Kelsey Developments PLC (Kelsey Homes) reported Rs.149.92 million in revenue for the nine months ended 31 December 2021.
Interest in units in the Central Park, Ja-Ela and Urban Gateway, Kottawa projects helped Kelsey Homes secure total reservations with an expected sales value of Rs. 4.66 billion, as of 31 December 2021 with the revenues set to be recognised in the coming months with project progress.
While the pandemic had a significant impact on business operations through 2020 and 2021, Kelsey Homes concluded the sales of all units of Central Park, Ja-Ela Phase I and II in financial year (FY) 2020-21 and is now on the verge of completing the sale of all units in Phase III of the project. The company had acquired an 82-perch prime property in Nugegoda, a neighbourhood that has high market value and demand, to begin construction of an iconic 100-unit apartment complex during 2022. Holding inventories to the tune of Rs. 2.06 billion in estimated sale value, as of 31 December 2021, the developer is currently focusing its efforts on the sales of its existing projects while actively seeking out other properties for future developments.
Kelsey Developments PLC is a member of the Janashakthi Group and a housing developer in Sri Lanka.
Kelsey Homes records Rs. 150 mn revenue
31 Mar 2022
Kelsey Homes records Rs. 150 mn revenue
31 Mar 2022