest, reaching only VND951 billion and VND33.9 billion in the first 9 months of the year. Meanwhile, as of September 30, 2025, the inventory index at this enterprise reached VND3,574 billion.

While many businesses are winning big, many others are not doing so well.

In the third quarter, No Va Real Estate Investment Group Joint Stock Company ( Novaland ) recorded a significant decrease in revenue from VND 2,012 billion to VND 1,684 billion, but the accumulated revenue for the first 9 months of the year increased from VND 4,299 billion to VND 5,399 billion, equivalent to an increase of VND 1,100 billion (25.6%).

Vinahud Housing and Urban Development Investment Joint Stock Company continues to be on the list of loss-making real estate enterprises with a loss of VND22.4 billion in the third quarter and VND779.8 billion in the first 9 months of the year. The good news is that this loss has decreased compared to the loss of VND162 billion in the first 9 months of 2024.

Vinahud suffered losses as revenue “fell freely”. Revenue in the third quarter decreased from VND52.5 billion to VND7.6 billion; accumulated revenue in the first 9 months decreased by VND142.4 billion, equivalent to 82.8% to VND29.6 billion.

DRH Holdings Joint Stock Company also recorded its 10th consecutive period of loss. In the third quarter of 2025, DRH lost VND25.5 billion; accumulated loss in 9 months was VND75.9 billion. As of September 30, DRH accumulated loss was VND157 billion.

Source: https://baolangson.vn/doanh-nghiep-bat-dong-san-lam-an-ra-sao-trong-quy-iii-5064790.html