Coteccons secured VNĐ23 trillion (US$885.1 million) in new contracts in the first nine months of 2024-25 (until March 31, 2025). — Photo courtesy of the company

HCM CITY — Coteccons, one of Việt Nam’s leading general contractors, secured VNĐ23 trillion (US$885.1 million) in new contracts in the first nine months of 2024-25 (until March 31, 2025), swelling its order book to nearly VNĐ37 trillion ($1.4 billion).

The company attributed this growth to the country’s economic rebound and accelerated public spending, which has helped revive the construction sector.

Sustained foreign direct investment in manufacturing and real estate also continues to create favourable conditions for contractors like Coteccons.

In the third quarter Coteccons got several repeat contracts, including the main construction package for The 9 Stellars by SonKim Land and Gia Binh Airport.

Regular clients accounted for some 69 per cent of the order book, a testament to the company’s execution capabilities.

Following successful collaborations with Ecopark on projects such as Ecopark Sky Residences, Swan Lake Onsen and Eco Central Park Vinh, Coteccons has been entrusted with the Eco Retreat Long An project.

It is also executing new projects for Sun Group and collaborating with new clients on developments like The Global City and Masteri Lakeside by Masterise Homes, and Ray River Resort by Ray River Estates.

In addition to its core construction business, Coteccons has also expanded into infrastructure and public investment projects, including the Long Thành International Airport phase 1 (parking facility) and a National University HCMC subproject.

In the third quarter Coteccons achieved consolidated revenues of over VNĐ5 trillion ($192.4 million), a 7.2 per cent year-on-year increase, driven by accelerated project delivery and expanded construction activity. 

Its net profit was VNĐ57 billion.

For the fiscal year to date Coteccons reported revenues of VNĐ16.6 trillion and net profits of VNĐ255 billion, up 15.2 per cent and 5.8 per cent.

The gross profit margin improved to 3.12 per cent in the third quarter from 2.93 per cent during the previous quarter following cost optimisation and improved project execution efficiency.

In a notable milestone, Coteccons (ticker: CTD) was added to the VNDiamond Index in the April 2025 review by the Ho Chi Minh Stock Exchange.

The VNDiamond Index features high-quality “blue-chip” stocks with high foreign ownership limits and is closely tracked by both domestic and international ETFs.

Coteccons’ inclusion signals strong financial performance, enhanced transparency, improved corporate governance, and rising stock liquidity following its restructuring. — VNS