VPI shares hit record high as nine-month net profit falls 16%

On November 12, 2026, shares of Công ty Cổ phần Phát triển Bất động sản Văn Phú (Văn Phú Invest) closed at VND 59,000 per share, up 1.9% and at a record high. More than 1.7 million shares traded that day, and the company’s market capitalization stood at VND 22.848 trillion. VPI shares have risen a cumulative 35% since they began climbing on October 19.

VPI shares reached a record high on November 12, 2026.（VietVance）

The company’s chairman, Tô Như Toàn, is an architect with a doctorate in business administration. In its early years, the company participated in build-transfer projects to obtain land in central Hanoi as consideration. It later expanded its property projects to Hải Phòng, Bắc Giang, Thanh Hóa and other locations, and obtained some land parcels as consideration in Ho Chi Minh City.

The company’s consolidated financial report for the third quarter of 2026 showed net revenue of VND 1.284 trillion for the first nine months, up 56% year on year, and gross profit of VND 482 billion, up 69%. Revenue came mainly from Vlasta Thủy Nguyên and the TT39-40 project in Hanoi’s Văn Phú urban area. However, after-tax profit for the nine months fell 16% year on year to VND 221 billion.

In the third quarter alone, net revenue fell 61% year on year to VND 155 billion, while after-tax profit dropped 83% to VND 20 billion. As of September 30, inventories stood at VND 6.948 trillion, up 32% from the start of the year and accounting for 42% of total assets. Outstanding borrowings were VND 7.617 trillion, up 21% from the start of the year.

Management said Vlasta Thủy Nguyên had sold 339 units as of September 30 and that the company planned to bring about 200 more units to market in the final months of 2026. It also planned to launch sales of Vlasta Premier Phú Hội in Huế in the fourth quarter. The company expects the two projects to boost cash flow toward year-end and ease pressure from inventories and debt.

Source: VietVance