Van Phu (VPI) Sets Record Revenue and Profit Targets for 2026 at AGM

Overview

Van Phu (VPI) held its 2026 Annual General Meeting on April 23, setting record-high revenue and profit targets of VND 4,500 billion and VND 720 billion, representing growth of 127.7% and 83.2% respectively over 2025 actuals. The company plans to achieve this through accelerated sales and construction of core projects across major cities, including Ho Chi Minh City, Hai Phong, and Hue, as well as expanding its land bank.

Key Facts

• VPI targets 2026 revenue of VND 4,500 billion, up 127.7% from 2025.
• 2026 net profit target is VND 720 billion, up 83.2% year-on-year.
• Both revenue and profit targets are the highest in the company’s history since listing.
• The company plans to launch nearly 2,000 products across major cities in 2026.
• Core projects include Vlasta Premier – Phu Thuan (HCMC), Vlasta – Thuy Nguyen (Hai Phong), and Vlasta Premier – Phu Hoi (Hue).
• In June 2026, VPI will open the Auko Glamping – Phong Nha (Quang Tri) project.
• VPI is also pursuing BT infrastructure projects in HCMC to receive land funds in central areas.

What Happened

At its 2026 Annual General Meeting held on April 23, Van Phu (VPI) presented shareholders with a business plan targeting record revenue of VND 4,500 billion and net profit of VND 720 billion, representing growth of 127.7% and 83.2% respectively over 2025 actuals. Management stated that these are the highest targets since the company became a public company.

To achieve these goals, VPI will focus resources on accelerating sales, construction progress, and legal procedures for core projects such as Vlasta Premier – Phu Thuan (HCMC), Vlasta – Thuy Nguyen (Hai Phong), and Vlasta Premier – Phu Hoi (Hue). The company also plans to optimize operating cash flow through improved management and exploitation of commercial and hospitality assets, including Oakwood Residence Hanoi and Terra – An Hung (Hanoi). In June 2026, VPI will launch the Auko Glamping – Phong Nha project in Quang Tri, located near the Son Doong world natural heritage site.

Market Context

VPI shares closed at VND 56,000 on April 10, 2026, down 0.70% with volume of 841,000 shares. The stock trades on HOSE. The real estate sector in Vietnam has been recovering gradually, with developers focusing on project execution and legal clearance. VPI’s aggressive targets reflect management’s confidence in its project pipeline and market demand.

Strategic Significance

VPI’s record targets signal a strategic push to scale up operations and capture market share in Vietnam’s recovering property market. The company is diversifying geographically across key urban centers (Hanoi, HCMC, Hai Phong, Hue) and product types (residential, commercial, hospitality). The BT infrastructure projects in HCMC provide a mechanism to acquire prime land in central districts without upfront cash outlay, potentially enhancing future project margins. Successful execution of the 2026 plan would mark a significant inflection point for VPI’s earnings trajectory.

What to Watch

• Quarterly sales and handover progress at Vlasta Premier – Phu Thuan and other core projects.
• Legal clearance and launch timeline for new projects in Binh Chanh (HCMC), Bac Ninh, and Dong Nai.
• Completion of the BT road project in Thu Duc (HCMC) and receipt of land funds.
• Q1 2026 earnings release to gauge early momentum toward targets.
• Updates on the Auko Glamping – Phong Nha opening and its contribution to recurring income.