Novaland among 50 best-performing companies for third consecutive year
Novaland among 50 best-performing companies for third consecutive year
Vietnamese property developer Novaland Group has been ranked among Vietnam’s 50 best-performing businesses in 2018 for the third consecutive year.
The ranking is compiled annually by Nhip Cau Dau Tu (Investment Bridge) magazine and Thien Viet Securities JSC since 2012 to honour the most effective listed companies. The ranking was developed in line with international standards with counsel from many economists and business experts from Harvard Business School. It also referred to many prestigious rankings from renowned publications such as Bloomberg Businessweek, Fortune, and Forbes.
Novaland has become one of two property companies to make it on the list of Vietnam’s 50 best-performing businesses, and made it among the 17 companies with a market capitalisation value of over $1 billion.
The rankings are based on market capitalisation, revenue, return on equity (ROE), and earnings per share (EPS) for the last three years. Novaland maintained its sustainable development with a compound annual growth rate (CAGR) of 31.83 per cent and ROE of 20.6 per cent.
At its 2018 annual general shareholders' meeting, Novaland reported 31 and 58 per cent growth in its revenue and net profit, respectively. The total number of apartments handed over increased by 28 per cent against 2017.
Novaland’s strength lies in its large land plots in prime locations. The company has accumulated 4,270 hectares of land funds for future development. The firm focuses on three segments including residential apartments in Ho Chi Minh City, hospitality, and satellite urban real estate in neighboring areas.
With a new business strategy, strong potential and thorough preparation, Novaland is willing to move into a new phase of development with a view to become a fully developed real estate brand with a strong footprint across the country. The group’s vision has also been changing toward higher efficiency and better support, to make Novaland one of the leading economic groups in real estate, finance, tourism, and infrastructure development.
In the near future, apart from developing different types of real estate, Novaland will continue to develop its tourism and infrastructure system – two closely related fields to the real estate sector. In the farther future, Novaland will approach other types of business such as financial investment and development.
At Novaland Expo 2019 held in mid-June, Novaland unveiled a number of new projects with around 300 residential and hospitality products in Ho Chi Minh City and neighboring provinces. The expo has attracted over 12,000 buyers and investors.
