Aura Israel shares have surged 146% from the beginning of the year, and as of last week, it was trading at a value of NIS 1.38 billion – according to a company report from last week.
Follow Israel Hayom on Facebook and Twitter
In addition, the company, one of the leading construction firms in Israel, reported a significant growth in its profits and activity: its net profits for the quarter rose by 220% in a year-on-year comparison, and by 166% in the first nine months of 2021. The company also reported a 27% rise in equity compared to the end of 2020.
The company's equity reached an unprecedented NIS 472 million – an increase of NIS 103 million, compared to its equity in late 2020, which totaled NIS 369 million. This increase reflects an improvement in the company's financial strength, with its capital to net CAP ratio growing from 28% to 40.1%.
Yaakov Atrakchi, Aura's owner and CEO: "We're preparing to sell thousands of housing units in the upcoming two or three years, creating billions of shekels of income for the company and gross profits totaling hundreds of millions of shekels."
Aura is currently initiating, planning, and building 50 projects in Israel that include some 23,808 housing units, in which the company's effective share is about 18,068 units. Out of the total number of projects, 40 are in the field of urban renewal, where the company will build about 19,184 housing units. Its effective share in these projects is about 13,903 units.
The company also reported selling 506 housing units from the beginning of the year, compared to 343 during all of 2020. Its sales for the quarter totaled NIS 193.4 million, out of which NIS 189.3 million were from sales of housing units.
Subscribe to Israel Hayom's daily newsletter and never miss our top stories!
As part of the residential projects the company is planning or building, it plans to build commercial complexes containing a total of about 35,000 sq.m. So far, the company has sold about 9,000 sq.m. in these commercial properties. According to the company's management, in the coming years it is expected to build about 26,000 sq.m. of commercial rental space, which could produce an annual income of about NIS 37 million.
Recently, Aura announced equity investments totaling NIS 47 million by More Investment House (according to a company value of NIS 870 million), turning More into shareholders owning 5.2% of the company, with an option to purchase another 1.1%. Menorah holds 11.7% of the company.
This article might include sponsored and commercial content/marketing information. Israel Hayom is not responsible for its nature or its credibility. The publication of such content or information shall not be considered a recommendation and/or an offer by Israel Hayom to purchase and/or use the services or products mentioned in this article.
