Vietnam real estate firms post profit surge on financial revenue

Vietnamese property developers reported sharply higher Q2 profits driven largely by financial activities rather than core real‑estate sales. DIC Group posted net profit of over VND 140 billion on revenue of VND 610 billion, but its gross margin fell from 39% to 6.9% as most earnings came from interest on term deposits and short‑term investments. Phat Đạt saw financial revenue jump to VND 474 billion, delivering a net profit of VND 81 billion, while its real‑estate sales contributed only about VND 2 billion. Novaland recorded financial revenue of VND 1.7 trillion, turning a loss of VND 160 billion in the prior year into a net profit of VND 970 billion, with total revenue of VND 1.5 trillion. Across the sector, core property sales remain weak, and the profit spikes reflect a reliance on non‑operating financial income.