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

(Dan Tri) - In the first 3 months of the year, Vinhomes recorded consolidated profit after tax of VND 2,652 billion, 2.93 times higher than in the first quarter of 2024.

Vinhomes Joint Stock Company (code VHM) 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 that of 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 level of more than VND 1,774 billion in the same period last year.

In addition, the company's financial revenue also reached more than 4,640 billion VND, 2.4 times higher. Financial expenses also increased to more than 3,859 billion VND, mostly from 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 consolidated profit after tax of VND 2,652 billion, 2.93 times higher than in the first quarter of 2024.

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

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

In this context, the enterprise 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 180,000 billion VND (about 6.93 billion USD) in revenue in 2025, up 75.9% compared to the 2024 figure. After-tax profit is set at 42,000 billion VND (about 1.62 billion USD), up 19.7% compared to last year's figure.

As of March 31, Vinhomes' total assets and equity reached VND561,504 billion and VND223,396 billion, respectively.

Mr. Le Tien Cong - Chief Accountant of Vinhomes - said that the revenue and profit drivers of the enterprise in 2025 mainly come from 3 main pillars. First is the continued construction, implementation, and handover of projects that were opened for sale in previous years. Second is the enterprise continuing to open for sale all projects in progress. Third is the growth driver coming from wholesale of large lots.

Regarding project development, last March Vinhomes officially launched the Vinhomes Wonder City mega-urban project - providing low-rise products to the market. In Ho Chi Minh City, the Vinhomes Green Paradise super project in Can Gio was just started on April 19 with a scale of 2,870 hectares, with an expected population of 230,000 people.

Previously, on March 26, the company also started the Vinhomes Green City project in Long An province with a scale of 197.2 hectares, marking a strategic step to expand to 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