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(Graphic: Business Wire)

Delivered Projects

Gafisa delivered 67 projects encompassing 6,032 units during the second quarter of this year, a 38% increase on the 4,359 delivered during 2Q11. The 1H12 result equates to 51% of full-year guidance. In 1H12, the projects delivered by the Gafisa Group reached 12,197 units, representing a 64% y-o-y increase. See the accompanying chart for detailed information.

Chart 1. Delivered units (2007 – 2Q12) (See graphic.)

Consolidated Launches

Second-quarter 2012 launches totaled R$546.5 million, an 18% increase compared to 1Q12. Y-o-Y launches decreased 60% due to the implementation of the turnaround strategy announced at the end of 2011. The result represents 34% of the mid-range of full-year launch guidance of R$2.7 to R$3.3 billion and is in keeping with seasonally lower launches in the first half. 11 projects/phases were launched across 5 states in 1H12, with Gafisa accounting for 67% of launches and Alphaville the remaining 33%.

Table 1. Gafisa Group Launches (R$ million)

Launches       2Q12       1Q12       Q/Q(%)       2Q11       Y/Y(%)       1H12       1H11       Y/Y(%)    
Gafisa Segment 465,900 214,690 117% 935,259 -50% 680,590 1,163,562 -42%
Alphaville Segment 80,619 249,050 -68% 95,567 -16% 329,669 277,482 19%
Tenda Segment       0       0       0%       349,443       nm       0       451,832       nm
Total       546,519       463,740       18%       1,380,270       -60%       1,010,259       1,892,875       -47%

Note: NM not meaningful

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