Billionaire Pham Nhat Vuong's business has skyrocketed revenue thanks to industrial production and real estate.

Pham Nhat Vuong - Photo 1.

Vingroup Chairman Pham Nhat Vuong (second from left) talks with delegates and leaders at the groundbreaking ceremony of the coastal urban tourism project in Can Gio recently - Photo: CHAU TUAN

The financial report for the first quarter of 2025 of Vingroup Corporation (stock code VIC) has just been announced, showing that Vingroup achieved revenue of up to VND 84,053 billion in the quarter, an increase of 287% and nearly 4 times higher than the VND 21,739 billion in the first quarter of last year.

This is a record revenue that billionaire Pham Nhat Vuong's company achieved in a quarter, equivalent to the company achieving revenue of nearly 1,000 billion VND/day.

This growth came mainly from industrial production and real estate development and trading.

Regarding the real estate sector, the first quarter financial report of Vinhomes Joint Stock Company (stock code VHM - a member of Vingroup Corporation) showed that total consolidated net revenue reached VND 15,698 billion in the first quarter.

Vinhomes' consolidated profit after tax reached VND2,652 billion, up 193% over the same period last year.

With the technology - industry pillar, VinFast recorded a total of more than 35,100 vehicles delivered in the first quarter, bringing the company's global sales to 36,330 vehicles.

Vingroup's after-tax profit was recorded at VND2,243 billion, up 68% compared to the first quarter of last year. This is also the largest profit Vingroup has ever recorded in a quarter in the past 5 years.

At the end of the first quarter, Vingroup's total assets reached VND823,270 billion. With the above business results, Vingroup still holds the "champion" position as the private enterprise with the largest total assets in Vietnam on the stock exchange.

	Revenue	Profit after tax
Quarter 1-2020	15470	505
Quarter 1-2021	23305	868
Quarter 1-2022	18239	512
Quarter 1-2023	38974	589
Quarter 1-2024	21739	1335
Quarter 1-2025	84053	2243

At the recent 2025 annual shareholders' meeting, Vingroup's 2025 business plan was approved with the target of net revenue and after-tax profit reaching VND300,000 billion and VND10,000 billion, respectively.

Regarding the real estate sector, Vingroup said that in 2025, Vinhomes will continue to affirm its pioneering role in the real estate market by developing large-scale urban areas with integrated synchronous utilities.

Sharing at the recent shareholders' meeting, Mr. Pham Nhat Vuong - Chairman of Vingroup - said that the real estate market is clearly recovering, and revenue from this sector is expected to skyrocket in 2025.

In addition to real estate and electric vehicles, Vingroup's chairman said the group is expanding many other pillars, including infrastructure, energy, seaports...

Vingroup made a huge profit last year

In 2024, Vingroup recorded net revenue of VND 189,068 billion, an increase of 17.1% compared to 2023.

Profit after tax reached VND 5,276 billion, up 156.6%. Total assets by the end of 2024 reached VND 839,216 billion, up 172,000 billion over the same period last year.