Novaland returned to a trillion-dollar profit

The unaudited consolidated financial statements of Novaland Group (NVL) show that profit after tax for the whole year 2025 reached nearly 1,819 billion VND. This is a great improvement compared to the record loss of VND 4,395 billion in 2024. The enterprise is making the highest profit since 2022.

Profit improved sharply but revenue decreased by more than 23%, recorded around 6,965 billion VND. Of which, net revenue from sales accounted for 6,365 billion VND, recorded from handovers at projects such as NovaWorld Phan Thiet, NovaWorld Ho Tram, Aqua City, Sunrise Riverside, Palm City…

However, this period’s cost price decreased by more than 72%. Thanks to that, the company has a gross profit of nearly 4,488 billion VND, 53 times higher than the previous year. Gross profit margin was raised to more than 64.4%. Adding financial revenue and subtracting regular expenses, NVL has a net profit from business activities of more than 2,025 billion VND, while in the same period it was negative more than 676 billion VND.

This period’s financial statements recorded a large fluctuation in other income when this item increased more than 5 times to about 2,174 billion VND. In particular, collection of fines for contract violations was 2.7 times higher than the same period last year, reaching 895 billion VND. In addition, Novaland also recorded more than VND 1,271 billion in refunding late tax payment penalty costs, while 2024 did not appear.

The company said that in the fourth quarter of 2025, it recorded the reversal and adjustment of provisions related to the payable rent and land use obligations of the Lakeview City project. This is one of the first projects in Ho Chi Minh City to be resolved using a special mechanism according to Resolution 170/2024. The above fine was the main reason for NVL’s record loss last year. By the end of the fourth quarter of 2025, the total provision obligation is VND 1,014 billion.

However, the company recorded more than VND 1,200 billion in other expenses. Most are fines and compensation due to contract violations. NVL does not specifically explain what the above clause is.

By the end of 2025, Novaland’s total assets reached VND 249,792 billion. Inventories recorded 153,392 billion VND, of which the value of land fund and projects under construction accounted for 94.2%. The remainder is completed real estate and real estate goods, completed real estate waiting to be handed over to customers.

This enterprise has a total loan balance of about 67,191 billion VND, of which short-term loans account for 31,518 billion VND, slightly reduced because Novaland has reduced part of its outstanding bond debt. Meanwhile, long-term loan balance increased due to the disbursement of many new loan packages and additional financial resources to speed up project implementation. The company said it is continuing to implement many solutions to restructure, reduce cash flow pressure and strive to ensure benefits for stakeholders.

In 2025, Novaland has delivered 952 products from projects. Accumulated to the end of last year, NovaWorld Phan Thiet has delivered nearly 1,500 products, of which 750 units have been fully furnished and put into operation for rent. Aqua City has delivered more than 1,000 products, nearly 2,400 real estate properties are eligible to sign sales contracts. NovaWorld Ho Tram has delivered nearly 600 products.

Over the past year, thousands of products at Novaland projects have been certified. During the 2025-2026 period, the company expects to have more than 10,500 pink books issued to residents at projects such as The Sun Avenue, Kingston, Sunrise City North, Garden Gate, Lexington, Lucky Palace, Tropic Garden 1, Tresor, Rivergate, Orchard Garden, Golden Mansion, Lakeview City…

After announcing business results, NVL shares closed today’s session at 13,000 VND per unit, increasing at full range. The market price has improved compared to previous declining sessions, but compared to the beginning of the year, this code is moving sideways.