Mirvac Group (ASX:MGR) reported "strong" residential sales growth, with sales of 530 lots in the March quarter, rising 76% from the prior corresponding period, according to a Wednesday Australian bourse filing.
The company's residential pre-sales increased to around AU$2.1 billion. It also reported an uplift in pre-leasing across its commercial and mixed-use development projects.
The firm exchanged a conditional contract for the sale of a site within its masterplanned community in Brisbane to its land lease platform, adding 200 lots to the land lease development pipeline, the filing said.
Further, the company is in exclusive due diligence for the sell-down of up to a 50% interest in Harbourside, Sydney.
For fiscal 2025, the company reaffirmed its operating earnings per security guidance of AU$0.12 to AU$0.123 as well as distribution per security of AU$0.09, subject to the completion of core strategic priorities.
Mirvac Group's shares rose past 1% in recent trading on Wednesday.
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