Novaland reports 29 per cent sales growth

Wednesday, Aug 01, 2018 18:01

Housing developer Novaland Group has reported revenues of nearly VND4.3 trillion ($188.5 million) in the first half of this year, a 29 per cent increase year-on-year.

Novaland Lakeview City project in HCM City’s District XX. The company reported a 29 per cent jump in revenues to VND4.3 trillion the first half of this year. — VNS Photo

Housing developer Novaland Group has reported revenues of nearly VND4.3 trillion ($188.5 million) in the first half of this year, a 29 per cent increase year-on-year.

Profit after tax was VND723 billion ($31.2 million).

NVL said the revenues were mostly from Lakeview City, Rivergate Residence, The Tresor Residence, Golden Mansion, Wilton Tower, Kingston Residence, and Lucky Palace.

They would remain the mainstay in the second half too, it said.

In the period the company had mobilised $310 million from a bond issue.

NVL, established in 1992, has developed 40 housing projects so far, most of them in HCM City. — VNS