MOSCOW, April 16, 2014 - PIK Group (LSE: PIK) released today its trading update for the three months ended March 31, 2015 (1Q2015). The operational and financial data are based on management assessment only and have not been reviewed by external auditors.

1Q2015 key operational highlights:

• Total cash collections decreased by 5.2% to RUB 15.3 billion (1Q2014: RUB16.1 billion) primarily driven by lower cash collections from construction services provided to third parties.
• Cash collections from sale of real estate to individuals was generally unchanged at RUB 13.3 billion (1Q2014: RUB 13.5 billion), whilst being materially affected by cash collections from record sales in 4Q2014.
• Cash collections from construction services and others decreased by 25.3% to RUB 1.9 billion (1Q2014: RUB 2.5 billion)
• New sales contracts to customers decreased by 19.7% to 110 th. sqm.
  (1Q2014: 137 th. sq. meters). Homebuyers’ activity in 1Q2015 was affected by a cooling-off period after a rush demand of 4Q2014 and higher mortgage interest rates.
   
• In 1Q2015, PIK launched 6 new projects compared to 11 new projects in 1Q2014. New sellable area in the buildings put on sale decreased by 28.1% to 82 th. sq. meters (1Q2014: 114 th. sq. meters).
   
• Share of mortgage backed sales reached 25.3% in 1Q2015 compared to 32.54% in 4Q2014 primarily due to increase in mortgage interest rates.