Vinhomes (VHM) Raises 2026 Profit Target to VND 60 Trillion, Plans 100% Stock Dividend

Overview

Vinhomes Joint Stock Company (VHM) has officially raised its 2026 business targets, aiming for consolidated revenue of VND 285 trillion and after-tax profit of VND 60 trillion. This represents a significant upward revision and includes a substantial dividend proposal and plans for sectoral expansion. The move signals aggressive growth ambitions from Vietnam’s largest listed real estate developer.

Key Facts

• Vinhomes targets 2026 consolidated revenue of VND 285 trillion and after-tax profit of VND 60 trillion.
• The new profit target represents a 38% increase compared to the VND 43.335 trillion profit achieved in 2025.
• The company proposed a 60% cash dividend per charter capital (VND 6,000 per share), requiring approximately VND 25 trillion.
• A 100% stock dividend is also planned, issuing approximately 4.1 billion new shares to raise charter capital above VND 80 trillion.
• Vinhomes’ Board of Directors seeks shareholder approval to expand business lines into energy (electricity production, transmission, distribution) and logistics (rail freight and passenger transport).
• In 2025, Vinhomes reported consolidated net revenue of VND 153.271 trillion, with VND 108.597 trillion from real estate transfer activities.
• The company completed its 2025 approved plan with after-tax profit growing 23.6% year-over-year.

What Happened

Vinhomes submitted an official disclosure document to adjust materials for its 2026 Annual General Meeting of Shareholders. According to the filing, the company has agreed on a business plan targeting VND 285 trillion in revenue and VND 60 trillion in after-tax profit for 2026. These targets represent increases of VND 35 trillion in revenue and VND 10 trillion in profit compared to previously announced plans. The VND 60 trillion profit figure would be unprecedented for any listed company on Vietnamese exchanges.

The company also outlined its profit distribution plan, proposing both substantial cash and stock dividends to be implemented in 2026. Additionally, Vinhomes’ Board of Directors presented shareholders with a proposal to expand the company’s business scope into energy and logistics sectors, specifically electricity production, transmission and distribution, as well as rail-based freight and passenger transport.

Market Context

Vinhomes (VHM) trades on the Ho Chi Minh City Stock Exchange (HOSE) and closed at VND 138 on April 15, 2026, representing a 6.83% gain with volume of 6.25 million shares. The announcement comes amid a broader trend of Vingroup ecosystem companies raising targets, with Vinpearl recently doubling its 2026 profit plan. The real estate sector has shown resilience despite broader market challenges, with Vinhomes maintaining its position as Vietnam’s largest listed property developer.

Strategic Significance

The revised targets and proposed sector expansion represent a strategic pivot beyond Vinhomes’ core residential development business. The energy and logistics diversification aligns with Vietnam’s infrastructure development priorities and could create synergies within Vingroup’s ecosystem. The aggressive profit growth target suggests confidence in both existing project pipelines and new business lines, potentially signaling a shift toward more integrated urban development and infrastructure services.

What to Watch

• Shareholder approval of the revised 2026 business plan and dividend proposals at the Annual General Meeting.
• Implementation timeline for the 100% stock dividend and capital increase to over VND 80 trillion.
• Regulatory approvals and operational plans for the proposed energy and logistics business expansions.
• Quarterly earnings reports throughout 2026 to track progress toward the VND 60 trillion profit target.
• Market reaction to the capital increase and potential dilution effects from the stock dividend.