MOSCOW, April 15, 2021 — PIK, the leading Russian residential real estate developer, released today its trading update for the three months ended March 31, 2021 (1Q2021).
1Q2021 key operational highlights:
● Value of new contract sales increased by 32% year-on-year to RUB 86 billion (518 th sqm) compared to RUB 65 billion (486 th sqm) in 1Q2020, including fee-development business segment of RUB 19 billion (91 th sqm), up 3 times compared to 1Q2020.
● Total cash collections increased by 31% year-on-year to RUB 106 billion, compared to RUB 81 billion in 1Q2020
— Cash collections to the escrow accounts increased more than 3 times to RUB 37 billion
— Cash collections from construction services, fee-development and other operations increased by 14% year-on-year and amounted to RUB 24 billion.
● In 1Q2021, PIK put on sale:
— 4 new projects compared to 3 new projects in 1Q2020.
— 39 new buildings in Moscow area, Obninsk, St. Petersburg and Yaroslavl (1Q2021 — 20 new buildings)
— Total area launched to the market amounted to 609 th sqm
● Completions amounted to 232 th sqm (304 th sqm in 1Q2020).
● Share of mortgage sales reached 77% in 1Q2021.
PIK has been operating in the market since 1994 and specializes in sales of affordable housing. Since its inception, the company has built about 27 million sqm of residential real estate. Since 2007, PIK is present on the stock market. The company adheres to best international standards of corporate governance. By the decisions of the Government of the Russian Federation PIK is included in the list of strategic enterprises of the Russian economy.