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Russian homebuilder PJSC PIK's new sales contracts up 6.3% YOY in 2019

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Russian homebuilder PJSC PIK's new sales contracts up 6.3% YOY in 2019

Russian homebuilder PJSC PIK Group logged new sales contracts worth 223.80 billion rubles in 2019, up 6.3% from 210.58 billion rubles in 2018.

The new contracts span 1.8 million square meters, down from 1.9 million square meters.

Total cash collections for the 12 months rose 16.1% annually to 284.55 billion rubles from 245.00 billion rubles. Collections from real estate sales amounted to 225.29 billion rubles, while collections from construction services and other operations reached 59.26 billion rubles.

The company's completions in 2019 were barely unchanged from a year ago at 2.0 million square meters. PJSC PIK launched three new projects and 85 new buildings in 2019, compared to 13 new projects and 102 new buildings in 2018.

As of Jan. 15, US$1 was equivalent to 61.56 Russian rubles.