Property developer Novaland Group has been named among Viet Nam’s 50 best performing companies by Nhip Cau Dau Tu (Investment Bridge) magazine and Thien Viet Joint Stock Company in HCM City.
This is the third consecutive year that Novaland finds a place in the list, and this year it is one of only two property developers out of 17 companies in the list with a market capitalisation of US$1 billion or above.
The rankings have been developed based on international standards used by famous global publications like Bloomberg Businessweek, Fortune, and Forbes.
Economists and other experts from Thien Viet JSC, Viet Nam Investment Group, Viet Nam Capital Partners, Harvard Business School, and others were also consulted.
The list only considers companies listed on the Ha Noi Stock Exchange or HCM Stock Exchange with a market capitalisation of at least VND1.5 trillion (US$ 64.4 million) and revenues of VND 250 billion and net profit of VND 25 billion for three consecutive years, with return on equity (ROE) and the share performance also taken into account.
Novaland has been growing at an average of 32.8 per cent while ROE has been 20.6 per cent from 2015-2018
At its annual general meeting recently Novaland reported impressive revenue growth of 31 per cent and net profit growth of 58 per cent in 2018.
The number of total of condos it handed over during the year jumped by 28 per cent.
As a giant property developer, Novaland has owned and researched to develop huge land of around 4,270ha. The company said the lands would be used to develop three main products: housing in HCM City, hospitality products and satellite town in neighbouring provinces.
With a solid business strategy and financial capacity, Novaland is ready for a new period of development when it targets to become a developer with projects all over the entire country.
This year is a milestone for Novaland: This is the year in which it changed its vision to set its sights on becoming a conglomerate with interests spread over a number of sectors like property, finance, tourism, and infrastructure.
At the Novaland Expo it organised in the middle of last month, the company introduced many new projects to customers which will bring to the market 3,000 housing and hospitality products in HCM City and neighbouring provinces. The expo attracted over 12,000 visitors.