The analysts of the leading investment banks gave a positive overview on the PIK’s annual financial results for 2012. URALSIB mentioned that “PIK results are significantly upper the expectations”, the Sberbank report says that “PIK presented a very good results and the conference call was very optimistic”. VTB Capital also mentions that PIK “announces strong 2012 IFRS results - EBITDA 16% ahead of our expectations and 36% ahead of the consensus” and “the company remains our top pick in the real estate universe”.