Phat Dat Real Estate Development Corporation (stock code: PDR) has just announced its financial report for the first quarter of 2024 with net revenue reaching 162 billion VND, representing a 15.6% decrease compared to the same period last year. With the cost of goods sold and services provided at just under 1 billion VND, PDR’s gross profit reached 161 billion VND.
In the past period, Phat Dat recorded a post-tax profit that was 2.3 times higher than the same period, reaching 52.3 billion VND.
As of March 31, 2024, PDR’s inventories reached 12,302 billion VND, mostly from projects The EverRich 2, Thuan An 1, Thuan An 2, Phuoc Hai project, and The EverRich 3 project. PDR’s total assets in the period increased slightly to 21,428 billion VND.
Previously, sharing about its business orientation in 2024, Mr. Bui Quang Anh Vu, General Director of Phat Dat, said that Phat Dat will focus all its resources, especially financial and human resources, and is determined to boost sales activities with the expectation of reaching a large goal in terms of cash flow. As planned, Phat Dat will launch 4 key projects in Binh Duong, Con Dao, and Binh Dinh.
At the same time, Phat Dat has established a clear orientation in product development, focusing on factors such as: Favorable traffic location, focusing on potential markets, with available economic – social – tourism – and commercial vehicle growth drivers, as well as in markets with high product consumption demand. It is expected that these projects will generate revenue of about 40,000 billion VND this year. Regarding the outlook for 2024, Mr. Vu expressed confidence in the new cycle of the economy, with real estate still being a good investment channel. However, the market also needs management, orientation, and sustainability to bring benefits to many people.
“The real estate market in 2024 is still hesitant. Therefore, businesses with high readiness will restore the trust of investors. For Phat Dat, the business is determined to always take the initiative to find new opportunities to contribute to promoting the overall vitality of the industry,” shared the CEO of Phat Dat.
