Novaland (NVL) among 50 best-performing firms in Vietnam
Novaland (NVL) among 50 best-performing firms in Vietnam
On June 27, Thien Viet Securities JSC and Nhip Cau Dau Tu magazine honored Novaland Group as one of the 50 best-performing listed enterprises in Vietnam in 2018. This is the third consecutive time the company has won the title.
This is a prestigious award in Vietnam as the organizing committee consulted with leading economic experts from Harvard Business School and referred to the world’s prestigious magazines such as Bloomberg Businessweek, Fortune and Forbes. The annual event is aimed at honoring the best listed enterprises in terms of scale, market capitalization and growth.
At the event, Novaland was one of the two real estate firms on the list of 17 enterprises with a market capitalization of more than US$1 billion.
The rankings were based on enterprises’ market capitalization, revenue, net profit, return on equity (ROE) and earnings per share in the last three years. Novaland is considered to develop sustainably as it has a compounded annual growth rate of 31.83% and ROE of 20.6%.
At its recent annual shareholder meeting, Novaland said its revenue and net profit last year grew 31% and 58%, respectively. The number of apartments the company handed over to customers increased 28% over 2017.
Novaland has land at many prime sites. It will use some 4,270 hectares of land for three main product lines, including residential areas in HCMC, tourism property projects and satellite urban areas in provinces near HCMC.
With clear business strategies and resources, Novaland is working on real estate projects across the country. This year, Novaland looks to become a leader in the property, finance, tourism and infrastructure development sectors.
In the near future, the group will continue introducing real estate products while developing tourism and infrastructure to support property development. In the long term, Novaland will venture into the finance sector.
At the Novaland Expo 2019 in the middle of this month, which attracted more than 12,000 visitors, the firm introduced its new projects and some 3,000 residential and tourism property products in HCMC and neighboring provinces.
