Phat Dat Real Estate Development ranked Vietnam’s TOP 50 Best-performing Companies in 2018

Ho Chi Minh City – on June 27th, 2019 at GEM Center, Phat Dat Real Estate Development (Ticker: PDR) was honored, for the second consecutive year, the award “Vietnam’s TOP 50 Best-performing Companies in 2018” organized by Nhip Cau Dau Tu Magazine.

Vietnam’s Top 50 Best-performing Companies in 2018 is an annual prestigious ranking developed by Nhip Cau Dau Tu Magazine, in cooperation with Thien Viet Securities, to honor the most efficient companies on the Vietnam stock exchange. The ranking takes counsel, from acclaimed economists and business experts originating from Harvard Business School, as well as many renowned prestigious rankings such as Bloomberg Businessweek, Fortune, and Forbes.

The board of evaluation evaluates business results of three consecutive fiscal years, based on three indicators: revenue, return on equity (ROE) and earnings per share (EPS). This result is to objectively assess the management capacity of the enterprises.  This is also the second consecutive year that Phat Dat is awarded this prestigious award.  With impressive revenue and profit growth, Phat Dat is excellently ranked 10th in the list this year which firmly proves a successful 2018. Business activities continue growing with total revenue of VND 2,148 billion and post-tax profit of VND 643 billion, achieving an increase of 62% compared to the figure in 2017 and the equity reaches VND 3,512 billion.

Mr. Bui Quang Anh Vu, Deputy CEO of Phat Dat Real Estate Development, receiving Certificate for Top 50 Best Performing Companies Award.

Continuing the success in 2018, Mr. Nguyen Van Dat, Chairman cum CEO said, “The business target of VND 9,000 billion for goods and services and a pre-tax profit target of VND 1,100 billion will mark an important milestone, elevating PDR to a new level”.  Compared to 2018, revenues grew by 400% and post-tax profit increased by 24%. Dividend distribution in 2019 is expected at 90% of the post-tax profit.

By mid-May 2019, Phat Dat signed an investment cooperation agreement with Samty Asia Investments Pte. Ltd (Subsidiary of Samty Co.,Ltd.) – a leading real estate developer in Japan via Vietnam New Urban Center LP. with a total value of USD 22.5 million. Moreover, diversifying investment capital sources from high rate of capital turnover will help to push project development, especially projects launched in Ho Chi Minh City.  In addition, the announcement of the 5-year financial strategy, for the period 2019-2023, indicates a strong strategic orientation, namely the Compound Annual Growth Rate (CAGR) of 38% per annum and a pre-tax profit of VND 1,100 billion in 2019, and  reaching VND 4,150 billion by 2023, affirms Phat Dat’s financial strength in the new development phase.

In addition to the financial strategy, Phat Dat’s product development strategy is increasingly diversified with investments in Non-HCMC markets through successful bids of Zones No. 2, 4 and 9 in Nhon Hoi Urban Area – Binh Dinh during the first 6 months of 2019, thus, completing the picture of the Urban Ecotourism Are. This is also one of the focal points in Phat Dat’s product diversification strategy, market development and land fund expansion in the coming years.   Phat Dat’s land fund currently owned is 420.1 hectares, of which 172 hectares is available for project development.

In addition, Phat Dat has made significant improvements to the governance model resulting in more flexible and efficient performance in 2018. Phat Dat will further introduce technology to the governance model, enabling automation and elimination of unnecessary steps, as well as improvements in transparency and promotion of internal information flow, to achieve most efficient workflow.

With the aforementioned achievements, Phat Dat Real Estate Development confidently opens the door to the “New Era” with the annual profit growth of not less than 4 digits.