Kelsey Homes recorded a revenue of Rs 320.51 million for the quarter ended March 31, 2021 compared to Rs 32.50 million (mn) in the corresponding period of the previous year.
Revenue for the year under review was recorded as Rs.934.16 mn compared to Rs. 377.2 mn recorded last year during the same period under review resulting in a growth of 148%. The developer secured reservations with an expected sales value of Rs 3.13 billion (Bn) as of March 31, 2021 compared to Rs.1 Bn as of March 31, 2020, showing a substantial growth. It also reported a consolidated profit after tax of Rs 100.29 mn for the year compared to a loss after tax of Rs 229.73 mn in the previous year.
Meanwhile, the Company’s financial position remained strong with total assets of Rs 782.8 mn and Equity in excess of Rs 271.7 mn while net assets per share increased from Rs 14.39 to Rs. 14.64 in the last 12 months. Total assets of the Kelsey Developments PLC Group as of March 31, 2021 is Rs. 2.6 Bn and it reflects a steady growth compared to the total assets as of March 31, 2020 amounting to Rs. 2.4 bn.
“In February we embarked on developing a 350 unit mixed housing project, Central Park Ja-Ela, despite the challenges faced due to the COVID–19 pandemic. We will continue to cater to the evolving consumer by coupling innovation with affordable yet luxurious living solutions; in environments that are conducive to good living. These prudent business measures allow us to continue our growth momentum, despite trying and challenging times,” said Eardley Perera, Chairman of Kelsey Developments PLC.
The gated property is spread across 15 acres of land in Ja-Ela.
“The significant demand we are seeing from customers is a true testament to the confidence in the company and its leading position in the Sri Lankan real estate market. I am confident that more people will continue to see housing and property as the most stable investment proposition, especially in these uncertain times. Over the last few decades, we have established ourselves as the frontrunners for gated housing developers, and in the next year, we aim to solidify that position, increase our market share, and continue to provide excellent customer service,” said Lalinda Kalubowila, Chief Executive Officer of Kelsey Developments.
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