Vietnam's leading builder Coteccons targets record revenue in FY2026 on property, industrial construction rebound
Coteccons Construction JSC (HoSE: CTD), one of Vietnam’s largest contractors, aims for record revenue of VND30 trillion ($1.14 billion) in its 2026 fiscal year, betting on a rebound in property and industrial construction demand after years of slowdown.
In documents released ahead of its AGM, the company set its revenue goal 20% higher than last year and projected net profit of VND700 billion ($26.5 million), up 54% year-on-year.
The forecast marks Coteccons’s strongest profit since 2020 and is close to pre-pandemic levels. Its fiscal year runs from July 2025 to June 2026.
Coteccons sets record revenue in 2026. Photo courtesy of the firm.
Coteccons’s chairman Bolat Duisenov said the firm plans to strengthen ties with key domestic clients while expanding cautiously overseas through existing customers and potential M&A deals.
The builder is currently working on factories in India and Indonesia, has completed projects in Myanmar and Laos, secured three large contracts in Taiwan, and obtained licenses to operate in the U.S., Kazakhstan, and Saudi Arabia.
For the 2025 fiscal year (ended June 30), Coteccons reported revenue of VND24.9 trillion ($942.3 million), up 18% year-on-year, and net profit of VND456 billion ($17.27 million), a 47% increase and the highest since 2020.
Analysts at Guotai Junan Securities Vietnam said the company’s restructuring and a gradual recovery in Vietnam’s property market have reactivated Coteccons’s growth drivers.
They expect Coteccons to surpass its previous revenue peak from 2017-2018, citing recovery in residential supply, strong FDI inflows, and easing trade tensions supporting industrial construction demand.
Coteccons is also expanding its infrastructure portfolio, winning major packages at the Long Thanh International Airport project in the southern province of Dong Nai.
Still, the company’s gross margin fell to 2.6% last year, below expectations, as rising material costs and tight competition in foreign-invested projects weighed on profitability.
CTD shares ended up 3% to VND80,500 ($3.05) each on Wednesday.
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