Kelsey Homes records strong performance in First Quarter of 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, in spite of operational difficulties stemming from the pandemic situation, the Company successfully completed the sale of housing units of both phase 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 the phase III of the project, while also focusing efforts on 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 in a timely manner,” said Lalinda Kalubowila, Chief Executive Officer of Kelsey Developments PLC.

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.

About Kelsey Developments PLC:

Kelsey Developments PLC is a member of the Janashakthi Group and the premier housing developer in Sri Lanka. With a rich heritage of over 35 years and a portfolio exceeding 200 real estate and housing projects it has created over 2000+ satisfied customers. Kelsey Homes is an industry pioneer that has delivered an array of living solutions and exclusive developments.

Established in 1983, the company is a truly trusted developer known for delivering on its promises. The company is also dedicated to providing customers with high quality, beautifully designed homes within a gated environment and 24-hour security. E.g.: TEMPLER’S SQUARE, Mount Lavinia. This is a highly successful project completed by Kelsey Homes, and it comprises of an exclusive gated housing development of 100 houses. These elegant homes set on six acres of prime land have had unprecedented value appreciation in the succeeding years.

Further the most recent project CENTRAL PARK JA-ELA launched in 2020 has witnessed tremendous success in a short span of time. This gated development is located in one of the most central locations in the country. The property is spread across 15 acres of land and consists of over 350 housing units and 40+ Amenities. As a reflection of the company’s confidence and commitment, all units include a 12-month defects liability period and a 10-year structural warranty for houses.

The Kelsey Developments PLC Board of Directors comprises of Eardley Perera – Chairman, Dinesh Schaffter, Ramesh Schaffter, Prakash Schaffter, Chandana de Silva, Roshni Fernando, ACM Gagan Bulathsinghala and Arul Sivagananathan.

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