Construtora Tenda S.A, founded in Minas Gerais in 1969 and headquartered in São Paulo, is a company that operates in the national construction segment. It has over 51 years of history and just over 100 units built. Currently, Tenda is considered one of the largest companies operating in construction and real estate development in the country.
The company's main focus is directed towards income brackets 1.5 and 2 of the program aimed at low-middle-class families, the Minha Casa Minha Vida. Thus, sales processes are only initiated after the company receives approval and classification from the Minha Casa Minha Vida Program.
One of the standout criteria of the company is to provide only properties that fit the financial situation of the clients, in addition to assisting them in obtaining financial approval for each category of properties that the company has.
Currently, Construtora Tenda has more than 40 stores, spread across over 100 cities, operating in 11 states and the Federal District. Tenda is listed on the Brazilian Stock Exchange under the ticker TEND3. According to Tenda's shares, the company is classified as: Sector classification: cyclical consumption / civil construction / real estate development.
The company focuses on quality affordable housing, being one of the main developers and builders in Brazil. The families served by the company have a gross family income of up to R$ 4,000.
In addition, the current business model followed by the company was implemented in 2013 and follows these definitions:
Contracted launch – where the company only makes the developments available when they are properly classified and approved by the Minha Casa Minha Vida Program.
Transferred sale – the company provides support to all clients so that they can obtain approval from the bank for the client and, consequently, for the property;
Standardized construction method – the company uses concrete walls and aluminum forms in the construction of developments, aiming to expedite the production processes;
Sale in own stores – the developments are sold through the company's own stores, where Tenda can reinforce the brand and ensure that the purchasing experience is the best possible.
Construtora Tenda has developments in the states of Ceará, Bahia, Paraná, Minas Gerais, Pernambuco, Rio Grande do Sul, São Paulo, and Rio de Janeiro, totaling 8 metropolitan regions.
Only in 2019, the company totaled R$ 1.9 billion in launches and, as a result, became the third largest listed construction company on B3. Additionally, Construtora Tenda has only common shares listed on the stock exchange, meaning those shares that grant voting rights at the company's meetings.
The history of Construtora Tenda began in 1993, in the city of Belo Horizonte, in Minas Gerais, when the company was still known as Tenda Engenharia S.A. Although it was founded in 1993, the company's shares only began trading the following year, in 1994.
In 1999, the company began its expansion process and established itself in the metropolitan region of São Paulo. By 2006, also as part of its growth processes, Construtora Tenda began operations in Rio de Janeiro and, the following year, expanded its business to Salvador, Porto Alegre, Goiânia, Brasília, and Vitória.
The initial public offering on the Brazilian Stock Exchange for Construtora Tenda occurred in 2007, under the ticker TEND3. With the IPO, the company made a profit of R$ 603 million. The following year, Tenda came under the control of Gafisa, which acquired 60% of the company's shares.
In 2009, Gafisa began fully subsidizing Construtora Tenda, and as a result, the shares of the construction and development company ceased to be traded on B3. In the same year, the Minha Casa Minha Vida Program was launched and became the main focus of Construtora Tenda.
With Gafisa being the main subsidiary of Construtora Tenda, the company had to formulate a business plan for new expansion strategies to be created.
Thus, Gafisa redefined the strategic positioning of the company and created a new business model, which began to be incorporated from 2013 onwards. Additionally, the construction company began to operate fully within the Minha Casa Minha Vida Program.
