Southern real estate giant records 33% revenue boost, focuses on accelerating project progress

In the first 9 months, Novaland recorded a total consolidated net revenue of VND5,398 billion. Of which, net revenue from sales reached nearly VND4,956 billion, up 33% over the same period last year.

The published information shows that Novaland Group Corporation (stock code: NVL) recorded VND 1,683 billion in net revenue, down 16.3% compared to the third quarter of 2024; however, with a 25% decrease in cost of goods sold, NVL's gross profit increased by 7.5% to VND 586 billion.

During the quarter, Novaland's financial revenue decreased by 88% year-on-year to VND456 billion, mainly due to a 90% decrease in interest from investment cooperation contracts to VND274 billion. Meanwhile, NVL's financial expenses increased by 354% to VND1,449 billion due to a sharp increase in interest expenses from investment cooperation contracts.

In the first 9 months of 2025, Novaland achieved many positive signals in revenue thanks to the handover of products at projects NovaWorld Phan Thiet, NovaWorld Ho Tram, Aqua City...

The decline in financial revenue and sharp increase in financial expenses caused Novaland to post a net operating loss of more than VND839 billion, far less than the profit of VND3,666 billion in the third quarter of 2024. Excluding taxes and fees, Novaland had a post-tax loss of VND1,153 billion in the third quarter of 2025, compared to a profit of VND2,950 billion in the same period last year.

In the first 9 months, Novaland recorded a total consolidated net revenue of VND5,398 billion. Of which, net revenue from sales reached nearly VND4,956 billion, up 33% over the same period last year. This revenue comes from the handover of NovaWorld Phan Thiet, NovaWorld Ho Tram, Aqua City projects... Net revenue from providing services reached VND442 billion.

Consolidated profit after tax recorded a loss of VND1,820 billion. According to Novaland's explanation, this result was mainly due to a decrease in financial revenue.

As of September 30, 2025, the Group's total assets reached nearly VND 239,575 billion. Inventory recorded VND 152,285 billion, of which 95.1% was the value of land funds and projects under construction.

Novaland's total outstanding loans are over VND64 trillion, of which short-term loans are about VND32 trillion. The company said its cash flow is still facing many difficulties and is continuing to negotiate restructuring options to meet its due obligations.

NVL's report said that in the first 9 months of the year, operations and construction activities at key projects recorded many positive changes.

At NovaWorld Phan Thiet, the Floria 3.6 subdivision is being accelerated for completion. The Golf Villas and Florida 3.7 subdivisions are also accelerating for handover. To date, the project has delivered more than 1,500 products, of which 750 units have been completed with interiors and put into operation for rent.

At Aqua City, construction activities are being carried out simultaneously across the entire project, focusing on the subdivisions Ever Green 2, River Park 2, Sun Harbor 2, Phoenix Island and completing the Nova Mall and Kid Zone facilities. To date, the project has delivered more than 1,000 products.

At NovaWorld Ho Tram, the Habana Island phase is in full swing. In Ho Chi Minh City, the Victoria Village project is accelerating all phases; The Grand Manhattan project is also being pushed forward with construction.

A bright spot in the first 9 months of the year was the issuance of ownership certificates (pink books). 1,935 pink books were issued at projects. Of which, The Sun Avenue project has nearly 550 products that have completed the issuance procedures. Novaland is also speeding up the issuance of certificates at other projects such as Lucky Palace, Orchard Garden, Sunrise City North and GardenGate.

Source: https://daibieunhandan.vn/ong-lon-bat-dong-san-phia-nam-ghi-nhan-cu-hich-doanh-thu-33-don-luc-day-nhanh-tien-do-du-an-10393265.html