Company of Southeast Asia’s richest man posts first $1B quarterly profit
Conglomerate Vingroup, controlled by Southeast Asia’s richest man Pham Nhat Vuong, reported pretax profit of nearly VND29.94 trillion (US$1.1 billion) in the third quarter, up 7.4 times year-on-year, driven by real estate sales.
Vietnam's largest listed company, Vingroup, led by billionaire Vuong, has reported its first $1 billion quarterly profit. The company's revenue surged nearly fourfold year-on-year, reaching VND150.58 trillion, with real estate contributing the largest share at nearly VND98.5 trillion or 65% of total revenue. As of September-end, Vingroup held nearly VND107 trillion in cash and bank deposits.
The conglomerate expanded its operations into power, infrastructure, and technology sectors since 2025, with real estate remaining the main growth driver. Vingroup is developing several major projects across the country, including urban areas in Quang Ninh, Hanoi, and HCMC, and infrastructure projects worth $49 billion for Hanoi's urban railway lines.
Vuong, the chairman and richest man in Southeast Asia with a net worth of $37.7 billion, oversees these developments.
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