ETALON GROUP PLC (“Etalon Group” or the “Company”), one of Russia’s largest development and construction companies, announces the results of its asset valuation as of 31 December 2024, conducted by Nikoliers.
Despite a 28% increase in sales in 2024 to a record 699 ths sqm, the total value of Etalon Group’s assets rose to RUB 305 billion (versus RUB 303 billion as of 31 December 2023). The asset value per global depositary receipt (GDR) reached RUB 795.
The total NSA of Etalon Group’s project portfolio amounted to 5.5 mln sqm. According to Nikoliers, the market value of the Company’s real estate assets across 27 ongoing projects, 25 completed residential and commercial properties, and land plots is RUB 284 billion.
In terms of segments, the market value of the Company’s premium projects doubled. As of the end of 2024, the premium segment accounted for about 4% of the NSA of current projects in Moscow and St Petersburg. The Company intends to make this segment a larger part of its portfolio in line with its plans to develop a new premium brand.
The asset valuation also included Etalon Group’s construction and maintenance division, which has its own general contractors and subcontractors, a service business, as well as IT companies and production facilities. The market value of the construction and maintenance division amounted to RUB 20.7 billion.
The further transition of land plots from the design stage to sales, alongside planned acquisitions in 2025 through integrated investment and development projects, will support high sales rates while maintaining financial stability.
This and other recent announcements are available on the Etalon Group website:
https://www.etalongroup.com/en/news/.
IR Team
About Etalon Group
Founded in 1987, today Etalon Group is one of the leading nationwide players in Russia’s development and housing construction sector. The Company develops real estate projects for the middle class in Moscow, the Moscow region and St Petersburg. The Company has been actively developing in eight regions across Russia since 2021, with large-scale projects under way in Omsk, the Novosibirsk region, Ekaterinburg, Tyumen and Kazan. With 38 years of successful operations and ongoing regional expansion, the Company remains one of the largest players in the Russian real estate market. Since its foundation, Etalon Group has delivered 9.2 mln sqm of real estate.
Thanks to its integrated business model, Etalon Group creates added value for customers and shareholders at every stage of development, from land plot analysis and acquisition to the operation and maintenance of existing properties. Etalon Group employs more than 6,000 people.
Etalon Group’s total assets comprise 27 projects under development, unsold inventory at completed residential complexes and commercial properties, with total unsold NSA of 5.5 million sqm, as well as a construction and maintenance division. According to Nikoliers, the value of Etalon Group assets as of 31 December 2024 was RUB 305 billion.
In 2025, Etalon Group’s new contract sales totalled 671 ths sqm, or RUB 153.5 billion.
The Company’s revenue in 2024 amounted to RUB 131 billion, with EBITDA of RUB 27.6 billion.
Etalon Group shares are traded on the Moscow Exchange (ticker ETLN) and have been included in the Level 2 quotation list since September 2025.