27-Apr-2022 Intellasia |
VNA |
5:02 AM
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Novaland Group reported revenues of nearly VND15 trillion last year, up by 186 percent y.o.y, approved by its Annual general Meeting of Shareholders in HCM City on Tuesday.
The AGM also approved its net profit after tax of nearly VND3.45 trillion, a 23 percent increase.
Total assets surged by 40 percent to VND202 trillion.
It was noted that the year 2021 was successful as Novaland raised USD300 million in international convertible bonds listed on Singapore Stock Exchange (SGX).
Its total land bank increased by 115.7 percent to 10,600ha.
Moreover, last year, Novaland Group also carried out several CSR activities with a total contribution of VND320 billion and benefited thousands of people across the country.
The CSR programme included its donation to the national COVID-19 vaccination funds along with the sponsorship of specialised and high-tech medical equipment to HCM City and other provinces such as Ba Ria Vung Tau, Dong Nai, Binh Thuan, and Lam Dong, etc. Besides, the Group also accompanied the construction and completion of 7 field hospitals and 2 quarantine areas in HCM City. Additionally, many disadvantaged households received support from Novaland Group via its campaign of Zero-Dong Supermarket.
For education, many students were awarded the “Teacher Nhe” scholarships to encourage students with difficulties.
Notably, in terms of community development, the company also started a tree-planting campaign in response to the government’s programme of planting one billion trees.
Looking forward to 2022
At the 2022 AGM, Novaland has set a business plan for 2022 with total revenue and net profit after tax of VND36 trillion and VND6.5 trillion, respectively, 141 percent and 88 percent higher than in 2021.
According to Novaland, mega-scaled projects such as Aqua City, NovaWorld Phan Thiet, NovaWorld Ho Tram and other projects in HCM City would be the main booster for the upcoming years’ revenue.
A representative of the Group announced that in 2022, the Group would focus on developing residential and hospitality projects with around 15,000 products expected to be introduced to the market.
80 percent of those would be in Aqua City, NovaWorld Ho Tram and NovaWorld Phan Thiet, he said, and the rest in new projects.
The Group said they plan to develop, among other projects, Grand Sentosa in South Sai Gon and the Long Island phase at NovaWorld Ho Tram in Ba Ria Vung Tau.
Another hospitality project under the NovaWorld brand will be developed in Binh Thuan Province with a land area of over 700ha.
In Lam Dong, NovaWorld Da Lat will be developed with a land area of 1,000ha.
Another project, which is NovaWorld Nha Trang will be developed on an area of 600ha with good proximity to Tran Phu Street in Nha Trang City in Khanh Hoa Province.
Apart from hospitality projects, Novaland will also develop residential projects in the satellite cities of HCM City this year.
There will be various product types developed in these residential projects, Novaland said.
Subsidiary companies of Novagroup including Nova Service and Nova Consumers have also been developing several products and services to create an eco-system in their projects.
For example, the second-home in Florida phase at NovaWorld Phan Thiet will be put into operation this year along with a sports complex and PGA golf course. In addition, Circus Land, Miami Bikini Beach, Florida Water Park, Movenpick Hotel, Radisson Hotel and Nova Clinic Phan Thiet will also be put into operation this year.
At Aqua City, a residential project in Dong Nai Province, many facilities such as the Aqua Central Mall, Aqua Sports Complex and Nova Clinic Aqua City will be opened and ready to welcome guests and customers this year.
At NovaWorld Ho Tram, many amenities inside The Tropicana and Wonderland will be put into an operation like second-home areas, Tropicana Park, a shopping centre, and Nova Clinic Ho Tram.
The Group’s chair, Bui Xuan Huy said: “In the spirit of joining hands to further development, Novaland Group and other members and partners of the company desire to create more international-standard tourism destinations in the country besides creating jobs that contribute to the local economy”.
At the AGM of shareholders, the issuance of bonus shares to shareholders were approved at a rate of 25 percent (maximum of 482,605,329 shares) and shares in lieu of dividends at 10 percent (193,042,132 shares).
Novaland Group, a key factor of NovaGroup, is a leading and reputable real estate developer.
Over the past 30 years, Novaland has developed more than 50 projects in various segments like apartments, shophouses, officetel, resort townhouses, villas, second homes, and international-brand resort villas.
Novaland currently records 10,600 ha of land banks under research and development.
By 2030, Novaland has set a goal of expanding to 50 urban areas in 30 cities and provinces with great tourism and economic potential.
bizhub.vn/property/novaland-revenues-up-186-percent-in-2021_333188.html
Category: Business, Vietnam
Article source: https://www.intellasia.net/novaland-revenues-up-186pct-in-2021-1045080
