Novaland sets a business plan for 2025 with net revenue from real estate handover of VND 21,000 billion and after-tax profit of VND 1,400 billion.
In 2025, Novaland expects to make a profit of 1,400 billion VND, opening 2 new projects in Ho Chi Minh City
Novaland sets a business plan for 2025 with net revenue from real estate handover of VND 21,000 billion and after-tax profit of VND 1,400 billion.
In a recent report, Vietcap Securities reported on the content of the online investor meeting of No Va Real Estate Investment Group Joint Stock Company (Novaland, HoSE: NVL) held on February 27. The meeting content was to update on the debt restructuring situation, project development and plans for 2025.
Accordingly, Novaland set a business plan for 2025 with net revenue from real estate handover of VND 21,000 billion (up 153% compared to the previous year) and after-tax profit of VND 1,400 billion (loss of VND 4,300 billion in 2024).
Novaland is expected to hand over more than 3,000 products, of which NovaWorld Phan Thiet will contribute 31%, Aqua City will contribute 27%, NovaWorld Ho Tram will contribute 19% and projects in Ho Chi Minh City will contribute 23%.
In 2025, Novaland also plans to launch two new projects in Ho Chi Minh City, including Park Avenue and Palm City (high-rise). The management board expects to have construction permits for these two projects in March and June 2025, respectively, with plans to launch in the second and third quarters of 2025.
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| Novaland expects the Aqua City, NovaWorld Phan Thiet, and NovaWorld Ho Tram projects to have legal approval in the second quarter of 2025. |
Regarding the legal status of key projects, Novaland expects that Aqua City, NovaWorld Phan Thiet, and NovaWorld Ho Tram projects will have legal approval in the second quarter of 2025.
In particular, Aqua City will have its detailed planning adjusted to 1/500. NovaWorld Phan Thiet will pay land use fees once and grant construction permits for some subdivisions. NovaWorld Ho Tram will complete approval of component projects such as Binh Chau Onsen, Happy Beach and Long Island.
Regarding the Lakeview City and Water Bay projects (HCMC), these two projects are included in Resolution 170/2024 (effective from April 1, 2025) on specific mechanisms and policies to remove difficulties and obstacles for projects and land in the conclusions of inspections, examinations, and judgments in HCMC, Da Nang City, and Khanh Hoa Province. Novaland is waiting for more detailed instructions to resolve the legal issues of the project.
As for Lakeview City, the resolution proposes a plan to determine the land use fee (LURF) of the project, in which the LURF of more than VND 5,100 billion previously announced by the Ho Chi Minh City Tax Department is likely to be re-determined, which could help Novaland partially reverse the provision that the auditor requested to set up in the 2024 semi-annual audited financial report.
By the end of 2024, Novaland's total outstanding loans will be VND61,000 billion, up 5% compared to the end of 2023, mainly due to the disbursement of new bank loans to finance project construction.
Total debt maturing within 12 months reached VND36,000 billion, of which Novaland has a plan to handle domestic bank loans; for international loans and domestic retail bonds, there is a plan or is in the process of negotiating to extend from 2025 to 2026 - 2027.
Novaland's management board said that the remaining amount to be collected (based on the total number of units sold) is about VND98,000 billion (of which Aqua City accounts for 64%). The company expects to collect VND13,700 billion in 2025, most of which will be collected in 2026 and the remainder in 2027.
Source: https://baodautu.vn/nam-2025-novaland-du-kien-lai-1400-ty-dong-mo-ban-2-du-an-moi-tai-tphcm-d249806.html
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