Song Da Urban reports substantial Q3 2025 profit increase

Song Da Urban Investment Construction and Development Joint Stock Company (SDU) disclosed its unaudited financial statements for Q3 2025, reporting a profit after tax of VND 348,610,826 for the parent company, a notable increase compared to VND 62,459,839 in Q3 2024. The cumulative profit after tax for the first nine months of 2025 reached VND 48,632,315,840, up from VND 434,474,205 in the same period last year. This growth is primarily attributed to increased revenue from house and office rental services.

Total assets for the parent company as of September 30, 2025, stood at VND 1,134,814,961,656, a slight decrease from VND 1,190,854,327,621 at the beginning of the year. Liabilities also saw a reduction, from VND 834,011,946,199 to VND 729,340,264,394, while owner's equity increased from VND 356,842,381,422 to VND 405,474,697,262 during the same period. The company attributes the overall positive financial performance to its revenue from office leasing and building management services.

Despite the positive results, the company noted that the economy and real estate market remained sluggish in Q3 2025, hindering new project implementations. Minimal business activities, capital constraints, and unsold inventory of completed investment products impacted operational efficiency during the quarter. The company confirmed compliance with Vietnamese Accounting Standards and relevant circulars from the Ministry of Finance.