Novaland lost more than 1,800 billion VND in 9 months, issued more than 1,900 pink books

(Dan Tri) - Cash flow is still difficult as Novaland is losing 1,820 billion VND. The bright spot in the period is that the company has 720 products actually handed over, 1,935 pink books issued.

No Va Real Estate Group Joint Stock Company ( Novaland , stock code: NVL) has just announced its business results for the first 9 months of the year, recording revenue of nearly 5,400 billion VND.

Of which, net revenue from sales reached nearly VND4,956 billion, up 33% over the same period last year, recorded from the handover of projects such as NovaWorld Phan Thiet, NovaWorld Ho Tram, Aqua City, Sunrise Riverside, Palm City...; net revenue from providing services reached VND442 billion.

However, the company's consolidated after-tax loss reached VND1,820 billion, mainly due to a decrease in financial revenue.

As of September 30 this year, Novaland's total assets reached nearly VND239,575 billion. Inventory recorded VND152,285 billion, of which the value of land fund and projects under construction accounted for 95.1%, the rest was completed real estate and real estate goods, completed real estate waiting to be handed over to customers.

Novaland's total outstanding loans are more than 64,000 billion VND, of which total short-term loans are about 32,000 billion VND.

Novaland is speeding up construction progress to improve cash flow (Photo: Investor).

The company’s cash flow is still facing many difficulties. Accordingly, Novaland said it is accelerating the completion of the project and handing it over to customers.

The company said that during the period, 720 products were actually handed over, and 1,935 pink books were issued. Specifically, at NovaWorld Phan Thiet, in the third quarter, the company informed that the Golf Villas and Florida 3.7 subdivisions had more than 1,500 products handed over, of which 750 units had completed interior and were put into operation for rent; and at Aqua City, more than 1,000 products were handed over to customers.

Regarding the certification activities this year, as of September 30, updates show that 1,935 pink books have been issued at projects...

On August 5, the Government Inspectorate announced the Inspection Conclusion on compliance with legal policies in the issuance and use of funds from individual corporate bonds in the 2015-2023 period for 67 issuers, including the Novaland group and related companies.

Responding to this, Novaland said that these are bond packages issued from 2015 to mid-2023, with a total outstanding debt of VND34,878 billion as of June 30, 2023. After the financial restructuring process in 2024-2025, the group has paid off VND15,319 billion, accounting for nearly 44% of the total outstanding debt, bringing the total outstanding debt of privately issued bonds to VND19,559 billion as of September 30.

Regarding the 24 bond packages mentioned in the Inspection Conclusion, Novaland said it had paid and settled 15 packages, with a total initial value of about VND 7,000 billion (accounting for 57.7% of the total initial debt); successfully restructured and extended 1 bond package worth VND 250 billion; maintained timely payment of 7 packages from legal revenue sources of the projects and 1 remaining overdue bond package (8.2% of the total initial debt) is also being paid in part, reduced from VND 1,000 billion to VND 833 billion, in the direction of consensus of bondholders.

Novaland representative said that they have seriously accepted the conclusion, proactively reviewed and processed each bond package. Up to now, most of the obligations have been completed, the remaining are also being implemented according to a clear roadmap to ensure maximum benefits for investors.

Regarding the contents related to the announcement of the issuance, Novaland said that there were some insignificant shortcomings and delays during the period of social distancing due to the Covid-19 epidemic, but they were quickly corrected, supplemented fully and accurately as soon as conditions allowed according to the provisions of law.

Novaland affirmed that the capital mobilized from the bonds was used for the right purpose and in accordance with the approved plan. The Group periodically reconciles debts and requires partners to report on the legal progress and business results of funded projects.

Regarding the content related to the transfer of capital contribution stated in the Inspection Conclusion, the enterprise emphasized that it was not related to previous transactions of the seller, and always required a commitment on the legality and legal ownership of the transferred capital contribution.

Source: https://dantri.com.vn/kinh-doanh/9-thang-novaland-lo-hon-1800-ty-dong-da-cap-hon-1900-so-hong-20251028103342322.htm