Novaland (NVL) Elects 44-Year-Old Chairman, Targets 3x Revenue in 2026

Overview

Novaland Group (NVL) has elected Bui Cao Nhat Quan, 44, as Chairman of the Board of Directors for the 2026-2031 term, replacing his father Bui Thanh Nhon, who transitions to Chairman of the newly formed Strategy-ESG Committee. The leadership change comes as the company sets ambitious 2026 targets: net revenue of VND 22,715 billion (triple 2025) and after-tax profit of VND 1,852 billion.

Key Facts

• Bui Cao Nhat Quan, 44, elected Chairman of Novaland Board for 2026-2031 term.
• Bui Thanh Nhon, former Chairman, appointed Chairman of the Strategy-ESG Committee.
• Two new board members elected: Bui Cao Nhat Quan and Pham Tien Van, plus independent member Hoang Duc Hung.
• Novaland targets 2026 net revenue of VND 22,715 billion, more than triple 2025’s result.
• 2026 after-tax profit target set at VND 1,852 billion.
• No dividend for 2025; retained earnings to fund business recovery.
• Bui Cao Nhat Quan holds 75.32 million shares, equivalent to 3.67% of charter capital as of Dec 31, 2025.

What Happened

On April 23, Novaland Group held its 2026 Annual General Meeting at NovaWorld Phan Thiet, Lam Dong province. Outgoing Chairman Bui Thanh Nhon emphasized the company’s commitment to fulfilling customer and shareholder promises, stating that trust must be restored through concrete actions and results. The meeting elected two new board members (Bui Cao Nhat Quan and Pham Tien Van) and one independent member (Hoang Duc Hung) to replace three outgoing members. Subsequently, the board elected Bui Cao Nhat Quan as Chairman for the 2026-2031 term.

Bui Cao Nhat Quan, a graduate of Western Washington University (USA) in business administration, served as Deputy General Director of Investment and Trade at Novaland from 2007 to 2017. He holds 75.32 million shares (3.67% of capital). The company also approved the formation of a Strategy-ESG Committee, chaired by Bui Thanh Nhon, to oversee long-term strategy and ESG compliance.

Market Context

NVL closed at VND 18,000 on April 15, 2026, up 2.63% with volume of 35.9 million shares, reflecting investor interest ahead of the AGM. The stock trades on HOSE and has been under pressure due to the company’s debt restructuring and project delays. The leadership transition and ambitious 2026 targets signal a renewed focus on recovery, but execution risks remain high given the scale of the turnaround.

Strategic Significance

The generational leadership change at Novaland marks a strategic shift toward professional management and ESG integration. Bui Cao Nhat Quan’s decade-long operational experience and the establishment of the Strategy-ESG Committee suggest a more structured approach to governance. The 2026 revenue target of VND 22,715 billion (3x 2025) implies a significant ramp-up in project deliveries and sales, likely driven by key projects such as NovaWorld Phan Thiet and NovaWorld Ho Tram. The decision to skip dividends and retain earnings underscores a focus on debt reduction and operational recovery, which is critical for restoring investor confidence.

What to Watch

• Progress on key project completions and handovers, especially NovaWorld Phan Thiet and NovaWorld Ho Tram.
• Q2 2026 earnings release to assess revenue and profit trajectory against the ambitious full-year targets.
• Updates on debt restructuring negotiations with creditors and bondholders.
• Any further changes in board composition or management team.
• Regulatory approvals for new projects or land-use rights conversions.