AsemconnectVietnam - Ha Noi South Housing and Urban Development Corporation (NHA - HOSE) recorded a profit of VND3.09 billion in the first nine months of 2026, achieving 6.2% of its ambitious annual profit target of VND50 billion.

In the third quarter of 2026, Southern Hanoi Housing and Urban Development Corporation recorded revenue of VND107.91 billion, a 10.9% increase compared to the same period last year; net profit after tax reached VND11.44 billion, a 59.3% decrease compared to the same period last year. The gross profit margin decreased from 39.6% to 13.1%.
During the period, despite increased revenue, due to a narrowing gross profit margin, Nam Ha Noi Housing and Urban Development recorded a 63.1% decrease in gross profit compared to the same period last year, equivalent to a decrease of VND24.31 billion, to VND14.19 billion.
In addition, during the same period, financial revenue increased by VND1.92 billion, to VND1.96 billion; financial expenses increased by 36.3% compared to the same period last year, equivalent to an increase of VND0.37 billion to VND1.39 billion; business management expenses increased by 13.3%, equivalent to an increase of VND0.32 billion to VND2.72 billion, and other activities showed insignificant fluctuations.
Cumulatively in the first 9 months of 2026, Nam Ha Noi Housing and Urban Development recorded revenue of VND127 billion, a decrease of 52.8% compared to the same period last year. Net profit after tax reached VND3.09 billion, a decrease of 96% compared to the same period last year.
In 2026, Nam Hanoi Housing and Urban Development plans to achieve revenue of VND260 billion and projected net profit after tax of VND50 billion.
Thus, with a net profit after tax of only VND3.09 billion after the first nine months of the year, Nam Hanoi Housing and Urban Development has only completed 6.2% of its annual plan.
Besides declining business performance, in the first nine months of 2026, Nam Hanoi Housing and Urban Development also recorded a negative cash flow from operations of VND69.2 billion compared to a positive VND54 billion in the same period. Furthermore, during the same period, investment cash flow was negative VND233.96 billion and financing cash flow was positive VND272.3 billion, mainly due to increased borrowing and additional share issuance.
As of September 30, 2026, the total short-term and long-term debt of Nam Hanoi Housing and Urban Development increased by 39.8% compared to the beginning of the year, equivalent to an increase of VND110.3 billion, reaching VND387.5 billion and representing 51% of total equity. Of this, short-term debt was VND156.8 billion and long-term debt was VND230.7 billion.
Source: VITIC/Bao Tai chinh – Dau tu