Real estate developer IMPACT reports 89 percent revenue growth in first quarter

IMPACT Developer & Contractor achieved revenues of 41 million RON at group level in the first quarter of 2024, up 89 percent compared to the same period last year. The gross profit recorded is 13.5 million RON, with a gross margin of 33 percent.

In the first three months of the year, IMPACT sold 26 units, worth 24 million RON, 21 percent more compared to the first quarter of 2023. The 26 sale-purchase contracts were signed for dwellings in LUXURIA Residence and BOREAL Plus, which registered an increase in sales compared to the same period last year. Thus, 89 percent of the dwellings in LUXURIA Residence were contracted on March 31, and in BOREAL Plus the contracting rate was 78 percent for houses and 40 percent for apartments.

As of March 31, 2024, IMPACT had 365 reserved and pre-sold units, with a total value of 208 million RON. Of these, 344 units will be transformed into sales during the year and will generate revenues of 198 million RON, 86 percent of them being in the GREENFIELD Baneasa compound.

The market value of IMPACT Group’s equity as of March 31, 2024 was RON 1.3 billion, and the market value of total assets was RON 1.8 billion.

IMPACT owns a land portfolio of 86 ha, part of which can be used for the development of 10,000 homes within 5 distinct projects: GREENFIELD Baneasa (new phases), BOREAL Plus (new phases), GREENFIELD Copou Residence, ARIA Verdi and GREENFIELD West.

As of March 31, 2024, IMPACT had a construction permit for 2,693 units in Bucharest, Iasi and Constanta, with an estimated market value of 1.9 billion RON. Of these, 732 will be delivered in GREENFIELD Baneasa in the second half of the year.