Direcional Engenharia’s Q3 2024 Results Show Strong Growth in Brazilian Real Estate
Direcional Engenharia, a major Brazilian real estate company, has reported impressive financial results for the third quarter of 2024.
The company’s total launch value reached R$1.66 billion ($333 million), an 18.9% increase from the previous year. This growth showcases Direcional’s strong position in the improving Brazilian housing market.
The Direcional brand, focused on affordable housing, led the way with launches worth R$978 million ($196 million), up 20.2% year-over-year.
In addition, the Riva brand saw a 29.1% decrease with launches of R$415 million ($83 million). A new program, Pode Entrar, contributed R$271 million ($54 million) to the total.
Contracted sales showed remarkable growth across all brands. Total sales reached R$1.76 billion ($353 million), a 75.7% increase from the previous year.
The Direcional brand led with sales of R$934 million ($187 million), up 66.6%. Riva followed with $556 million ($112 million), a 26% increase.
The company’s sales velocity improved significantly. The Sales over Supply (VSO) index reached 28%, up from 17% the previous year.
However, this increase indicates stronger demand and efficient sales strategies. As of September 2024, Direcional’s inventory was valued at R$4.5 billion ($903 million).
The company’s land bank has a potential value of R$43.5 billion ($8.73 billion). These results reflect both Direcional’s strategic positioning and positive trends in the Brazilian housing market.
The focus on affordable housing, supported by government initiatives like the “Minha Casa, Minha Vida” program, has proven successful for the company’s growth and market expansion.
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