Mazaya Real Estate Development Q.P.S.C. (MRDS) Q4 FY2025 Earnings Call Transcript & Summary
March 5, 2026
Earnings Call Speaker Segments
Ahmed Ibrahim
Executives[Foreign Language] Hi, everyone. This is Ahmed Ibrahim, the CFO of Mazaya Real Estate Development. I'm just going to give you a brief -- I'm going to give you a brief about the financial statement for the period ending December 31, 2025. This year, actually, the financial statement is sort of a turnaround situation for Mazaya Real Estate since Mazaya actually closed all of the legal cases last year. So Mazaya basically had a turnaround situation. So from QAR 69.9 million losses last year, we achieved a net profit this year of QAR 54 million with an increase of 177%. And of course, the main reason for that was the legal provision that Mazaya had to take in the previous years and then the subsequent settlement that happened with one of the contractors to one of the projects that Mazaya developed a few years ago. And after that, basically, Mazaya actually started to grow its assets and to focus on the current projects and the new projects in the pipeline. So this is just a brief about the situation with Mazaya actually in the past year 2025. So when it comes to the profit and loss, Mazaya made an increase of 7% as far as the gross income. And the operating profit also made an increase of 1,000% of course, compared to the last year because of the losses. The finance cost almost stagnant. And then we have a net -- as I mentioned earlier, we have a net profit of QAR 54 million compared to QAR 69.9 million -- almost QAR 70 million losses last year. I'll just give you a brief about the financial position and the balance sheet. We have the noncurrent assets and the current assets mainly almost -- we have slight changes mainly due to the provision we had and the trade receivable for the settlement of the claim, okay? So it was like about -- last year it was around QAR 168 million. So that was offset by the growth we have in our development projects. We have new projects or the development properties, we have an increase of 156% amounting to QAR 70 million. So the total assets mainly is QAR 2.568 billion compared to QAR 2.649 billion. So it's just a slight change, as I mentioned, the reason why. Now we go to the equity. In the equity side, since we had accumulated losses from last year with the profit this year and the appropriation to the legal reserve as well as the retained earnings, we -- from QAR 69 million we had last year in the retained earnings, we have negative QAR 21 million to QAR 700 million. So basically, we reduced the accumulated loss by QAR 47 million this year. So that's an increase -- a decrease of 69%. So the total equity is QAR 1.009 billion compared to QAR 956 million last year. So we have basically total equity above the share capital amount, including the legal reserve. Basically, in the liability side, there is no much change, okay, as far as the borrowing. And also the -- as I mentioned, with the legal case or the provision we had, so the trade payable is the other side from -- in the balance sheet where basically we had the amount payable to the claim. So that has been reduced from QAR 230 million -- QAR 231 million last year to QAR 129 million this year. So overall, basically, total equities and liabilities also like we have a slight change of minus 3% for the reason mentioned earlier. So -- and this is just a brief about the financial statements. So if you guys have any questions or you'd like to ask about anything, please let me know. Feel free to ask.
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Ahmed Ibrahim
Executives[Foreign Language] Can you increase the volume a little bit? [Foreign Language]
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