Real Estate Chairpersons and CEOs See Significant Income Surge

Novaland Group (stock code: NVL) has announced its Q1-Q3 business results, reporting a consolidated net revenue of nearly VND 5,398 billion. However, the consolidated after-tax profit recorded a loss of VND 1,820 billion, primarily due to a decline in financial activity revenue.

As of September, Novaland employed 1,134 staff members, an increase of 41 compared to the end of 2024. During this period, employee and management expenses reached VND 240 billion, a 20% rise year-on-year. On average, each employee earned approximately VND 23.5 million per month, a VND 1.8 million increase from the previous year.

During the same nine-month period, Mr. Bùi Thành Nhơn, Chairman of Novaland’s Board of Directors, received a remuneration of VND 900 million, unchanged from the previous year. This equates to VND 100 million per month. Two other board members, Mr. Phạm Tiến Vân and Mr. Hoàng Đức Hùng, also maintained their remuneration at VND 450 million each.

Mr. Dương Văn Bắc, CEO of Novaland since November 2024, earned VND 3.6 billion, or approximately VND 400 million per month. This represents a significant 71% increase from the previous year when he served as Deputy CEO and CFO, earning nearly VND 2.2 billion.

Additionally, Ms. Trần Thị Thanh Vân, Deputy CEO of Novaland, received nearly VND 2.2 billion, and Mr. Cao Trần Duy Nam, also a Deputy CEO, earned approximately VND 2 billion during the first nine months of the year. This highlights a stark contrast between executive compensation and the company’s financial performance, especially as Novaland remains in a loss-making position.

In Q3, Dat Xanh Group (stock code: DXG) reported an after-tax profit of nearly VND 93 billion, triple that of the same period last year. For the first nine months, net profit reached nearly VND 223 billion, a 2.3-fold increase, achieving over 60% of the annual profit target.

As of September, Dat Xanh employed 3,516 staff members, an increase of 1,000 compared to the end of 2024. During this period, DXG spent approximately VND 415 billion on employee salaries, a nearly 67% increase, equivalent to an average monthly income of VND 13.1 million per employee, nearly VND 3 million higher than the same period last year.

In the first nine months, DXG allocated nearly VND 9.2 billion for remuneration to members of the Board of Directors, Supervisory Board, and Executive Board. Mr. Bùi Ngọc Đức, CEO of Dat Xanh, received nearly half of this amount, totaling VND 4.1 billion, or approximately VND 455 million per month.

In the first nine months of 2024, Mr. Đức earned VND 3.07 billion. Detailed income information for other Board of Directors members, Supervisory Board members, and Deputy CEOs was not disclosed by Dat Xanh.

Phat Dat Real Estate Development Corporation (stock code: PDR) reported a remarkable 19,380% surge in Q3 revenue compared to the same period last year, reaching over VND 506 billion, with after-tax profit nearing VND 86 billion, a 67% increase.

For the first nine months, Phat Dat recorded a net revenue of over VND 964 billion and an after-tax profit of over VND 201 billion, up 450% and 31% respectively compared to the same period last year. Gross profit margin stood at approximately 49%.

As of September, Phat Dat employed 238 staff members, a decrease of 48 compared to the end of 2024. In Q3, salary expenses exceeded VND 26 billion, a 7.7% decrease year-on-year. However, due to the reduced workforce, average employee income increased to approximately VND 36.7 million per month, VND 2.7 million higher than the same period last year.

Mr. Nguyễn Văn Đạt, Chairman of PDR’s Board of Directors, earned nearly VND 547 million, a 13% increase from the VND 485 million in Q3/2024. Mr. Nguyễn Tấn Danh, also a Board Chairman and Mr. Đạt’s son, saw a significant income increase from VND 150 million in Q3/2024 to VND 270 million this quarter.

Other Board members also experienced substantial income increases: Mr. Lê Quang Phúc from VND 122 million to VND 229 million, and Mr. Trần Trọng Gia Vinh and Mr. Dương Hảo Tôn from VND 120 million to VND 180 million.

Mr. Bùi Quang Anh Vũ, CEO of Phat Dat Real Estate Development Corporation, earned over VND 1.6 billion in Q3/2024, a 14% increase from the VND 1.4 billion in the same period last year.