Developer Etalon increased sales by 53% in nine months – Kommersant
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The Etalon development group presented its main operating results for the nine months of 2023. At the end of January-September, real estate sales reached 65.2 billion rubles, which is 53% more than the same period last year, reported company press service.
According to the Etalon report, over the nine months, real estate sales in physical terms increased by 62% year-on-year and amounted to 340.6 thousand square meters. m. The developer’s cash receipts increased by 21%, to 52.9 billion rubles.
Sales volume in regional projects increased to 115.6 thousand sq. m. m and 5.1 times higher than the result of January-September 2022. The value of regional contracts increased 6.4 times, to 13.5 billion rubles. The average price per square meter was 191.4 thousand rubles, the average price per square meter of residential real estate was 227.6 thousand rubles.
From the report for the third quarter of this year it follows that Etalon increased real estate sales compared to the same period last year by 134%, to 31.2 billion rubles. Real estate sales in physical terms increased by 133% year-on-year and amounted to 156.3 thousand square meters. m. The group’s cash receipts increased by 121%, to RUB 24.7 billion.
The largest shareholder of Etalon Group PLC is AFK Sistema (MOEX: AFKS), it owns 48.8% of the developer’s GDR. Another 35.2% is in free float, 6.3% is held by the Emirati state holding company Mubadala Investment Company, 5% is held by the Kopernik Global Investors fund, and 4.1% is held by Prosperity Capital. The remaining 0.6% is owned by the company’s management.
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