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Residential complex "Varshavskoe shosse 141" (RC "Varshavskie hills", RC "Varshavskie lights")
Developer: PJSC "GROUP OF COMPANIES" PIK "
Full name: PUBLIC JOINT STOCK COMPANY PIK GROUP OF COMPANIES
Address (location) legal entity persons: 123242, MOSCOW, BARRIKADNAYA st., 19, p. 1,
OGRN 1027739137084 INN 7713011336 Creation of a legal entity before 01.07.2002
Date of entry into the Unified State Register of Legal Entities 08.04.2008
General contractor: LLC "Boes Construction" 117342 Moscow st. Butlerova, house 17B, room 11, room 60E.
INN 7728869293 PSRN 1147746093065
Construction time
Terms of the beginning and end of construction of the object of interest according to the permits.
Building 1. Building permit No. RU 77219000-010739 issued by the Committee for State Construction Supervision of Moscow on March 18, 2015. Start of construction in March 2015, commissioning in December 2016.
Building 2. Building permit No. 77219000-001375-2-15 issued on July 24, 2015. Start of construction in April 2015, commissioning in February 2017.
Building 3. Building permit No. 77219000-010897 issued on April 22, 2015. Start of construction in April 2015, commissioning in February 2017.
Building 4. Building permit No. 77219000-001-740 issued on March 18, 2015. Start of construction in March 2015, commissioning in December 2016.
Building 5. Building permit No. 77-219000-0012170-2016 February 2, 2016. Start of construction in July 2015, commissioning in May 2018.
Building 6. Building permit No. 77-219000-0012073-2015 issued on December 28, 2015. Start of construction April 2016, commissioning February 2018.
Building 7. Building permit No. 77-219000-0012053-2015 December 24, 2015. Start of construction in January 2015, commissioning in December 2017.
Building 8. Building permit No. 77-219000-0012357-2016 issued on March 16, 2016. Start of construction in August 2016, commissioning in July 2018.
Delaying deadlines
Number of renewals of the construction permit obtained. Terms of delaying construction.
There is no delay in the construction of the residential complex "Varshavskoe shosse 141" according to the obtained building permits. Construction work on the facilities is ongoing and not yet completed.
Conclusion: It is not possible to determine the risks associated with a delay in the construction time for this RC, due to the fact that the deadlines for the completion of construction according to the construction permits received for the construction objects of this RC have not yet come.
Delay in construction for other construction projects on average 1 year. The closer to completion of construction, the more likely the actual construction time will be indicated. In general, like many other Developers. The specified information is taken from unconfirmed sources and feedback from our clients about PIK.
For example, you can familiarize yourself with some of our solutions for collecting a penalty from PIK Group:
Extension of terms
The number of official extensions for the completion and commissioning of the facility.
The extension of the commissioning period for the buildings under construction has not been recorded.
Building 1, according to the permits, must be commissioned in December 2016. The deadline for the completion of the remaining buildings is from February 2017 to July 2018.
Conclusion: It is not possible to determine the risks associated with the delay in the commissioning of facilities for this residential complex, due to the fact that the dates for the introduction of facilities according to the project declarations of this residential complex have not yet come.
Risks can be assessed only by analyzing the construction and delivery of facilities built by PIK Group of Companies earlier.
Financial stability
The financial results of the developer (showing or not showing profit).
| Asset (main figures and final result in thousand rubles) | on 31.12.2015 | on 31.12.2014 | on 31.12.2013 |
| 1. Non-current assets | |||
| Fixed assets | |||
| Profitable investments in material assets | — | ||
| Financial investments | |||
| Deferred tax assets | |||
| ……………………………… | |||
| Total: | |||
| 2. Current assets | |||
| Stocks | |||
| including: | |||
| finished goods and goods for resale | |||
| investment contract costs | |||
| VAT on purchased material assets | |||
| Accounts receivable | |||
| Financial investments | |||
| Cash and other equivalents | |||
| ______________________ | |||
| Total: | |||
| Balance: | |||
| Passive | |||
| 1. Capital and reserves | |||
| Authorized capital | |||
| Additional capital (without revaluation) | |||
| Reserve capital | |||
| Retained earnings (uncovered loss) | |||
| ________________________ | |||
| Total: | |||
| 2. Long-term liabilities | |||
| Borrowed funds | — | ||
| Other liabilities | |||
| ________________________ | |||
| Total: | |||
| 3. Short-term liabilities | |||
| Borrowed funds | |||
| Accounts payable | |||
| _______________________ | |||
| Total: | |||
| Balance: |
| Report on financial results for January-December 2015. | January-December 2015 | For January-December 2014 |
| Revenue | 14 801 732 | 12 563 236 |
| Cost of sales | 6 619 306 | 6 842 846 |
| Gross profit (loss) | 8 182 426 | 5 720 390 |
| Administrative expenses | 3 136 615 | 2 486 588 |
| ……………………………… | ||
| Profit (loss from sales) | 4 146 112 | 2 440 839 |
| Income from participation in other organizations | 10 003 647 | 11 688 302 |
| Interest receivable | 884 142 | 981 389 |
| Percentage to be paid | 3 915 453 | 2 583 145 |
| Other income | 1 617 317 | 956 097 |
| other expenses | 10 990 976 | 6 191 344 |
| Profit (loss) before tax | 1 744 968 | 7 292 138 |
| Current income tax | ||
| incl. permanent tax liabilities | 1 886 933 | 1 655 320 |
| …………………………………… | ||
| Change in deferred tax assets | 1 538 100 | 151 884 |
| …………………………………… | ||
| Net income (loss) | 3 281 683 | 7 483 644 |
| Flow of funds | January-December 2015 | For January-December 2014 |
| Cash flows from current operations | ||
| Receipts, total: | 25 910 054 | 17 455 756 |
| incl. from the sale of goods, works and services | 5 953 818 | 8 080 309 |
| …………………………………………… | ||
| receipt of financing from the investor to perform the functions of the Customer / Developer: | 10 122 019 | 9 805 063 |
| receipt of investment contributions: | 6 373 325 | 2 070 682 |
| (including transactions with subsidiaries, associates and main companies) | ||
| other supply: | 3 440 419 | 1 624 327 |
| (including transactions with subsidiaries, associates and main companies) | ||
| Payments, total: including: | 30 224 764 | 25 321 079 |
| to suppliers (contractors) for raw materials, materials, work, services | 13 860 506 | 8 811 561 |
| in connection with the remuneration of employees | 2 399 597 | 1 624 270 |
| interest on debt obligations | 3 206 243 | 2 560 594 |
| …………………………………………… | ||
| investment contributions under investment agreements and (or) financing the expenses of the Customer / Developer 8 526 999 6 424 590 | 8 526 999 | 6 424 590 |
| Other payments | 1 054 218 | 4 920 844 |
| …………………………………………… | ||
| Balance of cash flows from current operations | 4 314 710 | 7 865 323 |
| Cash flows from investment operations | ||
| Receipts, total: | 20 683 280 | 16 103 336 |
| ………………………………………………… | ||
| from the return of loans provided, from the sale of debt securities | 12 646 512 | 2 922 088 |
| ……………………………………………… | ||
| dividends, interest on debt financial investments and similar receipts from equity participation in other organizations | 7 904 025 | 13 087 077 |
| interest on debt financial investments | 1 274 880 | 1 340 095 |
| Payments, total: | 15 394 054 | 10 644 120 |
| including: | ||
| ……………………………………………… | ||
| in connection with the acquisition of shares (interests) of participation | 5 394 457 | — |
| in connection with the purchase of debt securities, the provision of loans to other persons | 9 528 324 | 10 623 633 |
| _________________________ | ||
| The balance of cash flows from investment operations | 5 289 226 | 5 459 216 |
| Cash flows from financial transactions of receipts in total, including: | 27 196 064 | 33 490 684 |
| obtaining loans, loans for transactions with subsidiaries, dependent companies | 12 140 400 | 33 385 015 |
| from the issue of bonds, bills and other debt securities | 1 998 125 | — |
| Payments in total: | 27 066 159 | 33 360 355 |
| Balance of cash flows from financial transactions | 129 905 | 130 329 |
| Key financial indicators and ratios | 2010 | 2011 | 2012 | 2013 | 2014 |
| Revenue | 38 090 | 45 991 | 66 129 | 62543 | 61260 |
| Revenue from the sale of apartments | 27 123 | 35 245 | 54 764 | 53296 | 54282 |
| Gross profit | 2 892 | 8 685 | 14 326 | 17660 | 16020 |
| EBITDA | 2 063 | 11 679 | 10 692 | 13419 | 7513 |
| Lead. EBITDA | -429 | 5 870 | 10 628 | 14016 | 12508 |
| Profit before taxes | -8 096 | 6 412 | 401 | 8694 | 4407 |
| Net profit | -6 045 | 4 805 | 3 127 | 7448 | 3792 |
| Assets | 119 582 | 128 774 | 114 617 | 117231 | 96948 |
| Total debt | 43 978 | 47 071 | 43 211 | 29100 | 24487 |
| Cash | 4 350 | 2 874 | 5 067 | 11089 | 14239 |
| Net debt | 37 216 | 42 873 | 38 144 | 18011 | 10248 |
| Equity | -4 587 | 218 | 3 345 | 20623 | 21313 |
| Key operating data | 2010 | 2011 | 2012 | 2013 | 2014 |
| Gross cash receipts according to management accounting data, RUB million | 39 900 | 52 063 | 67 475 | 74752 | 61666 |
| Cash receipts from sales according to management accounting data, RUB mln | 27 582 | 34 974 | 52 296 | 62956 | 50951 |
| Total housing commissioning according to management accounting data, thous. m per year | 739 | 870 | 1 294 | 859 | 719 |
| The volume of contracts concluded with buyers according to management accounting data, thous. m per year | 392 | 510 | 658 | 677 | 620 |
| Transfer of apartments to buyers according to IFRS, thous. m. | 434 | 512 | 642 | 603 | 644 |
| Average selling price of apartments according to IFRS, rubles / sq. | 62 495 | 68 838 | 85 302 | 88385 | 84289 |
| Unsold area, total (million sq. M.), Including: | |||||
| - Moscow | 11 | 92 | 1 | 0,74 | 1,78 |
| - Moscow region | 381 | 385 | 4 | 3,36 | 1,86 |
| - Other regions | 5,59 | 2,15 | 1,98 | 2,82 | 1,52 |
Government contracts
Won: In 12 months - 111.8 million rubles. (one)
Total - 514.2 million rubles. (3)
The amount under the won government contracts does not have a significant impact on the financial results of PJSC PIK Group of Companies.
The amount of funds required for the construction of the residential complex "Varshavskoe shosse 141":
Building 1. The planned cost of construction is 3,728,000 thousand rubles.
Building 2. The planned cost of construction is 2,715,300 thousand rubles.
Building 3. The planned construction cost is 3,728,000 thousand rubles.
Building 4. Planned cost of construction 2 138 780 thousand rubles.
Building 5. The planned cost of construction is 1 529 219 thousand rubles.
Building 6. The planned cost of construction is 1 506 440 thousand rubles.
Building 7. The planned cost of construction is 1 506 440 thousand rubles.
Building 8. The planned cost of construction is 1 501 230 thousand rubles.
Total: 18 353 409 thousand rubles.
PJSC “Pik Group of Companies” has high standards of reporting on its activities.
According to the reports, the financial condition of PJSC “Pik Group of Companies” can be defined as stable.
The company's revenue over the past three years has exceeded 60 billion rubles. rub. and did not fall significantly. More than 80% of the revenue came from the construction and sale of real estate. Throughout this period, the company has consistently demonstrated profit.
So as of December 31, 2015, the profit amounted to 3,281,683 thousand rubles.
There is a stable positive balance of cash flows from current operations, which in 2015 amounted to 4,314,710 thousand rubles; a positive balance of cash flows from investment operations, which in 2015 amounted to 5,289,226 thousand rubles; a positive balance of cash flows from financial transactions, which in 2015 amounted to 129,905 thousand rubles.
The total debt of PJSC PIK Group of Companies has continued to decrease in recent years and at the end of 2015 was slightly more than 23 billion rubles.
The total commissioning of constructed areas has decreased in recent years, but nevertheless remains at the level of more than 600 thousand square meters of commissioned space per year. According to this indicator, the company is one of the three largest companies in the Russian Federation.
At the same time, in 2015 there was a decrease in the amount of profit in relation to 2014 (3,281,683 thousand rubles against 7,463,644 thousand rubles a year earlier), a decrease in the balance of cash flows from current operations (4,314,710 thousand rubles. against 7 865 323 a year earlier).
In addition, the fact that at the end of 2015 there was no distribution of dividends to the company's shareholders against 2,747,541 thousand rubles can probably indicate certain difficulties. a year earlier.
In addition, there is a certain overstocking of finished and ready-to-sell real estate. According to the presented report, it can be seen that the number of premises ready for sale (reflected in the section Current assets: - stocks, including finished goods) received by PJSC PIK increased in total terms in relation to previous periods (14,174,955 thousand rubles. at the end of 2015, 7 674 850 thousand rubles at the end of 2014, 4 339 359 thousand rubles at the end of 2013).
The same trend can be seen from the company's reports regarding apartments built and sold in 2015, expressed in terms of square meters.
It is obvious that the deterioration of the general economic situation in the country, the drop in sales in the new housing construction market could not but affect the operating performance of PJSC PIK Group of Companies.
Nevertheless, it is clear from the reports that the company is handling this difficult situation rather confidently.
There should be no problems with financing the construction of the Varshavskoe Shosse 141 residential complex.
Founders and management
Founders:
GROWING UP INVESTMENT LIMITED is a shareholder with 6.9587% of votes in the Developer's management body.
BENOLITA HOLDINGS LIMITED is a shareholder with 29.899% of votes in the Developer's management body.
LIDIOMO LTD is a shareholder with 11.5493% of votes in the Developer's management body.
VTB Bank (Public Joint Stock Company) is a shareholder holding 19.95% of the votes in the Developer's management body.
Credit Bank of Moscow (Open Joint Stock Company) is a shareholder holding 19.909% of the votes in the Developer's management body.
As of December 31, 2015, the following persons were the main beneficial owners of the Company's shares:
S. Gordeev - 29.9%
A. Mamut - 16, 0%
M. Shishkhanov - 9.8%
President: Sergey Eduardovich Gordeev - the person exercising the powers of the sole executive body of the Joint Stock Company.
Chairman of the Management Board of the Joint Stock Company since 28.05.2014
INN 773600375716
Established legal entities:
CJSC "FIRST LEGAL COMPANY"
LLC "PIK-profile"
LLC "Pik-industry"
LLC "Stroyekoresurs" and other 101 legal entities.
Predecessors
LLC Status Land
Conclusion: PJSC “Group of Companies“ Pik ”has a group of first-class shareholders:
one). VTB Bank with a 19.95% share. VTB Bank ranks second in the country in terms of assets after Sberbank of the Russian Federation.
The presence of such a shareholder ensures a high standard of control over the company's activities and the high quality of the financial statements provided.
2). According to Forbs magazine, shareholder A. L. Mamut has a personal fortune of $ 2.5 billion, and in 2015 he took 36th place in the list of 200 richest businessmen in Russia. This is also a positive point.
3). Shareholder M.O. Shishkhanov is the President of B&N Bank and has a personal fortune of $ 0.65 billion. in 2015 took 139th place in the list of 200 richest businessmen in Russia according to the Forbes magazine.
4). Shareholder Gordeev S.E. is the President of PJSC “Group of Companies“ Pik ”and having a personal fortune of $ 0.55 billion. in 2015 he took 152 place in the list of 200 richest businessmen in Russia according to the Forbes magazine. In the period from 2007 to 2010, he was a senator and represented the Perm Territory in the Federation Council.
These shareholders, being included in the list of the richest people in Russia, have access to capital, and have serious administrative resources.
The size of the authorized capital.
Authorized capital: 41,281,084,000 rubles. as of 06.08.2013
Activity profile
Is it a single-industry company, that is, dealing only with construction, or is it a part of a multi-industry holding company operating in different industries, and therefore more sustainable.
The company is a monopoly. According to open sources, the main field of activity is the construction of housing, social infrastructure, commercial real estate, production of building materials. In the structure of revenue, more than 80% of cash receipts are accounted for by the construction and sale of real estate, the rest is for the production of building materials, the operation of constructed real estate, etc.
In 2008, by the decision of the Government of the Russian Federation dated 25.12.2008 “The Pik Group of Companies was included in the list of strategic enterprises of the Russian economy. In 2015, this decision was confirmed.
Insurance
Whether or not they insure liability in the insurance company for the untimely delivery of the object.
In order to ensure the developer's obligations under contracts for participation in shared construction (in accordance with Article 15.2 of the Federal Law of December 30, 2004 "On participation in the shared construction of apartment buildings and other real estate objects", Article 23.1 of the Federal Law of November 29, 2007 "On mutual insurance ", the developer ensures the conclusion of contracts of civil liability insurance of the developer for non-fulfillment or improper fulfillment of obligations for the transfer of residential premises under an agreement in favor of each participant in shared construction with the Non-profit organization" Consumer Society for Mutual Lending of Developers "(TIN 7722401371 ORGN 1137799018367, location: 111024 g Moscow, Aviamotornaya st. 10, building 2, license for mutual insurance of aircraft No. 4314 dated August 13, 2015) as contracts are concluded in shared construction.
Information on the conditions of insurance in relation to each specific participant in shared construction is contained in the developer's civil liability insurance policy issued to him by the developer for non-fulfillment or improper fulfillment of obligations for the transfer of residential premises under an agreement for participation in shared construction and the Rules of mutual insurance of civil liability of the developer by the Non-Profit Organization “Consumer Society lending to developers ".
The rules for mutual insurance of the developer's civil liability were approved by the Extraordinary General Meeting of Shareholders of the Non-Profit Organization Consumer Society for Mutual Lending to Developers (Minutes 1/13 of November 15, 2013) and posted on the website: https://www.ovsz.ru.
The list of insurance companies entitled to insure the liability of developers was updated on January 14, 2016 by the Central Bank of Russia. It follows from it that the list of insurers that meet the requirements of Article 15.2 of the Federal Law of 30.12.2004 No. 214-FZ consists of 19 organizations.
Item No. Name of the insurer License number for insurance
- Limited Liability Company "Regional Insurance
company "SI No. 0072
2. Insurance Joint Stock Company "VSK" SI No. 0621
3. Joint Stock Company "Insurance Company" PARI "SI No. 0915
4. Insurance public joint-stock company "Ingosstrakh" SI No. 0928
5. Closed Joint Stock Company "Insurance Group" UralSib "SI No. 0983
6. Closed Joint Stock Company "Moscow Joint Stock Insurance
company "SI No. 1427
7. Open Joint Stock Company "International Insurance Company
trade unions "MESKO" SI No. 1461
8. Joint Stock Company "GUTA-Insurance" SI No. 1820
9. Open Joint Stock Company "Insurance Joint Stock Company
"ENERGOGARANT" SI No. 1834
10. Open Joint Stock Company "AlfaStrakhovanie" SI No. 2239
11. Limited Liability Company Information and Insurance SI No. 2496 ISK Euro-Policy Company.
12. Closed Joint Stock Company "Insurance Company" RSHB-Insurance "SI No. 2947
13. Open Joint Stock Company "National Insurance Company
TATARSTAN "SI No. 3116
14. Limited Liability Company Insurance Company "VERNA" SI No. 3245
15. Limited Liability Company Insurance Company "VTB
Insurance "SI No. 3398
16. Limited Liability Company "BIN Insurance" SI No. 3487
17. Limited Liability Company "Insurance Company" RESPECT "SI No. 3492
18. Limited Liability Company "Construction Insurance Group" SI No. 3857
19. Non-profit organization "Consumer society of mutual insurance of civil liability of developers"
ВС № 4314 The total amount of premiums collected by the Non-Commercial Partnership for Mutual Insurance of Civil Liability of Developers (POVS) in the first half of 2015 amounted to 377.806 million rubles. The amount of responsibility assumed by the company is 60.883 billion rubles.
As of 03/01/2016, the "Consumer Society for Mutual Insurance of Civil Liability of Developers" participated as a plaintiff in a civil claim against the Developer LLC "Sim-Group" to collect an insurance premium under an insurance contract in the amount of 1,364,372.05 rubles, which was won ...
There are no other legal proceedings where the company acted in administrative, civil, bankruptcy proceedings as a plaintiff, defendant, or third party.
As of 2015, the Non-Profit Organization "Consumer Society for Mutual Lending for Developers" is one of the three leaders in the insurance market for civil liability of developers.
In addition, a measure to ensure guarantees of the rights of participants in shared construction when concluding an equity participation agreement with PIK Group of Companies PJSC is a pledge on land and a share in an unfinished construction object (after state registration of the equity participation agreement) in the manner prescribed by Articles 13-15 of the Federal Law No. 214- Federal Law of 30.12.2004 "On participation in the shared construction of apartment buildings and other real estate objects and amendments to some legislative acts of the Russian Federation."
Conclusion: Thus, it can be concluded that the degree of guarantees of compensation payments to participants in the shared construction of the Varshavskoe Shosse 141 residential complex in the event of the developer PJSC Pik Group of Companies failing to fulfill its obligations to commission the facilities under construction in this residential complex is quite high.
Number of previously built houses, newly laid houses. Average delay of previously constructed facilities.
Over the past 3 years, the Developer has taken part in the implementation of the following projects for the construction of apartment buildings and other real estate objects:
one). Participation as a Technical Customer and Investor in the construction of a residential building at the address: Moscow, Perovskaya st., 66, building 1 (Commissioning date - 30.07.2013).
2). Participation as a Technical Customer and Investor in the construction of a residential building at the address: Moscow, Perovskaya st., 66, building 2 (Commissioning date - June 27, 2013).
3) Participation as a Technical Customer and Investor in the construction of a residential building at the address: Moscow, Perovskaya st., 66, building 3 (Commissioning date - June 27, 2013).
4) Participation as a Technical Customer and Investor in the construction of a residential building at the address: Moscow, Perovskaya str., 66, building 4 (Commissioning date - June 27, 2013).
5). Participation as a Technical Customer and Investor in the construction of a residential building at the address: Moscow, Perovskaya st., 66, building 5 (Commissioning date - 21.12.2012).
6) .Participation as a Technical Customer and Investor in the construction of a residential building at the address: Moscow, Perovskaya st., 66, building 6 (Commissioning date - 30.11.2012).
7) Participation as a Technical Customer and Investor in the construction of a residential building at the address: Moscow, Perovskaya str., 66, building 7 (Commissioning date - 12/30/2013).
8) Participation as a Technical Customer and Investor in the construction of a residential building at the address: Moscow, Perovskaya str., 66, building 8 (Commissioning date - 02/28/2014).
9) Participation as a Technical Customer and Investor in the construction of a residential building at the address: Moscow, Perovskaya str., 66, building 9 (Commissioning date - 12/30/2013).
10) .Participation as a Technical Customer and Investor in the construction of a school at the address: Moscow, Perovskaya str., 66d (Commissioning date - 31.12.2014).
11) Participation as a Technical Customer and Investor in the construction of a preschool educational institution at the address: Moscow, Perovskaya st., 66g (Commissioning date - 06/30/2014).
12) .Participation as a Technical Customer and Investor in the construction of a residential building at the address: Moscow, Partizanskaya str., 22 (Commissioning date - 07/11/2013).
13) .Participation as a Technical Customer and Investor in the construction of a residential building at the address: Moscow, Mironovskaya st., 46, building 1 (Commissioning date - 30.11.2012).
14) Participation as a Technical Customer and Investor in the construction of a residential building at the address: Moscow, Mironovskaya str., 46 (Commissioning date - 30.11.2012).
15) Participation as a Technical Customer and Investor in the construction of a residential complex at the address: Moscow, Mytnaya str., 7, building 1 and 2 (Commissioning date - 30.11.2012).
16) Participation as a Technical Customer in the construction of a residential building at the address: Moscow, settlement Sosenskoye, st. Alexandra Monakhova, 95 building 1 (Commissioning date - 05/29/2014).
17) Participation as a Technical Customer in the construction of a residential building at the address: Moscow, Aleksandra Monakhova st., 95, building 4 (Commissioning date - 03/02/2015).
18) Participation as a Technical Customer in the construction of a residential building at the address: Moscow, settlement Sosenskoye, Aleksandra Monakhova str., 105, building 2 (Commissioning date - April 30, 2014).
19) Participation as a Technical Customer in the construction of a residential building at the address: Moscow, Aleksandra Monakhova st., 103 (Commissioning date - April 30, 2014).
20) .Participation as a Technical Customer in the construction of a residential building at the address: Moscow, Sosenskoye, Aleksandra Monakhova st., 105, building 1 (Commissioning date - 31.10.2014).
21) Participation as a Technical Customer in the construction of a residential building at the address: Moscow, settlement Sosenskoye, Aleksandra Monakhova st., 95, building 3 (Commissioning date - 31.10.2014).
22) Participation as a Technical Customer in the construction of a residential building at the address: Moscow, Sosenskoye settlement, Alexandra Monakhova st., 95, building 2 (Commissioning date - 31.10.2014).
23) Participation as a Technical Customer and Investor in the construction of a residential building at the address: Moscow, Shcherbinka, Chekhova st., 4 (Commissioning date - 30.11.2012).
In none of these facilities PJSC PIK Group of Companies acts as a Developer. The company built all these objects through the creation of housing cooperatives (housing construction cooperatives). Unlike construction with the conclusion of equity participation agreements, where the procedure for the developer's work with the borrowed funds by the shareholder is strictly regulated, namely:
The need for state registration of equity participation agreements;
Receipt of funds only after the publication of the project declaration and obtaining a building permit;
The term for construction, commissioning of objects and the transfer of apartments to participants in shared construction, etc., clearly spelled out in contracts, construction through the creation of a housing cooperative allows not to carry out state registration of contracts, to receive funds from shareholders of housing construction companies before obtaining permits. In addition, construction by means of a housing cooperative does not imply the presence of a project declaration, which defines the terms of construction of the facility and its commissioning, because the shareholders of the housing cooperative themselves take risks, including the timing of construction.
In the absence of official documents regulating the construction period, one cannot speak of a delay in the delivery of any objects. We can only talk about the violated promised terms, which were orally indicated when concluding contracts with the housing cooperative.
By communicating in the forums, you can determine that at least the objects listed below were commissioned later than the promised deadlines.
RC "English Quarter" was detained for 9 months.
Residential complex "17th passage Maryina Roscha" was detained for 6 months.
Residential complex "Krasnaya Gorka" Lyubertsy detained.
Please note that the information provided is taken from an unconfirmed source and may not correspond to reality. For more accurate information, please contact the developer directly.
The construction of the residential complex "Varshavskoe shosse 141" is carried out in accordance with the Federal Law No. 214 dated December 30, 2004 "On participation in the shared construction of apartment buildings and other real estate objects."
Citizens who have entered into an equity participation agreement for the purpose of buying apartments in this residential complex will be more rigidly insured in terms of respecting their rights. Equity participation agreements will have to go through state registration, and the deadlines for delivery are strictly indicated in the agreements.
In case of violations of the deadlines, equity holders, according to the law, will be able to count on the termination of contracts and compensation for untimely delivery.
Accreditation
Accreditation of the Developer LLC "Expert" in banks:
one). Sberbank
3). Gazprombank
4). Bank of Moscow OJSC
5). Bank "Revival"
6). JSC "Rosselkhozbank"
7). JSCB "AbsolutBank"
8). JSC "UniCredit Bank"
talks about the reliability of the project. During accreditation, banks carefully check the developer's permits and financial documentation, and determine the degree of risk.
Awards for profile achievements, prizes and diplomas.
In 2014, the Group was recognized as the best residential real estate developer in Russia by the British magazine Euromoney. The international rating agency Standard & Poor’s assigned the company a B / positive corporate credit rating with a positive outlook.
In 2015, World Finance Magazine recognized PIK Group of Companies as the best residential real estate developer in Europe. RA Expert assigned the Group a credit rating of A + with a stable outlook.
How many years the company has been on the market. Its reorganization and change of names in recent years (which indicates the accumulated problems and the desire to solve them by moving to another, "clean" legal entity).
The company has existed since 1994. There were no reorganizations or name changes. During this period, the composition of the founders has changed several times. The PIK group of companies is engaged in the construction and sale of economy-class housing mainly in the segment of industrial housing construction. The company operates in 27 cities of Russia, with a focus on Moscow and the Moscow region. Since its inception, the group has built over 14 million m² of real estate (about 220,000 apartments). The land bank of PIK Group as of December 31, 2013 amounted to 7 million m².
The PIK group of companies includes over 50 divisions in various regions of Russia, with a staff of about 11,000 people. The group is accredited by 18 largest Russian banks.
Violations
Results of planned and unscheduled inspections of the State Construction Supervision Committee. Violations identified by the committee.
moscow March 18, 2016 Case No. А41-13764 / 16 and 22 March 2016 Case No. А41-14758 / 16: To attract Public Joint Stock Company "PIK Group of Companies" located at the address: 123242, Moscow, st. Barrikadnaya, 19, bld. 1, PSRN 1027739137084, TIN 7713011336, registration date - August 30, 2002, to administrative responsibility provided for in part 6 of Article 19.5 of the Code of Administrative Offenses of the Russian Federation with the imposition of an administrative penalty in the form of an administrative fine in the amount of 50 000 (fifty thousand) rubles
Lawsuits against a construction company on an object of interest or in general. The results of these lawsuits. Debt data. Enforcement proceedings against the company.
Execution proceedings:
The remainder of the amount to be collected is 155.1 thousand rubles.
Arbitration cases
Role 12 months all time
Defendant 6.9 million rubles. (4) 5.4 billion rubles. (90)
Plaintiff 327 million rubles (21) 10 billion rubles. (83)
Other 4.5 million rubles (4) 24 million rubles (22)
Defendant in 3 years: 503 million rubles. (17)
Claimant for 3 years: 2.2 billion rubles. (47)
Total: the amount of claims, where PJSC “Group of Companies“ Pik ”acted as a plaintiff and for which the decision came into force amounted to 7.4 million rubles.
Claims for which PJSC “Group of Companies“ Pik ”acted as the defendant and for which there is a decision that has entered into legal force on the payment of amounts in favor of the plaintiffs for the last 12 months.
Bankruptcy cases - 1
To terminate the proceedings in case No. А40-202647 / 15-24-479 B at the request of PIK Group of Companies PJSC on declaring LLC MATIK insolvent (bankrupt)
It can be concluded that the legal service of PJSC "Pik Group of Companies" is a lot and willingly involved in arbitration litigation. Over the past year, there were 29 such processes.
The positive result of the company's participation in the processes over the past 12 months, where it acts as a defendant, is 100%. The amount of funds to be collected from the company is zero
The effectiveness of the processes where the company participates as a plaintiff is low.
In relation to the amount of the claim, the total amount of penalties for which the decision came into legal force amounted to no more than 7.5 million rubles.
Object discussions
Criticism (excerpts from Wikipedia article).
Many wondered who will be the successor to the unfinished projects, and will this successor follow the same path to bankruptcy?
PIK Group is the undisputed leader
The largest Moscow developer is the PIK group. This is the result of the rating presented by the National Association of Housing Developers. The volume of the current residential construction of PIK Group in the capital is 2.47 million square meters. PIK has far outstripped its competitors. The second and third places were taken by LSR Group and MR Group with volumes of 795 thousand square meters and 759 thousand square meters.
GK PIK broke out to move to the construction site in the Moscow region. The volume of housing being built here amounted to 2.2 million square meters. And again, a rapid lead over competitors.
GK PIK has something to be ashamed of
However, the fate of the leader may turn out to be unenviable, given the state of affairs in the industry and the recent bankruptcies of the Moscow region developers SU-155 and Urban Group, accompanied by a mass of scandals. Of course, the Moscow housing market is the most attractive and stable in the whole country, but this by no means guarantees the stability of the players, whose appetites far outstrip the purchasing power of the population.
And here is the first alarm bell: PIK Group of Companies will not take part in the largest industry event for the first time - the Real Estate from Leaders exhibition, which is traditionally held in the capital twice a year. There is no developer in the list of participants in the autumn event.
Of course, the recent major bankruptcies involuntarily make one wonder how stable the position of the leader is, and whether there are any features in his activities that resemble the activities of the recently descended SU-155 and the Urban Group. It turns out there is. There are shell companies, unscrupulous projects, and defrauded equity holders.
Leaders and switchmen
For example, the residential complex "Ilyinsky Luga" was built without a sewerage system. When assessing the volume of residential construction by PIK Group, this complex was probably taken into account and helped to secure the group first place in the rating. However, the official developer in this case is Grad Olympus LLC, and if the object is not completed, then all claims will be against the intermediary, and not against the parent organization.
Here's how it goes: the shooters get the switchmen, and the ratings get the group. By the way, the unfairly drafted project was transferred to PIK Group from the bankrupt company Morton, which the group acquired in 2016. It turns out that a respectable developer accepted a lot of low-quality projects on its balance sheet, but did not radically change anything, did not return the money to the equity holders, and the issue of the Ilyinsky Meadows sewage system is still hanging in the air.
There are other projects with a suspicious smell, for example, the inherited PIK “Mortongrad Putilkovo”, according to which they decided to collect additional money from the residents for infrastructure, but they never built anything.
That is, the water in the boiler of PIK Group of Companies is already boiling, the indignant and protesters are getting more and more active. If companies stop trusting banks, the decline will be as rapid as that of their predecessors.
Analysts blame inept and arrogant management, they say, it's about people. Once again, they want to tell us that structural problems can be solved by personnel changes. However, the problem runs much deeper. Even a few. This is the fall in the incomes of Russians, and the overheating of the market with the help of crazy dubious investments, and the existence of private development as such.
The construction of cities should not be carried out anyhow, but in accordance with a single well-thought-out plan: then the sewage system will not have to be drained into the nearest river, and the schools and hospitals drawn on paper should be passed off as real ones.
Of course, the state can rush to the rescue of a respectable business: fill financial holes with a stream of budget money, prop up the reputation of construction magnates with its authority. However, what will be left of the budget in this case, and will the state authority sag in the eyes of citizens?
GC "PIK" in Moscow it is like Putin in Russia. It is possible to talk a lot and badly about it, but it will still always move forward and remain in the eyes of potential buyers the number 1 developer. If only because it almost always rents out its residential complexes on time. Well, because every highway in the region is covered with advertisements.
Today I invite you to analyze in detail all the information that I collect on the channel https://t.me/novostroyman and in my head - and finally decide: is the PIK Group as good as it is portrayed?
Consider in this article a brief history of the company, the figure of its main owner - Sergei Gordeev, the pros and cons of the corporation and the iconic new buildings of the PIK Group. Go!
PIK Group: key facts
The founder of PIK Group of Companies was not at all Sergei Gorodeev, as many people mistakenly believe today. It was founded by Yuri Zhukov and Kirill Pisarev in the now distant 1994.
BTW!
PIK is an abbreviation, which means it is nothing more than the "First Mortgage Company". True, Internet users seem to have forgotten about this for a long time and are ironic over PIK as soon as they can. I quote: “Calling this company“ PIK ”, I believe, is incorrect. She simply has to be called "PUK".
PIK Group is a public company, 17.8% of the shares are in free circulation, 74.6% are owned by Sergei Gordeev, 7.6% - PJSC VTB Bank. But first things first.
Short story
The first years of the company's existence cannot be called particularly outstanding, it is difficult to recall any amazing facts of this period. Really hectic activity, in fact, begins here in 2001, when PIK buys DSK-2 in Moscow, and in 2005, PIK acquires another plant - DSK-3 - from a very famous in Luzhkov times company - "Inteko", which was owned by Elena Baturina herself - the wife of the famous mayor of Moscow.
More numbers!
Thus, "PIK" combined the capacities of two enterprises: DSK-2 could produce up to 450,000 m2 per year, and DSK-3 - even more: 500,000 m2.
Thanks to the capacities obtained, the company has become one of the largest manufacturers of "panels", for which it is famous to this day.
PIK Group in 2006
Since 2006, “PIK” begins “expansion” (almost the same as Christopher Columbus organized when he discovered America) into the regions. Boxes of various series, but of the same style, begin to appear in Kaliningrad, Kaluga, Obninsk, Yaroslavl, Nizhny Novgorod ...
PIK Group in 2007
2007 becomes a landmark year for the company, it announces an IPO and reaches a capitalization of $ 12.3 billion. 15% of the shares were sold for $ 1.85 billion.
PIK Group in 2008
2008 hit PIK just as unexpectedly and hard as it did to all other organizations. The volume of housing under construction has decreased by almost 2 times compared to 2007. But help came from where they did not expect: the Russian government introduced the company to a list of strategic enterprises, which, in general, did not have a very positive effect on the economic situation of PIK.
PIK Group in 2009
2009 was marked by the loss of a controlling stake by the founders of the company in favor of Suleiman Kerimov. They gave 25% of PIK shares in exchange for restructuring the company's debt.
At the same time, the developer received government guarantees from the government.
PIK Group in 2010
The summer of 2010 brought sad news. First, the real estate of Yuri Zhukov, the founder, was arrested by the decision of the Meshchansky court, since it acted as a pledge before the Nomos Bank, which provided the loan. And then one of the structures of the First Mortgage Company, PIK-Development, was declared bankrupt.
PIK Group in 2010-2012
In 2010, the company received $ 425 million from Sberbank to replenish working capital, optimized internal processes, commissioned 740,000 m² of housing, increased its sales and, as a result, reduced losses by 47%.
An interesting fact: despite this, in 2010, PIK Group did not pay dividends. Such a difficult decision was made following a general vote of shareholders.
In the following years, 2011-2012, the company was engaged in restoring construction volumes and strengthening economic stability.
Hello, Sergey!
Efficiency, new sites, an increase in construction and sales - it seems that all this began to grow only with the arrival of this particular person in the company. By the way, Gordeev eliminates competitors as skillfully as a matador acts in the arena.
In 2016, he buys Alexander Ruchev's Morton company with almost all existing projects and problems and becomes the main player in the field of “standard-class” housing, as they say today, and also occupies the 90th line of the richest businessmen in Russia on the Forbes list. In April 2018, it rises almost 40 lines higher - to 57th place.
And already in 2017, the company entered the first places in the most diverse ratings of Russian developers, thanks not only to the construction volumes, but also to the active, and I would even say, aggressive, advertising activities of the company.
PIK GC post in Ilya Varlamov's blog
It is worth noting that the Internet promotion of new buildings from PIK is becoming very specific: Yandex.Direct, Google Adwords, Cyan, Ilya Varlamov's blog.
But not a single (not one!) Major transport artery of Moscow is complete without a colonnade of numerous standard PIK billboards. Sometimes it seems to me that this is not even brand formation, but something from NLP.
Yes, PIK loves outdoor advertising. Have you ever thought about how much this billbeard happiness costs? Let's reveal the secret: rent of 1 shield in Moscow and the region varies within RUB 31,000 - RUB 465,000 / month depending on the location.
But back to history. In the summer of 2017, Mr. Gordeev (for some reason he can't call him any other way) buys out 16% from Alexander Mamut, and from Mikail Shishkhanov - 9.8% of PIK shares. And already in October he gets his “cherry on the cake” - 24.6% of the minotarians' shares. Thus, by 2018, the shareholder simply becomes the holder of a controlling stake, having consolidated 74.6% of the shares in their hands.
Unbelievable, but it is a fact
But, as surprising as it may seem, the company seems to benefit from this. At the end of January 2018, the Moscow Mayor's Office published the TOP developers for housing commissioning in 2017, where PIK Group of Companies (oh my God, how amazing!) Took 1st place.
Sergei Gordeev prefers to donate his trading assets for the sake of residential construction. On March 26, 2018 it became known that he was ready to sell 2 objects: the shopping center “Riviera” and the shopping center “Salaris” (by the way, at the residential complex “Salaryevo Park” under construction by the same GC “PIK”) to the Kyrgyz company KLS Securities. The deal has not been concluded yet, but experts have already expressed their predictions about the possible cost. The deal could bring the president of PIK Group of Companies 45 billion rubles.
With all this, Gordeev can hardly be called a media person. In major programs and interviews, he is shown no more than once a year. Even in the film “ A Home for Everyone: How It's Done | PIK Group ”, his comments did not take more than a few minutes.
Staff
As of April 2018, PIK employs 14,263 people. And hardly any of them can be called media. They, to match the president, flaunt, basically, only on the official website of the group, in the "Management" section.
At the moment, the Board of Directors includes 9 people, 14 more represent the Management Board. Surprisingly, few of them even took part in their own film about industrial construction. To be more precise - only, in fact, Mr. Gordeev and Alexey Almazov, vice president of design.
Key employees of PIK Group
Governing body Board of DirectorsOther key employees
- Sergey Gordeev - President and chairman of the board;
- Alexander Prygunkov – 1st Vice President and Chief Operating Officer;
- Denis Ivakin - inice-president and director of the design department;
- Alexander Titov - iniCE President for Economics and Finance;
- Gennady Rosso - inice-president and director of the sales department;
- Stanislav Kondratyev - iniCe President and Director of Product Department;
- Natalia Semikova - inice-president for initial permits and land and property relations;
- Alexey Almazov - iniTE-President for Engineering;
- Vyacheslav Borisenkov - iniCE President for General Affairs;
- Alexey Kozlov - iniCE-President and Director of Directorate for the Moscow Region;
- Ivan Polandov - initse-president and director of directorate for Moscow;
- Elbrus Gobeev - ggeneral Director of PIK-Industry JSC;
- Ilya Tikhomirov - ddirector of the Information Technology Department;
- Alexey Zolotarev - inice President of Land Assets Development.
- Marina Zinovina - Pchairman of the board of directors;
- Alexander Varennya –
- Sergey Vorobyov – member of the board of directors;
- Zumrud Rustamova – independent member of the board of directors;
- Alexey Blanin – independent member of the Board of Directors;
- Georgy Figin – member of the board of directors;
- Marina Grönberg – member of the board of directors;
- Alexander Dolzhich – member of the board of directors;
- Alexey Karpenko – member of the board of directors.
- Esatia Badri - Chief Architect of the PIK Group of Companies;
- Natalia Dubrovskaya - Chief Architect of the Design Department;
- Pavel Turkov - the head of the territorial administration.
If you are one of those people who ask themselves the question: who developed this “chic” design of Pik's houses - and dream of looking into the eyes of the chief architect of PIK, I hasten to upset you: Esatia Badri, who holds this post, does not appear in the film either ... Therefore, we can only admire its architectural solutions.
Office
The central office of the PIK Group of Companies is located in Moscow, at ul. Barrikadnaya, 19 building 1, near the metro station Barricade. It works 12 hours: from 9 to 9 (or rather, until 21:00) and, in general, is not remarkable at all. Except for the fact that on May 18, 2017, the Investigative Committee conducted high-profile searches here during the investigation of a criminal case on causing damage to the Dynamo sports community (one of the counterparties of PIK Group).
Oratory lessons from the PIK Group
Renovation participation
PIK is one of the developers participating in the Moscow renovation program. For the needs of the state, space will be allocated in such residential complex companies as:
- (100,000 sq.m. will go to the program);
- (80,000 sq.m.);
PIK Group: reviews
Reviews about PIK Group of Companies are very different on the Internet. So that you can study the main claims here, without going to numerous forums, I will analyze everything I know and hear, right here, dividing all references into positive and negative. Well, if you really want live reviews, you are welcome to.
pros
Of course, the main advantage of the company is its predictability. You know for sure that, whatever the times outside the window, your house will be built. Yes, perhaps with a delay in delivery, but it will definitely not turn into a long-term construction that no one needs. There is quite strong evidence of this:
- The company has 2 own factories of precast concrete products... The former DSK No. 2 and No. 3 turned into the Ochakovsky precast concrete plant and the Vostryakovsky precast concrete plant. And their "union" is now known throughout the country as "PIK-Industry".
- 99% of new buildings from PIK Group are very affordable, which means that they are selling well and quickly, replenishing the company's treasury.
The second significant plus of the company is the construction of new buildings with finishing. In almost every new house you can find apartments with this option, which means that after receiving the keys, you can safely move to the received housing.
I have already indirectly voiced one more significant advantage above - availability... Most of the new buildings from "PIK" are well-known panels, albeit slightly improved. Due to the ease of production of panels and their versatility, one floor of a 9-apartment section is built in 2 days. This is what determines the attractive prices for new buildings "PIK".
Minuses
Everyone who has ever looked at the new buildings of PIK Group of Companies has seen that their houses do not have ANY individuality. The same type of panel boxes of regular geometric shapes and bright colors are what these houses are. Can you, dear reader, distinguish the residential complex “Buninskie Luga” from, for example, the residential complex “Izmailovsky Les”?
Okay, okay, I agree, the task is too difficult. Then another try. Let's compare yards Residential complex "Salaryevo Park" and LCD Green Park.
Does not work? Dont be upset! Even market experts are often powerless in this matter.
The second serious disadvantage, which is often talked about, concerns the violation of the rights of equity holders of Morton, a company that PIK acquired in 2016.
Perhaps the most striking example is the story of the "Peter I" residential complex in the Lefortovo area, which was initially sold as a business-class complex of 6 buildings. After the project passed into the hands of “PIK”, the territory of “Peter I” was divided into 2 buildings, in fact, “Peter” itself and the new project “Lefortovo Park”. "Thanks" to such a move of the developer, instead of the promised 6 buildings, now 14 will appear here.
Those. people who preferred RC “Peter I” over, for example, RC “Symbol” due to the fact that the former promised to be more chamber, with fewer buildings, as a result, lost the advantage, because of which they made their choice ...
The third disadvantage is delays in delivery dates. Despite the fact that PIK does not list a single long-term construction, the developer does not always adhere to the deadlines for delivery. At the same time, it is quite difficult to restore the initial deadlines, because the company removes all project declarations from the site.as soon as the housing is put into service. But we can say for sure: there were delays in the delivery dates in the residential complex "Meshchersky Les", the residential complex "Peter I", the residential complex "Mosfilmovskaya".
The fourth negative is non-observance of safety measures at construction sites. It's not a secret for anyone that during the construction of the complexes the workers have suffered more than once. In May 2017, a construction crane collapsed in the Lyuberetskiy residential complex, in September of the same year - in the Novokurkino residential complex. If safety practices are violated, are other standards followed? This is the question potential buyers are asking.
Bankruptcy?
The bankruptcy of PIK Group of Companies is one of the favorite topics of all representatives of the real estate market. “PIK” has not completed the complex on time? Bankruptcy is near! Did the company's profit fall 6 times in 2017? Go bankrupt! PIK postponed bond placement? Bankrupt!! And it doesn't matter at all that new large-scale objects are being prepared for launching into the market, investments in which were required in 2017, and the profit from the sale of which will come only in 2018-2019.
In fairness, it's worth noting that the company was once on the brink of failure. One of the subsidiaries, PIK-Development, expected to sell apartments for 5 billion rubles by 2009, which did not happen due to the crisis that hit the country. Then 25% of shares were sold to Suleiman Kerimov, who stabilized the situation in the entire group of companies, but PIK-Development had to be sacrificed.
In 2018, PIK does not face bankruptcy, the company is confidently selling the built apartments and preparing new and new projects to enter the market, so only the author of a publication eager to hyip can call it bankrupt.
New buildings of the PIK Group
news
Top news for 2019:
- On January 22, 2019, the company announced the results of work in 2018. PIK commissioned 102 new buildings for the indicated period (against 99 in 2017), launched 13 new projects (against 11 in 2017), the volume of real estate sales increased by 5.6% to 1,941 thousand. sq. m (versus 1,839 thousand sq. m in 2017), and the volume of cash inflows increased by 20.4% to 245.0 billion rubles (against 203.4 billion rubles in 2017)
- Top managers of the company told Interfax that in 2019 PIK is not going to acquire new sites for construction.
- “PIK” according to the results of the calculation “Metrium” is the largest developer in terms of the volume of housing sold in “old” Moscow.
- 03/20/2019 PIK Group of Companies announced that launches the sale of a development franchise in Russia and abroad. Developers who are open and focused on innovation, players in the new project finance market, real estate market consultants and holding companies that do not have internal expertise will be able to use the new PIK service. - commented in the PIK Group.
- 04/01/2019 it became known that PIK Group and LSR Group can receive special conditions when switching to escrow accounts... The government started talking about the formation of a pool of “backbone enterprises”, writes Vedomosti. And the 2 companies mentioned above may be included in this “white list”. The requirements for “backbone enterprises” are as follows:
- The company operates in at least 5 regions;
- Builds over 1 million sq. m of housing;
- It is public.
Only PIK and LSR meet these requirements. Apparently, these companies will be allowed to build according to the old rules if the house is 10% ready (instead of the standard 30% for other developers). If we are talking about a project for the integrated development of territories, the readiness may be 6% (example -).
- 01.04.2019 Standard and Poor's upgraded PIK's credit rating to B +... The forecast is stable.
- 04/02/2019 PIK Group of Companies announced iFRS financial results for 2018:
- Total revenue - RUB 245.8 billion (+ 40.4% compared to 2017);
- The margin is 22.4%. (+ 6.2%);
- EBITDA - 42.8 billion rubles. (+ 214.7%);
- Net profit - RUB 21.3 billion;
- Net debt - 2.5 billion rubles (at the end of 2017 - 15.0 billion rubles).
- 07/04/2019 PIK Group entered the TOP-50 Brand Finance Russia 2019. Sergey Gordeev's company is on the 41st line of the rating of the most expensive Russian brands. Brand Finance Russia 50 estimated PIK at RUB 22.220 billion.
- VTB increases its stake in PIK Group to 23.05%.VTB Group buys 15.48% of the shares of the developer company from Sergey Gordeev. Sergei Gordeev retains 59.15% of the shares, VTB Group - 23.05% of the shares.
- 07/08/2019 Fitch Ratings (a rating agency) assigned PIK Group a credit rating at BB-. The forecast is stable.
- 07/10/2019. They are as follows:
- Real estate sales increased by 15.1% to 101.2 billion rubles (against 88.0 billion rubles in the first half of 2018);
- The total volume of cash inflows amounted to RUB 114.5 billion;
- The total area of \u200b\u200bthe real estate put out for sale is 687 thousand square meters. m. This is 21.1% less than in the 1st half of 2018;
- Commissioning volume - 513 thousand sq. m., (against 286 thousand sq. m. in the 1st half of 2018).
- The developer has bought 2 O'Key sites. Two plots purchased by a previously known chain were transferred to the company of Sergei Gordeev. One of the sites is on Bolshaya Ochakovskaya Street. The location of the second is still not known for certain, but perhaps it will be a site in Dubrovsky passage. The area of \u200b\u200beach territory is 4 hectares.
Top news 2018:
by sharing the site with the former developer “Spartak Stadium”. The residential complex "Tushinsky Park" will appear here.Renovation participation
PIK Group of Companies takes an active part in the Moscow renovation program. Projects for planning quarters and houses have been developed. At the end of 2018 - beginning of 2019, it is known that 5 residential complexes of the company will go to meet the needs of the state program. This, and. They will have 764,000 sq.m., 80,000 sq.m., 100,000 sq.m. 30,000 sq.m. residential real estate for the needs of the state program, respectively, for the first 4 residential complexes and 236 apartments in.
The PIK group of companies is undoubtedly the leading player in the real estate market in Moscow and the Moscow region. How long its history will last and whether it will repeat the fate of the acclaimed SU-155, only time will tell. However, at the moment it is difficult to imagine that anything can prevent the company from building and being successful.
The construction bubble of Sergei Gordeev is in danger of bursting: the largest Moscow developer is stranded.
The largest Russian real estate development company looks to be facing hard times. According to insider information, law enforcement agencies show interest in the transactions of the main shareholder of PIK Group Sergey Gordeev, while parliamentarians demand an investigation of the company's activities. In addition, along with the enlargement of the developer, the dissatisfaction of the end customers grows.
Sergey Gordeev, president of the largest domestic construction company GK PIK, increased his stake in the company to 74.6% in October this year, having bought out shares in the companies of Alexander Mamut and Mikail Shishkhanov. The fact is that since the beginning of the year the company, according to official data, has sold housing for a record 120 billion rubles. But this figure should not be confused with profit. In accordance with the legislation updated this year, such funds can be spent only for construction purposes (the law thus protects equity holders). However, in the professional environment, the opinion was expressed that part of these funds, namely 47 billion rubles, Sergei Gordeev sent to buy back shares.
A legitimate question arises: if the money is spent, what funds will PIK use to complete the construction of houses, where people have already bought apartments? More recently, another monstrous building structure, the SU-155, fell into a similar trap. Its bankruptcy left several tens of thousands of defrauded equity holders in the Moscow region alone.
Now, as expected, the investigative authorities will want to check the legality of spending the funds of equity holders. By the way, this will not be their first visit to PIK. In May this year, the Investigative Committee already conducted searches in the company's offices in connection with the case of damage to the Dynamo sports community.
PIK problems can become a headache not only for the company's clients, equity investors or residents of already built houses, but also a test for the credit sector. At the end of June, PIK Group sold a package of its own global depositary receipts (GDR), corresponding to a 7.6% stake in the company, to VTB Bank for 15 billion rubles. If the abuse of the builders is revealed, then, according to media reports, VTB, already in need of state aid, risks becoming the owner of another "toxic" asset. It is noteworthy that Promsvyazbank at about the time when VTB was buying PIK securities, on the contrary, hastened to get rid of all the shares of the “rapidly growing” developer.
PIK shares were trading uncertainly in the summer (the group entered an IPO back in 2007), and in the fall they were seriously shaken when it became known that the group lost 2.5 billion rubles. Until November, international rating agencies assessed PIK “negative”, and now they have changed their assessment to “stable”. Despite a slight increase in the rating, PIK's financial life is rather a stable concern. According to RBC, the group's board of directors decided not to pay dividends for 2016, but to allocate part of the net profit received at the end of last year (more than 550.294 million rubles) to the formation of the reserve fund of PIK Group of Companies, while the remaining part (more than 10.456 billion rubles) did not distribute.
In case of non-payment, the bank takes the property. And in this case, no one will give loans to PIK in the future, and the company can be closed, "Alexander Spiridonov, head of regional development projects of the capital construction construction company, told LIFE.RU. Recall that in their appeal to the FAS, the PIK management complained that the city authorities did not want to conclude a contract at the agreed price - 80 thousand rubles. for 1 sq. m, but insisted on a discount of 12-17%. The Antimonopoly Service said that the other day PIK sent to the Moscow government an official offer to sell housing at a lower price than stated in the lot documentation. However, the company itself assures that there is no talk of signing an agreement with the authorities now. “We are ready to continue negotiations, but we do not rule out the listing of apartments for sale,” the press service of the company said.
Gk peak bankruptcy: life after bankruptcy
Analysis of financial results Table 8 - Analysis of financial results of PIK Group of Companies PJSC Figure 14 - Dynamics of the gross financial result and financial result from sales of PIK Group of Companies PJSC for 2014-2016. Figure 15 - Dynamics of gross financial result and financial result from sales of PIK Group of Companies PJSC for 2014-2016
Section 8. Analysis of business activity of the company Table 9 - Analysis of business activity of PJSC PIK Group of Companies Section 9. Analysis of the profitability of the company Table 10 - Analysis of profitability indicators of PIK Group of Companies PIK Table 11 - Analysis of return on equity according to the DuPont model Section 10 ...
Analysis of the satisfactory structure of the balance sheet Table 12 - Assessment of the state of the current solvency of PJSC "Group of Companies PIK" Table 13 - Assessment of the satisfactory structure of the balance sheet of PJSC "Group of Companies PIK" Section 11.
Gk peak reviews
Telegram channel "Mediatekhnolog" in connection with the situation in Putilkovo noted that all projects of the construction company have problems with infrastructure. Residents of the newly built neighborhoods in their chat rooms and groups express their fears: what will happen if PIK declares itself bankrupt and leaves behind a dozen unfinished ghettos without clinics, schools and parking lots? There are also problems in other cities near Moscow.
In Odintsovo, the inspection in July 2017 found a large amount of garbage on the territory of the former military town No. 315 (RC “Odintsovo-1”). A similar thing was recorded in April 2016. The high-rise buildings of the PIK Group of Companies hang over Odintsovo-1 In Moscow, too, not everything is in order.
So, in the Dmitrovsky district, PIK acquired from the military department a plot of 1432 m² on Lobnenskaya street. Now the Veteran Park and the former military hospital are under threat of demolition.
Attention!
Residents write petitions calling for rescue from destruction of 1,432 m² of living trees on which woodpeckers and nightingales nest. The unique place where chaffinches and hares live will soon be destroyed.
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Housing Policy ”From time to time, scandals with new settlers and equity holders at construction sites grow from a problem of builders and public utilities into a social phenomenon of the city or even regional level that is unpleasant for the authorities. Capable of creating a noticeable information background, influencing the political agenda or even the election results.
The activities of the PIK Group, which periodically create hotbeds of discontent almost throughout the country, and especially in the Moscow region, did not go unnoticed in the political expert community.
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Bankruptcy risk gk peak
Info
Biver Table 22 - Assessment of the financial condition of PJSC PIK Group of Companies using the Biver model Table 23 - Systematization of the results of assessing the probability of bankruptcy using foreign models Section 12. Analysis of the probability of bankruptcy using domestic models Table 24 - Assessment of the probability of bankruptcy of PJSC Group of Companies PIK "With the help of the Russian (Irkutsk) R-model. Table 25 - Assessment of the probability of bankruptcy of PIK Group of Companies PJSC using the OP's model.
Zaitseva Table 26 - Assessment of the bankruptcy probability of PIK Group of Companies using the model of R.S. Sayfullin and G.G. Kadykov Table 27 - Grouping of indicators - criteria for assessing the financial condition according to the method of L.V.
Attention
Dontsova and N.A. Nikiforova Table 28 - Assessment of the financial condition of PIK Group of Companies PJSC using the model of L.V. Dontsova and N.A. Nikiforova Table 29 - Model G.V.
Vertical analysis of the balance sheet Table 3 - Vertical analysis of the balance sheet of PIK Group of Companies PJSC Figure 3 - The structure of assets of PIK Group of Companies for 2014-2016 (%) Figure 4 - Structure of sources of property of PIK Group of Companies for 2014-2016 (%) Section 4. Analysis of balance sheet liquidity Table 4 - Analysis of balance sheet liquidity of PIK Group of Companies PJSC Figure 5 - Ratio of the most liquid assets and the most urgent liabilities of PIK Group of Companies for 2014-2016.
Figure 6 - Ratio of quickly sold assets and short-term liabilities of PIK Group of Companies for 2014-2016. Figure 7 - The ratio of slowly sold assets and long-term liabilities of PIK Group of Companies for 2014-2016
Figure 8 - The ratio of hard-to-sell assets and permanent liabilities of PIK Group of Companies PJSC for 2014-2016. Section 5.
Recently, the management of PIK filed a complaint with the Federal Antimonopoly Service against the Moscow government for refusing to comply with the terms of the tender, but today it became known that the complaint was withdrawn by a group of companies. For this tender, Yuri Luzhkov's department allocates funds in the amount of $ 1 billion.
to help the company. The administration of the capital was supposed to buy more than 300 thousand square meters for this amount. m of housing in the suburbs. Now the deal with the government was in jeopardy, and PIK Group of Companies is on the verge of bankruptcy.
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PIK needs this money now more than ever. Banks are collapsing, loans are not issued, and this situation is hitting the construction business very hard. There is nothing to pay - nothing to buy. By the end of this year, PIK Group of Companies must pay about $ 860 million.
If the government does not agree to buy the property, the company will close. The bank issues a loan secured by property or shares in the amount that it issued.
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