HCMC – No Va Land Investment Group Corporation (Novaland) is relying on cash flow from project handovers and sales to sustain operations as debt pressure remains despite completing most restructuring steps.
At a briefing on April 14, the company reported it had largely finished key components of a three-year restructuring process. Measures included settlements of debt with lenders, debt-to-equity swaps, and additional capital raising.
Legal issues at several projects have been resolved, allowing construction and sales to resume. This has helped restore cash flow, which the company views as the foundation for recovery.
Outstanding private bond debt has fallen by about 18% from end-2022 levels. More than VND3.3 trillion in obligations has been addressed through share swaps and partial conversion of international bonds. Financial pressure persists as overall debt remains high.
To support liquidity, Novaland is working on projects. By the end of last year, customer advance payments exceeded VND20 trillion, providing a key funding source.
New loan disbursements have lifted total credit limits for its projects to nearly VND30.5 trillion, supporting construction progress and sales.
The company continues to face cash flow constraints, with inventory exceeding VND153 trillion and financial debt totaling around VND67 trillion. Converting inventory into cash is identified as a key task in the next phase.
For 2026, Novaland looks to obtain revenue of more than VND22.7 trillion and after-tax profit of about VND1.85 trillion.
Closing the trading session today, April 15, its NVL shares edged up 2.34% to VND17,500, with a trading volume of over 36.7 million shares.
The VN-Index added 25 points, or 1.41%, to close at 1,800.65, with trading value reaching VND28.27 trillion.
Total trading volume on the Hochiminh Stock Exchange reached 948.7 million shares, up 7% from the previous session, while value increased 20.5%. Block deals accounted for 144 million shares worth VND6.18 trillion.
Several large-cap stocks advanced. VJC gained 6.83% to VND178,200, with 2.64 million shares traded, and briefly touched its ceiling price. HVN edged up 2.46% to VND22,900.
Other blue chips also posted gains. SAB increased 2.21%. Banking stocks such as SHB rose nearly 2%, while VCB and HDB added around 1% each. CTG edged up 0.43%. GVR gained nearly 1%.
Bank stocks showed mixed movements overall. Alongside gainers and two unchanged stocks, NAB and VPB, most lenders declined. STB fell 2.72% to VND64,300. MSB, EIB and VIB dropped by more than 1%, while others recorded smaller losses.
Securities firms were mostly lower. HCM rose 3.47% to VND26,850, TVB advanced 1.58%, VIX added 0.28%, and VPX edged up 0.17%. SSI and DSE were unchanged. The rest declined, with TVS, APG, ORS and VCK down more than 1%.
Liquidity was led by SHB with 71.78 million shares traded, followed by VIX with 50.13 million shares.
The HNX-Index fluctuated in the afternoon session and closed slightly higher. It rose 0.31 point, or 0.12%, to 252.72 points, with 57 advancers and 87 decliners. Trading volume reached 113 million shares worth a combined VND2.03 trillion.
