Vinhomes (VHM) Raises 2026 Net Profit Target to Record VND 60,000B (+38% YoY)

Overview

Vinhomes Joint Stock Company (VHM) has significantly raised its 2026 business plan targets, projecting a record net profit of VND 60,000 billion, an increase of VND 10,000 billion from its prior plan. The company also set a revenue target of VND 285,000 billion. Vinpearl Joint Stock Company (VPL), another entity within the Vingroup ecosystem, concurrently doubled its 2026 net profit target to VND 3,000 billion.

Key Facts

• Vinhomes (VHM) projects 2026 net profit of VND 60,000 billion, up VND 10,000 billion from its previous plan.
• The 2026 revenue target is VND 285,000 billion, a VND 35,000 billion increase from the earlier plan.
• Compared to 2025 results, this represents 86% revenue growth and 38% net profit growth.
• In 2025, VHM reported consolidated net revenue of VND 153,271 billion and net profit of VND 43,335 billion.
• Vinpearl (VPL) raised its 2026 net profit target to VND 3,000 billion, double its initial plan and about 2.7 times its 2025 result.
• VPL’s 2026 revenue target is VND 16,000 billion, as per documents released in early April.
• The adjustments were disclosed in supplemental materials ahead of Vinhomes’ Annual General Meeting scheduled for April 21, 2026.

What Happened

Vinhomes adjusted its 2026 business plan targets upward just one day before its scheduled Annual General Meeting on April 21, 2026. According to the company’s supplemental filing, the new targets include revenue of VND 285,000 billion and net profit of VND 60,000 billion. If achieved, this net profit would be the highest in the company’s history. The filing notes that the new plan implies 86% revenue growth and 38% net profit growth compared to the company’s 2025 results.

Separately, Vinpearl also updated its materials with a notable adjustment, doubling its 2026 net profit target to VND 3,000 billion from an initial VND 1,500 billion. This revised target is approximately 2.7 times higher than Vinpearl’s 2025 net profit result. Both companies are part of the ecosystem led by billionaire Phạm Nhật Vượng.

Market Context

Vinhomes (VHM) is listed on the Ho Chi Minh Stock Exchange (HOSE). Its share price closed at VND 138 on April 15, 2026, up 6.83% on volume of 6.25 million shares, potentially reflecting early market reaction to the guidance raise. Vinpearl (VPL), traded on HOSE, closed at VND 80 on April 14, 2026, with volume of 302,700 shares. The real estate sector in Vietnam has shown resilience, with Vinhomes’ 2025 performance exceeding its approved plan, driven by timely handovers at major projects like Vinhomes Ocean Park 2-3 and Vinhomes Grand Park.

Strategic Significance

The upward revision signals strong management confidence in execution capabilities and project pipeline visibility through 2026. For Vinhomes, the growth is anchored in its core real estate transfer business, which contributed VND 108,597 billion in revenue in 2025. The simultaneous target raise at Vinpearl suggests a broader positive outlook across Vingroup’s diversified operations, potentially reducing reliance on any single segment and supporting ecosystem synergies in tourism and hospitality.

What to Watch

• Official approval of the 2026 business plan at Vinhomes’ Annual General Meeting on April 21, 2026.
• Quarterly earnings reports from VHM and VPL throughout 2026 to track progress against the elevated targets.
• Handover schedules and sales velocity at key Vinhomes projects like Vinhomes Ocean Park 2-3 and Vinhomes Grand Park.
• Updates on Vinpearl’s operational performance and occupancy rates in its hospitality segments.
• Any further guidance adjustments or strategic announcements from Vingroup-affiliated companies.