I don't have any idea what they have to pay for labor there but here the cheapest is 35.00 hr. They will have at least 500-600 hrs in each restoration. When you are paying for labor and a project manager I can see that adding up pretty quickly.

Take 500 hours * $40.00 hr = $20,000 (500 hrs of project manager) @ 50 hr= $25000 , they are real close to 45000- 50000 in labor alone