QP Holdings reports Q1/2026 results with revenue up 28%
Consolidated Q1/2026 revenue reached VND 4,180 billion while net profit increased 31% year on year.
QP Holdings reported consolidated revenue of VND 4,180 billion in Q1/2026, up 28% year on year, with net profit after tax reaching VND 612 billion, up 31%. The result reflects a recovery in the real estate market, stable contributions from industrial logistics, and tighter cost discipline across the broader ecosystem.
Key revenue contributors
Residential real estate remained the largest growth engine, contributing roughly 52% of revenue thanks to sales progress and handovers at urban projects. Logistics and industrial operations contributed 22%, supported by factory leasing, warehousing, and ancillary services in Southeast Vietnam. Renewable energy and supporting infrastructure accounted for 18%, with the remainder coming from services, building materials, and other investments.
Management said the first-quarter strategy centered on three priorities: preserving cash flow, completing legal work for key projects, and accelerating investments capable of generating recurring cash flow. As a result, gross margins improved, financial costs were better controlled, and working-capital efficiency outperformed the same period last year.
Financial resilience and risk governance
In a context of volatile rates and uneven market demand, QP Holdings maintained prudent leverage, prioritized longer tenors, and matched funding structure to project development cycles. The group also strengthened legal risk governance, construction-progress control, and standardized investment approval processes to improve transparency.
2026 outlook
The group maintains its full-year 2026 plan of VND 18,500 billion in revenue and VND 2,500 billion in net profit after tax. Key drivers include handover of existing projects, launch of new products, industrial real-estate monetization, and partnerships in smart cities, clean energy, and logistics.
First-quarter performance suggests QP Holdings is moving in the right direction: revenue growth accompanied by disciplined leverage, stronger asset quality, and long-term cash-flow creation.