Nam Long is proudly named among Asia’s Best Under A Billion

Nam Long is the only Vietnamese company in the real estate industry to be honored by Forbes Asia, with a profit exceeding VND trillion for the first time in its history and a market value of billions of dollars (November 2021). Amidst negative impacts of the Covid-19 pandemic, in Q2, the company still had a good rebound with triple revenue and a 2.4x profit compared to the same period last year.

Forbes Asia has just announced the list of Asia’s Best Under A Billion 2022 including 200 listed companies. Vietnam has 3 companies named on the list of which Nam Long Group (HOSE: NLG) is the only real estate company.

The list is selected after screening almost 20,000 businesses, based on many index measurements such as debt, sales, growth on EPS in the last 1-3 years, as well as 1-5 year average return on investment per share. Besides quantitative measurements, qualitative criteria are also applied to evaluate corporate governance, accounting, work environment and legal issues. The list excludes state companies and its subsidiaries.

Per Forbes Asia description, Nam Long was established in 1992, headquartered in HCMC. The company became well known in the real estate industry by developing integrated township, and housing properties including apartments, villas, townhouses, offices, etc. In 2021, for the first time in history, Nam Long’s profit before tax surpassed a billion dollars with revenue doubled or tripled the previous years.

Nam Long also had a good rebound after the negative impacts of Covid-19 pandemic. In Q2, while other businesses struggled to maintain cash flow and develop projects, Nam Long achieved remarkable results. Gross revenue reached VND 1,240.7 billion, tripled from last year. Profit after tax was recorded at VND 111 billion, 2,4 times higher than the year before. Majority of the profit came from apartment handover in Akari City (HCMC) and Southgate (Waterpoint Long An, phase 1).

Efficient sales execution has been Nam Long’s greatest advantage in recent years and proven amidst Covid-19 pandemic. In the first 6 months, sales revenue totaled VND 8,410 billion, increased by 87% year to year, which resulted from 5 projects including Mizuki Park (HCMC), Izumi City (Dong Nai), Akari City (HCMC), Southgate (Long An) and Can Tho. Total prepayment and deposits from customers by June 30 were recorded at VND 3,543 billion, 44% higher than last year.

Aiming to become a sustainable integrated real estate developers by 2030

Nam Long’s first time on the list of Forbes Asia happens as the group celebrates its 30th year of establishment and development. During this time, Nam Long has developed 11 townships with more than 30,000 properties including EHome, Flora, Valora... and numerous luxury villas. The company has partnered with partners from Japan to build highly rated townships such as Southgate (Long An), Mizuki Park, Akari City (HCMC).

Waterpoint- Nam Long’s integrated township in Long An.

With a proactive approach towards sustainable growth, Nam Long not only plans for a year but at least 3-5 years, or even 10 - 15 years. Between 2021 and 2030, Nam Long intends to expand its business from affordable real estate to integrated mega townships with sizes up to hundreds of hectares in key economic areas, serving the strategic expansion of major cities. This means that Nam Long has diversified products in townships, launched new high end and mid end products, and maintained affordable products Ehome, Flora and Valora. The company has also expanded its core business into commercial real estate, township management, and integrated ecosystem investment.

To realize this vision, Nam Long's leadership aims to simultaneously deploy large townships Southgate 165 hectares (Waterpoint phase 1, Long An), Mizuki 26 hectares (HCMC), Izumi City 170 hectares ( Dong Nai), Nam Long Can Tho 43 hectares (Can Tho), Nam Long Dai Phuoc 45 hectares (Dong Nai), targeting sales revenue of USD 2 billion in the next 3 years. The company also owns a land fund of 680 hectares and is ready for suitable M&A projects in areas with developed traffic.

Nam Long’s motto "If you want to go fast, go alone, if you want to go far, go together" is shown in the cooperative work with experienced partners such as Nishitetsu, Hankyu Hanshin (Japan), TBS Group to develop products and integrated townships; and with contractors, strategic partners in the supply chain to save time, costs and improve efficiency in project development.

Source: Nam Long Group (HOSE:NLG)