Vingroup posts first $1B quarterly profit, revenue nearly quadruples
Vietnam's largest listed company, Vingroup, has reported its first quarterly profit exceeding US$1 billion. Revenue nearly quadrupled year-on-year to VND150.58 trillion, driven primarily by its real estate division, which contributed over 65% of total revenue.
Vietnam's largest listed company, Vingroup, has posted its first quarterly profit exceeding US$1 billion, according to the company's financial report. Revenue nearly quadrupled year-on-year to VND150.58 trillion (about US$6.2 billion).
As in the first two quarters, real estate generated the largest share of revenue, at nearly VND98.5 trillion, or more than 65 per cent of the total. Vingroup, led by billionaire chairman Pham Nhat Vuong – Southeast Asia's richest man with a net worth of US$37.7 billion according to Forbes – has expanded into power and infrastructure since 2025, alongside its traditional businesses of real estate, industrial manufacturing and technology.
By the end of September, Vingroup held nearly VND107 trillion in cash and bank deposits. During the period, it also raised about US$2.3 billion through bond issuance, the sale of preferred shares and syndicated loans from international investors.
VNDirect Securities estimates that real estate will remain Vingroup's mainstay, contributing at least 50 per cent of its total revenue and profit over the next five years. Meanwhile, its electric vehicle, infrastructure and energy businesses are expected to expand rapidly, raising their combined share of the group's revenue to 30–40 per cent over the long term.
This year, Vingroup is developing a series of major projects across the country. In real estate, it is building several urban areas spanning thousands of hectares, including projects in Quang Ninh, Hanoi and Ho Chi Minh City. In infrastructure, through its subsidiaries, Vingroup is involved in engineering, procurement and construction contracts for five urban railway lines in Hanoi, with a total value of about US$49 billion.
