Mirvac Group (ASX:MGR) has kicked off the 2026 financial year with significant momentum, posting a statutory profit of $319 million for the half-year ended Dec. 31, 2025.
This marks a recovery from the $1 million reported in the prior corresponding period.
The group's operating profit also climbed 5% to $248 million, translating to 6.3 cents per stapled security.
Mirvac reaffirmed its full-year earnings guidance of 12.8 to 13 cents per share, with a planned distribution of 9.5 cents per share.
Residential sales grew by 38%, with 1,304 lots exchanged, while settlements rose 22% to 835 lots.
The operational tailwind was supported by strategic restocking of the development pipeline, including approximately 2,300 lots across major projects like Blackwattle Bay in Sydney and Karnup in Perth.
Furthermore, the land lease segment showed impressive scalability, with lot sales up 50%.
Achievements include a 50% joint venture with Mitsubishi Estate for the $1 billion Harbourside project in Sydney and the recapitalisation of the $1.7 billion LIV Mirvac Build-to-Rent Fund.
Commercial ventures also remained steady, highlighted by the selection of Mirvac as the preferred developer for the Hunter Street Metro East tower.
CEO Campbell Hanan attributed the performance to disciplined strategy execution, maintaining a high 98% occupancy rate across the investment portfolio while delivering a 4.4% growth in net operating income.