Amidst the volatile real estate market, Saigon Thuong Tin Real Estate JSC (TTC Land, Code: SCR) has marked an impressive recovery when announcing its second quarter financial results with a series of outstanding growth indicators.

TTC Land's Q2/2025 revenue increased sharply, 5 times higher than the same period last year. (Photo: TTC).
Revenue increased 5 times, profit exceeded the annual plan after only 6 months, positive cash flow from business operations, abundant liquidity and healthy financial structure - all show that TTC Land is entering a new growth cycle with a solid foundation and a clear development strategy.
Revenue increased 443%, profit recovered strongly
According to the report, net revenue in Q2/2025 reached 409 billion VND, an increase of 443% over the same period last year. In the first 6 months of the year, TTC Land earned nearly VND 519 billion, an increase of 359% compared to the first half of 2024. The positive results came from many driving forces: on-time handover of the TTC Plaza Da Nang commercial podium to AeonMall Vietnam, effective operation of TTC Plaza Binh Thanh and especially strong growth from the construction, industrial real estate - warehouse segment.
Of which, rental service revenue reached VND 141 billion, nearly tripled; construction services increased dramatically to VND 160 billion; and sales revenue - mainly from industrial real estate - increased more than 10 times, reaching VND 142 billion.
Not only did revenue accelerate, profits also recovered impressively. In the second quarter, TTC Land recorded pre-tax profit of VND 44.5 billion, nearly 5 times higher than the same period. The parent company's after-tax profit reached VND29.4 billion, while the same period last year saw a loss of VND3.7 billion. By the end of June, pre-tax profit had reached nearly VND51 billion, completing 101% of the annual profit plan, a very positive signal in the context of many difficulties in the industry.

The on-time handover of the commercial base of the TTC Plaza Da Nang project to AeonMall Vietnam brought in a large source of revenue in the second quarter of 2025 (Photo: TTC).
Along with the business results is an increasingly healthy financial picture, affirming that TTC Land is regaining its position. TTC Land's total assets as of June 30, 2025 reached nearly VND14,000 billion, an increase of nearly VND1,600 billion compared to the beginning of the year.
Most notably, the investment real estate item increased by nearly VND 900 billion, coming from the deal in which TTC Land completed the ownership and long-term lease of the office building at 266-268 Nam Ky Khoi Nghia, Ho Chi Minh City - a strategic location in the city's financial center. This deal not only increased the asset value but also brought in a stable long-term source of revenue. TTC Land received more than VND 660 billion in advance from the 5-year lease contract of this building, bringing the total unrealized revenue at the end of the second quarter to nearly VND 850 billion, an increase of nearly VND 800 billion compared to the beginning of the year.
Liquidity improved. Cash and cash equivalents reached about VND 450 billion, the highest in many recent periods. In addition, at the end of the first quarter of 2025, TTC Land also completed the ownership of nearly 5 hectares of warehouses/factories for lease in Tay Ninh Industrial Park, adding a source of accumulated assets that brings in a stable cash flow.
Financial expenses decreased significantly to VND68.6 billion, of which interest expenses were only VND66.4 billion compared to VND77.7 billion in the same period. Despite the increase in the scale of operations, operating costs were still effectively controlled, almost unchanged compared to the same period. The debt/equity ratio is currently 0.75 times; debt/total assets is only 0.31 times - lower than the industry average and far below the warning level as prescribed.
Healthy financial foundation, long-term development orientation
Operating efficiency has been quickly reflected in the stock market. SCR shares have increased by 48% since the beginning of the year, from VND5,680/share to VND8,380/share, at one point reaching VND8,680/share - the highest level in the past two years. Liquidity is strong, with an average of 8 million shares/session, 8 times higher than at the beginning of the year. In particular, foreign investors returned to net buying strongly in June and July, showing investors' interest in TTC Land's growth prospects and development strategy.
At the 6-month review conference in 2025, TTC Land's Board of Directors continued to affirm its effective development orientation, focusing on sales, resolving legal issues for key projects and promoting M&A deals. Mr. Nguyen Thanh Chuong - Chairman of TTC Land's Board of Directors emphasized the spirit of "strong action - clear orientation" for the next phase, while affirming the key role of each professional block in effectively transforming the operating model.

Mr. Dang Van Thanh - Chairman of TTC Group delivered a speech at the 6-month review conference in 2025 (Photo: TTC).
Speaking at the conference, Mr. Dang Van Thanh - Chairman of TTC Group, conveyed a message of close support. He affirmed: “TTC Land will become the real estate leader in the TTC ecosystem. As a major shareholder, TTC will fully support the Company to own a green, transparent balance sheet that is in line with the trend of sustainable development”.
According to Vietnamnet