Vingroup reports first quarterly pretax profit exceeding $1 billion

Vingroup, Vietnam’s largest listed company, reported its first quarterly pretax profit above $1 billion for the third quarter. Profit before tax reached approximately VND29.94 trillion ($1.1 billion), representing a 7.4-fold increase compared to the previous year.

Revenue for the period rose to VND150.58 trillion, nearly quadrupling the prior-year total. Real estate remains the conglomerate’s primary driver, generating nearly VND98.5 trillion, which accounts for more than 65% of total revenue. As of the end of September, the company held nearly VND107 trillion in cash and bank deposits.

In addition to real estate, Vingroup is expanding into electric vehicles, infrastructure, and energy. Analysts expect these sectors to eventually contribute between 30% and 40% of the group’s total revenue over the long term. The company also raised approximately $2.3 billion through bond issuances, preferred share sales, and syndicated loans from international investors.