TTC Land reports Q2 2025 profit, revenue up fivefold, achieves 101% of full-year target

Amid ongoing volatility in the real estate market, Saigon Thuong Tin Real Estate Joint Stock Company (TTC Land, HOSE: SCR) has marked an impressive recovery, announcing outstanding Q2 financial results with multiple growth metrics far exceeding expectations.

TTC Land’s Q2 2025 revenue surged fivefold compared to the same period last year

Revenue soared five times year-on-year, profits surpassed the full-year target in just six months, operating cash flow turned sharply positive, liquidity remained abundant, and the company maintained a healthy financial structure—all signaling that TTC Land is entering a new growth cycle on a solid foundation with a clear development strategy.

Revenue up 443%, strong profit recovery

According to the report, Q2 2025 net revenue reached VND 409 billion, up 443% over the same period last year. In the first half of the year, TTC Land recorded nearly VND 519 billion in revenue, up 359% year-on-year.

This strong performance was driven by multiple factors: on-time handover of the commercial podium at TTC Plaza Da Nang to AeonMall Vietnam, efficient operations at TTC Plaza Binh Thanh, and particularly robust growth in construction and industrial real estate–logistics. Rental service revenue reached VND 141 billion, nearly tripling year-on-year; construction services jumped to VND 160 billion; and merchandise sales—mainly from industrial real estate—soared more than tenfold to VND 142 billion.

Not only did revenue accelerate, but profit also rebounded impressively. In Q2, TTC Land posted pre-tax profit of VND 44.5 billion, nearly five times higher than the same period last year. Parent company net profit reached VND 29.4 billion, compared with a loss of VND 3.7 billion in Q2 2024. As of June, pre-tax profit had reached nearly VND 51 billion, achieving 101% of the company’s full-year profit target—a highly positive signal given the sector’s ongoing challenges.

On-time handover of the commercial podium at TTC Plaza Da Nang to AeonMall Vietnam generated substantial revenue in Q2 2025

Alongside its strong business performance, TTC Land’s financial position has strengthened, reaffirming its regained market standing. As of June 30, 2025, total assets stood at nearly VND 14 trillion, up almost VND 1.6 trillion from the start of the year.

The most notable increase was in investment property, up nearly VND 900 billion, resulting from TTC Land’s acquisition and long-term lease of an office building at 266–268 Nam Ky Khoi Nghia Street, Ho Chi Minh City—a prime location in the city’s financial hub. This transaction not only boosted asset value but also secured a stable long-term income stream.

TTC Land has already received over VND 660 billion in advance rent from this building for a five-year lease, raising deferred revenue to nearly VND 850 billion at the end of Q2—an increase of almost VND 800 billion compared to the start of the year.

Liquidity has also improved, with cash and cash equivalents reaching about VND 450 billion, the highest level in recent periods. Additionally, in late Q1 2025, TTC Land completed the acquisition of nearly 5 hectares of warehouses/factories for lease in Tay Ninh Industrial Park, adding another income-generating asset to its portfolio.

Financial expenses dropped significantly to VND 68.6 billion, with interest expenses reduced to VND 66.4 billion from VND 77.7 billion a year earlier. Despite increased business scale, operating costs remained well-controlled and nearly unchanged year-on-year. The debt-to-equity ratio stood at 0.75x, while debt-to-total assets was just 0.31x—both below industry averages and well under regulatory warning thresholds.

Healthy financial foundation, long-term growth orientation

Operational success has quickly been reflected in the stock market. SCR shares have risen 48% since the beginning of the year, from VND 5,680 to VND 8,380 per share, with peaks reaching VND 8,680—the highest in two years. Liquidity has surged, with average daily trading volume at 8 million shares, eight times higher than at the start of the year. Notably, foreign investors have returned as strong net buyers in June and July, signaling growing confidence in TTC Land’s growth prospects and development strategy.

At the 2025 mid-year business review conference, TTC Land’s management reaffirmed its commitment to an efficient growth strategy focused on sales, resolving legal procedures for key projects, and accelerating M&A deals.

Mr. Nguyen Thanh Chuong – Chairman of TTC Land’s Board of Directors – emphasized the spirit of “strong action, clear direction” for the next phase, underscoring the pivotal role of each business unit in transitioning to an efficient operating model.

Mr. Dang Van Thanh – Chairman of TTC Group – delivering his address at TTC Land’s 2025 mid-year business review conference

Speaking at the conference, Mr. Dang Van Thanh, Chairman of TTC Group, conveyed a message of close and continuous support. “TTC Land will become the flagship real estate arm within the TTC ecosystem. As a major shareholder, TTC will fully support the company to ensure it maintains a ‘green’ balance sheet—transparent and aligned with the trend toward sustainable development,” he affirmed.