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

Mirvac Group News & Analysis

video

Our view of REITs

The sector has taken a beating but there are some opportunities. 
stocks

Two undervalued REITs report earnings

These two real estate investment trusts are trading at a discount to our fair value.
stocks

Can AREIT yields still deliver?

With government bond yields now on par with commercial property capitalisation rates, can the riskier REIT sector still deliver for investors.

Morningstar Investment Ideas

Markets

Index
Last price
Change
% Change
All Ordinaries8,661.2028.100.33%
CAC 407,255.0141.690.58%
DAX 4019,322.59176.420.92%
Dow JONES (US)44,296.51426.160.97%
FTSE 1008,262.08112.811.38%
HKSE19,167.1862.79-0.33%
NASDAQ19,003.6531.230.16%
Nikkei 22538,868.52584.671.53%
NZX 50 Index13,196.08154.181.18%
S&P 5005,969.3420.630.35%
S&P/ASX 2008,417.6023.800.28%
SSE Composite Index3,257.329.88-0.30%

Market Movers