Novaland’s 2021 post-tax profit falls 11.4% to VND3,460 billion

Revenue from sales was VND13,511 billion, an increase of 264% year-on-year thanks to the handover of projects such as NovaHills Mui Ne, Saigon Royal, Aqua City, NovaWorld Phan Thiet, NovaWorld Ho Tram, Victoria Village.

In fourth quarter of 2021, Novaland reported VND910 billion ($40 million) after-tax profit, up almost 50% from a year earlier. Revenue jumped to VND4,590 billion ($202 million) from VND1,222 billion ($54 million).

As of December 31, 2021, Novaland’s total assets reached VND201,520 billion, an increase of 39.4% compared to the end of 2020. In which, inventory was more than VND 109,767 billion, an increase of 26.4%, mainly from development investment in projects such as Aqua City, NovaWorld Phan Thiet, NovaWorld Ho Tram, NovaHills Mui Ne.

In 2021, the group successfully issued $300 million of international convertible bonds on the Singapore Stock Exchange with the participation of reputable financial institutions in the international market. The issuance received great interest from investors with the registration value more than 2.5 times higher than the initial issuance plan.