Kelsey Homes records strong performance in First Quarter of 2021

On Aug 30, 2021

Kelsey Developments PLC illustrated its spirit of endurance recording LKR 50 Mn in revenue for the first quarter of the financial year 2021-22. The Company secured cumulative reservations for an expected sales value of LKR. 3,212 Mn as of 30th June 2021, which will be recognized in the following months.

“Our team consistently strived to pursue growth targets while ensuring the safety and wellbeing of all involved. This was not an easy task, yet we succeeded in continuing business operations to achieve sustained growth, in the interest of all our stakeholders. We are confident the country will overcome all challenges and our advantageous position as a member of Janashakthi Group, will strengthen our ability to continue our growth momentum,” commented Eardley Perera, Chairman of Kelsey Developments PLC.

Kelsey Homes’ sales reservations for the period were driven by the projects Central Park Ja-Ela, Verdant Villas Negombo, Urban Gateway Kottawa, and Urban Heights Wattala. Meanwhile, despite operational difficulties stemming from the pandemic situation, the Company completed the sale of housing units of both phases I & II of the Central Park-Ja-Ela project in 2020/2021. At present, the company is successfully carrying out the sale of housing units of phase III of the project, while also focusing efforts on the sale of other ongoing projects.

The sales value of existing inventories is LKR.2.94 Bn. Furthermore, the company has entered into a Sales and purchase agreement to acquire a property in Nugegoda and intends to launch a residential apartment project in the coming months.

“With an insight-driven strategy to create value for all stakeholders, we crafted our strategy to meet the current demand for housing in the country. We are aware that the volatile economic environment amidst the pandemic requires a prudent and time-sensitive approach to operations and will continue to focus our efforts on meeting prevalent challenges on time,” said Kelsey Developments PLC Chief Executive Officer Lalinda Kalubowila.

Kelsey Homes owns a legacy spanning over 35 years with 200 completed projects and over 2,000 happy homeowners.

The Company is known for creating luxurious living spaces that raise the bar in modern living. The company is geared to seek lasting growth through adopting prudent strategies to fuel ongoing and future projects, innovation and drawing strength from the parent company, Janashakthi Group.