Vinhomes revenues more than double

By Dat Nguyen   October 29, 2020 | 12:00 am PT
Vinhomes revenues more than double
A Vinhomes apartment building complex in Ho Chi Minh City. Photo by Shutterstock/Evan_Unit01.
Property company Vinhomes reported Q3 revenues rose 2.4 times year-on-year to VND26.5 trillion ($1.14 billion) thanks to sales of thousands of units in three housing projects.

But pre-tax profits were 1.6 percent lower at VND7.5 trillion after sales costs tripled.

During the quarter, the Vingroup subsidiary handed over nearly 10,400 apartments and other housing units to buyers at Vinhomes Grand Park in Ho Chi Minh City and Vinhomes Smart City and Vinhomes Ocean Park in Hanoi.

For the first nine months, pre-tax profits rose 5.6 percent year-on-year to VND22.2 trillion, while revenue rose 19 percent to VND62.6 trillion.

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