Vinhomes (VHM) Targets VND 250 Trillion Revenue for 2026, Leading Real Estate Guidance Surge

Overview

Vinhomes (VHM) has set a 2026 revenue target of VND 250 trillion, representing a 63.1% increase year-on-year, according to its 2026 Annual General Meeting of Shareholders (AGM) documents. This announcement is part of a broader trend where major Vietnamese real estate developers, including Sunshine Group (KSF) and Novaland (NVL), have disclosed aggressive growth targets for the year, signaling a concerted push for sector recovery and expansion.

Key Facts

• Vinhomes (VHM) targets 2026 revenue of VND 250 trillion, a 63.1% increase compared to the previous year.
• Sunshine Group (KSF) aims for 2026 revenue of VND 40 trillion, an 87.4% year-on-year rise, and plans to accelerate M&A activities.
• Novaland (NVL) expects 2026 revenue of VND 22,715 billion, approximately triple the previous year’s figure, with net profit after tax of VND 1,852 billion.
• Đất Xanh Group (DXG) projects 2026 revenue of VND 5,000 billion and net profit after tax of VND 268 billion, up 19.3% and 16% respectively.
• The targets were disclosed in AGM documents for 2026, with plans hinging on new project launches and accelerated handovers.

What Happened

Leading Vietnamese real estate developers have unveiled ambitious revenue and profit targets for 2026 in documents prepared for their Annual General Meetings of Shareholders. Vinhomes JSC (VHM), the market’s largest property developer, plans to achieve VND 250 trillion in revenue, a 63.1% year-on-year increase. The company cited ongoing large-scale projects nationwide, such as Hạ Long Xanh in Quảng Ninh, Vinhomes Cần Giờ in Hồ Chí Minh City, and Vinhomes Cao Xà Lá in Hà Nội, which are scheduled for sales launches this year. Sunshine Group (KSF) followed with a target of VND 40 trillion in revenue, an 87.4% increase, and outlined plans to intensify merger and acquisition (M&A) activities to achieve this growth. Specifically, the group intends to invest in the Cẩm Đình - Hiệp Thuận ecological garden project in Phúc Thọ, Hà Nội, and acquire over 50% stakes in Big Gain Investment Company Limited and Bách Giang DCI Construction Investment Joint Stock Company. Novaland (NVL) also presented an optimistic business plan, targeting revenue of VND 22,715 billion and net profit after tax of VND 1,852 billion, with expectations to accelerate handovers at major projects like Aqua City and NovaWorld Phan Thiet.

Market Context

Vinhomes (VHM) shares on the Hồ Chí Minh Stock Exchange (HOSE) closed at VND 127 on April 14, 2026, up 3.34% on volume of 4.42 million shares, potentially reflecting early market reaction to the guidance. In contrast, Novaland (NVL) on HOSE closed at VND 17, down 1.16%, and Đất Xanh Group (DXG) on HOSE closed at VND 15, down 0.65%, indicating mixed sentiment across the sector. The announcements come as the Vietnamese real estate market shows signs of gradual recovery, with developers positioning for growth after a period of consolidation.

Strategic Significance

The guidance highlights a strategic pivot toward aggressive expansion and project execution by Vietnam’s top real estate firms. For Vinhomes, the target reinforces its dominance through scale and a diversified national project pipeline, while Sunshine Group’s focus on M&A suggests a strategy to rapidly acquire assets and market share. This collective move indicates confidence in underlying demand and a bet on the sector’s recovery, potentially driving increased competition and capital allocation toward high-growth segments like integrated townships and eco-tourism projects.

What to Watch

• Quarterly earnings reports from VHM, KSF, and NVL in 2026 to track progress against the announced revenue and profit targets.
• Sales launch timelines and uptake rates for key projects like Vinhomes Hạ Long Xanh and Sunshine Bay Retreat.
• Completion of Sunshine Group’s planned M&A transactions, including stakes in Big Gain and Bách Giang DCI.
• Handover acceleration at Novaland’s Aqua City and NovaWorld projects as a driver for revenue recognition.
• Broader market liquidity and policy developments affecting real estate sector financing and buyer sentiment.