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PJSC PIK Group expects up to 200B rubles in total cash collections for 2018

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PJSC PIK Group expects up to 200B rubles in total cash collections for 2018

PJSC PIK Group estimates total cash collections for the 2018 full year to sit within the range of 180 billion Russian rubles and 200 billion rubles, marking a decrease from the 216.1 billion rubles it recorded for the 2017 full year.

According to its earnings release, the Russian homebuilder also forecasts total new sales of between 1.7 million square meters and 1.9 million square meters for full year 2018. The company logged 1.839 million square meters of new sales contracts to individual clients for full year 2017, representing a 93.6% year-over-year rise from 950,000 square meters.

As of March 1, US$1 was equivalent to 56.80 Russian rubles.