PIK is the largest Russian developer implementing comprehensive projects in ten regions of Russia with a focus on Moscow and the Moscow Region. PIK has been operating on the market since 1994 and specializes in the construction of comfort-class housing with all the necessary infrastructure.
Since its inception, the company has built 23 million m2 of residential real estate (370,000 apartments), providing housing for more than 1 million people. Only in Moscow and the Moscow region in 2019, the company is developing 47 projects. Today, PIK land bank is 10.8 million m2. The total revenue of the company in 2018 (in accordance with the financial statements prepared under IFRS) amounted to 245.8 billion rubles, which is 40.4% higher than the same figures for 2017.
PIK pays special attention to the construction of social infrastructure. Schools and kindergartens built by PIK are attended by almost 22,000 children. The company provides all children’s social facilities with all furniture, equipment, toys and everything else necessary for study, leisure and children’s educational activities. Along with kindergartens and schools, PIK builds clinics and hospitals, providing residents with medical services close to home.
The company employs approximately 13,000 people. The structure of the PIK includes one of the world’s largest architectural design workshops and a modern production complex. This allows the company to adapt to the needs of the market as flexibly and as quickly as possible. In 2015, the Company introduced to the market fundamentally new products of industrial and monolith house-building, and that completely changed the approach to the internal residential environment of the integrated development areas.
PIK production complex includes:
Alexinsky Reinforced Concrete Plant, Naro-Fominsk Reinforced Concrete Plant, Ochakov Reinforced Concrete Plant, NSS Plant (New Construction Systems, Obninsk), Volga-Form prefabricated reinforced concrete plant. The complex also includes concrete mixing units, semi-finished products for the entire product range, production of embedded parts, accessories, formwork, etc. The capacity of the entire production complex is 1.5 million m2 of prefabricated reinforced concrete and 500 thousand m2 of SEM facade structures per year, which currently fully satisfies the requirements of PIK for these products.
Since 2007, PIK is present on the stock market. The company adheres to the best international standards of corporate governance, which contribute to the successful running of business. By the decision of the Government of the Russian Federation, the company is included in the list of strategic enterprises for the Russian economy.
According to the Unified Register of Developers, PIK is the leader among Russian developers in terms of the volume of current construction of residential real estate and the volume of housing completed in 2018. In September 2018, ACRA affirmed PIK’s credit rating at BBB + (RU) and upgraded the outlook from «stable» to «positive», which means the highest probability of a rating upgrade in the short term. In addition, in the same year, PIK entered the TOP-50 of the most valuable Russian brands for the first time (Brand Finance Russia 50), ahead of all other developers. In April 2019, Standard and Poor’s upgraded PIK credit rating to B + with a stable outlook. The rating upgrade reflects the company’s stable financial position and operating performance as well as its sufficient liquidity position.