Phat Dat Realtor Service & Sales Center specializes in consulting & distributing real estate projects in Ho Chi Minh City and neighborhood.
Phat Dat Realtor Service & Sales Center specializes in consulting & distributing real estate projects in Ho Chi Minh City and neighborhood.
Phat Dat Real Estate Joint Stock Company, formerly known as Phat Dat Housing Construction and Trading Joint Stock Company, was established in 2004 in the form of a Joint Stock Company.
– October 2006: Commencement of The EverRich 1 project with a total area of 10,000 m2, total investment of 1,100 billion VND and profit after tax of 500 billion VND (PDR handing over the apartment 1.5 months ahead of schedule).
– In February 2008, Phat Dat Construction and Housing Trading Joint Stock Company officially changed its name to Phat Dat Real Estate Development Joint Stock Company.
– 2010: Commencement of The EverRich 2 project with a total project land area of 112,585 m2; total investment is estimated at 11,073 billion VND.
– On 22/07/2010 received the decision No. 154/QD-SGDTPHCM on the listing of shares on the Ho Chi Minh City exchange. July 30, 2010 is the first trading day of PDR on HOSE.
– 2014: Deploying The EverRich 3 project with a total project land area of 122,162 m2; total investment is expected to be 12,380 billion VND.
– In 2015: Deploying the construction of The EverRich Infinity apartment project with a total land area of 8,048 m2; total investment of 1,400 billion VND.
– In 2016 cooperated with T.A.M Service Trading Investment Joint Stock Company to implement the 239 CMT8 Office Building Project, HCMC.
– June 7, 2017: Charter capital increased to VND 2,220 billion.
– June 5, 2018: Charter capital increased to VND 2,664 billion.
– In 2018: PDR entered the Top 3 IR Awards 2018 voted by investors, ranked 54th in the Top 500 fastest growing enterprises in Vietnam according to Vietnam Report’s ranking.
– By the end of 2018, PDR has invested in the projects The EverRich 2 is 8,318 billion VND, The EverRich 3 is 2,357 billion VND, The EverRich Infinity is 1,638 billion VND…
– By the beginning of 2019, PDR owns a land bank with a total area of over 400 hectares in Ho Chi Minh City and other urban areas.
– May 14, 2019: PDR’s charter capital increased to VND 3,276.5 billion.
– In 2019: PDR entered the Top 3 Listed Companies with the Best IR Activities 2019 (IR Awards 2019) voted by financial institutions and Top 10 Prestigious Listed Enterprises 2019.
– May 18, 2021: Charter capital increased to VND 4,867,719,160,000.
In 2020, PHAT DAT GROUP recorded VND 1,220 billion in profit after tax (+40% YoY), the highest in the past 3 years thanks to the handover of subdivisions 2 and 9 of Nhon Hoi project in Binh Duong province. Dinh. In the first quarter of 2021, PDR earned VND 251 billion in after-tax profit (+60% YoY), the highest ever thanks to the continued handover of subdivision 9 of Nhon Hoi project, Binh Dinh.
In 2021, we forecast that PHAT DAT GROUP will record VND5,147 billion in revenue (+31.6% YoY) and VND2,061 billion in profit after tax (+68.9% YoY) thanks to the handover of a part of the high-rise residential area. Areas 4 and 9 at Nhon Hoi project. Besides, we also expect PDR to forecast about 600 billion in financial revenue from Binh Duong Tower project in Q3.
Phat Dat currently holds nearly 470 hectares of land fund, concentrated in localities with great potential for tourism or economy such as Binh Dinh, Quang Ngai, Binh Duong, Ba Ria – Vung Tau, Phu Quoc, and Da Nang. We think this is a reasonable direction for PDR in the context that the real estate situation in Ho Chi Minh City has slowed down for many years and the land prices in the surrounding provinces are changing positively.
PHAT DAT GROUP continues to promote development based on core competencies to actively and flexibly use financial resources; at the same time, creating a stable and sustainable cash flow for the Company in the long term.
As of the end of the first quarter, Phat Dat owned nearly 470 hectares of land bank, mainly in Phu Quoc (179 hectares), Binh Dinh (159.35 hectares), Ba Ria – Vung Tau (51.53 hectares), Quang Ngai (44 hectares). .17 ha), Binh Duong (8.2 ha) and Ho Chi Minh City (25.59 ha). In recent years, the development of real estate projects in Ho Chi Minh City often encounters legal problems, the time to complete the project documents is long, while the interest rate on bank loans is also low. constraint…. In that context, PHAT DAT GROUP quickly changed its strategy, shifted to the central provinces and the suburbs of Ho Chi Minh City, concentrated in locations with advantages of large land bank, quick legal procedures. and has potential for tourism or industry. At the same time, help PHAT DAT GROUP accelerate cash flow to achieve business goals.
In Binh Duong province, PHAT DAT GROUP is currently implementing 2 residential projects for the high-end segment in Thuan An city. In which, the most notable is the Astral City apartment and commercial complex project, which is expected to open for sale in the fourth quarter of 2021 with a prime location: located near the city’s administrative center, 2 commercial centers, and 3 industrial zones. At the same time, the Astral City project has been committed to wholesale for Danh Khoi Group. In addition to Astral City, PHAT DAT GROUP has also acquired the Binh Duong Tower project with an area of 4.5 hectares; Construction is expected to start in the first quarter of 2022 and hand over at the end of 2023.
In addition to projects in Ho Chi Minh City and the central coastal provinces, PHAT DAT GROUP in recent years has begun to expand into the field of resort real estate in provinces with potential for tourism development such as Ba Ria – Vung Tau. Vessel (27.53 ha) and Phu Quoc (179.46 ha). This is a strategy in the new phase of PHAT DAT GROUP when tourism demand is prevailing in the tourism and resort real estate model.
Specifically, in Ba Ria – Vung Tau, PHAT DAT GROUP owns 3 projects that are planned to be a hotel and resort apartment complex. Land prices in this area have increased by 50% compared to the end of 2018 and we believe that the price level will continue to increase in the future thanks to a series of surrounding infrastructure projects such as: Long Thanh airport, Bien Hoa highway – Vung Tau, Ben Luc – Long Thanh expressway, expanding 42m coastal road from Vung Tau to Lagi Binh Thuan.
In Binh Dinh, the current highlight is the Nhon Hoi eco-tourism urban area project with an area of 116 hectares, including 3 subdivisions: zone 4, subdivision 2, and subdivision 9. These projects in Nhon Hoi all have prime location, located right on the sea, highway 19B, adjacent to FLC Quy Nhon project, Nhon Hoi Industrial Park…
In Phu Quoc, PHAT DAT GROUP currently has projects including: Ham Ninh project (138.85 ha); Vung Bau resort hotel complex (40.6 ha). In Phu Quoc, there is still a lot of room for development, especially being upgraded to a city in early 2021, we believe that the demand for real estate in Phu Quoc will continue to increase in the near future.
Currently, PHAT DAT GROUP is implementing 2 projects in the form of BT such as: Phan Dinh Phung Sports Center project and Investment project to build internal infrastructure in Zone I (Ancient Zone). In which, Phan Dinh Phung Gymnasium Project is paid for a number of land funds with a total area in District 1, Thu Duc City and Binh Thanh District…; while the Ancient Zone project is paid for by land funds in Thu Duc city.
In addition to the core business of residential real estate, Phat Dat now also invests in 3 new business segments: industrial park real estate, renewable energy, in order to create a stable income for the business. This is also a common trend of many real estate companies in recent times to create continuous cash flow
As for industrial park real estate, PHAT DAT GROUP currently owns 24 hectares at Cai Mep port, Ba Ria – Vung Tau province. This project is the first step of PHAT DAT GROUP to develop this type of business. It is expected that the project will start contributing revenue to Phat Dat in 2023. In 2021, Phat Dat has also signed a contract with partners. in Binh Duong, Dong Nai, Vung Tau to acquire a land fund of up to nearly 6,000 hectares to develop industrial parks, and especially in the near future, PHAT DAT GROUP will encroach further in Da Nang.
For the renewable energy segment, Phat Dat is currently in the research and development phase. It is estimated that there will be about 650 MW of wind power and 1,300 MW of solar power in the period from now to 2025. mainly concentrated in the central provinces such as Quang Ngai, Binh Dinh, Phu Yen … whose core capacity is real estate development to increase large land banks and potential for renewable electricity. We consider this to be a potential segment as the demand for electricity is still very much lacking and has not been fully met, from now to 2025. It is expected to bring PHAT DAT GROUP stable income and long-term for the business development in the following years.
For business and real estate services, Phat Dat has just established Phat Dat Realtor Company with the initial mission of offering Phat Dat’s products this year. In the development of the general situation, we assess that this segment will still need PHAT DAT GROUP to focus more investment to be able to compete with businesses in the same industry such as Dat Xanh (DXG VN) dominating the southern market. In addition, other large companies such as Vinhomes (VHM VN) or No Va Land (NVL VN) also have their own sales teams.
Phat Dat’s business picture in recent years has always grown steadily. In the period 2017 – 2020, revenue and profit after tax grew at an average of 36% and 41% per year, respectively. Notably, the revenue structure has changed markedly in recent years when gradually shifting from apartment real estate to land plots and townhouses. The advantage of selling land plots and townhouses is high profit margin and can be developed quickly, which is convenient in turning capital and accelerating cash flow; The projects of PHAT DAT GROUP under development all have prime locations, close to the sea; create favorable conditions for PHAT DAT GROUP to quickly sell out all products.
In 2021, PHAT DAT GROUP will continue to hand over subdivision 4 and subdivision 9 at Nhon Hoi project in Binh Dinh. Especially in the third quarter Phat Dat can record about 600 billion in financial revenue from selling shares in Binh Duong Tower project. Therefore, we forecast Phat Dat will earn about VND5,147 billion in revenue (+31.6% YoY) and VND2,061 billion in profit after tax (+68.9% YoY) in 2021.
In 2022, PHAT DAT GROUP is expected to hand over the remaining products in the high-rise area of subdivision 4 of Nhon Hoi project as well as record revenue from Astral City project committed to wholesale to Danh Khoi. By 2023, PHAT DAT GROUP will record revenue from Phuoc Hai project in Ba Ria – Vung Tau, Binh Duong Tower project in Binh Duong and Bac Ha Thanh project in Binh Dinh. Therefore, we forecast that revenue for 2022 and 2023 will be VND 8,026 billion (+55.9% YoY) and VND 11,086 billion (+38.1% YoY), respectively, and profit after tax will come to VND3,184 billion, respectively ( +54.5% YoY) and VND4,617 billion (+45.0% YoY).
PHAT DAT GROUP’s asset structure from 2018 onwards has changed positively when all debts have been paid off in 2017 thanks to cash flow from the transfer of 2 EverRich projects 2 and 3. As of the end of Q1/2021, PHAT DAT GROUP has only about VND 2,200 billion of debt (of which nearly half are bonds maturing in mid-2021). As a result, by the end of the first quarter, the debt ratios of PHAT DAT GROUP were low: debt-to-equity ratio reached 31.7%, while NVL was 142.3%, DXG was 65.7%, and VHM is 40.4%. Besides, in the second quarter, PHAT DAT GROUP has paid off 928 billion dong of short-term debt and 250 billion dong of long-term debt. It is expected that by the end of July 2021, debt will continue to be reduced to about VND 1,000 billion, showing the company’s efforts in controlling capital, reducing the proportion of debt to maximize profits. create a solid foundation for further growth goals.
In the period of 2021 – 2022, Phat Dat will continue to succeed with other subdivisions of Nhon Hoi project, Astral City project and Binh Duong Tower project. Phat Dat is one of the potential real estate businesses in the future with a large land bank in the Central region, favorable for development for other business types that Phat Dat is aiming for such as: industrial park real estate. industry and renewable energy.