Property developer Novaland Group (NVL) plans to issue nearly 386 million shares to increase its charter capital to VND14.7 trillion (US$638.8 million).

Novaland reported net revenue of nearly VND4.5 trillion in Q1, up 158 per cent over the same period last year. Major contributions to revenue come from projects such as Saigon Royal, Victoria Village, Aqua City, NovaHills Mui Ns, NovaWorld Phan Thiet and other projects in the centre of HCM City.

In the first quarter of 2021, the company's after-tax profit reached more than VND701 billion, up 132 per cent over the same period last year.

On the market, NVL is being traded at VND133,500 per share, up more than two times compared to early this year. — VNS