Mirvac (ASX:MGR) reaffirmed its fiscal 2026 guidance of operating earnings per security of 12.8 cents to 13 cents, according to a Wednesday filing with the Australian bourse.

The company reported a strong sales momentum with 619 residential lots exchanged in the first quarter, up 79% from a year earlier. It has a further 432 conditional sales on hand.

The increase in sales was largely led by its Sydney and Melbourne master planned communities, reflecting growth of 105% and 125%, respectively.

The property developer expects the federal government's new first home buyer guarantee scheme to benefit its business, with more than 1,400 of its expected lot releases in fiscal 2026 falling within the updated pricing caps.