1. Conference Call
2Q10 Conference Call
08/11/2010

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

3. 3
2Q10 Highlights
Focus on the Client:
Hiring of a specialized company
appropriate and agile treatment
quality on construction
client on-time delivery
focus
work by process costs reduction
team work creativity and innovation
responsibility for results net margin suitable prices
integration recovery
sustainable development more with less

4. 2Q10 Operational Results

5. 5
LAUNCHINGS 35.0%
of the guidance
LAUNCHINGS (R$ MM)
100% CCDI
466.0
126.0
291.1
102.0
174.9
24.0 340.0
101.4 101.4
189.1
150.9
101.4 101.4
2Q09 1Q10 2Q10 1H09 1H10
HM CCDI

6. 6
CONTRACTED SALES
CONTRACTED SALES (R$ MM) 2Q10 CONTRACTED SALES
100% CCDI By launching period
Until
507.7 2007
2Q10 14.0%
102.2 27,3%
314.8 293.6 2008
60.3 11.1%
192.9 114.4
172.8 405.5
41.9
82.4 254.5
151.0 179.2
90.5
2Q09 1Q10 2Q10 1H09 1H10
1Q10 2009
HM CCDI 25.2% 22.3%

7. 7
CONTRACTED SALES
2Q10 CONTRACTED SALES 2Q10 CONTRACTED SALES
By Market Segment By Location
Low Minas Rio de
Small Income; Gerais e Janeiro
Offices; Paraná
18.8% Espírito 1.3%
20.3% 7.9%
Santo
0.6% São Paulo
Economic; (Country +
3.5% Shoreline)
25.8%
High- Medium;
Luxury; 12.3%
20.2%
São Paulo
(Capital +
Medium- RMSP)
High; 64.3%
24.8%
SALES FROM SEGMENTS UNDER R$500,0 SALES ORIGNED IN THE STATE OF
THOUSAND PER UNIT REPRESENTED: 59,4% SÃO PAULO: 90,1%

8. 8
INVENTORY PRICED TO MARKET
INVENTORY PRICED TO MARKET 2Q10 INVENTORY PRICED TO
(R$ MM) MARKET
841.4 By Location
Rio de
815.0
764.5 Paraná Janeiro
Minas 5.5% 2.4%
Gerais e
217.3 363.7 360.3 Espírito São Paulo
Santo (Country +
13.5% Shoreline)
31.4%
532.8
437.8 464.7 São Paulo
(Capital +
RMSP)
47.2%
14.4 13.5 16.4
2Q09* 1Q10 2Q10
Launching Units Under Construction Units
Concluded Units
* Excludes Ventura Corporate Towers values

9. 9
SALES SPEED - VSO
Consolidated VSO
(2Q10/1Q10)
increased 9.2 pp.
SALES SPEED (%)
48.5%
45.4%
37.7%
34.7%
31.0%
28.5%
23.7%
18.4% 18.5% 19.3%
2Q09 3Q09 4Q09 1Q10 2Q10
Consolidated CCDI 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. 10
LAND BANK
HM Engenharia’s
Land bank R$1.4
Billion
LAND BANK
(R$ BILLION)
0,4
(0,3)
8,6 8,7
1Q10 Land Bank 2Q10 Aquisition 2Q10 Launchings 2Q10 Land Bank

11. 11
LAND BANK – R$8.7 billion in PSV
2Q10 LAND BANK 2Q10 LAND BANK
By Segment By Location
Triple A ES, PR e Rio de
14.3% Low MG Janeiro
Income 6.0% 1.6%
24.4%
São Paulo
(Country +
Others Shoreline)
18.7% 16.8% São Paulo
Capital
44.9%
Medium- Economic
High 21.9%
4.5% Medium- RMSP
High 30.8%
16.2%

12. Financial Performance

13. 13
GROSS REVENUE AND NET REVENUE (R$MM)
HM CCDI GROSS REVENUE
(R$ MM) 501.3
90.3
274.3
227.0 252.5
33.8
56.6 59.3 411.0
138.8
36.0 240.5 193.2
170.5
102.8
2Q09 1Q10 2Q10 1H09 1H10
NET REVENUE
(R$ MM) 482.7
87.0
263.6 243.1
64.2% 32.6 219.2
54.4 57.1 395.7
133.5
34.7 231.0
164.8 186.0
98.8
2Q09 1Q10 2Q10 1H09 1H10

14. 14
GROSS INCOME(R$MM)
GROSS INCOME 150.0
HM CCDI (R$ MM) 26.6
96.3
9.4
65.4
53.7 123.4
14.1
29.3 86.9 17.2
7.7 51.3
36.5
21.6
2Q09 1Q10 2Q10 1H09 1H10
CONSOLIDATED GROSS MARGIN
(%)
36.5%
31.1%
24.5% 26.9%
21.9%
2Q09 1Q10 2Q10 1H09 1H10

15. 15
EXPENSES
SALES EXPENSES Sales Expenses
(R$ MM) 4.5%
Sales Expenses/NOR
8 11,25 6% 5%
4.9% 11,2 5%
7
11,15 5% 4%
6
11,1 4% 4%
5 3.0% 11,05 3%
4 11 3% 11.2 3%
3 6.5 4.6 6.7 10,95 2%
10,9 2% 2.3% 2%
2
1.7% 10,85 1% 1%
1 10,8 10.9 1%
0 10,75 0% 0%
2Q09 1Q10 2Q10 1H09 1H10
GENERAL AND ADMINISTRATIVE EXPENSES General and Administrative Expenses
(R$ MM) 7.6% 11.3% General and Administrative Expenses/NOR
18 40 8% 12%
16 35 8%
7% 10%
14 30
12 6.9% 7% 33.7 8%
25 7%
10 17.0
20 7% 6%
8 16.7 7% 7.0%
15
6 6% 27.6 4%
4 9.2 6.5% 10
6% 2%
2 5 6%
0 0 6% 0%
2Q09 1Q10 2Q10 1H09 1H10

16. 16
NET INCOME (R$MM)
NET INCOME 90.3
(R$ MM) 13.4
65.3
4.1
61.2 76.9
25.0
17.5
7.6 9.3
3.8
1.5 15.7 13.7
6.1
2Q09 1Q10 2Q10 1H09 1H10
HM CCDI
CONSOLIDATED NET MARGIN
(%)
24.8% 18.7%
11.4%
5.7% 7.2%
2Q09 1Q10 2Q10 1H09 1H10

17. 17
EBITDA (R$MM)
CONSOLIDATED EBITDA
(R$ MM)
112.1
75.4
12.3 36.6
28.1
2Q09 1Q10 2Q10 1H09 1H10
CONSOLIDATED EBITDA MARGIN
(%)
28.6% 23.2%
16.7%
9.2% 11.5%
2Q09 1Q10 2Q10 1H09 1H10

18. 18
REVENUE AND RESULT TO BE RECOGNIZED (R$MM)
REVENUE TO BE RECOGNIZED RESULT TO BE RECOGNIZED
(R$ MM) (R$ MM)
1,039.6 1,123.0 338.4
927.5 307.9
272.4
2Q09 1Q10 2Q10 2Q09 1Q10 2Q10
MARGIN TO BE RECOGNIZED
(%)
29,4% 29,6% 30,1%
2Q09 1Q10 2Q10

19. 19
CASH AND INDEBTDNESS(R$MM)
CHANGE IN CASH POSITION NET DEBT
(R$ MM) (R$ MM)
400
49.1% 0,6
81.0 350
0,5
300 39.0%
376.4
0,4
250
28.3%
289.3
362.7 200 0,3
281.7 150
183.2 0,2
100
0,1
50
0 0
Cash on Mar/2010 Cash used on 2Q10 Cash position on 2Q09 1Q10 2Q10
Jun/2010 Net Debt Net Debt/Shareholder's Equity

20. 20
INDEBTEDNESS
INDEBTEDNESS TIMELINE Housing Financing
(R$ MM) System (SFH)
280.1 Corporate Debt
226.9 Gross Debt
June/2010
148.0 199.6 R$658.1 million
0.1
199.6
147.9
80.5 3.2
27.3 3.2
Jul/2010 to Jun/2011 Jul/211 to Dec/2011 2012 2013
ACCOUNTS RECEIVABLE TIMELINE
(R$ MM)
Accounts
Receivable
June/2010
566.9
R$801.7 million
155.1 0.8
37.3 41.5 0.2
Jul/2010 to Jul/211 to 2012 2013 2014 2015
Jun/2011 Dec/2011

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