Phat Dat as one of the 20 leading enterprises presenting in “Top 50 Prestigious and Effective Public Companies” in 2021
Impressive business performance with capital efficiency and positive cash flow, constant growth on the stock market, strong commitments to shareholders and investors throughout the development journey, etc. have contributed to Phat Dat’s presence in the top group of “Top 50 Prestigious and Effective Public Companies” in 2021.
On 8th June 2021, Phat Dat Real Estate Development Corporation (Stock Code: PDR) continuously accumulates its “abundant” collection of prestigious awards in 1H2021 with 17th place in the “Top 50 Prestigious and Effective Public Companies” by Vietnam Report. In particular, Phat Dat is one of the 2 real estate representatives grouping with major banking enterprises and leading corporations to form the top 20.
“Top 50 Prestigious and Effective Public Companies” were ranked among qualified enterprises by revenue, profit, assets, and market capitalization as of 29th April 2021.
Specifically, the assessment of prestige and effectiveness takes into account various perspectives of investors, market sentiment, and experts with two sets of criteria. The first set evaluates operating effectiveness, scale, and developmental prospects via indicators such as market cap, revenue, profit, EPS, ROE, and Compound growth rate of revenue and profit. The other measures media reputation using the Media Coding method – coding each company’s articles on influential media channels by 24 communication standards.
Through these criteria, Phat Dat has demonstrated as excellent growth rate and enhanced internal resources over the years, especially in the first 3 years implementing the New Era strategy (2019-2023). Particularly, in 2019, net revenue reached over VND 3,410 billion, and pre-tax profit reached over VND 1,105 billion, up 45.8% compared to 2018. Furthermore, in 2020, PDR’s net revenue exceeded VND 3,911 billion, up 15% YoY, and pre-tax profit reached VND 1,540.22 billion, up 39.3% YoY.
Even though the social and economic landscapes have been greatly affected by Covid-19, Phat Dat still accelerates its project implementation to put the products on the market as planned and, at the same time, promotes the development of new projects and acquires ongoing projects. Obviously, Phat Dat determinately sets to conquer comprehensive breakthroughs and the given goals.
In terms of using financial leverage, Phat Dat’s total assets/equity ratio decreased from 3.54 times (2016) to 3.14 times (2020), while the total asset turnover (Net Revenue/Total Assets) improved from 0.18 times to 0.26 times, resulting in the return on equity (ROE) increasing from 9.80% to 25.95%. The effective use of assets also provides Phat Dat with a proactive position in circulating investment flow for project development as well as an increased credit rating among financial institutions and investment funds.
At the end of 1Q2021, Phat Dat remained in the Top 15 most profitable real estate enterprises in the quarter with net revenue of VND 586.1 billion and a sharp increase of over 60% in profit YoY, including the profit before tax and profit after tax at VND 314.93 billion and VND 251.07 billion, respectively. In 2021, the Company targets VND 2,335 billion in pre-tax profit and VND 14,270 billion in cumulative pre-tax profit of 2019-2023, corresponding to a 51% CAGR (for the residential real estate segment alone).
Phat Dat’s strong growth also made the ticker PDR “soar beyond limits” on the stock market, attracting the attention of investors and foreign funds. Thus, PDR is one of the most noticeable commodities in the VN30 Index and a positive contributor to the overall gain of the VN-Index.
As of 11th June 2021, PDR’s shares were traded at VND 87.400/share, up 108% compared to the beginning of 2021 and 354% compared to that of last year (11th June 2020). This price also elevated PDR’s market capitalization to VND 42,543 billion or USD 1.85 billion, adding over USD 700 million since February 2021. These figures strongly demonstrate market sentiments and investors’ confidence in PDR’s speedy and sustainable growth.
Being in the group of 20 leading enterprises in the “2021 Top 50 Prestigious and Effective Public Companies” not only displays PDR’s strong position in the industry and advancement on a solid foundation but also enriches the Company’s collection of prestigious awards in the past 17 years.
For the first half of 2021, Phat Dat has been recognized in a series of prestigious rankings such as Top 10 Most Reputable Property Developers 2021 and Top 50 Vietnam Best Growth 2021 by Vietnam Report, Vietnam’s 50 Best-Performing Companies and Vietnam’s 50 Best-Performing Companies in a Decade by Nhip Cau Dau Tu Magazine, Top 10 Developers for two consecutive years 2020 and 2021 announced by BCI Asia Award, etc.
Previously, Phat Dat also received awards honoring listed companies such as Top 3 IR Award 2018, Top 10 Best Annual Report – Large Cap Group in 2019, and 2020 Outstanding Progress Award – Corporate Governance category by HCM City Stock Exchange (HOSE), the Hanoi Stock Exchange (HNX), and Vietnam Investment Review Magazine.
