Coteccons (CTD) targets 22% revenue growth in FY2027

Coteccons (CTD) targets 22% revenue growth in FY2027

Coteccons Construction JSC has set a revenue target of VNĐ42 trillion (US$1.6 billion) and net profit target of VNĐ1.05 trillion for the 2027 financial year (from July 1, 2026 to June 30, 2027), up 22 per cent and 34 per cent, respectively.

Bolat Duisenov, chairman of Coteccons Construction JSC, presents the company’s business results and growth targets at its annual general meeting on Tuesday. — Photo courtesy of CTD

The targets were approved at the company's annual general meeting on Tuesday.

For FY 2026, the company reported revenues and profits of VNĐ34.34 trillion and VNĐ788 billion, increases of 38 per cent and 73 per cent year-on-year well above targets.

Newly awarded contracts were worth VNĐ60.3 trillion, up 107 per cent, while the backlog stood at around VNĐ70 trillion, providing a solid foundation for furture growth.

Chairman Bolat Duisenov said the company had collected another VNĐ39.476 trillion in payments during the financial year on top of the revenues recognised in its financial statements.

For construction companies, completing a project represents only half the journey with the other half depending on their ability to collect payments from customers, he said.

In the first quarter of FY2027, Coteccons estimated revenues at nearly VNĐ11.3 trillion and net profits at VNĐ306 billion. Newly signed contracts were estimated at VNĐ14.52 trillion, down 25 per cent year-on-year.

Duisenov said the decline reflected the company's focus on discipline in business development, financial management and operations, with greater scrutiny of customers and projects rather than pursuing growth in scale alone.

Beyond its domestic operations, Coteccons is building a presence in international markets under its “Go Global” strategy, with around 150 Vietnamese engineers working at its overseas construction sites.

He said the company was laying the foundations for sustainable growth rather than expecting excessively high returns from these markets at the outset, and was confident that the segment would develop further over time.

Coteccons has also set a long-term revenue target of VNĐ68 trillion by FY2030 and aims to raise its return on equity (ROE) from 10 per cent in FY2026 to 15-18 per cent annually in the coming years.

Duisenov expressed confidence about the company's outlook, citing favourable market and economic conditions, trusted customers, and a talented workforce.

Beyond its core role as a general contractor, the company is diversifying into products and specialised services that support the construction industry, he said.

Coteccons also plans to explore the residential construction market, particularly the business-to-consumer segment, he said.

“By bringing our construction expertise directly to this market, we hope to address existing challenges, including construction timelines, and deliver greater value to customers.”

The company is also accelerating digital transformation and the adoption of artificial intelligence to improve on-site productivity and operational efficiency.

The AGM approved a cash dividend of 25 per cent, equivalent to VNĐ2,500 per share, funded from undistributed after-tax profits.

It also approved the issuance of up to 1.5 million shares under its 2026 employee stock ownership plan at VNĐ10,000 per share, along with other proposals. 

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