1. Conference Call
2Q09 Results
08/13/2009

2. Operational Performance

3. 3
OPERATIONAL HIGHLIGHTIS
• MACROECONOMIC RECOVERY + “MINHA CASA, MINHA VIDA”
= DEMAND RECOVERY
• 2 LAUNCHINGS IN THE LOW INCOME SEGMENT - AVERAGE
PRICE OF UNITS LAUNCHED IS R$78 THOUSAND
• SALES > LAUNCHINGS > REDUCTION OF INVENTORIES
• NEW LAUNCHINGS IN THE SECOND SEMESTER > FOCUS IN
THE LOW INCOME SEGMENTS

4. 4
LAUNCHINGS (R$MM)
LAUNCHINGS (R$ MM) LAUNCHING AVERAGE PRICE
100% CCDI R$’000 (Residential)
375.5 223.3
191.9
127.5
77.9
96.1 101.4 101.4
2Q09 2Q09 1H08 1H09 2Q08 3Q08 4Q08 2Q09
*There were no launchings on 1Q09.

5. 5
CONTRACTED SALES
CONTRACTED SALES 2Q09 CONTRACTED SALES
(R$ MM) By launching period
Until 2006
2Q09 5.3%
19.2% 2007
14.5%
1Q08
498.2 5.8%
4Q08
11.1% 2Q08
263.0 293.6 3.0%
172.8
120.8
3Q08
2Q08 1Q09 2Q09 1H08* 1H09 41.2%
* Excludes values refering to Ventura Corporate Towers sales

6. 6
2Q09 CONTRACTED SALES
CONTRACETD SALES 2Q09 CONTRACTED SALES
By Market Segment by Location
Others Minas
Mid-High 8.9% Gerais
4.0% Rio de 10.9%
Low Janeiro
Income 4.9% São Paulo
41.7%
(Capital +
RMSP)
39.1%
Medium
23.3%
São Paulo
(Country +
Economic shoreline)
22.2% 45.1%
SALES FROM SEGMENTS UNDER R$500,000 SALES ORIGINED IN THE STATE OF
PER UNIT REPRESENTED 91% SÃO PAULO REPRESENTED: 84%

7. 7
INVENTORIES PRICED TO MARKET
INVENTORY PRICED TO MARKET INVENTORY PRICED TO MARKET
(R$ MM) By launching period
2Q09 Until 2006
8.5% 5.3%
4Q08
10.5%
879.5
810.8 3Q08
767.9 17.9%
2007
2Q08 50.9%
1.0%
2Q08 1Q09 2Q09 1Q08
6.0%
* Excludes values refering to Ventura Corporate Towers sales

8. 8
2Q09 INVENTORIES PRICED TO MARKET
INVENTORIES PRICED TO MARKET INVENTORIES PRICED TO MARKET
By market segment By location
12.8% 10.7% 8.2%
10.0% 11.4%
43.0% 42.9% 44.4%
29.8%
31.7% 36.8%
12,9% 9.2% 9.3% 10.3%
8.3% 6.7%
22.0% 19.0%
22.3%
10.4% 6.6% 47.1%
7.7% 39.4% 36.9%
14.1% 15.5% 20.7%
2Q08 1Q09 2Q08 1Q09 2Q09
Low Income SP - Capital RMSP
Medium Mid-High SP - Countryside SP - shoreline
High and Luxury Others States

9. 9
LANDBANK– R$10 BILLION IN PSV
2Q09 LAND BANK 2Q09 LAND BANK
By Market Segment By Location
Commercial Rio de Other
Low Income
12.5% Janeiro Estates
15.0% São Paulo
1.4% 7.5%
Shoreline
0.6%
São Paulo
Countryside
Other 10.3%
Economic São Paulo
25.0%
26.1% Capital
47.7%
RMSP
Mid-High 32.5%
9.0% Medium
12.4%

10. Financial Performance

11. 11
FINANCIAL HIGHLIGHTS
• LARGE NUMBER OF PROJECTS UNDER CONSTRUCTION >
LARGE BASE OF REVENUES RECOGNIZING
• GROSS MARGIN IMPACTED BY NON-RECORRING EVENTS
• SALES EXPENSES AND G&A ARE DECLINING
• CASH CONSUMPTION (QUARTER): R$80.5 MILLION
• CASH POSITION (END OF THE PERIOD): R$112.4 MILLION

12. 12
GROSS AND NET REVENUES(R$MM)
NET REVENUES: +22% OVER THE PREVIOUS QUARTER
FIRST QUARTER 2008 WAS IMPACTED BY THE REVENUES RELATED TO THE
SALE OF THE FIRST PHASE OF THE VENTURA CORPORATE TOWERS.
GROSS REVENUES NET REVENUES
(R$ MM) (R$ MM)
346.7 333.5
252.5 243.1
113.8 138.8 109.6 133.5
105.2 101.2
2Q08 1Q09 2Q09 1H08 1H09 2Q08 1Q09 2Q09 1H08 1H09

13. 13
GROSS INCOME (R$MM)
GROSS INCOME AND MARGIN
GROSS INCOME IS R$29.3 MILLION
GROSS MARGIN OF 21.9% WAS NEGATIVELY AFECTED BY NON-RECORING EVENTS
GROSS INCOME GROSS MARGIN
(R$ MM) (%)
123.6 37.1%
33.0%
27.0% 26.9%
+7.1% 21.9%
65.4
27.3 36.1 29.3
2Q08 1Q09 2Q09 1H08 1H09 2Q08 1Q09 2Q09 1H08 1H09

14. 14
NET INCOME (R$MM)
NET INCOME NET MARGIN
(R$ MM) (%)
55.5 16.6%
9.1%
5.7% 7.2%
17.5
10.0 7.6 -2.3%
-2.3
2Q08 1Q09 2Q09 1H08 1H09 2Q08 1Q09 2Q09 1H08 1H09

15. 15
EBITDA (R$MM)
EBITDA EBITDA MARGIN
(R$ MM) (%)
14.4% 14.6%
48.7 11.5%
9.2%
281
15.8 12.3
-7.7%
-7.8
2Q08 1Q09 2Q09 1H08 1H09 2Q08 1Q09 2Q09 1H08 1H09

16. 16
REVENUES AND RESULTS TO BE RECOGNIZED(R$MM)
REVENUES TO BE RECOGNIZED RESULTS TO BE RECOGNIZED
(R$ MM) (R$ MM)
239.6
851.0 877.3 233.4
726.6
206.9
2Q08* 1Q09 2Q09 2Q08* 1Q09 2Q09
*2Q08 not adjusted to the standards of Law 11.638

17. 17
CASH / DEBT (R$MM)
GROSS DEBT
CHANGE IN CASH POSITION
(R$ MM)
(R$ MM)
51.0
112.4
61.5 61,5 295.6
159.9
Cash used on
Cash on
Cash position
Mar/09
94.3
2T09 (net)
on jun/09
2Q08 1Q09 2Q09

18. CONTACT INFORMATION
Leonardo de Paiva Rocha ri.ccdi@camargocorrea.com.br
CFO and IRO
Access our IR Blog
Fernando Bergamin
www.ccdi.com.br/blog
Investors Relations
Tel: (55 11) 3841-5880