VIETTEL CONSTRUCTION JOINT STOCK CORPORATION (TỔNG CÔNG TY CỔ PHẦN CÔNG TRÌNH VIETTEL): Sustained Growth from Vietnam’s Leading Infrastructure Contractor

VIETTEL CONSTRUCTION JOINT STOCK CORPORATION, known widely as VIETTEL CONSTRUCTION, is one of Vietnam’s most prominent construction and infrastructure solution providers. Founded in 2010 and headquartered in Hanoi, the company is a joint stock entity operating under Business ID and Tax Code 0104753865. It is majority owned by Viettel Group, Vietnam’s state-run telecommunications and technology conglomerate, giving it substantial institutional backing and strategic integration into national development projects.

VIETTEL CONSTRUCTION is publicly listed on the Ho Chi Minh Stock Exchange (HOSE) under the ticker CTR, and has evolved beyond a telecom-focused contractor into a diversified national player in civil, industrial, and high-tech construction. The company’s strategic direction is set by Chairman Do Manh Hung and executed by General Director Pham Dinh Truong, supported by a workforce of over 12,700 employees nationwide.

Financial Performance: Healthy Growth Across the Board

In 2023, VIETTEL CONSTRUCTION recorded USD 464.19 million in revenue, up 19.35% from the previous year. The company’s net profit reached USD 21.19 million, marking a 13.33% increase over 2022. These gains reflect its consistent ability to scale operations and manage costs effectively.

The company’s total assets climbed to USD 284.12 million, and owner’s equity reached USD 81.67 million, both posting double-digit annual growth. Importantly, working capital stood at USD 44.3 million, a healthy indicator of short-term financial flexibility and operational resilience in a competitive market.

Operations and Business Model

VIETTEL CONSTRUCTION’s origins lie in the development and maintenance of Viettel’s telecommunications infrastructure. Today, its activities span:

• Construction and operation of telecom infrastructure (BTS stations, transmission lines)

• Civil and industrial construction

• Mechanical and electrical (M&E) engineering

• Site preparation, demolition, electrical installation, and equipment repair

• Manufacturing of cement, refractory materials, and metal components

This vertically integrated model supports project control from engineering to execution, offering end-to-end infrastructure solutions that meet the needs of government and private clients alike.

The company maintains offices and branches in Hanoi and Ho Chi Minh City, enabling national coverage for large-scale deployments.

Risk Awareness and the Need for Business Intelligence

Despite its impressive growth, VIETTEL CONSTRUCTION operates in a capital-intensive, regulation-sensitive industry. Contractors of this scale are vulnerable to project delays, regulatory shifts, and payment cycles that can affect cash flow and profitability.

To navigate these risks, stakeholders—from partners and suppliers to institutional investors—should verify the company’s financial and legal status regularly. Independent sources like Vanguard Business Information (VBI) offer robust Business Verification Services and Risk Management tools, providing clarity into credit risk, solvency, ownership transparency, and operational efficiency.

Conclusion

VIETTEL CONSTRUCTION JOINT STOCK CORPORATION stands as a key player in Vietnam’s infrastructure development, consistently delivering strong financial results and maintaining national reach. As the company continues to expand across civil, industrial, and telecom construction, reliable monitoring of its financial performance and risk exposure will be critical to ensuring informed and secure collaboration.