Vinte Expands into Northwestern Mexico with Derex Acquisition, Reports Strong Q3 Growth
TL;DR
Vinte's acquisition of Derex provides geographic expansion into high-growth Mexican markets, strengthening its competitive position for nationwide housing leadership.
Vinte acquired Derex to expand into northwestern Mexico markets, reporting 17.5% revenue growth and maintaining 2.78x net leverage while delivering 3,967 homes in Q3.
Vinte's expansion and green-certified housing strategy provides affordable, energy-efficient homes to underserved regions, improving living conditions across Mexico.
Vinte now leads Mexico's green housing with over 23,000 EDGE certified homes, reducing utility costs for homeowners while accessing cheaper ESG capital.
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Vinte Viviendas Integrales (BMV: VINTE) has announced the acquisition of Derex, a prominent developer of sustainable housing communities in northwestern Mexico, marking a significant geographic expansion for the company. This transaction enables VINTE to enter high-growth markets including Tijuana, Hermosillo, Nogales, and Mexicali, strengthening the company's presence in underserved regions and supporting its goal of nationwide housing leadership. Derex brings a 26-year track record with over 23,000 homes delivered and currently operates four active developments with an average home price of MXN 870,000.
The company reported strong third-quarter financial results, with total revenue reaching MXN 4.12 billion, representing a 17.5% year-over-year increase on a pro forma basis that includes Javer. Average selling price increased 15.5% to MXN 1.03 million, while EBITDA grew 22.3% year-over-year to MXN 773.9 million, achieving an 18.8% margin. Net income showed robust growth, rising 28.3% year-over-year, with management highlighting continued synergy capture from the Javer integration and positive operating cash generation of approximately MXN 207 million in the third quarter.
VINTE titled 3,967 homes in the third quarter, up 4.5% on a pro forma basis, with mortgage funding sources remaining stable through the first nine months of 2025. Infonavit continues as the largest funding channel, while Unamos Créditos serves as a meaningful contributor alongside banks and Fovissste, reflecting the platform's diversified financing mix. The company's geographic and price-point diversification has further supported flexibility across markets and segments, positioning VINTE to capitalize on structural housing undersupply and rising household formation.
Environmental, social, and governance initiatives remain a cornerstone of VINTE's strategy, with the company maintaining its position as Mexico's leader in green-certified housing. The company now has over 23,112 EDGE certified homes, with 25.2% achieving EDGE Advanced certification, up from 20,723 EDGE certified homes at the end of 2024. This certification demonstrates enhanced home efficiency, translating into lower utility bills for homeowners and access to green bond financing for VINTE. The company has issued eight labeled bonds totaling MXN 6.4 billion, creating a capital structure that underpins access to cheaper ESG capital.
Management reiterated its 2025 guidance of 15,000 home deliveries, including Javer, with continued emphasis on digital platforms such as Xante, iVentas, and Emobel to drive efficiency and improve customer experience. The company continues to gain market share in the affordable and middle-income segments, well-positioned to benefit from structural housing undersupply and ESG capital inflows. The recent acquisitions present additional opportunity for growth, as historically, Javer and Derex did not certify homes, leaving VINTE with a significant portion of its portfolio that can be certified with relative ease, further improving capital costs and transaction value.
Curated from Reportable
