SYN prop e tech S.A. Reports Earnings Results for the First Quarter Ended March 31, 2022
May 11, 2022
Share
SYN prop e tech S.A. reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported sales was BRL 153.23 million compared to BRL 118.4 million a year ago. Net loss was BRL 10.92 million compared to net income of BRL 7.13 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.