Why is Cury focusing on selling existing inventory?

Cury's co-CEO Leonardo Mesquita explained that Brazilian families are more indebted today, forcing the company to be more selective. The strategy is to sell off its current stock of units before year-end so that construction sites keep running with a high volume of transferred units — meaning mortgage financing already contracted — enabling the company to sustain its cash-generation policy.

How strong is Cury's cash generation?

In the second quarter of 2026, Cury generated R$ 144.9 million in cash, a 40% jump compared with the same period in 2025. Meanwhile, launches fell 0.8% year-on-year in Q2 and sales dropped 12.9%, reflecting the company's deliberate shift toward quality over volume.

What caused the delivery delays?

Cury reported delays in the delivery of five developments. Under Brazilian real-estate contracts, developers are allowed a six-month grace period before penalties kick in; beyond that, they must pay fines to buyers. The company's CFO, João Carlos Mazzuco, linked a R$ 22.1 million financial expense in Q2 — 41.7% higher than a year earlier — directly to contractual obligations related to late deliveries. Four projects are still being monitored by the engineering team.

Is Cury recovering its construction productivity?

Co-president of engineering Paulo Curi said the delays affected only a small share of the company's 90 active construction sites. Labour and equipment shortages were the root causes, but productivity is rebounding: up 20% in São Paulo and 30% in Rio de Janeiro in the first six months of 2026 versus the same period in 2025.

What is the inflation outlook for the sector?

Executives said costs are currently under control but warned that the construction sector's inflation environment remains unstable. The ongoing conflict in Iran continues to put pressure on oil prices, and Cury intends to stick with the conservative projections it adopted at the start of the year.