No longer losing money or having to rely on financial operations to make a profit, many leading businesses such as Novaland, DIC Group, Dat Xanh... have recorded strong sales growth in the second quarter of 2024.
No Va Real Estate Investment Group ( Novaland , code NVL) recorded net revenue of 1,549 billion VND, an increase of nearly 50% over the same period last year and double that of the previous first quarter. Thanks to the large contribution from financial revenue (3,952 billion VND), the company reported a profit after tax of 946 billion VND, a sharp improvement compared to the loss of 684 billion VND in the same period last year as well as a loss of 601 billion VND. of the first quarter of 2024.
Construction Development Investment Joint Stock Corporation ( DIC Group , code DIG) recorded revenue in the second quarter of 2024 increasing 5 times compared to the same period last year, reaching 821 billion VND. In the previous quarter, the company only brought in nearly 500 million VND in revenue due to large returned goods.
Thanks to increased sales revenue, even though financial revenue decreased and expenses increased, DIG still had a profit after tax of 125 billion VND, 14 times higher than the same period last year and a sharp improvement compared to a loss of 121 billion VND. of the first quarter of 2024. This is also DIG's largest quarterly profit after tax since the fourth quarter of 2021.
Dat Xanh Group (code DXG) also recorded revenue growth from sales and service provision over the same period in 2023 reaching 58%, to VND 1,126 billion. However, due to the "shortage" of financial revenue (down 99% compared to more than 340 billion VND in the same period), Dat Xanh reported a profit after tax of nearly 94 billion VND, down 40%.
Hoang Huy Financial Services Investment Joint Stock Company (code TCH) achieved 229 billion VND in profit after tax in the last quarter, up 35% over the same period last year; The main driving force comes from the real estate segment. During the period, the company brought in 828 billion VND, 2.6 times higher than the same period; Of which real estate revenue contributed 673 billion VND, 3 times more.
In particular, some real estate businesses at the top recorded sudden profits thanks to project handover. South Hanoi Housing and Urban Development Investment Corporation (code NHA) brought in nearly 61 billion VND in revenue in three months, 3.4 times higher than the same period last year. Cost of sales increased more slowly, so the company had a gross profit of nearly 39 billion VND, 13 times higher than the second quarter of 2023. Minus expenses, NHA's profit after tax is more than 29 billion VND, compared to the same period, it was only more than 130 million VND - corresponding to a growth rate of 223 times.
NHA's main activities are construction, real estate investment, exploitation, processing and trading of construction materials. In the real estate business, the company mainly develops urban projects and residential areas in Ha Nam province.
Tu Liem Urban Development Joint Stock Company (Lideco, code NTL) recorded net revenue of more than 841 billion VND; 17 times higher than the same period last year; Profit after tax was 396 billion VND, nearly 1,000 times higher than the figure of 374 million VND in the same period.
Lideco operates in the field of real estate business, construction and real estate consulting. One of this company's current key projects is Bai Muoi Urban Area in Cao Thang and Ha Khanh wards (Ha Long city, Quang Ninh). This project has been put into business since the end of 2023 and according to the company's plan, it will be sold in 2024.
For Vinhomes (code VHM), although revenue in the second quarter of 2024 decreased by 13% over the same period (reaching VND 28,218 billion), it was 3.5 times higher than the previous quarter. The company's revenue mainly comes from large lot sales transactions at the Vinhomes Royal Island project and a number of existing projects.
In addition to contributing more than VND 8,000 billion from financial revenue (mainly from income from investment and business cooperation contracts), VHM brought in profit after tax of VND 10,608 billion, an increase of 8% over the same period last year. last year and much improved compared to the figure of VND 884 billion in the first quarter of 2024.
CEO Group (CEO Group, code CEO) recorded net revenue from sales and service provision reaching 391 billion VND, an increase of 18% over the same period last year. However, due to the increase in cost of sales and other expenses, the CEO only had an after-tax profit of 14 billion VND, down 61% compared to the second quarter of 2023. This is the company's lowest profit in the last 11 quarters.
Although there are still businesses that recorded a decrease in revenue over the same period such as Phat Dat, Van Phu Invest, Ha Do Group, An Gia Real Estate... but in general, sales improved in businesses. Industry leaders have shown the warming of the real estate market.
In the last months of 2024, the real estate market is expected to continue to recover as businesses more strongly "launch their products". Especially when three important laws related to this field, the Housing Law 2023, the Real Estate Business Law 2023 and the Land Law 2024, officially took effect from August 1.
According to estimates by the Vietnam Association of Real Estate Brokers (VARS), the number of real estate transactions in the last 6 months of the year is expected to increase by about 20% compared to the first half of the year, because supply usually "increases" during the period year-end score, and is still contributed mainly by apartment type.
The majority of newly launched subdivisions and projects come from projects in the city's suburbs and provinces/cities surrounding the two special urban areas. According to VARS, the demand for buying houses to live in will continue to remain high with investment demand recovering about 30% compared to the beginning of the year and moving towards new markets, with plenty of room for price increases... will promote continued increase in transaction volume.
(mekongasean.vn)
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