Kelsey Homes records revenue of over Rs. 320mn

Kelsey Homes, the pioneering real estate developer in Sri Lanka, recorded a revenue of LKR 320.51 Mn for the quarter ended 31 March 2021 compared to LKR 32.50 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 LKR 3.13 Bn as of 31st March 2021 compared to Rs.1 Bn as of 31st March 2020, showing a substantial growth. It also reported a consolidated profit after tax of LKR 100.29 Mn for the year compared to a loss after tax of LKR 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 31st March 2021 is Rs. 2.6 Bn and it reflects a steady growth compared to the total assets as of 31st March 2020 amounting to Rs. 2.4 Bn.