According to Hanoi Stock Exchange (HNX), Dalat Valley Real Estate Co., Ltd. has just announced its financial status report for 2023.
Accordingly, in 2023, the company reported a loss after tax of more than VND 37 billion, while it lost VND 93 billion last year (down by nearly 60%). In 2021, the loss after tax was more than VND 0.6 billion. Thus, this is the third consecutive year Dalat Valley has been reported at a loss.
In terms of financial structure, as of December 31, 2023, Dalat Valley’s equity was over VND 2,616 billion, slightly lower than that in the same period last year (VND 2,654.4 billion). The ratio of debt to equity is 4.7 times, corresponding to nearly VND 12,298 billion in debt.
The ratio of outstanding bonds to equity is 0 times. Thus, in 2023, the company no longer owes any bonds due to having paid VND 1,100 billion in bonds of the DALATVALLEY2019-03 bond lot.
According to the survey, Dalat Valley Real Estate Co., Ltd. was established in March 2017, headquartered in Aqua Waterfront City, An Xuan Hamlet, Long Hung Commune, Bien Hoa City, Dong Nai Province, business operating in real estate.
The representative is Mr. Bui Dat Chuong (born in 1962). Notably, Mr. Chuong is the younger brother of Mr. Bui Thanh Nhon – Chairman of the Board of Directors of Novaland and also the representative of many other enterprises in the Novaland ecosystem.
In April 2022, Dalat Valley Real Estate increased its capital from VND 754 billion to VND 2,754 billion, in which No Va Real Estate Investment Group JSC (Novaland, code: NVL) holds 72.6%, Mr. Bui Trong Nghia holds 27.4% and the rest is held by Ms. Le Thi Hong Xuan.
In Novaland’s 2023 annual report, Dalat Valley Real Estate is a subsidiary of Novaland and is the investor of the Aqua Waterfront City project in Dong Nai province. The project has an area of over 85ha, is scheduled to be officially handed over from the fourth quarter of 2023 with 2,701 products, including one-family villas, twin villas, townhouses and commercial townhouses.
In November 2023, Novaland announced a resolution approving the amendment to the principles of cooperation contract and its appendices between Novaland and Dalat Valley Real Estate. Accordingly, Novaland adjusts the value of its cooperative capital from VND 6,608 billion down to VND 5,608 billion, and at the same time adjusts the guarantee amount from VND 5,423.6 billion to VND 4,423.6 billion.
