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LSR Group entitled to redevelop ZIL grounds in Moscow

CJSC LSR.Real Estate-M (a company of the LSR Group) won the tender for the right to acquire a 100% stake in Promobject LLC and has secured the right to redevelop the land plots of Moscow-based ZIL with a total area of 65 ha, the company informed.

The project assumes the construction of 584,000 square meters of housing, 365,000 square meters of apartments (meaning commercial real estate intended for temporary accommodation only), 167,000 square meters of office premises, 98,000 square meters of retail facilities, along with 342,000 square meters of underground parking facilities.

The company intends to complete the territory development before December 31, 2022.

OJSC LSR Group (tax number: 7838360491) founded in 1993 produces building and construction materials, implements real estate development and construction projects. The group comprises manufacturers of ceramic bricks, foamed concrete, nonmetallic building materials, ready-mix concrete, concrete products and large panel residential construction companies.

The principal shareholder of the company is Andrei Molchanov (72.9% of the authorized capital). Huiki Holding owns 9.09% of the Group's shares while the company's management possesses 4.82% of the shares. 11.36% of the shares are in free float.

According to the DataCapital information retrieval system, IFRS net profit of OJSC LSR Group for H1 2013 went up 3.7 times to RUB 945 million from RUB 259 million the year before. Revenue increased by 21% to RUB 27.508 billion, EBITDA by 13% to RUB 5.28 billion, EBITDA margin was 19%.

"AK&M", 23.04.2014 12:39


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