In the preliminary operating results for the third quarter of 2026 (3Q26), Moura Dubeux (MDNE3) launched 8 projects, with Net PSV (%MD) of R$ 1,547.4 million and Gross PSV of R$ 1,627.6 million. In the same period, net sales and subscription agreements (%MD) came to R$ 841.5 million, while cash consumption, excluding dividends and share buybacks, was R$ 170 million.
Compared to 3Q25, launches in Net PSV (%MD) grew 15.5%, from R$ 1,339.7 million, and 52.8% versus 2Q26, when they totaled R$ 1,012.5 million. Net sales and subscription agreements (%MD), in turn, fell 21.5% year over year, from R$ 1,072.0 million in 3Q25, and 17.3% compared to 2Q26, which had recorded R$ 1,017.6 million.
In the first nine months of 2026 (9M26), launches reached R$ 3,868.8 million in Net PSV (%MD) and R$ 4,116.8 million in Gross PSV, while net sales and subscription agreements (%MD) totaled R$ 2,893.3 million, an increase of 2.7% compared to the R$ 2,816.0 million in 9M25. The Net Sales Over Supply (VSO) ratio (%MD) for the last 12 months was 44.7% in 3Q26, versus 53.2% in 3Q25, and the quarter’s VSO was 15.3%.
In the quarter, cancellations totaled R$ 76.0 million, equivalent to 8.3% of gross sales and subscription agreements (%MD), versus 5.2% in 3Q25 and 6.7% in 2Q26. The company ended 3Q26 with a landbank of 60 plots, with potential Gross PSV of approximately R$ 11.4 billion, and delivered 4 projects in the period, totaling Gross PSV of R$ 465 million and Net PSV of R$ 305 million.
Moura Dubeux also reports that in 3Q26 it disbursed R$ 97 million for the acquisition of land in Salvador (BA); excluding this amount, cash consumption in the quarter was R$ 73 million.
