Real estate developer Novaland reports $153 mln profit for 2021

By Hoai Phong February 7, 2022 | 10:21 pm PT

The eastern part of HCMC. Photo by VnExpress/Quynh Tran

Novaland Real Estate Investment Group JSC reported consolidated revenues of VND14.97 trillion (US$660 million) last year and a net profit of VND3.46 trillion.

It represented a 186 percent increase in revenues from 2020. The company earned VND13.51 trillion from sales, a 264 percent increase, and VND1.46 trillion from services.

Its total assets were worth VND201.52 trillion, nearly 40 percent up from 2020. Total group borrowings and financial lease liabilities were VND60.52 trillion.

Novaland, one of the largest property developers in Vietnam, has more than 10,000 hectares of land for future developments.

Its share, NVL, is among the 30 largest (VN30) in terms of market capitalization on the stock market.