Vingroup’s latest financial report shows a dramatic rise in earnings, making it a key story for anyone following Vietnam’s biggest listed company. Understanding how the conglomerate combines rapid growth with new business lines helps explain its market influence.

According to the company’s financial report, Vingroup’s revenue almost quadrupled year‑on‑year to VND150.58 trillion. The same report adds that real estate generated about VND98.5 trillion, which is over 65% of total revenue.

By the end of September, Vingroup held nearly VND107 trillion in cash and bank deposits, and it raised about $2.3 billion through bond issuance, preferred‑share sales and syndicated loans from international investors. These funds give the group strong liquidity for future projects.

VNDirect Securities estimates that real estate will remain Vingroup’s mainstay, contributing at least 50% of total revenue and profit over the next five years. Meanwhile, the group’s electric‑vehicle, infrastructure and energy businesses are expected to grow their combined share of revenue to 30%–40% in the long term.

Vingroup, through its subsidiaries, is involved in engineering, procurement and construction contracts for five urban railway lines in Hanoi, with a total value of about $49 billion. These projects illustrate the group’s push into large‑scale infrastructure.