VnREA: First quarter’s decline, selling price escalated

Real estate Green: Q1 net profit reached 151 billion, 5 times more than the same period

Dat Xanh Real Estate Services and Construction JSC (HoSE: DXG) has announced its consolidated financial statement for the first quarter of 2017, which recorded a net profit of more than 151 billion dong, five times more than the same period. last year.

Real estate has high interest rates in Q1 / 2017

Specifically, in the first quarter of 2017, net sales of Dat Xanh Real Estate reached 586.2 billion, up 86% over the same period last year. In particular, revenue from apartments and land sales continued to account for the largest share of VND314 billion, up 58% y / y. Revenue from brokerage services reached VND240.7 billion, up 174% y / y.

In the first quarter of 2017, Dat Xanh Real Estate achieved over VND 15 billion, doubling its revenue; The profit in affiliated companies was more than VND 30 billion, double the same period last year.

As a result, after tax profit of the company reached VND188.8 billion, up 6.4 times. Net profit was VND151.6 billion, five times higher than the same period last year.

As explained by Land Green Real Estate, the profit comes from the recognition of revenue from the LuxCity project, the profit was divided from the secondary investment projects and the growth in real estate brokerage over the same period.

The profit of Greenland in Q1 / 2017 comes from recognition of LuxCity project revenue

It is known that Dat Xanh Real Estate Board recently approved the acquisition of a 2.5ha project in Hiep Binh Chanh Ward, Thu Duc District, Ho Chi Minh City. HCM. At the same time, SaigonRes Riverside invested with VND712.5 billion, accounting for 75% of the investment capital.

At present, the total capital of Dat Xanh Real Estate at the end of Q1 / 2017 is more than VND6,127 billion, up 10% compared with the beginning of the period, of which more than VND1,594 billion in cash, accounting for 26% of total assets.

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