Novaland earns more than 9,000 billion VND in 2024, handing over 1,422 products

In 2024, Novaland recorded total revenue of more than VND 9,000 billion, but the company still lost more than VND 4,300 billion due to provisions for the 2024 semi-annual reporting period according to the auditor's own opinion.

In 2024, Novaland recorded total revenue of more than VND 9,000 billion, but the company still lost more than VND 4,300 billion due to provisions for the 2024 semi-annual reporting period according to the auditor's own opinion.

No Va Real Estate Investment Group Joint Stock Company (Novaland; HoSE: NVL) has just announced its business results for the fourth quarter of 2024 with total consolidated revenue of VND 4,779 billion, including revenue from sales and service provision. Profit after tax was recorded at nearly VND 26 billion.

Accumulated for 12 months, Novaland's total consolidated revenue from sales and service provision was VND 9,073 billion. Of which, net revenue from sales reached nearly VND 8,356 billion, an increase of 104% compared to 2023, recorded from the handover of projects such as: NovaWorld Phan Thiet, NovaWorld Ho Tram, Aqua City, Palm City...;

In addition, the company also recorded VND 717 billion in net revenue from providing services.

In 2024, Novaland has made efforts to promote handover work at key projects, thereby handing over 1,422 products.

Revenue increased, but Novaland still recorded a full-year loss of more than VND4,300 billion, largely due to provisions for the 2024 semi-annual reporting period according to the auditor's own opinion.

As of December 31, 2024, Novaland's total assets reached over VND 238,181 billion. Inventory recorded VND 146,611 billion, of which the value of land fund and projects under construction accounted for 94.1%; the rest was completed real estate and real estate goods, completed real estate waiting to be handed over to customers.

Novaland said that in the fourth quarter of 2024, the company has made efforts to promote handover work at key projects, with 691 products handed over, accounting for 48.6% of the total number of products handed over in 2024 (accumulated handover of 1,422 products for the whole year).

Specifically, in the fourth quarter of 2024 alone, Aqua City handed over 167 products, NovaWorld Phan Thiet handed over 179 products, NovaWorld Ho Tram handed over 33 products, and the Ho Chi Minh City project cluster handed over 312 products.

By the end of 2024, NovaWorld Phan Thiet has handed over nearly 1,300 beach villas in the Florida and Golf Villas subdivisions to residents, of which more than 700 have completed interiors and are put into operation for rent or as second homes.

Aqua City project has handed over nearly 800 villas and townhouses. NovaWorld Ho Tram has handed over nearly 450 villa products in the phases of Wonderland, The Tropicana, Habana Island.

Providing further updates on the progress of resolving legal issues of key projects, Novaland said that at the Aqua City project, on January 23, the People's Committee of Dong Nai province officially approved the cost of local adjustment of the 1/5,000 planning of subdivision C4.

This is a positive step towards completing the adjustment of the 1/5,000 planning of subdivision C4 expected in the first quarter of 2025, from which it is expected that by July 2025 Aqua City will complete the detailed planning of 1/500 and sales licenses for subdivisions in accordance with the new planning.

Dong Nai Department of Construction has also continuously announced the confirmation of 521 low-rise houses (confirmed at the end of December 2024) and 422 low-rise houses (confirmed on January 23, 2025) in Zone II of the Aqua City project eligible for business.

At NovaWorld Phan Thiet, in November 2024, NovaWorld Phan Thiet was "untied" when the People's Committee of Binh Thuan province issued a decision to adjust the decision to lease the project's land, as a basis for resolving land financial obligations at this project. It is expected that NovaWorld Phan Thiet will complete the decisions to pay land use fees from April 2025.

Source: https://baodautu.vn/novaland-thu-ve-hon-9000-ty-dong-trong-nam-2024-ban-giao-1422-san-pham-d242801.html