The construction company Tenda wants to increase the shareholding of foreign investors in the company of the current installment from 20% to more than 50% until the end of 2026. To achieve the objective, the company has been resuming an international relationship agenda since the second half of 2025.
In September, the company focused on affordable housing and which claims to be the fourth largest developer in the country, participated in the UBS international conference in New York, where it also held meetings with managers, something that also occurred in London. In December, the company had already promoted a roadshow in Singapore and Hong Kong. This January, the company returns to London and the USA for roadshows. The company’s idea is to hold an event every quarter.
“We have to make the company better known. As the saying goes, we have to ‘wear out the sole of the shoe’,” Luiz Mauricio Garcia, the company’s financial director, told Reuters.
To increase foreign investor participation, the company intends to maintain consistent results throughout 2026. “We are well positioned. The guidance for 2026 is expected to continue growing,” said Garcia, referring to the company’s profit and sales prospects.
In a presentation to investors in December, the Tenda announced that it expects net profit between R$520 million and R$600 million in 2026. In 2024, the company had a profit of R$210.7 million.
Net sales in the Tenda segment, which builds apartments in metropolitan regions, were estimated at between R$5 billion and R$5.5 billion, while in the Alea segment, focused on producing houses in a factory for installation in condominiums, between R$350 million and R$450 million.
The latest balance sheet released by Tenda, referring to the third quarter of 2025, showed that the company had an expansion of 46.6% in net profit in the annual comparison.
“We had a market value that was below the cutoff rule for many of these (foreign) investors. But we surpassed that level,” said Garcia, adding that the cutoff level for foreign investors usually averages US$500 million.
The Tent has a market value of around R$3 billionaccording to data from Lseg. In 2025, the company’s shares accumulated an increase of 107.7%. In the early afternoon of this Friday (9), the company’s shares showed an increase of 1.89%, at R$ 25.87.
Garcia cited data from Tenda’s presentation held in December that shows significant participation of foreign investors in the share capital of companies in the sector in Brazil. In the presentation to investors, Direcional and Cury are mentioned with 57% participation of foreign investors in the shareholder base, followed by MRV with 41%. Tenda appears with 22%.
Favorable moment
The company assesses both the internal and external circumstances as favorable for the construction segment. “Brazil is back on the radar of emerging market investors. This scenario positions us well to attract investor interest,” said Tenda’s financial director.
Domestically, the proximity of the election in October and the possibility of a change of government do not worry the company, given the relevance of the Minha Casa, Minha Vida program. “We don’t see any risk to it (Minha Casa, Minha Vida) in the medium and long term,” said Garcia.
According to him, this assessment stems from the perception that the program is very solid. “Regardless of the election result, we hope that the program will continue to run. The program is going well. It is one of the federal government’s most relevant programs,” said the executive.
In relation to the Service Time Guarantee Fund (FGTS), which is one of the main sources of resources for housing credit in the country, the company also does not see risks, although it sees the granting of financing slightly above the organic capacity of the fund.
“In the short and medium term, this is well considered. The government has additional resources that support the program,” said the executive.
