Vingroup (VIC) Profit Surges 150% on Property and VinFast Sales

Overview

Vingroup (VIC), the largest conglomerate in Vietnam controlled by Southeast Asia’s richest man Pham Nhat Vuong, reported a 150% jump in after-tax profit and 24% revenue growth for the latest quarter. The strong performance was driven by its property segment and VinFast electric vehicle sales, pushing shares to a new all-time high of VND225,500.

Key Facts

• Vingroup’s quarterly after-tax profit surged 150% year-on-year.
• Revenue rose 24% to VND104.3 trillion (USD 4.3 billion).
• Property segment contributed VND60.2 trillion, driven by sales at Ocean Park 2 and 3 in Hung Yen and Green Paradise in Can Gio.
• VinFast delivered 58,600 electric cars (up 61%) and 143,000 electric motorbikes (up 300%), generating VND28 trillion in revenue.
• Chairman Pham Nhat Vuong targets 300,000 car sales in 2025, focusing on long-range models.
• For 2026, Vingroup targets revenue of VND485 trillion (up 46%) and post-tax profit of VND35 trillion (nearly triple 2025).
• VIC shares closed at VND225,500, a new peak, giving a market cap of VND1.7 quadrillion (USD 70 billion), the largest in Vietnam.

What Happened

Vingroup announced its quarterly results at the annual general meeting, revealing a 150% profit surge and 24% revenue increase. The property segment remained the largest contributor, accounting for over half of total revenue, thanks to strong sales at major urban projects. VinFast, the electric vehicle subsidiary, also posted robust growth, with car deliveries up 61% and motorbike deliveries up 300%.

Chairman Pham Nhat Vuong outlined ambitious targets for 2025 and 2026, including selling 300,000 cars this year and achieving VND485 trillion in revenue by 2026. The company’s shares hit a new record high, reflecting investor optimism about the conglomerate’s diversified growth strategy.

Market Context

VIC shares on HOSE closed at VND225,500 on the announcement day, up 6.95% from the previous close with heavy volume of 6.36 million shares. The stock has been on an upward trend, supported by strong earnings and positive sentiment around VinFast’s expansion. Vingroup’s market capitalization now exceeds VND1.7 quadrillion, making it the largest listed company in Vietnam and among the top in Southeast Asia.

Strategic Significance

Vingroup’s results underscore the success of its dual-engine strategy: property development and electric vehicle manufacturing. The property segment continues to generate steady cash flow, while VinFast is scaling rapidly, with a focus on long-range EVs. The 2026 targets imply a significant acceleration in profitability, suggesting management expects sustained demand for both segments. The company’s ability to execute on its ambitious sales goals will be key to maintaining investor confidence.

What to Watch

• VinFast’s monthly delivery numbers and any updates on new model launches.
• Progress of property sales at Ocean Park and Green Paradise projects.
• Q2 2025 earnings release to confirm the growth trajectory.
• Any regulatory changes affecting the real estate or EV sectors in Vietnam.
• Foreign ownership levels and potential index inclusion catalysts.