Vinhomes (VHM) Targets Record 50 Trillion VND 2026 Net Profit, Leading Real Estate Guidance Surge

Overview

Vinhomes JSC (VHM) has announced a 2026 business plan targeting a record 50 trillion VND in net profit, a 15% year-on-year increase, according to a sector-wide report on corporate guidance. Sunshine Group (KSF) and other major listed real estate firms, including Taseco (TAL) and Khang Điền (KDH), have also disclosed ambitious profit targets, revealing a period of aggressive expansion and heightened competition within Vietnam’s property sector.

Key Facts

• Vinhomes (VHM) targets 50 trillion VND net profit for 2026, a 15% increase, which would be a historical record for the firm.
• Sunshine Group (KSF) aims for 15 trillion VND in pre-tax profit, up 33%, its highest-ever target, following the Sunshine Homes merger.
• Taseco (TAL) projects a 373% surge in profit to 2,512 billion VND, while Khang Điền (KDH) targets 1,500 billion VND, up 44%.
• Novaland (NVL) plans to triple revenue in 2026, though profit is expected to remain flat at 1,852 billion VND.
• IDICO (IDC) forecasts nearly flat profit at 2,903 billion VND, and Nam Long Group (NLG) expects a slight 3% rise to 720 billion VND.
• Văn Phú Invest (VPI) stands out with an 83% profit growth target to 720 billion VND.
• Vinhomes’ growth is driven by nationwide project launches, including Hạ Long Xanh in Quảng Ninh and Vinhomes Cần Giờ in Hồ Chí Minh City, with sales planned for this year.

What Happened

Major Vietnamese real estate companies have concurrently released 2026 business plans featuring substantial profit and revenue targets, as reported in a sector analysis. Vinhomes (VHM), the market leader, set the highest target with 50 trillion VND in net profit, a 15% increase from 2025. The company cited the rollout of large-scale projects like Hạ Long Xanh and Vinhomes Cần Giờ, with sales commencing this year, as key growth drivers. Sunshine Group (KSF) announced a pre-tax profit goal of 15 trillion VND, up 33%, marking its highest-ever target post-merger with Sunshine Homes. To achieve this, KSF plans to accelerate M&A activities, focusing on key projects such as the Cẩm Đình - Hiệp Thuận ecological garden area in Hà Nội and acquiring over 50% stakes in Big Gain Investment Company Limited and Bách Giang DCI Construction Investment JSC. The group also intends to launch new projects like Noble West Lake Hanoi and Sunshine Bay Retreat.

Market Context

Vinhomes (VHM) trades on the HOSE and closed at VND 131 on April 15, 2026, up 1.86% with volume of 1.6 million shares, reflecting positive sentiment ahead of the guidance release. IDICO (IDC), also on HOSE, closed at VND 48 on April 10, 2026, down 0.62%. The announcements come amid a broader real estate sector recovery, with firms diverging sharply in their growth trajectories—from flat projections at IDC to triple-digit increases at TAL—indicating investor focus on execution capabilities and project pipelines.

Strategic Significance

The guidance underscores a strategic shift toward volume-driven growth and project acceleration, particularly for market leaders like Vinhomes leveraging its scale in integrated townships. For mid-tier players, the variance in targets—from KDH’s profit growth despite potential revenue decline to NVL’s revenue tripling with stagnant profit—highlights differing approaches: some prioritize financial restructuring and legal clearance, while others bet on new launches and M&A. This divergence may intensify competition, favoring firms with strong balance sheets and timely execution.

What to Watch

• Quarterly earnings reports from VHM, KSF, and peers in 2026 to track progress against these ambitious targets.
• Sales launch updates for key projects like Vinhomes Cần Giờ and Hạ Long Xanh, and new launches from Sunshine Group.
• M&A completion and stake acquisitions by Sunshine Group in Big Gain and Bách Giang DCI.
• Financial restructuring outcomes and legal progress for Novaland’s major projects such as Aqua City and NovaWorld Phan Thiet.
• Broader sector indicators, including real estate credit growth and regulatory changes from the State Bank of Vietnam.