Mazaya Real Estate Development Q.P.S.C. (MRDS) Earnings Call Transcript
October 21, 2021
Earnings Call Speaker Segments
Good evening, ladies and gentlemen. Mohamad Mansour, CFO from Mazaya. A quick summary regarding our financial performance over the last 9 months, there has been no major movements in the... [Foreign Language] So during the year, the major movement was the sale of the treasury shares during the year. Also there was an increase in the financing long-term debt. We have made a schedule of the launch during the year. And so we managed to decrease the interest or profit rate by more than 16%. But at the same time, we -- that's an addition of QAR 200 million. During the year also, there was an increase in the receivables because we made some down payments for some projects that we will acquire during the next year. [Foreign Language] concerning the income statement. Regarding the operating revenue, there has been no major movement as the my colleagues clarify that. During the year, we acquired the AL-SADD buildings, and there was an increase in the operating revenue regarding the rental revenue. During the year, there have been no losses from the revaluations up to September recently by the year, and we'll do another test. As I mentioned before, that there is also an increase in the financing cost. Due to the increase in the financing amount by almost QAR 200 million. But we are trying to manage it starting next year. The effect will be shown through the decrease in the profit -- through the decrease of the profit rate on one of our major debts. Overall, the performance for the 9 months is almost the same, hopefully, by the year-end, things will get much better. [Foreign Language].
Any questions, please?
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[Foreign Language] Thank you very much.
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[Foreign Language] transition would like to have any small conversation [Foreign Language]
[Foreign Language]. Ms. [ May ], if you can hear me, if you have any questions, please let me know. [Foreign Language]
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Thank you, everyone. Nice to meet you all. And hopefully, we're going to meet very soon. Thank you.
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