Millennium Housing Developers has recorded an admirable performance recording a profit of Rs 146 million with an EPS of 1.09 for the year 2016/17.
“We are extremely pleased with the performance amid tough conditions; but this is a clear indicator of customer loyalty and confidence” said Jayantha Perera, Director Millennium Housing Developers PLC. We see tremendous potential in this sector and we plan to expand our revenue streams beyond developing neighbourhoods affirms Perera.
“We have already launched two apartment projects; Heights Edmonton and Heights Colombo 5 where the Edmonton project is fully sold out and will be ready for handing over by end of June 2017.” Heights Colombo 5 is 50% sold out where we have completed piling and the construction expected to commence shortly.
In addition we also have plans to develop 88 apartments at Rajagiriya, 50 in Nawala and 150 apartments in the administrative capital near the Water’s Edge for which the scenic properties have already been acquired. Considering the projects in hand, we see tremendous improvement in our cash flows and profitability in the next three years.
Looking in to the future MHDL will enter in to luxury beach villas and Luxury Holiday Homes at strategic locations in the hill country and coastal areas with high demand for apartments.
0 comments: