According to published information, Novaland Group Joint Stock Company (stock code: NVL) recorded net revenue of VND 1,683 billion, a decrease of 16.3% compared to Q3/2024; 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 income decreased by 88% year-on-year to VND 456 billion, mainly due to a 90% drop in profits from investment cooperation contracts to VND 274 billion. Meanwhile, NVL's financial expenses increased by 354% to VND 1,449 billion due to a sharp increase in interest expenses from investment cooperation contracts.
The decline in financial revenue coupled with a sharp increase in financial expenses resulted in Novaland incurring a net loss from business operations of over VND 839 billion, far below the VND 3,666 billion profit of Q3 2024. After deducting taxes and fees, Novaland reported a net loss of VND 1,153 billion in Q3 2025, compared to a profit of VND 2,950 billion in the same period last year.
For the first nine months of the year, Novaland recorded consolidated net revenue of VND 5,398 billion. Of this, net revenue from sales reached nearly VND 4,956 billion, a 33% increase compared to the same period last year. This revenue came from the handover of properties at projects such as NovaWorld Phan Thiet, NovaWorld Ho Tram, and Aqua City. Net revenue from service provision reached VND 442 billion.
Consolidated net profit after tax recorded a loss of VND 1,820 billion. According to Novaland's explanation, this result was mainly due to a decrease in financial income.
As of September 30, 2025, the Group's total assets reached nearly VND 239,575 billion. Inventory was recorded at VND 152,285 billion, of which 95.1% was the value of land and projects under construction.
Novaland's total outstanding debt is over 64 trillion VND, of which short-term debt is approximately 32 trillion VND. The company stated that cash flow remains challenging and it is continuing negotiations on restructuring options to meet its maturing obligations.
According to NVL's report, in the first nine months of the year, operational and construction activities at key projects recorded many positive developments.
At NovaWorld Phan Thiet, the Florida 3.6 subdivision is being completed at an accelerated pace. The Golf Villas and Florida 3.7 subdivisions are also accelerating handover. To date, the project has handed over more than 1,500 units, of which 750 have been fully furnished and are ready for rental.
At Aqua City, construction is being carried out simultaneously across the entire project, focusing on the Ever Green 2, River Park 2, Sun Harbor 2, and Phoenix Island subdivisions, as well as completing amenities such as the Nova Mall and Kid Zone. To date, the project has handed over more than 1,000 units.
At NovaWorld Ho Tram, the Habana Island phase is experiencing a surge in construction activity. In Ho Chi Minh City, the Victoria Village project is accelerating progress on all its components; the Grand Manhattan project is also seeing accelerated construction.
A highlight of the first nine months of the year was the issuance of land ownership certificates (pink books). A total of 1,935 pink books were issued across various projects. Of these, The Sun Avenue project alone had nearly 550 units with completed procedures for issuance. Novaland is also accelerating the issuance of pink books in 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
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