Legenda Intelligent Development (Legend Smart)

Legenda Intelligent Development is a developer working in the St. Petersburg market.

Performance indicators

2023: Revenue growth doubled to RUB 15.1 billion

The Legenda Intelligent Development construction group in 2023 raised 15.1 billion rubles, which is twice as much as revenue a year ago. The net profit of the holding increased even more - four times - and reached 0.8 billion rubles. Such data in accordance with international financial reporting standards were released in April 2024.

According to Interfax, citing the developer's press service, the company's EBITDA at the end of 2023 amounted to 4.25 billion rubles, which is 82% more than a year ago, the EBITDA margin remained at 28%. The group's operating profit in 2023 reached 4.041 billion rubles (an increase of 90% compared to 2022), gross profit - 6.323 billion rubles (an increase of 68%).

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Legenda's net debt as of December 31, 2023 reached 6.32 billion rubles, rising 23% due to the growth of corporate debt.

Legenda entered the top ten developers in terms of revenue from the sale of housing in St. Petersburg with a share of 3.2% at the end of 2023 against 0.9% a year earlier. The group's share in the segment of expensive housing (from 20 million rubles) remained at the level of 14%.

The volume of funds accumulated on escrow accounts by the end of 2023 reached 31 billion rubles, which is 2.3 times higher than in 2022. The average price of housing throughout the portfolio in 2023 remained at the level of the previous year and amounted to 319 thousand rubles per square meter. The average price of commercial real estate in projects increased by 21%, 333 thousand rubles per square meter.

Legenda also said that in 2023 the share of mortgage transactions for the purchase of housing increased to 85% (+ 8 percentage points by 2022).

By the end of 2023, the developer's targeted program amounted to more than 1 million sq.m. in construction and design. The total area of ​ ​ social facilities under construction increased 1.25 times year-on-year and amounted to 40 thousand square meters. m.^[1]

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