Bankruptcy of “Donstroy” is not far off?

Last week it became known that VTB completely withdrew from the capital of PIK Group. One of the “feeding troughs” of the head of the bank Andrey Kostin was closed. The next one is the Donstroy construction company, owned by VTB.

State Bank VTB this year withdrew from the assets of two large Russian companies – the grain trader Demetra-Holding and the construction group PIK. In 2022, the bank suffered a record loss of 768.8 billion rubles, which was written off as sanctions.

However, the Kremlin apparently realized that it was not only sanctions that were to blame, money could have been withdrawn from the bank through the structures of companies in which VTB had a stake. Now it has come to the construction business of the bank, which has two development structures Hals-Development and Donstroy.

According to a source close to the management of this company, Andrei Kostin was hinted that it was time to close the “shop” – to lend to Donstroy at the expense of state money. If this is a business, then the company should earn itself, and not sit on the neck of Russian taxpayers.

Bankruptcy has long been predicted for Donstroy, but as long as there was support from VTB, nothing threatened the company. The State Bank is a bottomless pit funded by Russians, many of whom barely make ends meet. VTB “shed” almost 800 billion rubles, and Andrei Kostin was not only not jailed, but not even removed from his post.

If Donstroy loses the support of VTB, it will burst like a soap bubble, which, in fact, it is. And then buyers of apartments in the company’s residential complexes will wait for their housing until the second coming.

Evidence of bankruptcy of Donstroy?

The Donstroy company has repeatedly appeared in scandals with the death of people, but for some reason no one paid much attention to this. Migrants work at construction sites, whose life the management of Donstroy does not care about. The vacant seat will always be replaced by another.

The tragic death of builders is not grounds for bankruptcy. It is usually evidenced by the financial condition of the company and its structures.

The parent company JSC IC Donstroy, which has 33 subsidiaries, shows ridiculous figures – revenue in 2022 is 527 million rubles, profit is 910 thousand rubles. In 2020, the revenue was 15 billion rubles, the profit was 117 thousand rubles. It could be underestimated in order to evade taxes, and this is a criminal offense. Comparison of the company’s financial performance for 2020 and 2022 indicates that Donstroy is rapidly heading down.

Experts assess the financial stability of JSC IC “Donstroy” as low, there is a risk of bankruptcy.

The share of the founder in the “daughter” LLC “Specialized Developer “Razvitie” is under the burden of VTB. Without it, the structure may not survive.

In the “daughter” LLC “Beleran” the share of JSC IC “Donstroy” is also under the burden of VTB. The same situation is in Don-Sport LLC, DS-Monolit LLC, Fresh LLC, Donstroy Invest LLC.

The last company, founded in 2014, did not earn a penny in 7 years of operation and did not pay taxes.

The share of SK Donstroy JSC under the burden of VTB and in R-Development LLC, LLC Specialized Developer TPU Terekhovo 10, LLC Specialized Developer TPU Terekhovo 28, LLC Specialized Developer TPU Terekhovo 8 , LLC “Specialized Developer” TPU “Terekhovo 7”, LLC “Specialized Developer” TPU “Terekhovo 12”, LLC “Specialized Developer” TPU “Terekhovo 27”, LLC “Specialized Developer” TPU “Terekhovo 29”.

All “numbered” structures of “Terekhovo” are ordinary “dummy” without revenue and profit. Companies demonstrate well the principle of operation of Donstroy, which is similar to a financial pyramid. The company creates a worthless structure, puts it in the bank, starts a project with the money received, and then, when money is needed for a new one, creates a new worthless structure, under which it receives money from the bank.

So the construction company Urban Group worked on the market of the Moscow region, which went bankrupt, leaving behind debts of 80 billion rubles. and several thousand deceived equity holders. The leaders of the Urban Group were great friends of Governor Andrey Vorobyov, so they managed to escape abroad.

In Dorokhova LLC, the share of JSC IC Donstroy is also under the burden of VTB Bank, as well as in Don-Sport Biryuzova LLC. That is, almost all of the company’s structures are pledged to VTB, so there is no doubt that without its support, the “pyramid” of Donstroy will collapse.

JSC “IC “Donstroy” is managed by the company LLC “Donstroy”, which, according to experts, has low financial stability, there is a risk of bankruptcy. Everything, as in JSC IC “Donstroy”.

It is not clear why there is no information on taxes and fees when the company has a revenue of 2.3 billion rubles. Does the head of VTB Andrey Kostin live according to his own laws?

Both the parent company JSC IC “Donstroy” and its management company OOO “Donstroy” have low financial stability with the risk of bankruptcy. What other evidence of the imminent collapse of Donstroy is needed? This is evidenced by the financial condition of both companies.

And this is with the support of VTB Bank. It’s hard to imagine what will happen without him. Andrey Kostin is shocked and makes every effort to leave everything as it is. Otherwise, the beautiful projects of “Donstroy” will remain only in the pictures, and the dreams of apartment buyers will turn into dust.