Cen Land sets 2021 revenue target touching $175 million

March 29, 2021 | 12:54
(0) user say
Cen Land (HSX: CRE) has set revenue and profit targets for 2021 of VND4 trillion ($173.9 million) and VND355 billion ($15.4 million) with the aim of dominating the market from the beginning of the year.

In 2021, Cen Land, a top player in the northern real estate brokerage market, continues to expand its ecosystem and restructure its operations to promote development from now to 2023. To meet the needs of the market, Cen Land has been perfecting new subsidiaries in deploying potential quality products to meet customers' needs and boost the project portfolio in Vietnam.

cen land sets 2021 revenue target touching 175 million
Century Land JSC has just been honoured among the Top 10 Best Real Estate Brokers in 2020

Adding to its elite salesforce, Cen Land has recruited more sales consultants to improve the quality of its sales team. New sales forces are trained and classified for the right tasks and products. To improve professionalism in customer-facing operations, the company has also been building customer service teams specifically for domestic and foreign investors.

Cen Land is developing connected agencies across the country. This year, the connected agency development team set the revenue target of VND500billion ($21.74 million). In addition, Cen Land launched Cen Housing with over 1,000 realtors for the secondary and retail market, generating revenue of VND300 billion ($13 million).

In investment, Cen Land strengthens the investment department to promote the search, analysis and selection of investment opportunities so that the company can reach the target of doubling the annual growth in secondary investment from now to 2023

Recognising the important role of technology in its development, Cen Land has also invested in Cen Homes proptech platform and recruited more specialists to upgrade the platform with new technologies such as peer-to-peer connectivity, big data, and AI.

In its investment activities, Cen Land strengthened its investment department to promote the search, analysis, and selection of investment opportunities so that the company can acquire potential projects, with the target of doubling the annual growth in secondary investment from now to 2023. Moreover, Cen Land is looking for opportunities to expand the Cen X Space co-working space.

Cen Land plans to grow 89 per cent in revenue and 18 per cent in profit this year. Along with this, the company’s revenue in 2021 is expected to reach VND4 trillion ($173.9 million), in which revenue from real estate brokerage is VND1.551 trillion ($67.43 million), revenue from real estate transfer is VND2.372 trillion ($103.13 million). After-tax profit is VND355 billion ($15.43 million), signifying an 18 per cent jump on-year.

Positive results since the beginning of the year

Thanks to these strategic moves, Cen Land has recorded impressive business results since early 2021.

cen land sets 2021 revenue target touching 175 million

In 2021, Cen Land has envisaged raising capital to invest in large-scale projects. According to the report submitted to the shareholders before the company’s general annual shareholder’s meeting, Cen Land plans to increase its charter capital by VND1.06 trillion ($46 million) to surpass VND2 trillion ($86.96 million). This capital will be channelled into the Thanh Cong co-operative building project and Hoang Van Thu new urban area, among others.

To optimise operational efficiency, Cen Land is recruiting talents with attractive commission policies and salaries. Around 2,000 new positions for sales executives, managers, and directors will be opened at the company.

The company commits to offering competitive commissions immediately after 48 hours and 50/50 marketing cost support. Depending on the job position, salaries can range from VND6 to VND50 million ($260-$2,170) per month.

By Minh Hoa

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional