Published Date: 28/04/2025
- In 1Q25, PDR recorded a significant yoy increase in revenue and qoq increase in profit, primarily driven by the continued handover of Bắc Hà Thanh project.
- We expect PDR’s profit in the 2025–2026 period to increase by 341%/ 86% yoy, respectively, driven primarily by the Bắc Hà Thanh and Thuận An 1 & 2 projects.
- We believe that the stock has partially priced in the dilution risks; therefore, we recommend an ADD rating with a target price of VND 18,300 per share.
