Ingenia Communities CEO: “We’re cycling out of brownfield projects”
“We will launch seven communities, as we capitalise on an established pipeline to build development scale.”
Ingenia Communities CEO John Carfi has told investors the business has undergone significant change, positioning it for future growth and improved returns.
“We are cycling out of brownfield projects, with three Queensland projects complete over FY25,” John said at the company’s annual general meeting.
“We will launch seven communities, as we capitalise on an established pipeline to build development scale, in line with our five-year compound annual growth rate target for settlements of 10-15%.”
He said the new communities are expected to deliver stronger returns, with clubhouse rationalisation among the measures being implemented. One of these new communities is Ingenia Lifestyle Lakeside Lara, 18km northeast of Geelong’s CBD.
“We have a large land lease business which now represents more than 45% of the Group’s $2.7 billion portfolio and delivered 39% of portfolio EBIT in FY25,” John said.
“We are accelerating our development activity, capitalising on our established pipeline and are strategically pursuing future growth opportunities beyond our five-year plan.”
Year to date, Ingenia’s development business has settled 166 homes, with a further 418 deposits and contracts on hand to support future settlements. The average home sale price across Ingenia projects is $639,400, while the average price for joint venture projects is $885,000, with gross margins remaining stable.
“Settlements this year will benefit from higher sales rates across maturing projects as we stage the release of homes to align with the delivery of facilities,” John added.
