Trần Bá Dương’s property company posts VND 1.043 trillion in first-half net profit
Đại Quang Minh, a property company owned by Trần Bá Dương, reported net profit of VND 1.043 trillion in the first half of 2026, about six times the year-earlier level. The company continued to raise capital and prepare transport infrastructure and real estate projects; its debt exceeded VND 51.58 trillion at the end of June.
A financial report submitted to the Hanoi Stock Exchange by Trần Bá Dương’s Đại Quang Minh Real Estate Investment Joint Stock Company showed that pre-tax profit exceeded VND 1.5 trillion in the first half of 2026, more than eight times the year-earlier level. Net profit was VND 1.043 trillion, about six times the year-earlier level. The company handles the real estate business of Trường Hải Group (Thaco).
The company’s return on total assets was 1.06% in the first half, compared with less than 0.3% a year earlier; its return on equity rose from 0.73% to 2.21%. At the end of June 2026, undistributed profit stood at about VND 8.5 trillion, including nearly VND 4.07 trillion in profit recorded in 2025. Debt at the same time exceeded VND 51.58 trillion, including about VND 20 trillion in bank loans and VND 1.5 trillion in bond debt.
Founded in early 2011, the company works on road, port, railway, industrial park, urban development and real estate projects. Ownership figures disclosed in mid-2025 showed that Thaco held 77.5% of the company, while the family of Thaco chairman Trần Bá Dương held 22.5%. Since the start of 2026, the company has increased its charter capital from VND 18.2 trillion to VND 36.895 trillion.
During the capital increases, the company was preparing projects including the Red River Scenic Boulevard and metro lines connecting central Ho Chi Minh City with Long Thành Airport. In early 2026, it also restarted a component project in Ho Chi Minh City’s Sala urban area after an eight-year interruption.
A rendering of the northern section of Đại Quang Minh’s Sala urban area.（VietVance）
In early November 2026, the Ho Chi Minh City government handed the company four land plots totaling about 4.3 hectares in the Thủ Thiêm New Urban Area as payment under the BT contract to build Ba Son Bridge. The plots are planned for apartments, a multifunctional complex and an international hospital. Trần Bá Dương expects the company to start 42 projects and complete 12 in 2026; it plans revenue of VND 12 trillion and investment spending of more than VND 21 trillion.
Source: VietVance
