Billionaire Vuong's "golden goose" reported a profit of more than 2,600 billion after 3 months

Vinhomes Joint Stock Company (VHM code) has just announced its consolidated financial report for the first quarter of 2025 with positive business results. Specifically, the company's net revenue reached nearly VND 15,698 billion, 1.9 times higher than the first quarter of 2024. After deducting the cost of goods sold, Vinhomes recorded a gross profit of nearly VND 5,158 billion, 2.9 times higher than the VND 1,774 billion recorded in the same period last year.

Furthermore, the company's financial revenue also reached over 4,640 billion VND, 2.4 times higher. Financial expenses also increased to over 3,859 billion VND, largely due to interest expenses and bond issuance. In the same period last year, Vinhomes' financial expenses were only 1,369 billion VND.

After deducting expenses, the company recorded a consolidated after-tax profit of VND 2,652 billion, 2.93 times higher than in Q1/2024.

At Vinhomes' 2025 annual general meeting, Mr. Pham Thieu Hoa - Chairman of the Board of Directors - stated that the real estate market has many bright prospects, although it still faces certain challenges and fluctuations, but is mostly favorable.

Billionaire Vuong's

Vinhomes Chairman Pham Thieu Hoa (Photo: Linh Nguyen).

In this context, businesses will accelerate the completion of existing projects and expand strategic projects, aiming to develop model urban areas in key provinces and cities such as Hanoi, Hai Phong, Ho Chi Minh City, and Long An .

The company plans to achieve revenue of VND 180 trillion (approximately USD 6.93 billion) in 2025, a 75.9% increase compared to 2024. Net profit after tax is projected at VND 42 trillion (approximately USD 1.62 billion), a 19.7% increase compared to last year's figure.

As of March 31st, Vinhomes' total assets and equity amounted to VND 561,504 billion and VND 223,396 billion, respectively.

Mr. Le Tien Cong, Chief Accountant of Vinhomes, stated that the company's revenue and profit growth in 2025 will primarily stem from three main pillars. Firstly, the continued construction, implementation, and handover of projects launched in previous years. Secondly, the company will continue selling units in ongoing projects. Thirdly, growth will come from large-scale wholesale sales.

Regarding project development, in March, Vinhomes officially launched the Vinhomes Wonder City mega-project, offering low-rise housing products to the market. In Ho Chi Minh City, the Vinhomes Green Paradise super-project in Can Gio was recently launched on April 19th, covering an area of 2,870 hectares with an estimated population of 230,000 people.

Previously, on March 26th, the company also commenced construction of the Vinhomes Green City project in Long An province, covering an area of 197.2 hectares, marking a strategic step to expand towards the Northwest of Ho Chi Minh City and the Mekong Delta.

Source: https://dantri.com.vn/kinh-doanh/ga-de-trung-vang-cua-ty-phu-vuong-bao-lai-hon-2600-ty-sau-3-thang-20250430154640622.htm