KBC – Update – New land bank fuels growth momentum
Posted: Oct 23, 2025
- KBC has received investment approvals for several new industrial park (IP) and urban area projects. The new land bank provides a solid foundation for long-term growth;
- We forecast FY25-27F net profit (NP) growth of 317%/9%/26% yoy, driven by the commencement of key projects;
- We recommend ADD with a target price of VND 39,700/share, higher than our previous report, reflecting the approval of new projects.
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