Vinhomes (VHM) reported a net revenue of 19 trillion VND in Q2 2025, down 33% year-over-year but up 21% quarter-on-quarter. Core real estate revenue was 16.5 trillion VND, down 43% year-over-year but up 53% from the previous quarter. The company launched two new projects, Golden City and Green City, and sold over 1,300 units. The total sales revenue reached 67.5 trillion VND, an increase of 31% year-over-year, with the two projects Wonder City and Royal Island contributing 78%. By the end of Q2, the unrecorded sales revenue amounted to 138.2 trillion VND, a significant asset for annual profits. The management is optimistic about achieving 150 to 200 trillion VND in sales for 2025, bolstered by new projects. Infrastructure development is expected to support sales. The projected net profit for 2025 is 32.056 trillion VND with an EPS of 7.804 VND. VHM shares have seen a strong increase in the market.
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