PDR announces consolidated financial statements for Q1/2025: Maintaining stability, moving toward sustainable growth
On April 23, 2025, Phat Dat Real Estate Development Corporation (HOSE: PDR) officially released its consolidated financial statements for Q1/2025, recording positive business results that affirm the effectiveness of its sustainable development strategy and the flexible management of its leadership team.
In Q1/2025, PDR achieved net revenue of nearly VND 438 billion, a strong increase compared to VND 162 billion in the same period in 2024. This result reflects the clear recovery of the real estate market as well as the company’s efficient project execution and handover capabilities.
Gross profit reached VND 175 billion, contributing positively to overall business performance, while after-tax profit stood at over VND 50.6 billion, maintaining stability and reinforcing the Company’s solid core operations.
As of March 31, 2025, PDR’s total assets exceeded VND 23,094 billion, with short-term assets accounting for a significant portion, ensuring high liquidity and effective capital turnover. Equity increased slightly to over VND 11,108 billion, strengthening the company’s transparent and sustainable financial foundation. Additionally, PDR continued to strictly manage receivables and inventory, ensuring stable cash flow to support long-term investment and development plans.
Quy Nhon Iconic remained a major contributor to PDR’s revenue and profit in Q1/2025, with an impressive project margin of 24%. As one of the most prominent projects in Binh Dinh, it is gradually completing a high-standard residential area, recognized as one of the province’s top-quality urban developments. PDR considers this project a successful model of modern urban development and expects it to remain a key contributor to revenue and profit throughout 2025.
Internal view of Quy Nhon Iconic in Binh Dinh
Meanwhile, in Q1/2025, PDR actively accelerated construction progress and legal completion for key projects. Notably, Thuan An 1 & 2 in Binh Duong has finalized its land use fee determination and is preparing for sales launch in Q2/2025. With its strategic location, this project is expected to significantly boost the company’s revenue this year.
Thuan An 1 & 2 in the prime area of Thuan An City, Binh Duong
In addition to Quy Nhon Iconic and Thuan An 1&2, PDR holds a pipeline of high-potential projects with an expected total revenue of VND 50,000 billion, including luxury apartments in Q1 Tower (Ngo May, Quy Nhon), Nhu Nguyet Commercial-Service Complex (Da Nang), Con Dao Resort Complex (Ba Ria – Vung Tau), and Serenity Phuoc Hai Luxury Apartments (Ba Ria – Vung Tau). These projects are accelerating legal procedures and construction progress, demonstrating PDR’s commitment to delivering investment value to customers and shareholders.
In a strategy to expand its land bank, PDR is proactively participating in bidding and negotiations for potential projects in key economic regions. Notably, the signing of an MoU with Di An City (Binh Duong Province) marks a strategic step in expanding the company’s presence in the South – a rapidly growing industrial, residential, and infrastructure hub.
PDR actively expanding land reserves in key economic zones
With a clear development strategy, strong financial foundation, and promising project portfolio, PDR continues to affirm its position as a leading and reputable real estate developer, poised for breakthroughs in 2025 and beyond.
For detailed Q1/2025 Consolidated Financial Statements, click here.
