(1) CCDI reported positive results for the fourth consecutive quarter with increases in launches, contracted sales, and revenues. (2) Key highlights included the delivery of developments, starting an own construction cell, and acquiring new land, especially for the low-income segment. (3) Contracted sales reached R$343.5 million in 3Q10, a 27.3% year-over-year increase, with over 90% of sales originating in the state of São Paulo.

1. Conference Call
3Q10 Results3Q10 Results
11/10/2010

2. SPEAKERS
• FRANCISCO SCIAROTTA
CEO – CCDI
• LEONARDO ROCHA
2
CFO and IRO – CCDI
• MAURÍCIO TAVARES BARBOSA
Real Estate Director– CCDI

3. 3Q10 Highlights
Four consecutive quarters of positive and increasing results
Delivery of Developments
Start of the Own Construction Cell
3
Start of the Own Construction Cell
Land acquisition, specially for the low Income Segment
Master Imobiliário Award: In Berrini Development

4. 3Q10 Operational Results

5. LAUNCHINGS
5
318.9
971.0
LAUNCHINGS (R$ MM)
100% CCDI
HM CCDI
71,9%
of the guidance
189.1
312.1
652.1
56.0
102.0
192.9
157.4
318.9
56.0
291.1
505.0
157.4
3Q09 2Q10 3Q10 9M09 9M10

6. CONTRACTED SALES
6
27.3% 35.2%
314.8
343.5
CONTRACTED SALES OF
LAUNCHINGS AND INVENTORY
Contracted Sales of Launchings (%)
Contracted Sales of Inventory (%)162.6
851.1
CONTRACTED SALES (R$ MM)
100% CCDI
HM CCDI
96.7%
57.9% 66.9%
72.7% 64.9%
3.3%
42.1%
33.1%
27.3% 35.2%
194.5 185.0 192.9
3Q09 4Q09 1Q10 2Q10 3Q10
77.4
254.5 283.1 256.6
688.5
117.1
60.3 60.4
231.5
194.5
314.8 343.5
488.1
3Q09 2Q10 3Q10 9M09 9M10

7. CONTRACTED SALES
7
São Paulo
(Country +
Shoreline);
Minas
Gerais and
Espírito
Santo;
1.1%
Paraná;
5.0%
Rio de
Janeiro;
1.5%
3Q10 CONTRACTED SALES
By Location
Low
Income;
18.1%
Small
Offices;
5.0%
3Q10 CONTRACTED SALES
By Market Segment
SALES FROM SEGMENTS UNDER R$ 500.0
THOUSAND PER UNIT REPRESENTED: 58,2%
SALES ORIGINED IN THE STATE OF
SÃO PAULO: 92,4%
Shoreline);
26.4%
São Paulo
(Capital +
RMSP);
66.0%
1.1%
Economic;
5.5%
Medium;
23.6%
Medium –
High;
11.0%
High-
Luxury;
36.8%

8. INVENTORY PRICED TO MARKET
8
42.8%
53.9%
815.0 841.4
1,086.7
INVENTORY PRICED TO MARKET
(R$ MM)
São Paulo
MG and
Espírito
Santo
Paraná;
2.8%
Rio de
Janiero;
1.6%
INVENTORY PRICED TO MARKET
By Location
1.7% 2.0%
53.7% 55.2% 44.8%
44.6% 42.8%
1Q10 2Q10 3Q10
Concluded Units Under Construction Units
Launching Units
1.3%
São Paulo
(Country +
Shoreline)
36.4%
São
Paulo
(Capital
+ RMSP)
48.8%
Santo
10.4%

9. 25.5%
48.5%
45.4%
37.7%
34.7%
SALES SPEED – VSO (%)
SALES SPEED - VSO
9
23.7%
18.5% 19.3%
28.5%
25.5%
18.7%
3Q09 4Q09 1Q10 2Q10 3Q10
CCDI Consolidated HM Engenharia
* Excludes Ventura Corporate Towers values
SPEED OD SALES (VSO): This indicator measures the ratio between the total amount of contracts sold over the total amount of
contracts available for sale. The higher the ratio, the faster the Company is selling its units. For analysis purposes, we have used retail
units exclusively for both contracted sales and contracts available for sale.

10. LAND BANK
10
HM Engenharia’s
Exlcusive Land Bank
R$1.9 billion
.0,7
(0.3)
LAND BANK
(R$ BILLION)
8.7 9.1
(0.3)
Land bank 2Q10 Acquitions 3Q10 Launching 3Q10 to
Land Bank Value
Land bank 3T10

11. LAND BANK – R$9.1 billion in PSV
11
Low
Income
Triple A
13.8%
LAND BANK 3Q10
By market segment
ES, PR and
MG; 6%
Rio de
Janeiro; 1%
LAND BANK 3Q10
By Location
Income
29.0%
Economic
21.1%Medium
16.2%
Mid - High
4.2%
Other
15.6%
São Paulo
Capital;
40,9%
SP
Metropolit
an Region;
29,8%
São Paulo
(Country +
Shoreline;
22%

12. Financial Performance

13. NET REVENUE(R$MM)
13
149.1
755.2
NET REVENUE
(R$ MM)
HM
CCDI
65.4
164.8 210.4 251.4
606.1
38.5
54.4
62.0
95.7
103.9
219.2
272.4
347.0
3Q09 2Q10 3Q10 9M09 9M10

14. GROSS INCOME(R$MM)
14
-3,9
36.5 53.2 47.4
176.6
17.2
18.4 23.5
45.0
5.5
53.7
71.6 71.0
221,6
3Q09 2Q10 3Q10 9M09 9M10
GROSS INCOME
(R$ MM)
HM CCDI
5.3%
24.5% 26.3%
20.5%
29.3%
3Q09 2Q10 3Q10 9M09 9M10
CONSOLIDATED GROSS MARGIN
(%)
-3,9
9,5

15. EXPENSES
15
9.6 6.7 8.6
9.2%
3.0%
3.2%
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
0
2
4
6
8
10
12
SALES EXPENSES
(R$ MM)
20.5
19.8
5.9%
2.6%
0%
1%
2%
3%
4%
5%
6%
7%
19,4
19,6
19,8
20
20,2
20,4
20,6
Sales Expenses Sales Expenses/NOR
3Q09 2Q10 3Q10 9M09 9M10
21.3
16.7
17.8
20.5%
7.6% 6.5%
0%
5%
10%
15%
20%
25%
0
5
10
15
20
25
3Q09 2Q10 3Q10
SG&A EXPENSES
(R$ MM)
48.8
51.5
14.1%
6.8%
0%
2%
4%
6%
8%
10%
12%
14%
16%
47
47,5
48
48,5
49
49,5
50
50,5
51
51,5
52
9M09 9M10
SG&A Expenses SG&A Expenses/NOR

16. NET INCOME(R$MM)
16
-60.4
15.7
17.7
-39.1
94.6
1.3 9.3
8.4
5.2
21.8
25.0 26.1
-44.2
116.4NET INCOME
(R$ MM)HM CCDI
-59.4%
11.4% 9.6%
-12.7%
15.4%
3Q09 2Q10 3Q10 9M09 9M10
CONSOLIDATED NET MARGIN
(%)
-61.8
3Q09 2Q10 3Q10 9M09 9M10

17. EBITDA (R$MM)
17
(57.6)
36.6 46.2
(29.6)
158.2
CONSOLIDATED EBITDA
(R$ MM)
-55.5%
16.7% 16.9%
-8.5%
21.0%
3Q09 2Q10 3Q10 9M09 9M10
CONSOLIDATED EBITDA MARGIN
(%)
3Q09 2Q10 3Q10 9M09 9M10

18. REVENUES AND RESULTS TO BE RECOGNIZED(R$MM)
18
999.0
1,123.0
1,190.0
REVENUES TO BE RECOGNIZED
(R$ MM)
289.7
338.4 363.4
RESULTS TO BE RECOGNIZED
(R$ MM)
3Q09 2Q10 3Q10 3Q09 2Q10 3Q10
29.0% 30.1% 30.5%
3Q09 2Q10 3Q10
MARGIN TO BE RECOGNIZED
(%)

19. CASH / INDEBTEDNESS (R$MM)
19
2.9
CHANGE IN CASH POSITION
(R$ MM)
376.4
446.1
46.9% 49.1%
56.3%
0,4
0,5
0,6
300
350
400
450
500
NET DEBT
(R$ MM)
281.7 284.6
Cash in Jun/10 Net Cash used in
3Q10
Cash Position in
Sep/10
275.0
376.4
0
0,1
0,2
0,3
0
50
100
150
200
250
3Q09 2Q10 3Q10
Net Debt Net Debt/Shareholders Equity

20. 225.3
43.9 43.6
5.9
12.6
199.7 199.7
237.9 243.6 243.3
5.9
INDEBTEDNESS TIMELINE
(R$ MM) Corporate Debt
Housing Financing
System (SFH)
INDEBTEDNESS
20
Gross Debt
September/2010
R$730.7 million
43.9 43.6
5.9
Sep/2010 to Sep/2011 Sep/11 to Dec/11 2012 2013
780.6
77.5 49.9 52,6 5.3 1.2
Sep/2010 to
Sep/2011
Sep/11 to
Dec/11
2012 2013 2014 2015 and
forward
ACCOUNTS RECEIVABLE TIMELINE
(R$ MM)
Accounts
Receivable
September/2010
R$967.0 million

21. CONTACT INFORMATION
Leonardo de Paiva Rocha
CFO and IRO
ri.ccdi@camargocorrea.com.br
Tel: (11) 3841-4824
CFO and IRO
Camila Poleto Bernardi
IR Coordinator
Gabriel De Gaetano
IR Analyst