Cyrela Commercial Properties S.A. Reports Earnings Results for the First Quarter Ended March 31, 2021
May 13, 2021 at 10:40 pm EDT
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Cyrela Commercial Properties S.A. Announced earnings results for the first quarter ended March 31, 2021. For the first quarter, the company announced total revenue was BRL 118.403 million compared to BRL 129.901 million a year ago. Net income was BRL 7.125 million compared to BRL 16.414 million a year ago.
SYN prop e tech SA, formerly known as Cyrela Commercial Properties SA Empreendimentos e Participacoes, is a Brazil-based company involved in the real estate sector. The Company focuses on the development, trade and management of commercial properties in Brazil. Its activities are divided into five business segments: Commercial Buildings, which consists of the sale and leasing of completed office properties; Real Estate Development, which is involved in the sale of office units under construction; Warehouses, which offers leasing of industrial warehouses; Shopping malls, which is responsible for the lease of stores in shopping malls; and Services, which provides management of shopping malls and parking lots, as well as development of properties. The Company owns a number of subsidiaries, such as Aquarius Empreendimentos e Participacoes Ltda, Millennium de Investimentos Imobiliarios Ltda and Miconia Empreendimentos Imobiliarios Ltda, among others.