Novaland completes restructuring, with more than 2,400 hectares of undeveloped land remaining

Novaland said it has overcome its toughest period, with restructuring “basically completed,” and is working to regain growth momentum toward sustainable development. Speaking at a press briefing on April 14, the company outlined progress across project execution, its financial position, and its governance framework.

Project execution: operations resumed and legal work accelerated

Novaland said most of its projects have resumed operations. For ongoing projects, the company reported delivering more than 6,000 products, while thousands of other houses have received certificates.

It also noted that several key projects in Ho Chi Minh City and Dong Nai have completed legal procedures and are being accelerated. In Dong Nai, the company said the Aqua City project has fulfilled its financial obligations.

Financial restructuring: debt reduction and new credit support

On the financial side, Novaland reported that by the end of 2025 it had reduced debt from privately issued bonds by about 18% compared with end-2022.

The company also said it reduced more than 3,324 billion dong in debt through equity issuance to swap debt for shareholders and convert part of international bonds.

Novaland further stated that new loan packages have been disbursed, strengthening its finances to accelerate project progress. The total credit limit granted for Novaland’s projects is planned to be increased to nearly 30,500 billion dong, with disbursement currently aligned with construction progress.

Planned targets and cash-flow focus for 2026

Novaland said that on April 23, the general meeting of shareholders is expected to approve key items, including a 2026 net revenue target of 22,715 billion dong—3.26 times that of 2025.

The company also set a goal to return to profitability, with net profit after tax expected at 1,852 billion dong.

To support this, Novaland identified cash-flow stabilization as a priority, including accelerating product handovers. The company plans to hand over more than 2,600 products in 2026 and continue selling more than 2,100 products that are ready for market.

It added that cumulatively by 2030, cash-flow potential from ongoing projects could exceed 470,000 billion dong.

Funding measures and land-bank strategy

Novaland said it will continue implementing measures to secure funding, including restructuring the payment schedule for existing debts, raising equity through private placements, and using debt instruments from financial institutions to supplement capital for project development.

In the long term, the company aims to expand its land bank in regions with major national infrastructure and urbanization trends. It currently has more than 2,400 hectares of undeveloped land bank concentrated in areas with potential for economic and tourism development.

Market update

On the stock market, Novaland’s NVL shares have risen 60–70% from the trough over the past year. The current NVL price has surpassed 17,000 dong per share.