Novaland’s capitalisation value rises to almost 2 billion USD
Property developer Novaland Group now has a capitalisation value of nearly 2 billion USD, making it one of the 10 biggest listed firms on the HCM Stock Exchange in terms of market capitalisation.
HCM City(VNA) – Property developer Novaland Group now has a capitalisation value ofnearly 2 billion USD, making it one of the 10 biggest listed firms on the HoChi Minh Stock Exchange in terms of market capitalisation.
According to thegroup’s financial report released on April 21, Novaland earned over 1.9trillion VND (84 million USD) in net revenues in the first quarter of 2017, up164 percent from the same period last year, bringing its total asset value toover 37.7 trillion VND (1.66 billion USD). Its net revenues are expected to hit17.5 trillion VND (772 million USD) in 2017.
Novaland plans to rampup mergers and acquisitions (M&A) activities this year in strategicprojects in Ho Chi Minh City, Can Tho, Da Nang and Ba Ria - Vung Tau.
The group has beendeveloping 40 projects of different kinds such as villas, shop-houses,residential apartments and commercial buildings. Nine of them have been completed while ten others will be finishedthis year.-VNA
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Novaland Group's buildings. (Source: topbds.net) 
