Mirvac Group

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