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Brazil homebuilder MRV to boost housing starts after hitting profit estimates

25/07/2018

MRV Engenharia e Participações SA, Latin America’s largest homebuilder by units sold, is planning to launch a new round of projects in the coming months.

 MRV have reported a first quarter net income of 160 million reais, up 22 percent from the same period last year.

The company also reported healthy margins, with earnings before interest, taxes, depreciation and amortization (EBITDA) coming in at 229 million reais, up some 44 percent from the same period a year ago.

MRV’s improving figures represent a large rebound in Brazilian real estate, Co-Chief Executive Officer Eduardo Fischer said real estate demand was strengthening and operational numbers at the homebuilder would continue to improve throughout 2018.

“We’re very optimistic about the rest of the year,” he said. “We’re seeing very strong demand for real estate.”

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