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1. About PIK Group
2
RuBBB+
Russia’s leading residential real estate developer
3
2 059th. sqm.
№1 by total housing completions
4 119 th. sqm.
№1 by current construction volume
3 304 mln $
№1 by market capitalization among public developers
№1By operational cash flow Highest level among developers on
the ACRA rating scale
RuА-ExpertRA rating
BStandard and Poor’s rating
*Source: https://erzrf.ru/, Company data
Company history
4
Implementation of PIK Group
1994
The company carried out a successful IPO on the London Stock Exchange, MICEX and RTS
2007
Real estate market starts to recover. PIK Group contract sales reach pre-crisis
volumes at 658 th. sqm.
2012
The launch of fundamentally new product and series of houses with improved characteristics and consumer properties
Modernization of production capacities
The launch of brand new sales and customer service technologies
2015
Rapid expansion in the Moscow Metropolitan Area, Start of sales in other Russian regions.
Acquisition of industrial production capacities
2001-2006
Change of shareholders of PIK, including the acquisition by Sergey Gordeyev of a 29% stake in the Company
The arrival of the new management team and the establishment of the new business strategy
2014
Increase in the share of S. Gordeev to a controlling stake (74.6%)
VTB Bank becomes a portfolio investor (7.6%)
Achieving record operational indicators for sales contracts and completions
2017
Increase in operating performance indicators and acquisition of new projects
Decrease in net debt to negative values
Absorption of the main competitor in the Moscow region
2016
Corporate governance
5
Annual general shareholder meeting
Personnel and remuneration committeeBoard of Directors
Executive bodies
Audit and risk committee
Strategy committee
Management Board
President (CEO)
Disclosure committee
Investment committee
Shareholder structure
Free float17,8 %
VTB Bank7,6 %
S. Gordeev74,6 %
Board of Directors
6
Alexander Varennya Independent Member of the board of Directors
Zumrud Rustamova Independent Member of the board of Directors
Aleksei Blanin Independent Member of the board of Directors
Sergey Vorobyov Member of the board of Directors
Aleksey Karpenko Member of the board of Directors
Alexander Dolzhich Member of the board of Directors
Marina Zinovina Chairman of the Board of Directors
Georgy Figin Member of the board of Directors
Marina Groenberg Member of the board of Directors
Management
7
Sergei Gordeev President
Alexandr Prygunkov First vice-president Operational Director
Наталья Семикова Вице-президент по исходно-разрешительной документации и земельно-имущественным отношениям
Aleksey Almazov Vice-president for engineering
Stanislav Kondratyev Vice-president Director of product department
Denis Ivakin Vice-president - director of the design department
Alexander Titov Vice-president for economics and finance - financial director
Vyacheslav Borisenkov Vice-president for general affairs
Gennady Rosso Vice-president Director of sales department
Ilya Tikhomirov Director of the IT department
Alexey Zolotarev Vice-president for development of land assets
Ivan Polandov Vice-president Director of Moscow Directorate
Alexey Kozlov Vice-president Director of Moscow Regional Directorate
Alexander Lefel Vice-president For regional development
Elbrus Gobeev General Director of PIK-Industries
Acquisition Permits Design Development and construction Sales
Development cycle
8
• Acquisition of the project
• Planning
• Construction permit
• Construction
• Sales
• Statement of conformity
• Ownership registration rights
• Issuing keys
Balance of all stages of the development cycle (2017)
Put on sale Sold Completed
2,1 th. sqm. 1,8 th. sqm. 2,0 th. sqm.
9-12 months 12-18 months 3 months
24-33 months
2. Operational results
Real estate contract sales performance 2017
10
2016 2017
1 884
950
2016 2017
191,2
96,4
2014 2015 2016 2017
191,2
96,4
57,455,2
4q2016 1q2017 2q2017 3q2017 4q2017
64,4
47,9
40,038,933,4
4q2016 1q2017 2q2017 3q2017 4q2017
653
460
391380
318
2014 2015 2016 2017
1884
950
625620
Real estate contract sales, тh. sqm. Real estate contract sales, RUB bn
Growth doubled following continued
organic growth and the integration of
major developer companies
*Source: management accounts
98%
99%
Cash collections 2017
11
Total cash collections, RUB bn
2016 2017
216,1
101,2
*Source: management accounts
2014 2015 2016 2017
216,1
101,2
68,761,7
4q2016 1q2017 2q2017 3q2017 4q2017
71,3
50,449,544,9
33,3
114%
2016 2017
2 143
1 158
Buildings put on sale 2017
12
For the first time in the history of the Company, more than 2 mln. sqm. Were put on sale
2016 2017
99
63
Number of buildings put on saleBuildings put on sale, th. sqm.
2014 2015 2016 2017
99
63
5043
2014 2015 2016 2017
2 143
1 158
893
645
*Source: management accounts
+3697%
Real estate contract sales performance 1Q2018
13
1q2017 1q2018
430380
1q2017 1q2018
44,338,9
Real estate contract sales, тh. sqm. Real estate contract sales, RUB bn
*Source: management accounts
1q2017 2q2017 3q2017 4q2017 1q2018
44,3
63,1
47,9
4038,9
1q2017 2q2017 3q2017 4q2017 1q2018
430
608
460
391380
13% 14%
Cash collections 1Q2018
14
Total cash collections, RUB bn
1q2017 1q2018
57,0
44,9
1q2017 2q2017 3q2017 4q2017 1q2018
57,0
71,3
50,449,544,9
*Source: management accounts
27%
1 квартал 2017 1 квартал 2018
587
379
Buildings put on sale 1Q2018
15
1 квартал 2017 1 квартал 2018
21
16
Number of buildings put on sale Buildings put on sale, th. sqm.
*Source: management accounts
+5 55%
Sales through mortgages
16
Share of mortgage sales 2017 - 1Q2018 monthly Average mortgage interest rate in Russia, %
January February March April May June July August September October NovemberDecember January February March
66 %67 %65 %64 %64 %63 %
60 %62 %
58 %60 %
57 %59 %60 %
54 %
48 %
Januar
y 20
16
May
2016
Septem
ber 2016
Januar
y 20
17
May
2017
Septem
ber 2017
Januar
y 20
18
Mar
ch 2018
12,9
12,5
12,1
12,9 12,913,1
12,9 12,812,7
12,5 12,412,2
11,5
11,8 11,911,7
11,4 11,311,1
10,9
10,6
10,1 10,09,8 9,8 9,9 9,8
2014 2015 2016 2017 1кв2018
66 %60 %
50 %39 %36 %
Number of mortgage transactions 2017 vs 2016
21 069 vs 8 761
Share of mortgage sales
*Source: management accounts, CBRF
3. Financial results
Revenue segments
18
Development segment, RUB mln
2016 2017
169 858
54 013
2016 2017
3 8123 690
Construction segment and others, RUB mlnMaintenance segment RUB mln
2016 2017
10 402
2 387
2016 2017
184 072
60 090
Total revenue, RUB mln
*Source: IFRS
206%214%
336%
3%
2016 2017
1 1510
2016 2017
26 736
17 22232%
28%
55%
Gross profit
19
Gross profit for sales accounted for at historical value, RUB mln
Gross profit for sales accounted for at fair value, RUB mln
2%
*Source: IFRS
Total gross profit RUB mln
2016 2017
28 393
17 920
31%
16%
58%
2016 2017
3 154
19 061
EBITDA and net profit
20
Net profit, RUB mln
*Source: IFRS
2016 2017
15 648
11 102
Adj. EBITDA, RUB mln
19%
9%
41%
2016 2017
27 368
12 586
Adj. EBITDA excluding cost of land, RUB mln
117%
-83%
2016 2017
40 06234 988
Operational cash flow
21
Operational cash flow before income tax and interest paid and before acquisitions and sale of development rights and land plots and prepayment for development rights, RUB mln
2016 2017
54 469
38 887
Net operational cash flow, RUB mln
2016 2017
25 330
18 767
Operational cash flow before before acquisitions and sale of development rights and land plots and prepayment for development rights, RUB mln
*Source: IFRS
40%
15%
35%
Cash position and leverage
22
*Source: IFRS
31.12.2016 31.12.2017
60 486
65 531
60 006
44 350
480
21 181
Secured debtUnsecured debt
Debt management principles
1. Deleveraging
2. Debt curve extension
3. Increasing the share of unsecured debt in debt structure
3. Optimizing the cost of funding
Total debt, RUB mln.
31.12.2016 31.12.2017
15 034
40 719
31.12.2016 31.12.2017
45 452
24 812
Cash and equivalents RUB mln.
Net debt, RUB mln.
-8%
83%
-63%
4. Project portfolio summary
Federal player
24
Obninsk
Kaluga
Moscow
Perm
Yaroslavl
Rostov-on-Don
Novorossiysk
Ekaterinburg
Saints-Petersburg
RegionUnsold ared, th. Sqm Market value, RUB bn
Moscow Metropolitan area 9 933 212,2
Novorossiysk 334 1,7
Ekaterinburg 295 1,4
Yaroslavl 241 1,0
Rostov-on-Don 213 2,2
Saints-Petersburg 177 4,0
Kaluga 168 1,4
Obninsk 132 0,9
Perm 4 0,2
Total 11 497 225,0
*Source:: CW
Key projects in Moscow and Moscow region
25
1
6
9
2
5
7
33
10
4
11
12
8
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
*Source:: CW
Project name Unsold ared, th. Sqm Market value, RUB bn1 Ilyinskie Luga 1 347 5,7
2 Salaryevo-park 1 246 39,2
3 Vostochnoe Butovo 770 6,2
4 Yurlovo 711 1,7
5 Buninskie Luga 609 19,6
6 Odintsovo-1 555 3,7
7 Butovo-park 453 5,0
8 Izmaylovsky les 352 4,9
9 Serednevo 350 5,7
10 Zhulebino-park 308 6,2
11 Mytishi, Yaroslavsky 296 1,6
12 Lyubertsi-park 271 4,6
13 Lyuberetsky 245 4,4
14 Polyarnaya 236 9,2
15 Green Park 233 12,0
16 Myakinino 223 3,5
17 Kuntsevo-park 175 7,4
18 Meschersky les 175 5,7
19 Stolichniye polyani 141 1,8
20 Kuntsevo 134 15,1
21 Yasenevaya 123 4,6
22 Zhemchizhina Zelenograda 112 2,5
23 Putilkovo 110 3,4
24 Mitino-park 109 4,1
25 Lefortovo-park 97 6,8
26 Rimskogo-Korsakova 11 95 4,9
27 Kuskovskaya 72 1,5
28 Izmaylovsky proezd 5a 59 3,4
29 Orange park 46 0,4
30 Vlyublino 40 1,3
31 Solntsevo-park 30 1,4
32 Butovo-park 23 0,3
33 Chernyahovskogo 19 20 1,4
34 Annino-park 16 0,5
35 Severny 14 0,1
36 Mosfilmovsky 11 2,1
0
3 500
7 000
10 500
14 000
2012 2013 2014 2015 2016 2017
1 565
1 688
1 3471 516
2 8221 984
5 698
5 765
1 674
1 8632 132
2 665
4 2345 059
2 4551 7821 9681 888
Moscow Moscow region Other regions
0
75
150
225
300
2012 2013 2014 2015 2016 2017
12,99,8
5,8
5,89,3
10,2
58,655,1
15,1
20,225,9
25,7
153,5152,2
79,7
57,86052,6
Moscow Moscow region Other regions
Land bank dynamics
26
*Source:: CW
Unsold area, th sqm Market value, RUB bn
65376537
5161
88,5
12 512
11 497
95,283,8
100,6
217,1225,0
5467
Project portfolio pipeline
27
14 %
50 %
37 %
Moscow Moscow region Other regions
6 %
26 %
68 %
Land bank breakdown by region, %
Unsold area Market value
Land bank as of 31.12.2016 Acquired Sold Plannings change Land bank as of 31.12.2017
12 512
+ 1 019- 1 884
- 150
11 497
*Source:: CW, management accounts
1,5 mln sqm
4,2 mln sqm
5,7 mln sqm
58,6 RUB bn
153,5 RUB bn
12,9 RUB bn
5. Company transformation
Investing in operational eficiency and Company transformation
29
SalesProcurementManagementProduct
1. Introduction of technology for managing the process of creating and developing products aimed at:
- Increase the speed of innovation implementation
- Cost control
2. Transformation of the design process:
- Technology and design speed
- Digitalizing control and tracking of design progress
- Introduction of IT-programming technologies
1. Digitalization and creation of a platform for project and construction management at all stages of execution and supply chains
2. Industrialization of construction and investments in «prefabricated" technology to reduce the time and cost of construction and improve the quality level
3. Uberization of the construction management process and reduction of the number of levels of management for construction participants
1. Developing of long-term relations with production plants and contractors
2. Reducing the number of participants in supply chains - excluding intermediaries. Creation of an IT platform for management of the supplier-contractor-developer scheme
3. Consolidation of procurement and supply management for construction companies
4. Investments in the training and effectiveness of building contractors
1. Digitalization of sales and omnichannel interaction with customers
2. Technology of the sales process: eficiency and speed
3. Customer service and interaction at all stages - from the sale of an apartment to giving the keys
4. The introduction of technology NPC and Customer Journey
Appendix
1. Market overview
Dynamics of interest rates and mortgage market
32
Dynamics of monthly change in the mortgage housing loan in the Russian Federation, RUB mln
*Source: https://erzrf.ru/
Jan. 17 Feb. 17 Mar. 17 Apr. 17 May 17 Jun. 17 Jul. 17 Aug. 17 Sep. 17 Oct. 17 Nov. 17 Dec. 17 Янв. 18 Фев. 18
1,671,69
1,71 1,72 1,731,75
1,73 1,74 1,751,78
1,801,82
1,77
1,821,78 1,79
1,82 1,83 1,841,86
1,831,85
1,871,89 1,90
1,921,90
1,941,97
2,01
2,08 2,082,10
2,12
2,08 2,09
2,152,18 2,18
2,20
2,242,26
Mortgages issued secured by DDU Martgages issued, total Mortgages issued secured by complete estate
Forecast of the dynamics of the average weighted interest rate of the secured by DDU, depending on the Central Bank's key rate and inflation
Dynamics of changes in the key rate and volume of lending
33
*Source: https://erzrf.ru/
Dynamics of changes in the weighted average price of apartments in new buildings in the Russian Federation, RUB/ m²
Dynamics of the key rate of the Central Bank and the volume of issued housing loan
January February March April May June July August September October November December
5,25,0
18,9
7,16,96,76,3
5,4
6,4
4,34,2
4,9
3,94,3
17,4
7,3
6,16,7
5,65,7
6,8
4,44,7
5,4
4,7
5,5
2016 2017 2018
Dynamics of construction in Russian Federation
34
*Source: https://erzrf.ru/
1 quarter 6 months 9 months FY
4,9
45,9
27,1
16,5
8,3
48,4
28,3
17,7
9,3
2016 2017 2018
Dynamics of completions of apartment buildings ,accumulated total in the RF, mln. sqm
Dynamics of completions of apartment buildings, monthly in the RF, mln. sqm
1 quarter 6 months 9 months FY
48 069
312 164
209 144
127 489
55 091
305 589
214 354
141 395
79 078
2016 2017 2018
Январь Февраль Март Апрель Май Июнь Июль Август Сентябрь Октябрь Ноябрь Декабрь
27 039
21 030
38565
3296931486
29878
27648
241292445923467
2447224226
16670
14195
36 970
28 389
25 87626 987
24 777
21 19521 613
19 187
21 517
23 353
40 150
15 565
2016 2017 2018
Dynamics of issued mortgage under DDU, accumulated in the RF, mln. sqm Dynamics of issued mortgage under DDU, monthly in the RF, mln. sqm
Renovation
35
• 26.04.2017 г. – Moscow's budget for 2017 was increased by 96.5 billion rubles to carry out preparatory activities: the formation of land
plots, the preparation of additional sites, the implementation of pre-design and design work
• 17.05.2017 г. – The Moscow City Law "On Additional Guarantees of
Housing and Property Rights of Physical and Legal Persons in the Implementation of Renovation of Housing in Moscow"
• 01.07.2017 г. – Federal Law No. 141-FZ was adopted to regulate the renovation of the housing stock in the city of Moscow
• 01.08.2017 г. – the Resolution of the Government of Moscow No. 497-
PP "On the program of renovation of the housing stock in Moscow" was adopted
• 1Q 2018 - 90 tenders for the design of the first stage of renovation in the amount of about 1 million m²
Background
• As of April 15, 2018, tenders were held for the design of 1.4 million square meters. m.
• 4Q 2018 - start of the construction of the 1st stage of renovation projects
• 2 half 2020 - 1 half 2021 года – completion of houses of the 1 wave of renovation and implementation of the 1st stage of resettlement
Next steps
1. Development and construction competencies, involvement of the management team of PIK Group
2.Construction and "design" capacities
• DSC and the Construction Industry (including monolithic technologies) of
PIK Group are named by the city as eligible suppliers
• PIK won 6 contests for the design of about 106 thousand m²
PIK participation
New law 218-FZ: PIK Group position
36
As a result of major acquisitions of assets in 2016, PIK has a
long-term reserve of a land bank for which construction
permits have already been received or can be received by
the end of June 2018, which will allow the business model to
be fully retained for these projects.
Land bank reserve
PIK Group has its own production facilities and advanced
construction technologies, which ensures a high degree of
industrialization of production and, therefore, the shortest
possible time for completing houses.
At the moment, the average term for the construction of
houses is 1.5 - 2 years, but taking into account the
continuous optimization of all stages of business processes,
the target construction period can be reduced to less than
1.5 years.
High speed of construction
Levels of credit ratings of PIK Group allow to attract unsecured debt financing to the level
of a holding company.
The last issue of PIK Group's bonds in the amount of 7 billion rubles was carried out after
the new regulation came into force, the maturity is 10 years, with the Issuer's right to repay
the issue ahead of schedule in full or in part during the circulation period.
Assignment of the ACRA rating at the level of BBB + and the revision of the negative
outlook of the S & P to a stable one were also made taking into account the new
regulatory field.
Access to unsecured financing
PIK Group also has long-term partnerships with Russian banks, both in terms of corporate
financing and in the field of mortgage lending.
Banks that provide mortgage financing during the construction phase actually assume the risk
of completion of construction and impairment of collateral.
At the same time, the percentage of penetration of mortgages into sales of PIK Group is
currently much higher than the average market, in recent months has exceeded 60%. Mortgage
lending is present at all sites, and accreditation of new projects of PIK Group is made by the
majority of partner banks in an automatic mode.
In 2017, at the expense of loan funds from partner banks, sales of PIK Group for more than 87
billion rubles were financed.
Large-scale positive experience of risk assessment of projects by banks
The organizational structure of the PIK Group includes over
250 legal entities, new projects are implemented on the
balance of individual SPVs.
In this regard, the new regulation will not lead to a
significant change in the group's tax burden.
PIK organizational structure
2. IFRS accounts
Consolidated statement of financial position
38
ASSETS31 December 2015 31 December 2016
(restated)31 December 2017
Non-current assets
Property, plans and equipment 7 752 22 530 23 524
Intangible assets 144 3 113 779
Investment property - 26 581 23 690
Equity accounted investees 170 289 496
Other investments 169 1 913 395
Trade and other receivables - - 1 531
Deferred tax assets 1 211 6 342 7 397
Total non-current assets 9 446 60 768 57 812
Current assets
Inventories 69 933 252 816 243 783
Other investments - 409 361
Income tax receivables 346 572 1 160
Trade and other receivables 9 958 16 899 29 620
Cash and cash equivalents 17 022 24 812 45 452
Total current assets 97 259 295 508 320 376
Total assets 106 705 356 276 378 188
EQUITY AND LIABILITIES
Equity
Share capital 41 295 41 295 41 295
Additional paid-in capital (8 470) (8 470) (8 470)
Retained earnings (886) 20 994 22 788
Total equity attributed to owners of the Company 31 939 53 819 55 613
Non-controlling interests 808 76 535
Total equity 32 747 53 895 56 148
Non-current liabilities
Loans and borrowings 12 894 55 111 44 702
Financial instruments measured at fair value through profit and loss
- - 997
Trade and other payables 988 10 403 10 160
Deferred tax liabilities 1 078 15 238 13 365
Total non-current liabilities 14 960 80 752 69 224
Current liabilities
Loans and borrowings 270 10 420 15 784
Trade and other payables 50 319 196 650 214 912
Provisions 7 801 13 559 20 544
Income tax payable 608 1 000 1 576
Total current liabilities 58 998 221 629 252 816
Total liabilities 73 958 302 381 322 040
Total equity and liabilities 106 705 356 276 378 188
Debt
39
2015 2016 2017
Loans and borrowings, current 270 10 420 15 784
Loans and borrowings, non-current 12 894 55 111 44 702
Total debt 13 164 65 531 60 486
Cash and cash equivalents (17 022) (24 812) (45 452)
Net debt (3 858) 40 719 15 034
Total debt/adj. EBITDA 1,0х 5,9х 3,9х
Net debt/adj. EBITDA -0,3х 3,7х 1,0х
Adj. EBITDA/interest paid 3,9х 8,1х 1,6х
EBITDA
40
2015 2016
(restated)
2017
Profit for the period 11 449 19 061 3 154
Plus: Depreciation of PP&E and amortization of intangible assets 1 124 930 1 649
Plus: Interest expense 3 741 3 128 11 333
Less: Interest income (1 338) (2 305) (3 729)
Plus: Income tax expense 1 833 2 703 1 198
EBITDA 16 809 23 517 13 605
Impairment loss/ (reversal of impairment loss), net 630 (2 874) 2 538
Change in fair value of investment property - (4 629) (967)
Gain on bargain purchase of subsidiaries - (5 942) -
Impairment loss on financial assets, net 208 95 329
Write-off of accounts payable (225) (156) (51)
Foreign exchange (gain)/loss, net (4 015) 893 (556)
Loss on disposal of PP&E 122 58 263
Loss on disposal of PP&E and other assets - (50) (161)
Penalties and fines, including reversals, net 64 54 1 755
Write-off of other materials 116 138 119
Other financial income - (2) (176)
Gain from change in long-term financial liability - - (1 050)
Adjusted EBITDA 13 709 11 102 15 648
Cost of land plots included in the cost of sales 1 389 1 484 5 047
Cost of projects accounted for at fair value, included in the cost of sales - - 6 673
Adjusted EBITDA excluding cost of land 15 098 12 586 27 368
Operational cash flow
41
2015 2016 2017
Adjusted profit for the year 13 540 11 780 14 108
Changes in:
Inventories before acquisitions and sale of development rights
(3 754) (13 279) 16 265
Trade and other receivables excluding prepayments for development rights and land plots
(481) (2 232) (14 531)
Trade and other payables 12 452 43 355 30 609
Provisions for cost to complete (2 101) (737) 8 018
Cash flow form operations before income taxes and interest paid and before acquisitions and sale of development rights and prepayments for development rights and land plots
19 656 38 887 54 469
Income taxes paid (1 793) (2 526) (4 559)
Interest paid (3 489) (1 373) (9 848)
Cash flow form operations before acquisitions and sale of development rights and prepayments for development rights and land plots
14 374 34 988 40 062
Acquisition, sale and prepayments for development rights
(5 178) (16 221) (14 732)
Net cash from operating activities
9 196 18 767 25 330
Consolidated statement of profit and loss
42
2015 2016 2017
Revenue from sale of real estate objects accounted for at historical cost 42 936 54 013 94 820
Revenue from sale of real estate objects acquired through business combinations and recognized at fair value at initial recognition- - 75 039
Other revenue 8 196 3 721 5 275
Total revenue 51 132 57 734 175 134
Cost of sales of real estate objects accounted for at historical cost (33 495) (36 791) (68 084)
Cost of sales of real estate objects acquired through business combinations and recognized at fair value at initial recognition- - (73 888)
Cost of other sales (26 220) (3 023) (4 769)
Cost of sales (33 495) (39 814) (146 741)
Gross profit of sales of real estate objects accounted for at historical cost 16 716 17 222 26 736
Gross profit of sales of real estate objects acquired through business combinations and recognized at fair value at initial recognition- - 1 268
Gross profit of other sales 921 698 506
Gross profit 17 637 17 920 28 393
Gain on disposal of subsidiaries and development rights, net 91 50 161
Distribution expenses (1 600) (2 910) (5 670)
Administrative expenses (3 645) (4 444) (8 466)
Decrease in fair value of investment property - 4 629 967
Impairment (loss)/ gain, net (630) 2 874 (2 538)
Gain on bargain purchase of subsidiaries - 5 942 -
Other expenses, net (285) (552) (3 695)
Results from operating activities 11 568 23 509 9 152
Finance income 5 615 2 463 5 562
Finance costs (3 949) (4 133) (11 679)
(Loss)/profit from financial activities 1 666 (1 670) (6 117)
Share of loss of equity accounted investees, net of income tax 48 (18) (58)
Profit before income tax 13 282 21 821 2 977
Income tax expense (1 833) (2 703) (423)
Profit and total comprehensive income for the year for continued operations 11 449 19 118 2 554
Profit and total comprehensive income for the year for discontinued operations (excluding income tax expense) - (57) 600
Profit and total comprehensive income for the year 11 449 19 061 3 154
3. Key projects
Salaryevo-park
44
Residential area "Salaryevo Park" is located in the south-west of
Moscow, just 500 meters from the "Salaryevo" metro station. The
large-scale project will be built in several stages and will include not
only residential buildings, but all necessary infrastructure:
kindergartens, schools, clinics and parking lots.
The green courtyard-parks, free from cars, will be equipped with
children's and sports grounds, as well as places for rest. In walking
distance from the district is the Ulyanovsk forestry, and in five minutes
drive are large shopping centers.
UNSOLD AREA,
THOUSAND М2
MARKET VALUE,
RUB BILLION
STATUS
1 246 39,2 On sale
Green Park
45
Residential area Green Park is located in a picturesque area near the
metro stations "Otradnoe" and "Botanical Garden". The district's own
infrastructure includes 3 kindergartens, a school, a clinic and parking
lots. The ground floors of the houses will accommodate shops and
service companies. Nearby there are hypermarkets "Auchan",
"Carousel", "Golden Babylon". In a 10-minute walk are the Sviblovo
manor and the Main Botanical Garden of the Russian Academy of
Sciences.
The cozy courtyards of the district are free from cars and completely
equipped for the people. Inside is a wide promenade, leading to the
central square with a rest area. All this will allow you to spend more time
in the fresh air and enjoy nature. Modern architecture and carefully
thought out details will make your life here comfortable and pleasant.
UNSOLD AREA,
THOUSAND М2
MARKET VALUE,
RUB BILLION
STATUS
233 12 On sale
Meschersky Les
46
The residential complex "Meshchersky Les» is a return to nature. We allocated
a whole block in a picturesque area in the west of Moscow between the
Borovskoye highway and the well-groomed Meshchersky park. The complex
consists of 6 blocks with a height of 14-25 floors with green courtyards.
Facades of houses are with bright ceramic tiles.
The picturesque courtyards of the residential complex are free of cars
and completely given to people. A wide promenade will connect them. All this
will allow you to spend more time in the fresh air and enjoy nature every day.
And modern architecture and carefully thought-out details will make your life
here comfortable and pleasant.
The complex will be provided with its own infrastructure. Here there are 2
schools, 2 kindergartens and several land parking lots. The ground floors will
hold shops, cafes and other services.
UNSOLD AREA,
THOUSAND М2
MARKET VALUE,
RUB BILLION
STATUS
175 5,7 On sale
Odintsovo-1
47
A new comfort class residential area "Odintsovo-1" is located in the southern part
of the city of Odintsovo, Moscow region, 10 km from MKAD along the Minsk
highway. The large-scale concept of the district development provides for the
creation of a harmonious urban environment, perfectly adapted for work and
leisure. The key advantages of the district are:
The area is connected with Moscow by a number of bus routes
from the metro station "Molodezhnaya", «Park Pobedy" and «Yugo-Zapadnaya". In
a 10-minute walk is the Vnukovo train platform. By train in 30 minutes you can
get to the Kievskaya railway station.
In a 10-minute walk from the district is a large Ulyanovsk forest park. Also nearby
are Podushkinsky, Meshchersky Forest Parks and Bakovoye Forestry. In the area
itself will be realized the ecological concept of "yard without cars", recreational
boulevards and a quay along the pond are arranged.
UNSOLD AREA,
THOUSAND М2
MARKET VALUE,
RUB BILLION
STATUS
555 3,7 On sale
Buninskie Luga
48
Residential area "Buninskie Luga" is located in New Moscow near the
"Buninskaya Alleya" metro station. The development of the project
"Buninskie Luga" includes the construction of schools, kindergartens,
clinics, shopping centers and parking lots. The school and
kindergarten have already been put into operation.
On the ground floors of the houses are shops and service
enterprises. Near the residential area are MEGA shopping mall,
hypermarkets Auchan, OBI, IKEA store.
UNSOLD AREA,
THOUSAND М2
MARKET VALUE,
RUB BILLION
STATUS
609 19,6 On sale
Mitino Park
49
The residential complex "Mitino Park" is located in the Krasnogorsk district of the
Moscow region, 10 minutes walk from the metro station "Mitino", close to the
north-west of Moscow, the Mitino district. The road to the center of Moscow
takes no more than 30 minutes. The complex includes a school, a kindergarten
and an underground parking.
The surrounding area has everything necessary for a comfortable life. In walking
distance are a kindergarten and a school. In close proximity are shopping and
entertainment centers "Crocus City Mall", "Your Home", "Wei-Park", "Mega-
Khimki". For families who prefer active recreation, the slope of the ski complex
"Snezkom" is open all year round. A 10-minute walk from the residential complex
is the Mitino Landscape Park. The territory of the park is characterized by a
diverse layout: high hills are replaced by spacious valleys.
UNSOLD AREA,
THOUSAND М2
MARKET VALUE,
RUB BILLION
STATUS
109 4,1 On sale