According to its Q3 financial report, Kinh Bac reported a net profit of VND937 billion ($36.16 million) in July-September, triple that of the same period last year. Revenue reached VND3.19 trillion ($123 million), a 2.4-fold increase from a year earlier.

Kinh Bac’s management attributed the improvement primarily to growth in its industrial park business. The company also avoided losses from the disposal of real estate assets during Q3.

For the first nine months of 2026, Kinh Bac reported revenue of VND5.11 trillion ($197.29 million), up 4.2% year on year. Land and infrastructure leasing accounted for the largest share, contributing VND3.29 trillion ($127.09 million), or 65% of total revenue. However, this figure was down 10% from a year earlier.

Revenue from real estate transfers rose 75% year-on-year to VND1.21 trillion ($46.85 million), representing 23.7% of total revenue.

Despite the increase in revenue, the company’s nine-month net profit fell more than 23% year-on-year to nearly VND1.2 trillion ($46.31 million). The decline was mainly attributable to higher expenses, which outpaced the relatively modest revenue growth.

As of September 30, Kinh Bac had total assets of VND76.67 trillion ($2.96 billion), making it the third-largest listed real estate company in Vietnam by assets.

Inventory accounted for nearly half of total assets, reaching VND35.42 trillion ($1.33 billion). The company’s total financial borrowings stood at VND33.83 trillion ($1.31 billion).

Founded by entrepreneur Dang Thanh Tam in 2002, Kinh Bac focuses on industrial park infrastructure, industrial land leasing, ready-built factories, and urban real estate development.

According to its annual report, the company held 9,230 hectares of industrial land as of December 31, 2025, equivalent to 6.32% of Vietnam’s total industrial land market. It is also developing several social housing projects in Hai Phong, Bac Ninh, and Hanoi.

KBC shares closed up 1.38% to VND25,750 ($0.99) each on Tuesday.