Good morning, everyone. Thank you for waiting. We welcome you, free parties and those of you here present with us. Director Augusto Reis, Director of Investor Relations, informed all participants that we will only listen during the presentation, and we will have a Q&A session afterward. Full declaration. We are going to the disclaimer that the only present information here are based on the information available. Future considerations are not included because they involve uncertainties and premises that depend on events that may or may not occur. Investors may understand that general may impact the results of the earning results. Now I give the floor to Mr. Augusto Reis and he is going to make a presentation.
Good morning, everybody, and thank you for your participation in our earning results conference. We are going to talk about Q3 2024 and accumulated of the first half. Before we go through the agenda of the day, we are going to focus on the focus of the company over the first nine years of the company. We continue in the consolidation agenda to the improvement of our businesses, with the specialization of ix.Santana and ix.Tatuapé, which are our main launch. ix.Santana has 31% of the physical execution completed according to our timeline. We follow with the project in line both in the physical timeline and with the making available the funding for the venture and the evolution of the project. With the idea of generating fair experience for our customer, we have our work timeline and advancing two months since the start of the venture.
Time is in line with the initial planning, but our delivery time has the expectation of anticipation in two months as well. With regard to ix.Santana , we remind you that we launched it in the fourth quarter of 2023, and we are going to start the work in three months. We are also working on strategic agenda, which regards to technical aspects of the launch, legal approvals, and monitoring the economic conditions of our sector, and trying to mitigate the risks to find the best moment for us to put our products in the market. Also, the grouping of our share, we released in October the company called the new AGE for the grouping factor. Because having the idea of the values of our share, according to BRL, [audio distortion] .
To address the population of six quarter of three, we proposed a new grouping factor that is going to be 251. On the last, November 7th, we had the assembly of the grouping. It was not installed because there was not initial quorum. The company is going to have another call for the second meeting. Beginning with the agenda of our presentation today, starting with slide three, we are going to talk about the main highlights of the period. In September, we increased our capital by BRL 460 million at compression for the submission of debt. This is one important debt for the public company of the company and the improvement of our financial indicators and risk assessment. With that, we registered a reduction of BRL 6 billion. We also registered a reduction of 6% of the fixed loss.
During the quarter, we had a reduction of 3% of the liabilities, reinforcing the cash and reducing costs in Q3 by selling a land that did not fit our launching strategy. Our SAC revenues were conducted. In the period, we had 170% higher in the first nine months of the year compared to the first nine months of 2023. Our general and administrative expenses were also reduced. Our commercial expenses were reduced by 4%. Going to slide five. When looking at the sales development in Q3, our gross sales of BRL 80 million, 317% above Q3 2023. Over the first nine months of the year, our gross sales totaled BRL 116 million, which represents an increase of 113% compared to the same period of 2023. In the accumulated of the year, we just had BRL 31 million, which is below the amount generated in the first nine months of 2023.
Our net sales totaled BRL 68 million in Q3 comparing the previous last year. This net sales represented BRL 51 million, an increase of BRL 7.79 million compared to Q3 of 2023, which was impacted by the actions and the shares actually used. Our gross revenues totaled BRL 9 million in Q3 and BRL 46 million in the first nine months of the year. Total sales got a total of BRL 6 million in Q3, which represents an increase of 180% compared to the first nine months of the year. Excluding the share, we proved to have better results in our sales in Q3. We also have 74 units and net CP of BRL 1.4 million. We passed BRL 108 million, and that is a reduction of 34% compared to the first month of 20%.
Now talking about our stock on slide six, we show our inventory of what is effectively available for sales. So what is inventory ready and also our launches. At the end of this quarter, our inventory added up to 156 units, a reduction of 29% the last quarter. This is a result of the actions that we took at the end of Q3. The composition of our inventory, 47% is referring to our due launches. 64% of this inventory is located in São Paulo, which is our main operation place. 53% are residential units. Now talking about our G&A, it has been a bit of excessive growth, which was 34% compared to. Annually, 22%, likely with service provisions and legal services. Our service is what reduced 3% in Q3 and 4% in the annual comparison.
We started this Q3 of the year our process of strategic planning for 2025 and for the next five coming years. Reminding you that as far as the process, we are trying to identify initiatives that generate value today in line with our moments in the market, aiming to strengthen our cash to have better investments in the new launch. That is fundamental for the consolidation of the company's recovery. We aim to conclude this process along November 6th so that we can start the year 2025 with our strategy defined and evaluated. On slide number nine, we see our extraconcursal debt. It increased BRL 5 million, 1% during Q3. In the accumulated of the year, it was BRL 14 million, 3%, due to the accrual of interest and the liberation of the funding for [audio distortion] .
Now going to the competitive check debt, which reduced in BRL 160 million, 12%, and is BRL 62 million in the first nine months of 2024. Why BRL 160 million during Q3 to Q4? This was pertaining to the payments needed to convert private equity share and property transfers. In total, considering that capital increases already carried out, effective creditors and actions conducted, the company has already amortized BRL 1.9 billion in commercial debt. Now going to slide 11, discussing a little bit the leveraging of the company. Adding our extraconcursal debt and costs being incurred at the end of Q3, our leverage totals BRL 1.7 billion, that is, 16% over the quarter. It is important to highlight that our commercial debt matures through 2042, and it can be amortized through payments and assets being converted into equity.
Our extraconcursal debts are simply recently gained and may be included in the judicial recovery process. On slide 12, talking a little bit about our financial results statement. We recorded the financial loss of BRL 274.2 million in Q3 2024, a big increase compared to 2023. Primarily, this is a reversal of fair value adjustment of the commercial debt that was settled through the conversion to private. In the accumulated of the first nine months of the year, we recorded financial loss of BRL 358 million, which is a reduction of 28% compared to the first nine months of 2023. This reduction in the financial loss is due to the decrease in the company's debt balance resulting from the debt recalculation in 2023. Returning to what we observed, a decrease of 22% quarter-over-quarter and 28% in the reduction year-over-year.
This impact of financial results to the interest to increase and the recalculation of [APKs] fair value adjustment. With this, I wrap up the slide here and I open for questions if you should have any.
I would like to remind you that to ask questions, you need to click on the right-hand side in the bottom of the screen on the words that say Q&A. You can also send questions directly to the department of investor relations with ri@pdg.com.br. Since we do not have any further questions, I am going to give the floor to Augusto for final considerations.
Well, thank you, Renato. Thank you, everybody, for participating here with us. I think that the key message was conveyed, especially with regard to our focus on recovering the lounging. All our attention is targeted at our sales process, conversion process. It is a very important moment for the company. We have been working for a year at this point that in line with what was planned, both financially and technically, which is very important and relevant to ensure that the company is signaling an operational recovery that is very efficient, with control, which is fundamental for this recovery process. With new focus on sales of lounges, not only of lounges, but mainly on our ready inventory that is generating cash for the company and also following the market expectations, economic expectations, and the expectations of the market as a whole.
That is very important for the sector and for us. Thank you very much and see you soon.
The PDG conference is concluded, and have you all a great day. Thank you very much.