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MRVGF (Mirvac Group) Fees and Other Income


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What is Mirvac Group Fees and Other Income?

Fees and Other Income only applies to insurance companies.


Mirvac Group Business Description

Traded in Other Exchanges
Address
200 George Street, Level 28, Sydney, NSW, AUS, 2000
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.