Realty firm Phat Dat among top 50 public companies in Vietnam

Phat Dat Real Estate Development Corporation, listed on the Ho Chi Minh Stock Exchange as PDR, remains among the top 50 public companies in Vietnam for 2022, its second time in a row.

The award, granted by ranking firm Vietnam Report, honors public companies with outstanding financial strength, growth potential, sustainable development, quality in governance, and a strong foothold in their sectors.

PDR is among the six realty firms in the list. Other key players included giants in the sectors of banking, securities, pharmacies, food, and others.

The company is one of the businesses with market capitalization exceeding $1 billion and net profits above VND1,000 billion ($42.74 million).

"The results demonstrate Phat Dat’s power, adaptability, and ability to overcome challenges and grasp opportunities amid global economic uncertainties," the company said in a release.

By the end of last year, PDR’s market capitalization was over $2.1 billion. The firm made a pre-tax profit of VND1,105 billion ($47.24 million) in 2019, VND1,540 billion in 2020, and VND2,344 billion in 2021.

The developer targets to push its pre-tax profit to VND3,635 billion ($155.4 million) this year.

PDR runs a strong financial setting with the ratio of debt to equity at between 0.3x and 0.5x, lower than the real estate sector's average.

The company is pursuing sustainable growth and restructuring its investment portfolio. As such, it has not stopped expanding its land funds across the country.

PDF’s land fund currently reaches 7,404 hectares, which can fulfill the firm’s development plans for the next 5-10 years. Key products of the developer are houses and luxury resort and tourism products. Its major markets include Ho Chi Minh City, Ba Ria-Vung Tau, Binh Duong, Dong Nai, Binh Dinh, Danang, and Quang Ngai.