Phú Mỹ Hưng posts highest after-tax profit in three years, up 41% to about VND 2.945 trillion in 2025

Phú Mỹ Hưng's after-tax profit rose 41% in the year to about 2,945 billion dong, the highest in three years. According to information sent to bondholders, Phú Mỹ Hưng Development Co., Ltd. reported 2025 after-tax profit of about 2,945 billion dong, up 41% from the previous year. This was the highest level in three years. On average per day, they earned more than 8 billion dong. The company did not publish an explanation for the profit movement. In fact, during the year they launched sales for Hong Ha City — the company's first urban area project in the north with an area of over 197 hectares and total investment of nearly USD 1 billion. In the southern hub of Ho Chi Minh City, they opened sales for The Sculptura condominium project and introduced The Regency. Thanks to growth in 2025, cumulative profit to date reached over 15,075 billion dong, higher than the end of the previous year by about 40%. Accordingly, equity also rose nearly 54% to about 18,554 billion dong. By the end of the previous year, total liabilities were about 20,864 billion dong, slightly higher than the same period. In the debt group, bank borrowings rose nearly 77% to 7,112 billion dong. However, debt from bond issuances declined more than 31% to 5,472 billion dong. Phú Mỹ Hưng issued 6 bond tranches in 2019-2021, with 5 tranches remaining outstanding, maturing from this year to 2027. Among them, three domestic tranches have a total value of 2,000 billion dong, with coupon rates of 7.15-8.8% per year. The remaining tranches raised USD 225 million and issued at a coupon rate of 2-2.58% per year. Photo caption: Visitors at the Hong Ha City model room. Photo: Tung Dinh Phú Mỹ Hưng Development Co., Ltd. was established in May 1993 and is a joint venture between IPC and Phú Mỹ Hưng Asia Holdings (formerly CT&D Group, Taiwan). IPC contributes 30% of capital; the rest is foreign. The company is known as the developer of Phú Mỹ Hưng New City (South of Ho Chi Minh City) — one of the city’s standout projects when turning swamp land into a bustling urban area. They aim to build a multi-functional urban area, financial and commercial center, services, industry, science, culture, education, residence, and entertainment to drive growth in the south and southeast of the city. In 2008, the Ministry of Construction and Ho Chi Minh City People’s Committee recognized it as a 'model urban area' of Vietnam. This company built Nguyen Van Linh Avenue with 10 lanes, becoming a key traffic axis of the southern part of the city. Along it, Phú Mỹ Hưng was tasked with developing five urban clusters totaling 774 hectares. The area is now famous for Crescent Mall, Moon Lake, townhouses and villas, and a series of completed condominiums such as Garden Plaza, Riverpark Residence, The Panorama, The Peak Midtown. This year, Phú Mỹ Hưng said it would launch more product lines at The Regency and Hong Ha City projects. The company is also expanding into Thu Dau Mot, Bình Dương with the Harmonie project, targeting younger customers.