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Novaland Group (NVL) shares on HOSE hit the floor on the morning of May 4, after sell orders exceeded 13.6 million shares and there were no bids on the buy side. The stock fell to 19,100 VND per share, drawing attention in the real estate sector as liquidity rose sharply.
In the morning session on May 4, NVL traded at the floor at 19,100 VND per share. More than 13.6 million shares were queued for sale, while buy orders were absent. Liquidity increased to over 34.7 million shares, up 33% compared with the total volume of the previous session.
The sharp decline came after a rally that started in mid-March. NVL more than doubled from around 10,000 VND to 20,500 VND, with the stock closing at 29/04/2026 at levels that marked the highest point since mid-September 2023. Despite the floor move on May 4, NVL remained up 43% year-to-date, with average liquidity above 16.7 million shares per session.
The price adjustment occurred shortly after Novaland released its Q1 2026 results, which included several positive indicators. Net revenue reached about 3,587 billion VND, up 102% year-on-year. Net profit rose to more than 901 billion VND, reversing a loss of more than 443 billion VND in the same period.
The company attributed the improvement primarily to real estate transfer revenue of about 3,452 billion VND, up 111%, supported by handovers at Sunrise Riverside, Aqua City, NovaWorld Phan Thiet, NovaWorld Ho Tram, and the sale of land-use rights.
Novaland also announced a leadership change, appointing Mr. Bui Cao Nhat Quan as Chairman for the 2026–2031 term, replacing Mr. Bui Thanh Nhon. At the 2026 annual general meeting, Mr. Nhon said the board had prepared a leadership transition plan balancing experience from the previous generation with the next generation. He added that the younger leadership team, having proven themselves through challenges, will directly operate and lead the Group going forward.
Mr. Nhon further stated that Novaland’s stock is trading below book value and has not yet reflected the business’s intrinsic value and recovery potential.
Looking ahead, Novaland said it will focus resources to complete and fulfill commitments at key projects, including Aqua City and central Ho Chi Minh City projects such as Grand Manhattan and Victoria The Avenue.
For 2026, the Group targets record net revenue of 22,715 billion VND, equivalent to 3.2 times 2025. However, net profit after tax is expected to be equal to the previous year at 1,852 billion VND.
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