Mazaya Real Estate Development Q.P.S.C. (MRDS) Earnings Call Transcript

Good afternoon, everyone. [Foreign Language] If you have any question about the project, I am here. [Foreign Language]

[Foreign Language] We missed the balance sheet. I'm going to go through also the financial in English, okay? As for the statement of profit and loss for the period ended September 30, 2026. We have achieved a net profit of QAR 45 million considered to QAR 48.3 million last year, whereas we have a gross operating income of '26 in the amount of QAR 117 million compared to QAR 103 million last year, with an increase of QAR 14 million or 14% mainly due to the recognition of the income from sale of completed properties, properties for sale projects that has achieved a profit amount of QAR 22.5 million this year. And this is for the first time that Mazaya has such an income from completed projects, okay. And on the other hand, when we compare for QAR 45 billion last year, it shows basically there is a variance, negative variance, but in fact, not because last year, we had a one-off income from Sino Hydro is amount was refunded by the port an amount of QAR 18.5 million. That was the reason we had QAR 48 million last year. So in our normalized cases, we exclude that the one of operational -- nonoperational income, okay. The total comprehensive income actually would be increased on the last year by 51% that to actually reflect the group's strong underlying earnings and growth and the improvement performance this year compared to last year. So it's a positive sign. As for the balance sheet, the balance sheet, you're going to see the -- there's a difference of QAR 207 million, okay, between the asset -- total assets this year compared to last year. A decrease of QAR 207 million. And also like on the liabilities, total equitability, you'll see the same number, mainly the differences due to the divestment of one of our projects as Gold Plaza, which was sold early this year due to the lower income actually coming from the property. And subsequently, the borrowing that was related also to this property also has reduced. So that reflects the difference also on the liabilities side. As for the retained earnings, we have an increase of QAR 45 million mainly actually due to the profit that was achieved this year. So we have the QAR 45 million profit reflected in the retained earnings. So we have now a positive amount of QAR 23 million in the returned earnings. So this is just a brief on the financial statements for the third quarter of '26. And if you have any questions, please go ahead.

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