Vingroup hits first $1.1bn quarterly profit on property sales
The Vietnamese conglomerate's revenue nearly quadrupled in the third quarter, driven by strong real estate performance and significant capital raising.
Vingroup's Strong Q3 Earnings
Vietnamese conglomerate Vingroup recorded a pretax profit of nearly VND29.94 trillion (US$1.1 billion) in the third quarter, according to its financial report. This marks the first time the company has surpassed the US$1 billion quarterly profit threshold. The figure represents a 7.4-fold increase from the previous year, primarily fuelled by robust real estate sales.
Overall revenue for the period almost quadrupled year-on-year, reaching VND150.58 trillion, with property transactions contributing over 65% of this total, or approximately VND98.5 trillion.
Capital Influx and Liquidity
By the close of September, Vingroup held substantial liquidity, reporting nearly VND107 trillion in cash and bank deposits. The company also successfully secured approximately US$2.3 billion in capital during the quarter.
This funding was raised through a combination of bond issuances, the sale of preferred shares, and syndicated loans from a consortium of international investors. This capital injection supports the group's ongoing expansion and project development initiatives across its diverse portfolio.
Diversification and Future Growth
While real estate remains Vingroup's primary revenue driver, the conglomerate has strategically diversified its operations since 2025, venturing into power generation and infrastructure development. Analysts at VNDirect Securities project that property will continue to account for at least 50% of Vingroup's total revenue and profit over the next five years.
Concurrently, the group anticipates rapid growth in its electric vehicle, infrastructure, and energy segments, aiming for these combined businesses to contribute 30%–40% of its long-term revenue. This year, Vingroup is advancing several large-scale projects, including urban areas and five urban railway lines in Hanoi, valued at about US$49 billion.
Vingroup's ability to generate significant profit from real estate and attract substantial international capital for its diversification efforts offers a clear signal for the broader Asian market. The successful US$2.3 billion capital raise, involving international investors, demonstrates confidence in Vietnam's economic trajectory and its large-scale infrastructure ambitions.
This trend could encourage other regional conglomerates to pursue similar capital-raising strategies for major urban development and infrastructure projects, particularly in fast-growing Southeast Asian economies. Investors will watch for further announcements on project financing and development timelines.
This article is journalism, not investment advice; consult a licensed professional before making financial decisions. Market data is indicative, may be delayed, and should be verified with your broker or exchange before use.
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