18 Oct 2018 10:48

LSR Group ups sales 46% in 9M

ST. PETERSBURG. Oct 18 (Interfax) - Russian property developer LSR Group sold 620,000 square meters of real estate (new contract sales) in January-September 2018, 46% more than in the same period last year, the company said in a press release.

LSR concluded new contract sales totaling 262,000 square meters in Q3 2018, 57% more than in the same period last year, for a total of 26 billion rubles, 63% more.

Sales in H1 2018 totaled 34 billion rubles. In other words, overall sales in the nine months amounted to about 60 billion rubles, up 43% from 42 billion rubles in 9M 2017.

Founded in 1993, LSR Group has two divisions: development and building materials, and construction services. The group manages companies that produce and process non-metallic minerals, produce and transport construction materials, and construct buildings, ranging from large mass housing to elite homes. LSR Group's main business is concentrated in St. Petersburg and the Leningrad Region, Moscow and the Moscow Region, Yekaterinburg and the Urals. Its main owner is ex-senator Andrei Molchanov.