Novaland shares hit the floor on first trading day after extended holiday as selling pressure mounts; Q1 2026 net profit rises to 860 billion dong.

Novaland (NVL) shares faced strong selling pressure in the first trading session after the long holiday, with the stock hitting the floor price of 19,100 dong per share just two hours into trading. By the close, NVL liquidity exceeded 35 million shares, ranking second on the market. Intraday floor selling approached nearly 23 million shares, indicating heavy short-term pressure following a recent rally.

Rally earlier, then abrupt floor drop

Before the sell-off, NVL had risen sharply from around 10,000 dong per share in March 2026 to nearly 20,000 dong by the end of April. Over the past two months, the stock doubled in value and reached its highest level in three years. Despite the strong run-up, the sudden floor decline suggests market sentiment remains cautious regarding the company’s ongoing developments.

Q1 2026 profit improves on asset disposals

Support for the rally came from improved earnings. In Q1 2026, Novaland reported consolidated net profit after tax of 860 billion dong, compared with a nearly 480 billion dong loss in the same period last year. The improvement was mainly attributed to property disposals, including product handovers at Sunrise Riverside, Aqua City, NovaWorld Phan Thiết, NovaWorld Hồ Tràm, and the transfer of land-use rights.

Corporate governance and restructuring updates

Alongside the financial results, Novaland announced major corporate governance and capital changes as it accelerates restructuring. The board elected Mr. Bui Cao Nhat Quan as Chairman of the Board for the 2026–2031 term, replacing Mr. Bui Thanh Nhon. The company also established the Strategy-ESG Committee, chaired by Mr. Bui Thanh Nhon.

At the recent annual general meeting, Novaland said it had overcome its toughest period and is gradually transitioning from recovery to a sustainable growth cycle, with a stated focus on protecting the rights of shareholders, customers, and stakeholders.

Key concerns: financing costs, leverage, and inventory

While Q1 profit rose strongly, concerns remain about financing costs, high debt, and elevated inventory levels. Interest expense was about 35 billion dong in Q1 2026. As of March 31, 2026, total borrowings were 68,971 billion dong, up 1,580 billion dong from year-end. Analysts also questioned the accounting of financial costs given the company’s large debt load.

Finance income offsets some pressure

In addition to interest costs, Novaland’s finance income increased markedly. In Q1 2026, lending interest income reached 481 billion dong, up 239% year-on-year, contributing to the overall improvement in profitability.