Construction company Elkhon earned a profit of 356.56 million tenge in 2025, up from 15 million tenge a year earlier, a 23-fold increase. This was reported by Qazaqyia.kz citing Kursiv Media.

The company, owned by Saule Tumaninova, the wife of Mazhilis deputy Lukbek Tumaninov, implements major government-ordered projects, including two regional airports.

Financial performance

Revenue from construction works more than tripled, rising from 19.7 billion to 72 billion tenge. The cost of services rendered increased fivefold to 56 billion tenge, but relative to revenue volume this growth was less significant. Administrative expenses nearly doubled to 14.9 billion tenge. The bulk of these expenses went to business trips – 5.7 billion tenge, while 5 billion tenge was allocated to salaries.

The company's bottom line was also affected by a 3.7-fold increase in financial expenses to 459.9 million tenge. In addition, the company paid 267 million tenge in income tax and 193 million tenge in deferred tax.

Credit line and debt

Elkhon has a credit line with Bank RBK. By the end of 2025, the loan amount had decreased from 24 billion to 7 billion tenge. The company's short-term debt to suppliers and contractors amounted to 11 billion tenge, while advances received totaled 61 billion tenge.

Core business areas

Elkhon's core activities are construction and extraction of construction materials. Since March 2025, the company has been a contractor for major infrastructure projects – the construction of airports in Zaisan and Katon-Karagai. The cost of the first project is estimated at 56 billion tenge. The total cost of building three airports – in Katon-Karagai, Zaisan and Kenderli – is 117.7 billion tenge.

Owners and awards

Elkhon is owned by Zhanbolat Kazanov, the company's head, and Saule Tumaninova. In August 2025, Kazanov received the Order of Barys II degree from President Kassym-Jomart Tokayev for significant contribution to the development of the transport industry.

Saule Tumaninova is the wife of Lukbek Tumaninov, who served as a Mazhilis deputy until July 2026. Tumaninov was a member of the committee on economic reform and regional development.

Kursiv also reported that OblShyghysZhol, part of the Elkhon structure, became the contractor for the construction of a new bridge over the Irtysh River in Ust-Kamenogorsk. The project, which will serve up to 80,000 vehicles per day, will cost 101.6 billion tenge.