Song Da Urban reports strong 2024 profits, plans capital increase for real estate

Song Da Urban Investment Construction and Development Joint Stock Company's 2025 annual general meeting of shareholders approved key financial results and future plans. For 2024, the company reported total production and business value and investment of VND 68.579 trillion, generating VND 64.896 trillion in revenue. Profit before tax reached VND 5.562 trillion, with profit after tax at VND 1.216 trillion.

Looking ahead to 2025, the company projects a total production and business value and investment of VND 231.388 trillion and revenue of VND 130.153 trillion. Pre-tax profit is targeted at VND 74.828 trillion, with an after-tax profit of VND 59.828 trillion. Shareholders approved a plan to increase charter capital to meet investment needs for real estate projects, with an equity capital requirement of VND 412.000 billion for 2025.

The plan involves offering 10,000,000 common shares to existing shareholders at VND 15,000 per share, with an implementation ratio of 2:1. This aims to ensure a stable growth rate, expand investment in projects, and enhance the company's financial autonomy. However, the company noted outstanding tax obligations from 2024, affecting its ability to distribute dividends.