Mirvac Group

MGR

Company Profile

  • Business description

    Mirvac is one of Australia’s largest residential developers, particularly apartments. Residential development earnings are volatile, generating about a quarter of EBIT in fiscal 2024, despite requiring only about less than 20% of the group’s invested capital. Over our 10-year discrete forecast period we don't expect residential development to exceed the lofty peaks seen in 2017, when Mirvac settled 3,400 residential lots. After an expected trough in 2025 we forecast modest growth as Mirvac constructs housing into an under-supplied market. About 80% of Mirvac’s earnings come from a predictable commercial property portfolio, more than half of which is high-grade office and another fourth in retail, a small industrial portfolio, and a small but growing build-to-rent residential portfolio.

  • Contact

    200 George Street
    Level 28
    SydneyNSW2000
    AUS

    T: +61 290808000

    https://www.mirvac.com

  • Sector

    Real Estate

    Stock type

    Cyclical

  • Industry

    REIT - Diversified

    Fiscal Year End

    30 June 2025

    Employees

    1,684

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