Novaland lost more than 1,800 billion VND after 9 months

(NLDO)- Novaland explained that the consolidated after-tax profit was negative VND1,820 billion, mainly due to a decrease in financial revenue.

On October 28, No Va Real Estate Investment Group Corporation ( Novaland ) announced its consolidated business results for the first 9 months of the year, with revenue reaching nearly VND 5,400 billion. Of which, net revenue from sales reached nearly VND 4,956 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 VND 442 billion.

However, consolidated profit after tax was negative VND 1,820 billion, mainly due to a decrease in financial revenue.

Novaland's project in Phan Thiet

As of September 30, 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.

By the end of the third quarter of 2025, Novaland's total outstanding debt will be more than VND 64,000 billion, of which total short-term debt will be about VND 32,000 billion. Cash flow is still facing many difficulties, but Novaland said it is making efforts to find solutions, continuing to negotiate restructuring options while implementing many practical solutions to meet due obligations, and trying to overcome outstanding shortcomings to ensure investor rights.

Source: https://nld.com.vn/novaland-lo-hon-1800-ti-dong-sau-9-thang-196251028093915282.htm