Three vice presidents are leaving the development group at once. The peak has cracked Participation in renovation

Sergei Gordeev's construction bubble is at risk of bursting

The largest Russian development company seems to be facing difficult times. To transactions of the main shareholder of PIK Group Sergei Gordeev According to insider information, law enforcement agencies are showing interest, and parliamentarians are demanding an investigation into the company’s activities. In addition, along with the consolidation of the developer, the dissatisfaction of end clients also grows.

Shareholder history

Sergey Gordeev, president of the largest domestic construction company PIK Group, in October of this year increased his stake in the company to 74.6% by purchasing shares of the companies Alexandra Mamuta And Mikaila Shishkhanova. 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 only be spent on construction purposes (the law thus protects shareholders). However, in the professional community, there was an opinion that Sergei Gordeev used part of these funds, namely 47 billion rubles, 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 fell into a similar trap - SU-155. Its bankruptcy left several tens of thousands of defrauded equity holders in the Moscow region alone.

Now, as expected, the investigative authorities will also want to check the legality of spending funds from shareholders. By the way, this will not be their first visit to PIK. In May of this year, the Investigative Committee already conducted searches at the company’s offices in connection with damages. sports society "Dynamo" .

PIK problems can become a headache not only for the company’s clients, share 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 abuses of builders are revealed, then VTB, which, according to media reports, is already in need of government assistance, risks finding itself the owner of another “toxic” asset. It is noteworthy that Promsvyazbank, around the time when VTB was buying PIK securities, on the contrary, hastened to get rid of all shares of the “fast growing” developer.

Meanwhile, in Mytishchi administrative cases have been initiated against PIK structures for non-compliance with energy efficiency requirements. Mytishchi's problems associated with PIK are not new. Back in 2014, it turned out that in this city PIK was building 133 thousand square meters of housing without permission - RIA Novosti reported this. Earlier, in 2007, in Mytishchi near Moscow, defrauded shareholders organized a tent city, demanding that the authorities punish the PIK-Region enterprise. Now PIK is implementing a project for the integrated development of two microdistricts (15 and 16). The municipal contract for this project ends in 2025.

Residents of the Putilkovo microdistrict even call PIK a “scam company.” According to them, for each square meter purchased, they took 37 thousand “for infrastructure development.” Roads had to be laid, parking lots, schools, kindergartens and clinics built. As a result, citizens even achieved the construction of a police stronghold with difficulty, and they fought crime under their windows on their own. “From each apartment, from 1 to 3 million goes nowhere,” the townspeople complain. The construction of a number of facilities, including sports facilities, has been frozen. At the moment, there is a waiting list of several hundred families for the two built kindergartens (four were promised). There is only one exit road in the microdistrict (they promised three), so not only are you guaranteed to be late for work, but also there are traffic jams for ambulances and fire trucks.

In July of this year in Khimki, in a new building “from PIK”, a fire hydrant suddenly popped in, causing apartment hallways on many floors to be flooded.

Utility workers from PIK and Podolsk inherited this. There, the debt to the supplier SEZ for the resources received exceeded seven million rubles.

Meanwhile, the landfill swallowed up a village near Naro-Fominsk. The Moscow Region Today publication writes that it was not possible to obtain cleaning from PIK-Comfort, which is the founder of the “garbage collection” company. As a result of long disputes, another company was involved in the case.

Housing policy

From time to time, scandals with new residents and shareholders at construction sites grow from a problem of builders and utility workers into a social phenomenon at 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 election results.

The activities of the PIK Group of Companies, which periodically create pockets of discontent almost throughout the country, and especially in the Moscow region, have not gone unnoticed in the political expert community. Thus, according to political scientist Alexander Markin, a company that is capable of causing a fairly wide social protest will find it difficult to overcome the temptation to use such a resource to achieve economic or political goals. “It would be quite reasonable to assume that the social explosion, which we are already seeing at the giant developer’s sites in the Moscow region, can be used as a resource to, for example, try to remove the governor of the Moscow region, in the hope of seeing in his chair a figure more loyal to the construction business. Freezing infrastructure construction is easy and almost safe. Ultimately, the developer will not suffer if he is forced to deliver as promised. But officials at various levels, in the wake of “popular anger” and subsequent organizational conclusions at the federal level, risk losing their posts,” he expresses his judgment. And he shares his concern: “A carelessly fanned fire could affect not only the district or regional leadership, but also the regional voting results in the presidential election, which probably no one in their right mind wants. By the way, these considerations can also explain the supposed attention to the structure on the part of law enforcement agencies.”

GC “PIK” in Moscow it’s like Putin in Russia. You can talk a lot and bad about it, but it will still always move forward and remain the No. 1 developer in the eyes of potential buyers. If only because it almost always delivers its residential complexes on time. Well, because every highway in the region is covered with its advertising.

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 they portray it to be?

In this article, we will consider a brief history of the company, the figure of its main owner - Sergei Gordeev, the pros and cons of the corporation and the landmark new buildings of the PIK Group. Go!

PIK Group: main facts

PIK Group of Companies was not founded by Sergei Gorodeev, as many people mistakenly believe today. It was founded by Yuri Zhukov and Kirill Pisarev in the now distant 1994.

BY THE WAY!

PIK is an abbreviation, and it means nothing more than “First Mortgage Company”. True, users on the network seem to have forgotten about this a long time ago and are making fun of “PIK” as much as they can. I quote: “Calling this company “PIK”, I believe, is incorrect. It simply must be called “PUK”.

PIK Group of Companies is a public company, 17.8% of the shares are in free float, 74.6% belong to Sergei Gordeev, 7.6% belong to 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 remember any amazing facts from this period. Really vigorous 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 one in the “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 could produce even more: 500,000 m².

Thanks to the resulting capacities, the company became one of the largest manufacturers of “panels”, which is what it is famous for to this day.

PIK Group in 2006

Since 2006, “PIK” has begun “expansion” (almost the same as that organized by Christopher Columbus when he discovered America) into the regions. Boxes of various series, but of the same style, are beginning 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 as unexpectedly and hard as it hit all other organizations. The volume of housing under construction has decreased by almost 2 times compared to 2007. But help came from an unexpected place: the Russian government included the company in the list of systemically important 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 company's founders in favor of Suleiman Kerimov. They gave away 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 property of Yuri Zhukov, the founder, was arrested by decision of the Meshchansky Court, since it acted as collateral for 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. This difficult decision was made based on the results of a general vote of shareholders.

In subsequent years, 2011-2012, the company was engaged in restoring construction volumes and strengthening economic sustainability.

Hello, Sergey!

Efficiency, new sites, increased construction and sales volumes - 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 the Morton company of Alexander Ruchev with almost all existing projects and problems and becomes the main player in the field of “standard-class” housing, as they like to say now, and also occupies the 90th place of the richest businessmen in Russia in the Forbes list. In April 2018 it rises almost 40 lines higher - to 57th place.

And already in 2017, the company came out on top in various ratings of Russian developers, thanks not only to construction volumes, but also to the active, and I would even say aggressive, advertising activities of the company.

Post by PIK Group on Ilya Varlamov’s blog

It is worth noting that the online promotion of new buildings from “PIK” is becoming very targeted: “Yandex.Direct”, Google Adwords, “Cyan”, Ilya Varlamov’s blog.

But not a single (not a single!) major transport artery in 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 of happiness costs? Let's reveal a secret: rent of 1 panel in Moscow and the region varies within 31,000 – 465,000 rub./month depending on location.

But let's get back to history. In the summer of 2017, Mr. Gordeev (for some reason I can’t call him anything else) buys 16% from Alexander Mamut, and 9.8% of PIK shares from Mikail Shishkhanov. And already in October it receives its “cherry on the cake” - 24.6% of the shares of minotaries. Thus, by 2018, a simple shareholder becomes the holder of a controlling stake, having consolidated 74.6% of the shares in his hands.

Unbelievable but true

But, no matter how surprising it may be, it seems that this is only good for the company. At the end of January 2018, the Moscow City Hall published the TOP developers for housing commissioning for 2017, where PIK Group of Companies (oh my God, how amazing!) took 1st place.

Sergei Gordeev prefers to sacrifice his trading assets in the name of residential construction. On March 26, 2018, it became known that he was ready to sell 2 objects: the Riviera shopping center and the Salaris shopping center (by the way, the Salaryevo Park residential complex under construction is owned by the same PIK group of companies) to the Kyrgyz company KLS Securities. The deal has not yet been concluded, but experts have already expressed their forecasts regarding the possible cost. The deal could bring the president of PIK Group 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 movie A home for everyone: How it's done | PIK Group,” his comments did not take more than a few minutes.

Employees

The PIK company employed 14,263 people as of April 2018. And hardly any of them can be called media. They, to match the president, are displayed mainly only on the group’s official website, in the “Management” section.

Currently, the Board of Directors consists of 9 people, another 14 represent the Management Board. Surprisingly, even in their own film about industrial construction, few of them took part. Or rather, only, in fact, Mr. Gordeev and Alexey Almazov, vice president for design.

Key employees of PIK Group

Governing body Board of DirectorsOther key personnel

• Sergey Gordeev- President and chairman of the board;
• Alexander Prygunkov – 1st Vice President and Chief Operating Officer;
• Denis Ivakin- VVice President and Director of the Design Department;
• Alexander Titov- VVice President for Economics and Finance;
• Gennady Rosso- VVice President and Director of Sales Department;
• Stanislav Kondratiev- VVice President and Director of Product Department;
• Natalia Semikova- VVice President for Initial Permits and Land and Property Relations;
• Alexey Almazov- VVice President of Engineering;
• Vyacheslav Borisenkov- VVice President for General Affairs;
• Alexey Kozlov- VVice President and Director of the Moscow Region Directorate;
• Ivan Polandov- VVice President and Director of the Moscow Directorate;
• Elbrus Gobeev- GGeneral Director of JSC PIK-Industry;
• Ilya Tikhomirov– dDirector of the Information Technology Department;
• Alexey Zolotarev- VVice President for Land Asset Development.

• Marina Zinovina- PChairman of the Board of Directors;
• Alexander Varennya –
• Sergey Vorobiev – 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.

• Yesatia Badri– Chief Architect of PIK Group of Companies;
• Natalya Dubrovskaya– Chief Architect of the Design Department;
• Pavel Turkov– head of territorial administration.

If you are one of those people who are wondering: who developed this “chic” design of Pikovsky houses - and dream of looking the chief architect of “PIK” in the eyes, I hasten to disappoint you: Esatiya Badri, who holds this post, also does not appear in the film . Therefore, we can only admire his architectural solutions.

Office

The central office of PIK Group of Companies is located in Moscow, on the street. Barrikadnaya, 19 building 1, near the metro station. Barricaded. It works 12 hours: from 9 to 9 (or rather, until 21:00) and, in general, is not particularly remarkable. Except for the fact that on May 18, 2017, the investigative committee conducted high-profile searches here during the investigation of a criminal case about causing damage to the Dynamo sports society (one of the counterparties of the PIK Group of Companies).

Oratory lessons from PIK Group of Companies

Participation in renovation

“PIK” is one of the developers participating in the Moscow renovation program. Space in the following residential complexes will be allocated to the needs of the state:

• (100,000 sq.m. will go to the program);
• (80,000 sq.m.);

PIK Group: reviews

There are very different reviews about PIK Group 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, no matter what the times are outside the window, your house will be built. Yes, it is possible that the delivery deadline will be missed, but it will definitely not turn into a long-term construction project that no one needs. There is quite significant evidence for this:

1. The company has 2 of its own factories for reinforced concrete products. Former DSK No. 2 and No. 3 turned into the Ochakovsky concrete goods plant and the Vostryakovsky concrete goods plant. And their “union” is now known throughout the country as “PIK-Industry”.
2. 99% of new buildings from PIK Group are very affordable, which means they sell well and quickly, replenishing the company’s coffers.

The second significant advantage of the company is the construction of new buildings with finishing. In almost every new building you can find apartments with this option, which means that after receiving the keys you can safely move into the housing you received.

I have already indirectly voiced another significant advantage above - availability. Most of the new buildings from “PIK” are well-known panels, although slightly improved. Due to the ease of production of the panels and their versatility, one floor of a 9-apartment section can be built in 2 days. This is what determines the pleasing prices of new buildings at PIK.

Minuses

Everyone who has ever looked at the new buildings of the PIK Group of Companies has seen: their houses have NO individuality. The same type of panel boxes of regular geometric shapes and bright colors - that’s what these houses are like. Can you, dear reader, distinguish the residential complex “Buninskie Meadows” from, for example, the residential complex “Izmailovsky Forest”?

Okay, okay, I agree, the task is too difficult. Then one more try. Let's compare yards LCD “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 discussed, concerns the violation of the rights of shareholders of Morton, a company that PIK absorbed in 2016.

Perhaps the most striking example is the story of the “Peter I” residential complex in the Lefortovo district, 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” this move by the developer, instead of the promised 6 buildings, 14 will now appear here.

Those. people who preferred the “Peter I” residential complex over, for example, the “Symbol” residential complex because the first one promised to be more intimate, with fewer buildings, ended up losing the advantage that made them make their choice .

The third disadvantage is delays in delivery deadlines. Despite the fact that PIK does not have a single long-term construction project, the developer does not always adhere to delivery deadlines. At the same time, it is quite difficult to restore the initial delivery dates, because the company deletes all project declarations from the website, as soon as the housing is put into operation. But we can say for sure: there were delays in delivery deadlines in the Meshchersky Les residential complex, the Peter I residential complex, and the Mosfilmovskaya residential complex.

The fourth disadvantage is non-compliance with safety regulations at construction sites. It’s no secret that the company’s workers have suffered more than once during the construction of complexes. In May 2017, a construction crane collapsed in the Lyuberetsky residential complex, and in September of the same year - in the Novokurkino residential complex. If safety precautions are violated, are other standards met? This is the question potential buyers are asking.

Bankruptcy?

The bankruptcy of PIK Group of Companies is one of the most favorite topics of all representatives of the real estate market. “PIK” didn’t deliver the complex on time? Bankruptcy is coming! The company's profit fell 6 times in 2017? Go bankrupt! Has PIK postponed the placement of bonds? Bankrupt!! And it doesn’t matter at all that new large-scale projects are being prepared for launch on 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 is worth noting that the company was once on the verge of insolvency. One of the subsidiaries, PIK-Development, expected to sell apartments worth 5 billion rubles before 2009, which did not happen due to the crisis that hit the country. Then 25% of the 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 is not in danger of bankruptcy; the company is confidently selling completed apartments and preparing new projects to enter the market, so only the author of a publication eager to get hype can call it bankrupt.

New buildings of the PIK Group of Companies

News

Main news of 2019:

• On January 22, 2019, the company announced its results for 2018. “PIK” put into operation 102 new buildings during the indicated period (compared to 99 in 2017), launched 13 new projects for sale (compared to 11 in 2017), the volume of real estate sales increased by 5.6% to 1,941 thousand. sq. m (compared to 1,839 thousand sq. m in 2017), and the volume of cash receipts increased by 20.4% to 245.0 billion rubles (compared to 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 “Metrium” calculations, is the largest developer in terms of the volume of housing sold in “old” Moscow.
• 03/20/2019 PIK Group announced that launches sale of 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 at PIK Group of Companies.
• On 04/01/2019 it became known that PIK Group and LSR Group may receive special conditions when switching to escrow accounts. The government has started talking about forming a pool of “systemically important enterprises,” Vedomosti writes. And the 2 companies mentioned above may be on this “white list”. The requirements for “systemically important enterprises” are as follows:
  • The company operates in at least 5 regions;
  • Builds over 1 million sq. m of housing;
  • Is public.

Only “PIK” and “LSR” meet these requirements. Apparently, these companies will be allowed to build according to the old rules if the home 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 announced financial results according to IFRS for 2018:
  • Total revenue – 245.8 billion rubles. (+40.4% compared to 2017);
  • Margin – 22.4%. (+6.2%);
  • EBITDA – 42.8 billion rubles. (+214.7%);
  • Net profit – 21.3 billion rubles;
  • 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. Sergei Gordeev’s company is ranked 41st in the ranking of the most expensive Russian brands. Brand Finance Russia 50 valued “PIK” at 22.220 billion rubles.
• VTB increases its stake in PIK Group to 23.05%. VTB Group is buying a 15.48% stake in the development company from Sergei Gordeev. Sergei Gordeev retains 59.15% of the shares, VTB Group has 23.05% of the shares.
• 07/08/2019 Fitch Ratings (rating agency) assigned PIK Group a credit rating of BB-. The forecast is stable.
• 07/10/2019. They are:
  • The volume of real estate sales increased by 15.1% to 101.2 billion rubles (versus 88.0 billion rubles in the first half of 2018);
  • The total volume of cash receipts amounted to 114.5 billion rubles;
  • The total area of ​​real estate put on 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. m., (versus 286 thousand sq. m. in the 1st half of 2018).

Main news of 2018:

• The net profit of PIK Group according to IFRS at the end of 2017 decreased by 6 times. If in 2016 it amounted to 19.1 billion rubles, then in 2017 it was only 3.2 billion rubles. At the same time, the company's revenue increased 3 times.
• The company's president, Sergei Gordeev, took 57th place on the Forbes list of the richest businessmen in Russia.
.
• Financial results for the first half of 2018 have appeared. Total revenue amounted to RUB 90.3 billion. (+139.7% compared to the 1st half of 2017), revenue from the sale of real estate – RUB 87.1 billion. (+ 146.6%), net profit – 0.3 billion rubles, net debt, however, also increased – to 15.4 billion rubles (+2.7%).
• According to Moskomstroyinvest, PIK owns 16.4% of the Moscow residential real estate market as of August 2018.
• In 2018, social tensions towards the company increased. This is due, first of all, to the fact that the PIK Group has engaged in so-called infill development and. For example, the loudest conflict was the clash between the developer and residents of the Kuntsevo district, where PIK was supposed to begin construction of a 26-story tower house as part of the neighborhood reconstruction program, but the locals were against it, and the company temporarily stopped construction. 11/22/2018 The Supreme Court of the Russian Federation confirmed the legality of the construction of a house on the street. Ivan Franko, 20.
• Sergey Gordeev sold the Riviera shopping center, with an area of ​​298,000 sq. m, fund from Kyrgyzstan.
• PIK Group took 1st place in terms of revenue in Moscow in 2018, according to the rating (organized by Urban Awards). It is estimated that the company earned 111 billion rubles, which is 17.7% of the entire capital market.
• On June 18, 2019, the Expert RA agency increased the credit rating of PIK Group of Companies. Now the developer's rating is at the ruA level. Previously, “PIK” according to “Expert RA” was at the ruA- level. The rating outlook is stable.

Participation in renovation

PIK Group of Companies takes an active part in the Moscow renovation program. Projects for planning blocks and houses have been developed. At the end of 2018 - beginning of 2019, it is known that 5 residential complexes of the company will be allocated to the needs of the state program. This is , 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 without a doubt a 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 sensational 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 prosperous.

Report of a material fact

"Reporting Insider Information"
1. General information
1.1. Full corporate name of the issuer (for a non-profit organization - name) Public joint stock company
"PIK Group of Companies"
1.2. Abbreviated corporate name of the issuer PJSC "PIK Group of Companies"
1.3. Location of the issuer Russian Federation, 123242, Moscow, st. Barrikadnaya, 19, building 1
1.4. OGRN of the issuer 1027739137084
1.5. Issuer INN 7713011336
1.6. Unique issuer code assigned by the registration authority 01556-A
1.7. Address of the Internet page used by the issuer to disclose information http://www..aspx?id=44
http://www.pik.ru

2. Contents of the message
“On certain decisions adopted by the issuer’s board of directors”
2.1. Quorum of the meeting of the issuer's Board of Directors: 6 out of 9 members of the Board of Directors took part in the meeting of the Board of Directors of PJSC PIK Group of Companies. In accordance with paragraph 2 of Article 32 of the Charter of PJSC “PIK Group of Companies”, there was a quorum for holding a meeting of the Board of Directors.
2.2. Voting results on decision-making issues:
According to clause 3 of Art. 32 of the Company's Charter, decisions on these issues are made by a majority vote of the voting members of the Board of Directors.
1. On the appointment of new members of the Management Board of PJSC “PIK Group of Companies”.

2. On amendments to the list of candidates to the control bodies of PJSC “PIK Group of Companies” for election at the Annual General Meeting of Shareholders of PJSC “PIK Group of Companies” in 2018.
Voting: For: 6, Against: none, Abstained: none.

2.3. Contents of decisions adopted by the Issuer's Board of Directors:
2.3.1. 1. To appoint the Vice-President - Director of the Moscow Directorate of PJSC PIK Group of Companies, Ivan Nikolaevich Polandov, as a member of the Management Board of PJSC PIK Group of Companies from March 13, 2018.
2. Appoint Alexey Alexandrovich Zolotarev, Vice President for Development of Land Assets of PJSC PIK Group of Companies, as a member of the Management Board of PJSC PIK Group of Companies from March 13, 2018.
3. To appoint Alexander Olegovich Lefel, Vice President for Regional Development of PJSC PIK Group of Companies, as a member of the Management Board of PJSC PIK Group of Companies from March 13, 2018.
4. In connection with the appointment of new members of the Management Board, the composition of the Management Board of PJSC “PIK Group of Companies” from March 13, 2018 consists of the following persons:
Board members:
1. Ivakin Denis Anatolyevich - Vice President - Director of the Design Department of PJSC "PIK Group of Companies";
2. Titov Alexander Valentinovich – Vice President for Economics and Finance – Financial Director of PJSC “PIK Group of Companies”;
3. Prygunkov Alexander Sergeevich – First Vice President - Operations Director of PJSC “PIK Group of Companies”;
4. Semikova Natalya Aleksandrovna – Vice-President for initial permitting documentation and land and property relations of PJSC “PIK Group of Companies”;
5. Almazov Alexey Andreasovich – Vice President for Design of PJSC “PIK Group of Companies”;
6. Stanislav Vladimirovich Kondratiev – Vice President – ​​Director of the Product Department of PJSC “PIK Group of Companies”;
7. Yakushechkin Maxim Evgenievich – Vice President – ​​Director of the Moscow Directorate of PJSC “PIK Group of Companies”;
8. Rosso Gennady Genrievich – Vice President – ​​Director of the Sales Department of PJSC “PIK Group of Companies”;
9. Alexey Alexandrovich Kozlov – Vice President – ​​Director of the Directorate for the Moscow Region of PJSC “PIK Group of Companies”;
10. Borisenkov Vyacheslav Aleksandrovich – Vice President for General Issues of PJSC “PIK Group of Companies”;
11. Gobeev Elbrus Kermenovich – General Director of PIK-Industry JSC;
12. Tikhomirov Ilya Vasilievich - Director of the Information Technology Department of PJSC “PIK Group of Companies”;
13. Polandov Ivan Nikolaevich - Vice President - Director of the Moscow Directorate of PJSC PIK Group of Companies;
14. Alexey Alexandrovich Zolotarev - Vice President for Development of Land Assets of PJSC PIK Group of Companies
15. Lefel Alexander Olegovich - Vice President for Regional Development of PJSC PIK Group of Companies.
2.3.2. 1. Remove candidate Elena Alekseevna Osipova from the list of candidates for voting at the Annual General Meeting of Shareholders of PJSC “PIK Group of Companies” in 2018 for elections to the Audit Commission of PJSC “PIK Group of Companies”.
2. Include candidate Elena Ivanovna Ermolaeva in the list of candidates for voting at the Annual General Meeting of Shareholders of PJSC “PIK Group of Companies” in 2018 for elections to the Audit Commission of PJSC “PIK Group of Companies”.
2.5. Date of the meeting of the issuer's board of directors, at which the relevant decisions were made: March 12, 2018.
2.6. Date of compilation and number of the minutes of the meeting of the board of directors of the issuer, at which the relevant decisions were made: Minutes No. 2 dated March 12, 2018.
3. Signature

3.1. Vice President for Economics and Finance - Chief Financial Officer
PJSC "PIK Group of Companies"
A.V.Titov
signature of I.O. Surname

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The functions of the chairman of the board are assigned to the president of PJSC PIK Group of Companies Sergei Eduardovich Gordeev,” it says.

The board also included: vice-president - director for industry and construction of the company Mikhail Tyasto, vice-president for economics and finance - financial director Alexander Titov, vice-president for planning and coordination of operating activities - director of the financial planning and analysis department Alexander Prygunkov, vice -President for Development of Land Assets Vladislav Sviblov, Vice President for Interaction with Government Authorities Natalya Semikova, Vice President for Design Alexey Almazov, Vice President - Department Director Stanislav Kondratyev, Vice President - Director of the Moscow Directorate Maxim Yakushechkin, Vice President President - Director of the Sales Department Gennady Rosso, Vice President - Director of the Moscow Region Directorate Alexey Kozlov, Vice President for Organizational Development and Technologization Boris Khapachev, Vice President for General Issues Vyacheslav Borisenkov.

The term of office of the new board begins on July 29, 2015 and ends on July 28, 2016, the message adds.

OJSC "Group of Companies "PIK" is one of the largest developers of residential real estate in the Russian Federation, operating in the market of Moscow, the Moscow region and eight other regions. According to the consolidated statements of the group, as of December 31, 2014, the company's assets amounted to 97 billion rubles, capital - 21 .3 billion rubles, revenue amounted to 61.3 billion rubles at the end of 2014. The developer’s net profit in 2014 according to IFRS amounted to 3.8 billion rubles.

Vice-presidents Valery Ropay, German Tsargasov and Artem Eyramdzhants are leaving the PIK Group. This is cost optimization: the company has 14 positions of vice presidents, and some of their functions can be performed by department heads. Since January, when ex-senator Sergei Gordeev and businessman Alexander Mamut became the group’s controlling shareholders, three more vice-presidents have left PIK.

Two sources familiar with the situation in the company told Kommersant about the upcoming personnel changes. Kommersant’s interlocutors note that the layoffs occurred as part of the optimization of the number of top managers, which is being carried out by the new shareholder. “There are 14 vice-president positions in PIK, not everyone has a clear area of ​​responsibility, and the position requires a good salary and a number of other expenses, such as a car,” says one of them.

The PIK press service confirmed that Artem Eyramdzhants was leaving, refusing to make any other comments. A source close to PIK says that the final dates for the dismissal of Valery Ropay and German Tsargasov are being agreed upon. Presumably German Tsargasov will leave in May, and Valery Ropay will work until the end of next month.

The group's president, Pavel Poselenov, and the vice-presidents overseeing the main activities of PIK remain. Andrei Rodionov (finance), Daromir Obukhanich (responsible for projects in the Moscow region), Alexander Selyukov (regional projects), Yuri Komissarenko (sales), Fedor Sapronov (legal issues) continue to work.

After a change of shareholder (in January of this year, PIK shares owned by Suleiman Kerimov’s Nafta Moscow (38%) were bought by former senator and commercial real estate developer Sergei Gordeev (19.9%) and businessman Alexander Mamut (16.02%)) from The group's vice-presidents Marina Savelyeva (dealt with general issues), Konstantin Kuznetsov (oversaw the industrial block, in particular the DSK-2, DSK-3 and PIK-Avtotrans plants, which were merged into PIK-Industry OJSC last fall) left ) and Tatyana Tikhonova, who was responsible for development in Moscow and relations with government authorities. Of these three vacated positions, two have been refilled so far: Mr. Kuznetsov was replaced by Mikhail Tyasto, and Marina Zinovina (who is on the board of directors from Sergei Gordeev) was also hired.

Market participants have been expecting major personnel changes at PIK since January. “For now, everything remains as it is, but I hear from recruiters that they are looking for candidates for top positions at PIK,” the head of one of the development companies told Kommersant.

The current personnel changes will not have a significant impact on the company’s operating activities, says Sberbank-CIB analyst Yulia Gordeeva. “The responsibilities of outgoing vice presidents can be transferred to department directors, this will help reduce costs. The main thing is that those who are responsible for key areas remain - finance and development,” she explains.

Currently, the PIK group employs 11 thousand people (including production employees). The company's personnel costs last year amounted to 8.4 billion rubles, of which 6.5 billion rubles. went to salaries. In 2012, expenses for this item amounted to 7.8 billion rubles, in 2011 - 5.4 billion rubles.

PIK is one of the largest Russian developers. Among the shareholders is co-owner of the BIN group Mikail Shishkhanov (14.9%). VTB Bank withdrew from the company's capital, but it now owns 18.42% through repo transactions, and according to the same scheme, 42.12% of PIK belongs to the Central Bank (whose shares are pledged is unknown). The company insists that the shareholders have not changed since January 2014.

Ekaterina Gerashchenko