The Quran

قيلَ يا نوحُ اهبِط بِسَلامٍ مِنّا وَبَرَكاتٍ عَلَيكَ وَعَلىٰ أُمَمٍ مِمَّن مَعَكَ ۚ وَأُمَمٌ سَنُمَتِّعُهُم ثُمَّ يَمَسُّهُم مِنّا عَذابٌ أَليمٌ

Muhammad Asad

[Thereupon] the word was spoken: "O Noah! Disembark in peace from Us,¹ and with [Our] blessings upon thee as well as upon the people [who are with thee, and the righteous ones that will spring from thee and] from those who are with thee.² But [as for the unrighteous] folk [that will spring from you] - We shall allow them to enjoy life [for a little while], and then there will befall them grievous suffering from Us."

The term salam - here translated as "peace" - comprises the notions of both external and internal security from all that is evil. For a fuller explanation of the term, see surah 5, note 29.
The above interpolation is based on the consensus of most of the classical commentators. The phrase "the people [or "generations"] from those who are with thee" points to generations as yet unborn; but since God's blessing extends to all believers, it eo ipso comprises the believers of Noah's generation as well; and since "those who deny the truth" (al-kafirun) are excluded from God's blessing, only the righteous from among the offspring of these early believers are promised a share in His grace (cf. a similar allusion, relating to Abraham's descendants, in 2:124): hence my interpolation of the words "as for the unrighteous that will spring from you" in the next sentence.