Becamex IDC approved 200-home sale: what it means for Becamex IDC stock

Published on 10/08/2026 at 12:13 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

For Becamex IDC stock, the deal means VND 1.012 trillion in contracts. MBS forecasts VND 3,970 billion profit for 2026.

Becamex IDC, VN000000BCM3, Illustration mit AI erstellt.

Becamex IDC (ISIN VN000000BCM3) had approved the sale of 200 Green City homes for VND 1.012 trillion on September 29, 2026, creating a concrete property transaction for the industrial real estate group. Tin nhanh chung khoan reported that Becamex IJC is the buyer and Becamex is the seller.

The deal carries VND 1.012 trillion

The approved contract covers 200 detached homes at Green City Binh Duong, with 28,791.6 square meters of land and 49,530.8 square meters of floor area. The transaction is a related-party deal because Becamex holds 49.76 percent of Becamex IJC, according to the same September 29 report from Tin nhanh chung khoan.

The transaction matters because it connects residential property recognition with Becamex's wider industrial and infrastructure portfolio. The project includes 1,394 planned homes, while delivery is scheduled to begin in 2026, giving the contract a direct link to the group's development pipeline.

MBS sees a sharp profit rebound

CafeF reported on September 26, 2026 that MBS forecast Becamex's third-quarter 2026 net profit at VND 1,817 billion, up 337 percent from the same quarter of 2025. The forecast assumes profit recognition from about 400 homes at the Hoa Loi resettlement project and 15 percent growth from joint ventures and associates.

MBS also projected full-year 2026 net profit of VND 3,970 billion. That estimate contrasts with Becamex's first-half performance: revenue fell 65 percent year over year to VND 1,661.8 billion, while net profit dropped 82.6 percent to VND 320.5 billion, according to Tin nhanh chung khoan on October 2, 2026.

Debt remains a central counterweight

As of June 30, 2026, Becamex carried VND 26,333.9 billion of short- and long-term borrowings, up 10 percent from the start of the year. Total liabilities reached VND 40,152.3 billion, while the company had completed 8.3 percent of its VND 3,883 billion full-year net profit target after six months.

The company also planned VND 10,230 billion of 2026 revenue, a 4.2 percent increase from 2025. The resulting investor question is whether property handovers and affiliate earnings can close the gap between the weak first half and MBS's VND 3,970 billion full-year forecast.