Today, the publication has updated its rating, estimating 242 thousand hectares belonging to the Concern at 36.3 billion rubles. At the same time, it is noted that the demand for land exceeds supply, which implies a possible increase in the value of the asset.
The highest cost of land in the Russian Federation was recorded in the Krasnodar Territory, where it is estimated at 176.6 thousand per hectare at the cadastral value. However, in reality, the real value of an asset is highly dependent on logistics, land surveying, soil conditions, weather conditions.
Still, the land cannot be torn away from other assets that are located on it. Therefore, I estimate the real value of the Concern’s assets 2 – 2.5 times higher, taking into account the synergy of objects from vertical integration
20 largest landowners in Russia – 2021. Forbes rating
Pokrovsky Concern bonds are included in PRObonds portfolios for 6.5% – 7% of assets