2. Participants
José Antonio T. Grabowsky
CEO
Michel Wurman
Investor Relations Officer
João Mallet, CFA
Investor Relations Manager
Phone Number:+ 55 (21) 3504-3800
E-mail: ri@pdgrealty.com.br
Website: www.pdgrealty.com.br/ri
3. 3Q07 Operational
Highlights
Launched Potential Sales Volume (PSV) totaled R$981 million and PDG Realty's pro rata stake
came to R$385 million.
Of the units launched within the quarter, 69% have already been sold.
PDG Realty participated in the launch of 21 projects, totaling 4,755 units.
PDG Realty Net Revenue stood at R$169.1 million, up by 1,432% on the same period a year ago.
EBITDA totaled R$44.1 million accompanied by a 26.1% margin, 1,087% up in the 3Q06.
Pro rata Landbank reached R$4.8 billion (distributed across 227 projects), an increase of 45%
compared to 2Q07 Landbank.
EBITDA guidance revision for 2007, increasing from the R$100 – R$110 million range to the
R$135 – R$140 million range.
Pro rata PSV guidance revision for 2008, increasing from the R$1,5 – R$1,7 billion range to the
R$1,9 – R$2,1 range.
3
4. Corporate Highlights
Acquisition of 30% of TGLT S.A., leading developer in the Argentinean real estate market.
Investment in Brasil Brokers, a real estate brokerage and consulting holding composed of 16
operational companies, featuring the largest sales force in the country. The company recently
concluded its “IPO”, raising R$608 million on the primary and secondary offers (not considering
the green shoe).
Increase of the Company’s stake in Goldfarb to 75% with the option to acquire an additional
5%.
Partnership with LN Empreendimentos Imobiliários for the development of projects in the states
of Paraná and Santa Catarina.
REP and Kimco Realty Partnership for the development of real estate projects focused on
revenue generation.
Conclusion of second primary offering of PDG Realty shares (“Follow on”), raising
approximately R$575 million (including Green Shoe).
Dominus Engenharia Partnership for the development of real estate projects in the state of
Minas Gerais.
4
5. Corporate Highlights
PDG Realty has been managing to create new businesses based on the private equity model
and establish new successful partnerships with companies with proven track record.
Notes:
1 25% directly and 11.9% indirectly through Lindencorp
2 Subject to further changes after new acquisitions
5
6. PDG Realty Towards
the Low Income
Segment
In the 3Q07 the launches in the Low Income sector accounted for 65% of the pro rata PSV
launched, and a total amount of R$252 million.
Regarding financials figures, the EBITDA from the segment accounted for R$25.4 million, or
57.4% of PDG Realty's EBITDA in the 3Q07
PS Launched pro rata PDG Realty - 3Q07
V
High Income;
Lots;
Commercial; 1.2%
Launches per Segment - 3Q07
0.3%
3.1% Mid-High
Income; 24.2%
13
4 3
1 1 1
Mid Income;
5.8%
High Income Mid-High Mid Income Low Income Commercial Lots
Income
Low Income;
65.5%
6
7. PDG Realty Towards
the Low Income
Segment
Our Landbank reflects our exposure to the low income segment: 73% of the pro rata PSV to
be launched comes from this segment, totaling R$3.5 billion
L Income L
ow andbank - PSV pro rata L Income L
ow andbank - Units
from R$ 200k to from R$ 200k to
R$ 250k; 2,8% up to R$ 100k; R$ 250k; 3,7%
23,7% up to R$ 100k;
33,3%
from R$ 100k to
from R$ 100k to
R$ 200k; 63,0%
R$ 200k; 73,6%
7
8. Operational Performance
3Q07
In the 3Q07, we participated in launches which represented a total PSV of R$981 million,
with PDG Realty’s stake coming to R$385 million.
8
9. Operational Performance
3Q07
In 3Q07 we launched 21 projects, geographically distributed as follows: 16 in the state of
São Paulo (13 in the city of São Paulo and 3 in other cities), 4 in the city of Rio de Janeiro and
1 in Espírito Santo state.
PS pro rata PDG Realty Distribution of Partners - 3Q07
V
PS Launched pro rata PDG Realty by Region - 3Q07
V
Cipasa; 0.3%
LDI; 3.1%
Rio de Janeiro; Espírito Santo;
8.4% Co-inc; 33.4%
C 8.4%
HL;
3.7%
SP- Other Cities;
15.1%
SP- Capital;
Co-inc
72.8% Goldfarb;
Goldfarb;
32.7%
22.2%
9
10. Operational Performance
3Q07 - Sales
Total contracted sales stood at R$923 million in the 3Q07 while PDG Realty’s pro rata stake came to R$339
million. Of the units launched in the 3Q07, so far 69% has been already sold.
PSV Pro-
PSV (R$ % Total Sold Units
Project rata Units Sold Units Segment
MM) PDG (%)
PDG
São Paulo - Capital
1 Villagio de Vicenza 3,3 75,00% 2,5 32 32 100% Low Income
2 Bio Vita 50,7 37,50% 19,0 400 341 85% Low Income
3 Villagio Torino 10,5 75,00% 7,9 101 94 93% Low Income
4 Ellegance 20,1 87,50% 17,6 188 76 40% Low Income
5 Vida Bella 16,4 75,00% 12,3 196 121 62% Low Income
6 Vida Áurea 26,2 87,50% 23,0 347 343 99% Low Income
7 Blue Sky 40,3 37,50% 15,1 346 75 22% Low Income
8 Domínio Marajoara 325,9 20,00% 65,2 594 585 98% Mid - High
9 Eco Life Santanna 28,1 80,00% 22,4 92 80 87% Mid Income
10 Villagio di Genova 7,9 75,00% 6,0 91 69 76% Low Income
11 LIV 168,0 7,12% 12,0 400 280 70% Mid - High
12 Ville d'France 41,8 87,50% 36,5 352 51 14% Low Income
13 Eco Life Independência 51,1 80,00% 40,9 216 43 20% Low Income
São Paulo - Other Cities
1 Cittá di Roma 42,6 87,50% 37,3 400 278 70% Low Income
2 Dream Vision 22,4 87,50% 19,6 144 138 96% Low Income
3 Portal de Bragança 36,0 3,16% 1,1 383 272 71% Land Parcelling
Rio de Janeiro
1 Prime Gavea 14,5 50,00% 7,3 25 23 92% Mid - High
2 Spazio 17,6 50,00% 8,8 40 32 80% Mid - High
3 Diamond Noblesse 9,0 50,00% 4,5 5 1 20% High Income
4 Metropolitan 23,5 50,00% 11,8 144 144 100% Comercial
Espírito Santo
1 Solar das Ilhas (1º Fase) 25,1 57,50% 14,4 259 206 80% Low Income
21 Total 981,00 385,03 4.755 3.284 69%
10
11. Operational Performance
3Q07 - Sales
3Q07 launch highlights:
Metropolitan
Domínio Marajoara
CHL
Partner Cyrela/QG/MAC Partner
Rio de Janeiro / RJ
Location São Paulo/ RJ Location
September/2007
Launch September/2007 Launch
R$ 23 mm
Total PSV R$ 325 mm Total PSV
144
Units 594 Units
100%
% sold 98% % sold
Vida Áurea Villagio de Vicenza
Goldfarb
Partner
Partner Goldfarb
Location São Paulo / SP
Location São Paulo / SP
Launch July/2007
Launch September/2007
Total PSV R$ 3,4mm
Total PSV R$ 27,2 mm
Units 32
Units 347
% sold 100%
% sold 99%
11
12. Operational Performance
3Q07 - Sales
3Q07 launch highlights:
Prime Gavea
LIV
CHL
Partner
LDI / Setin / Abyara
Partner
Rio de Janeiro / RJ
Location
São Paulo / SP
Location
August/2007
Launch
September/ 2007
Launch
Total PSV R$ 14,5mm
Total PSV R$ 159 mm
Units 25
Units 400
92%
% sold
% sold 70%
Dream Vision Eco Life Santanna
Partner Esfera
Partner Goldfarb
Location São Paulo/SP
Location Campinas/ SP
Launch September/2007
Launch September/2007
Total PSV R$ 28,1mm
Total PSV R$23,2mm
Units 92
Units 144
% sold 85%
% sold 96%
12
13. Operational Performance
3Q07 - Sales
3Q07 launches sales velocity:
% of Sales on each quarter
(acumulated)
Project Developer Segment Total 30 days 60 days 90 days
Villagio de Vicenza Goldfarb Low Income 100.00% 84.38% 100.00% 100.00%
Bio Vita Goldfarb Low Income 85.00% 33.25% 66.00% 85.00%
Villagio torino Goldfarb Low Income 93.00% 42.57% 76.24% 93.00%
Cittá di Roma Goldfarb Low Income 67.00% 29.25% 52.25% 67.00%
Portal de Bragança CDU Lots 71.02% 60.57% 67.89% 71.02%
Ellegance Goldfarb Low Income 40.43% 23.94% 40.43% n/a
Vida Bella Goldfarb Low Income 61.73% 40.31% 61.73% n/a
Vida Áurea Goldfarb Low Income 98.85% 75.79% 98.85% n/a
Dream Vision Goldfarb Mid Income 95.83% 78.47% 95.83% n/a
Prime Gavea CHL Mid High Income 92.00% 92.00% 92.00% n/a
Domínio Marajoara Cyrela/ Queiroz/ Mac Mid High Income 98.48% 91.41% 98.48% n/a
Eco Life Santanna Esfera Mid Income 84.78% 66.30% 84.78% n/a
Villagio di Genova Goldfarb Low Income 75.82% 42.86% 75.82% n/a
Spazio CHL Mid High Income 80.00% 75.00% 80.00% n/a
Blue Sky Goldfarb Mid - Low Income 21.68% 21.68% n/a n/a
Metropolitan CHL Commercial 100.00% 100.00% n/a n/a
LIV Lindencorp Mid High Income 70.00% 70.00% n/a n/a
Solar das Ilhas (1º Fase) Goldfarb Low Income 79.54% 79.54% n/a n/a
Ville d'France Goldfarb Low Income 14.49% 14.49% n/a n/a
Diamond Noblesse CHL High Income 20.00% 20.00% n/a n/a
Eco Life Independência Esfera Low Income 15.28% 15.28% n/a n/a
13
14. Operational Performance
3Q07 - Sales
Sales velocity for the units launched in each quarter:
10.000 S alesVelocity: 71%
8.957
Launched Unitsx % sold on the
9.000
Launch Quarter
8.000
7.000
6.000
69%
4.755 8,957
5.000
4.000
57%
3.000
4,755
34%
2.000
2, 570
.
1.000 1,632
.
-
1Q07 2Q07 3Q07 9M07
14
15. Operational Performance
3Q07 - Sales
The table below shows the track record of PDG Realty launches. Note that 81% of the units launched so far
have already been sold:
3Q07 PSV sold -
Launched Units
Units Sold % of Sale 3Q07 Sales PDG Realty's
Developments Launched
Stake
Year 2003 3 293 291 99% 2 0.5
3rd Q 1 188 188 100% - -
4th Q 2 105 103 98% 2 0.5
Year 2004 5 826 796 96% 8 4.5
1st Q - - - 0% - -
2nd Q 1 69 48 70% 3 0.9
3rd Q 2 120 115 96% 2 0.6
4th Q 2 637 633 99% 3 3.0
Year 2005 9 2,686 2,483 92% 107 7.0
1st Q 1 25 23 92% 3 1.0
2nd Q 3 647 575 89% 9 0.9
3rd Q 1 53 53 100% - -
4th Q 4 1,961 1,832 93% 95 5.1
Year 2006 28 4,083 3,613 88% 342 23.0
1st Q 4 977 973 100% 7 0.2
2nd Q 2 418 400 96% 51 1.3
3rd Q 6 467 415 89% 17 0.8
4th Q 16 2,221 1,825 82% 267 20.7
Year 2007 56 8,957 6,398 71% 3,895 304.0
1st Q 14 1,632 1,248 76% 198 14.8
2nd Q 21 2,570 1,866 73% 413 29.1
3rd Q 21 4,755 3,284 69% 3,284 260.1
1 32 32 100% 32 2.5
july
4 1,284 985 77% 985 50.3
august
16 3,439 2,267 66% 2,267 207.3
september
TOTAL 101 16,845 13,581 81% 4,354 338.9
15
16. Landbank – 3Q07
PDG Realty's pro rata Landbank currently totaled R$4.8 billion (distributed across 227
projects), representing an increase of 45% compared to 2Q07 Landbank.
Landbank Breakdown PSV Pro rata PDG Realty PSV Pro rata PDG Realty Geographic Distribituion
PR; 1,9%
High Income; Mid High BA; 2,4%
Lots; 7,2% E 4,9%
S;
1,0% Income; 4,4% S 0,0%
C;
Commercial; Mid Income; S 24,5%
P;
7,9% 7,7%
RJ; 23,2%
S -Other
P
cities; 43,1%
Low Income;
71,8%
16
17. Landbank – 3Q07
In the tables below we present the expected pro rata PSV Duration in PDG Realty's
Landbank and the pro rata PSV x R$/m2 dispersion:
2500 Estimated Duration of pro rata PSV - R$ billion Landbank - PSV pro rata x R$/ m2
100
1.900- 2.100
90
2000
80
70
60
1500 PSV pro
1.200 - 1.400
50
rata PDG
Realty 40
(R$ 30
1000 million)
20
10
0.650- 0.750
0
0.300 - 0.400
500
0.300 - 0.400
1.000 2.000 3.000 4.000 5.000 6.000 7.000 8.000
0.070 - 0.100
0.01 R$/ m2
0
2007 2008 2009 2010 2011 2012 2013
17
18. Financial Highlights –
3Q07
Adjusted Net Income - R$ millions
Adjusted Net Income - R$ millions
21,3
67,7
20,5
1,5
3Q06 3Q07 9M06 9M07
EBITDA - R$ millions EBITDA - R$ millions
44,2
100,7
Margin
Margin
27,9%
26,1%
11,0 25,2
Margin
Margin
26,3%
33,0%
9M06 9M07
3Q06 3Q07
18
19. New Guidance
Revision
We have recently reviewed our guidance for launches (PDG Realty's pro rata stake in PSV) for the fiscal
year of 2007 and now as a result of the follow on we project our pro rata PSV launchings from R$1.9 to
R$2.1 billion, as shown below.
Also, as a result of the Company's investments and operational performance in the 9M07, we revised our
EBITDA expectation for 2007, to R$135 – R$140 million, as presented below:
Guidance Revision (R$ billion)
1.9 - 2.1
2000
EBITDA Guidance (R$ million)
1.5 - 1.7
135 - 140
1500
1.05 - 1.2
100 - 110
0.9 - 1.1
1000 0.8 - 0.9 80 - 90
0.75
500
0
Guidance IPO Revisão Revisão Guidance Guidance Guidance Guidance 1Q07 Guidance 2Q07 Guidance 3Q07
Março/ 07 Maio/ 07 atual 2007 inicial 2008 revisado 2008
19
20. Goldfarb 3Q07
Highlights
Total launched PSV stood at R$307.37 million, with PDG Realty´s stake totaling
R$211,15 million.
Of the units launched in the 3Q07, 64% have already been sold.
Goldfarb participated in the launch of 12 projects, totaling 2,856 units.
Goldfarb’s net revenue stood at R$80,801 million in the 3Q07, versus R$1,404 million in
the same quarter the year before.
Year-to-date EBITDA totaled R$36.7 million with 22,2% margin. On 3Q07 EBITDA came
to R$18,198 million in the 3Q07, with a margin of 21.8%.
Goldfarb’s Landbank reached R$4.4 billion (distributed across 112 projects) with PDG
Realty´s stake totaling R$3,4 billion. The number of units totaled 35,676.
20
21. Goldfarb 3Q07
Highlights
Operational highlights
Launched Projects
Total PSV - R$ mm PDG Realty pro rata PSV - R$ mm
33
644,57 345,85
211,15
307,37
12
3Q07 9M07 3Q07 9M07
3Q07 9M07
Total Launched Area - m2
Units Launched
5.283 294.893
2.856 149.769
3Q07 9M07
3Q07 9M07
21
22. Goldfarb 3Q07
Highlights
Of the 2,856 units launched in the 3Q07, 64% have already been sold:
Sold Units PDG Realty
Project PSV (R$ mm) Units Units sold Segment
(%) PSV
São Paulo - Capital
1 Villagio de Vicenza 3,3 32 32 100% 2,50 Low Income
2 Bio Vita 50,7 400 341 85% 19,02 Low Income
3 Villagio Torino 10,5 101 94 93% 7,87 Low Income
4 Ellegance 20,1 188 76 40% 17,56 Low Income
5 Vida Bella 16,4 196 121 62% 12,32 Low Income
6 Vida Áurea 26,2 347 343 99% 22,96 Low Income
7 Blue Sky 40,3 346 75 22% 15,11 Low Income
8 Ville d'France 41,8 352 51 14% 36,55 Low Income
9 Villagio di Genova 7,9 91 69 76% 5,96 Low Income
São Paulo - Other Cities
1 Cittá di Roma 42,6 400 278 70% 37,28 Low Income
2 Dream Vision 22,4 144 138 96% 19,61 Low Income
Espírito Santo
1 Solar das Ilhas (1º Fase) 25,1 259 206 80% 14,42 Low Income
12 Total 307,37 2.856 1.824 64% 211,15
22
23. Goldfarb 3Q07
Highlights
Goldfarb´s Landbank is composed of 112 projects distributed across 35,676 units, with a
total PSV of R$4.4 billion, with PDG Realty´s stake reaching R$3.4 billion.
The total exposure of Goldfarb´s Landbank to the low income segment reached 90% (in
terms of total PSV), as per the chart below:
Total PSV distribution of Landbank
Total PSV Distribution
Land Parceling;
5,5% Others; 8,3%
Mid Income;
4,4%
Goldfarb; 54,0%
Co-dev PDG
Realty ; 37,7%
Low Income;
90,1%
23
24. Final Remarks
Exposure to the Low Income Flexibilidade pararata PSV in Lanbank amounts R$ 3,5 billion with over
Low Income Pro atuar em todos os segmentos do mercado
Segment 35 k units
imobiliário Brasileiro
Expertise and capacity to invest in:
– Geographic regions
Diversification
– Market
– Income class segments
Count on the best
Abilidade “hire”agregar os melhores profissionais do mercado e on
Ability to para the best management in the industry and leverage
management teams in the their specific and local knowledge
alavancar suas abilidades em suas especificas áreas de atuação
industry
Additional capital gain Potenciaisgains in capital through its portfolio investments
Potential ganhos de capital através dos seus investimentos de
portfolio
potential
Management with strong real estate expertise, financial background
Gestão com grande culture to implement PDG Realty´s business
and return oriented expertise no setor imobiliário e financeiro com
Management expertise
forte cultura de maximização de retornos
strategy
The right platform to accomplish a sustainable long term growth
Unique business model in the Brazilian real estate market
24
