How are the loans and inventories of housing actual property companies ‘blooming’?

Complete debt elevated by 5% in comparison with the start of the interval

In accordance with the statistics of Accomplice, 19 residential actual property enterprises with whole debt as of June 30 was 113,539 billion dong, up 5% in comparison with the start of the 12 months. During which, 2 enterprises with whole debt of over 10,000 billion VND are Novaland (HoSE: NVL) and Vinhomes (HoSE: VHM). Loans from these two enterprises accounted for 65% of the overall loans of the teams of corporations listed.

How are the loans and inventories of housing real estate businesses 'blooming'?  - Photo 1.

Novaland has debt of 51,303 billion dong, up 5% in comparison with the start of the interval. Within the debt construction, 35% is short-term debt, the remainder is long-term debt.

For Vinhomes, the overall debt of the enterprise has decreased by 8% in comparison with the start of the interval, to 22,862 billion dong. Debt construction is sort of balanced between short-term and long-term debt.

Cen Land (HoSE: CRE) noticed the most important improve in whole debt, up 160% to VND2,137 billion. Through the interval, the corporate elevated short-term loans of VND 454 billion from BIDV – Thai Ha department, VND 109 billion from BIDV – Thanh Xuan department, and VND 248 billion from Century Actual Property Improvement and Funding JSC. Lengthy-term debt incurred 500 billion VND from VNDirect Securities Firm by the type of non-public bond issuance, time period of three years.

How are the loans and inventories of housing real estate businesses 'blooming'?  - Photo 2.

Some companies have lowered debt reminiscent of Quoc Cuong Gia Lai (HoSE: QCG, down 5%), TTC Land (HoSE: SCR, down 21%) or Phat Dat (HoSE: PDR, down 27%). If TTC Land reduces long-term debt by VND 400 billion from bonds, Phat Dat reduces short-term debt by VND 900 billion from financial institution loans, bonds and different events.

By way of debt/fairness ratio, 4/19 enterprises with outcomes better than 1 instances are Novaland (1.29 instances), Ha Do (HoSE: HDG ; 1.53 instances), Van Phu – Make investments (HoSE: VPI ; 1.07 instances) and An Gia (HoSE: AGG : 1.04 instances).

Inventories of greater than 217,680 billion VND from 19 enterprises

Stock worth of 19 enterprises is greater than VND 217,680 billion, up 11% in comparison with the start of the 12 months. Some enterprises have main inventories reminiscent of Novaland, Vinhomes, Nam Lengthy (HoSE: NLG) or Phat Dat. Inventories are primarily in unfinished initiatives, anticipated to be accomplished sooner or later.

How are the loans and inventories of housing real estate businesses 'blooming'?  - Photo 3.

Unit: billions dong

Novaland has the main stock with VND 103,241 billion, almost three instances larger than the second firm, Vinhomes. During which, 94,730 billion VND is actual property below development, 8,402 billion VND is accomplished actual property on the market. The corporate has no notes for stock initiatives.

At Vinhomes, actual property on the market is below development with greater than VND 31,635 billion, coming from initiatives reminiscent of Vinhomes Grand Park (HCMC), Vinhomes Sensible Metropolis, Vinhomes Ocean Park (Hanoi) and different initiatives. The corporate has greater than 1,000 billion VND of accomplished development actual property, down 440 billion VND in comparison with the start of the 12 months.

Nam Lengthy’s stock worth is greater than VND 14,009 billion, accounting for 70% of whole property. Inventories are primarily unfinished actual property initiatives being carried out by the corporate reminiscent of Izumi (Dong Nai), Akari Metropolis (HCMC) or Paragon Dai Phuoc (Dong Nai), Waterpoint section 1 (Lengthy An).

At Phat Dat, stock was recorded in plenty of initiatives within the switch course of that haven’t been accomplished for a few years, reminiscent of EverRich 2 and three (whole VND 4,481 billion). As well as, the corporate has plenty of new initiatives by M&A reminiscent of Binh Duong Tower (Binh Duong, almost 1,600 billion VND), Phuoc Hai (Ba Ria – Vung Tau, almost 1,400 billion VND)…

Some enterprises with stock/whole property over 50% reminiscent of Phat Dat, Khang Dien (HoSE: KDH), Quoc Cuong Gia Lai (HoSE: QCG), An Gia (HoSE: AGG), Nam Bay Bay (HoSE: NBB) or Tu Liem Home (HoSE: NTL).

Kong Chiem

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