Novaland (NVL) Targets 2026 Revenue of VND 22,715B, 226% Above 2025

Overview

Novaland (NVL) has announced the basic completion of its corporate restructuring and set aggressive financial targets for 2026, including net revenue of VND 22,715 billion and net profit of VND 1,852 billion. The HOSE-listed real estate developer plans to achieve this growth through accelerated project deliveries and new financing, marking a potential inflection point after a period of operational and financial challenges.

Key Facts

• Novaland targets 2026 net revenue of VND 22,715 billion, which is 3.26 times (226% higher than) its 2025 revenue.
• The 2026 net profit target is VND 1,852 billion.
• The company has secured and expects additional credit lines totaling nearly VND 30,500 billion for its projects.
• For 2025, Novaland plans to deliver over 2,600 products and has over 2,100 products ready for new sales.
• The company has reduced its outstanding individual bond debt by approximately 18% compared to the end of 2022, a decrease of over VND 3,324 billion.
• Novaland holds a land bank of over 2,400 hectares yet to be developed, concentrated in strategic economic and tourism areas.
• The cumulative revenue potential from ongoing projects through 2030 is projected to exceed VND 470,000 billion.

What Happened

According to a company representative on April 14, Novaland has fundamentally completed its restructuring process, establishing an important foundation to restore operations and gradually regain growth momentum toward sustainable development. The company stated that most of its construction sites have resumed normal operations, with over 6,000 products delivered from ongoing projects and thousands of products receiving certificates. Key projects in Ho Chi Minh City and Đồng Nai have resolved legal issues and are focusing on accelerating construction completion.

In financial terms, Novaland’s debt structure is gradually changing positively, reducing short-term financial pressure. The company’s 2026 targets were disclosed in documents prepared for its Annual General Meeting of Shareholders scheduled for April 23. For 2025, the strategic focus is on stabilizing cash flow by accelerating deliveries and continuing new sales. The company also plans to continue implementing financial solutions, including structuring appropriate payment schedules for existing debts and raising equity capital through private placements and debt instruments from financial institutions.

Market Context

Novaland (NVL) is listed on the Ho Chi Minh Stock Exchange (HOSE). The stock closed at VND 17 on April 14, down 1.16% on volume of nearly 22 million shares. This announcement comes as the Vietnamese real estate sector shows tentative signs of recovery from a prolonged downturn, with developers focusing on project completion and debt restructuring. The guidance provides a concrete benchmark against which investors can measure the company’s operational recovery in the coming quarters.

Strategic Significance

The 2026 targets represent a clear strategic pivot from restructuring to growth execution. Novaland is leveraging its substantial land bank and newly secured credit to refocus on urban real estate as its strategic pillar, targeting genuine housing demand linked to urbanization. The shift from financial stabilization to revenue acceleration, if executed, could reposition Novaland within the competitive landscape, where access to financing and project delivery capability are critical differentiators.

What to Watch

• The 2025 financial results, particularly the progress toward the over 2,600 product delivery target and cash flow stabilization.
• The execution of the nearly VND 30,500 billion in credit lines and any additional capital raising activities announced.
• Updates on the development pipeline for the over 2,400-hectare land bank.
• The company’s quarterly earnings releases throughout 2025 to track revenue and profit trajectory against the 2026 targets.
• Market and regulatory developments affecting real estate credit and project approvals in Ho Chi Minh City and Đồng Nai.