Dai Quang Minh disclosed its financial reports for the last two years for the first time, showing that its post-tax profit last year surged to over 4,000 billion VND, up from around 183 billion VND in 2024.
In its financial report submitted to the Hanoi Stock Exchange, Dai Quang Minh Real Estate Investment Joint Stock Company stated that its post-tax profit last year reached nearly 4,070 billion VND, skyrocketing from 183 billion VND in the same period. The return on equity (ROE) also jumped dramatically from 1.1% to 12.6%.
By the end of last year, Dai Quang Minh had equity of over 32,000 billion VND, nearly double that of 2024. About 7,500 billion VND of this amount was undistributed post-tax profit.
Business results fluctuated sharply as Dai Quang Minh completed 22 projects in a year to serve the needs of member units under Truong Hai Group (Thaco), while simultaneously implementing a series of large projects in Hanoi, Da Nang, and Dong Nai.
2024 and 2025 were the first two years Dai Quang Minh disclosed its profits to comply with information disclosure regulations after issuing a bond package worth 1,500 billion VND late last year. This bond package accounted for a small portion of the total debt of nearly 35,000 billion VND, with the rest mostly being bank loans.
Dai Quang Minh was established in early 2011, serving as a major piece in Thaco’s ecosystem. According to data published in the middle of last year, Thaco owns 77.5% of the capital here, while the family of Thaco Chairman Tran Ba Duong holds 22.5%. Mr. Duong served as Chairman and legal representative of Dai Quang Minh for a long time before handing over to Mr. Tran Dang Khoa early this year.
Dai Quang Minh plays the role of investing in and constructing road traffic infrastructure, seaports, railways, industrial parks, urban areas, and real estate.
Investors view the perspective map of Dai Quang Minh’s Sala urban area. Photo: Thaco
Investors view the perspective map of Dai Quang Minh’s Sala urban area. Photo: Thaco
Since the beginning of the year, the company has adjusted its charter capital three times, from 18,200 billion VND to 32,000 billion VND in mid-May. The rapid capital increase coincided with the period when the company was preparing for a series of mega-projects, such as the Red River landscape boulevard axis and metro lines connecting the center of Ho Chi Minh City with Long Thanh Airport. Earlier this year, the company also restarted a component project in the Sala urban area (Ho Chi Minh City) after an 8-year hiatus.
Mr. Tran Ba Duong assigned Dai Quang Minh the target of commencing 42 projects and completing 12 projects this year. Financially, the revenue target is 12,000 billion VND, and the investment cost disbursement is over 21,000 billion VND to increase sales to 37,000 billion VND next year.
Phuong Dong
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