Kelsey Homes Archives

April 19, 2022

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Kelsey Developments PLC’s (Kelsey Homes) robust fundamentals and strategic investments together with the company’s deep ties with its customers and business partners enabled the pioneering real estate developer to tide over challenging market conditions and register modest yet steady revenue growth during the third quarter of FY 2021 – 22.

Sustained interest in units in CENTRAL PARK JA-ELA and URBAN GATEWAY KOTTAWA projects helped Kelsey Homes secure total reservations with an expected sales value of LKR. 4.66 Bn, as of 31^st December 2021 with the revenues set to be recognized in the coming months with project progress. The company reported LKR. 149.92 million in revenue for the 9 months ended 31^st December 2021

“Kelsey Homes has established itself as a trusted pioneer offering distinct, premium properties that provide exceptional value to customers. We strive to empower more Sri Lankans here and overseas to reap the benefits of investing in real estate through our portfolio of ultra-modern living spaces that come with the finest amenities and a world of benefits. This in turn has enabled us to deliver steady returns to our investors while continuing to add value to all other stakeholders,” said Eardley Perera, Chairman of Kelsey Developments PLC.

“Despite challenging global and local economic conditions and prevailing uncertainties, we have faith in the growth potential of Sri Lanka’s real estate sector. We look forward to working more closely with our business partners including banks, contractors and suppliers to see how we can collectively provide better living environments for Sri Lankans support their aspirations in these trying times.”

While the pandemic had a significant impact on business operations through 2020 and 2021, Kelsey Homes successfully concluded the sales of all units of CENTRAL PARK JA-ELA Phase I and II in 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 LKR. 2.06 Bn in estimated sale value, as of 31^st 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.

“Our record of delivering high-quality living spaces that also serve as great investment vehicles for over 35 years has helped us emerge as one of the nation’s preferred real estate developers. Our commitment to delivering highly valuable, premier living spaces is reflected in the multitude of recognitions we received at the recent PropertyGuru Asia Property Awards (Sri Lanka) where we bagged the Best Lifestyle Developer in Sri Lanka and the Best Architectural design in Sri Lanka awards for Central Park, Ja Ela as well as commendations in the Best Condo Development (Colombo Metropolitan Region) and Best Housing Development (Colombo). This has enabled us to maintain our sales and revenue growth despite prevailing market conditions. We are seeing steady demand from a growing segment of prospective homeowners who appreciate the value offered by our affordable housing units like Central Park which are high on features and amenities. Encouraged by the response, we look forward to offering more units of this kind to enable more Sri Lankans to realise their dream of owning a home,” said Lalinda Kalubowila, Chief Executive Officer of Kelsey Developments PLC.

Kelsey Homes has a rich legacy of shaping the country’s residential property landscape for over 35 years with over 200 real estate and housing projects and more than 2,000 highly satisfied customers. The Company has grown into one of the country’s most trusted premier developers, renowned for beautifully designed, high-quality homes delivered within expectations. Its focus on quality and innovation, astute management of its resources and operations and strategic investments together with the strength of its parent company, Janashakthi Group; give it the firm footing required to drive sustained growth in a post-COVID-19 world.

February 3, 2022

Veteran corporate leader Roshanie Jayasundera Moraes joined the Board of Directors of Kelsey Developments PLC, a member of the Janashakthi Group, as an Independent Non-Executive Director, with effect from 10^th January 2022.

A Fellow of the Chartered Institute of Marketing (CIM), UK, Roshanie holds a Master of Business Administration from the Postgraduate Institute of Management (PIM), University of Sri Jayewardenepura.

She brings with her close to 4 decades of experience in the corporate sector. She has held leadership positions in some of the country’s leading enterprises in the travel and tourism, airline representation, loyalty, quick service restaurants, retail, and property development sectors.

Having worked at Browns Tours and Aitken Spence for a brief period, Roshanie joined Sri Lanka’s premier blue-chip company John Keells Holdings in 1991. She served in 3 of the Group’s key sectors – Transportation, Retail and Property Development – and went on to hold the position of Executive Vice President of John Keells Holdings until her retirement in December 2021.

Commenting on Roshanie’s appointment, Eardley Perera, Chairman, Kelsey Developments PLC, said, “I am delighted to welcome Roshanie J Moraes to Kelsey Developments PLC’s Board of Directors. She joins us at a time when we are gearing up to build on our consistently strong performance and drive exponential growth. Given her domain expertise as well as extensive experience in a diverse set of sectors, I look forward to seeing her offer wise counsel to the team and accelerate our progress towards our goals.”

“I am indeed honoured to be invited to join the board of Kelsey, a company I have watched over the years and a company that’s making great strides in the industry. I look forward to working with the highly talented team in the company and the senior professionals on the board,” said Roshanie J Moraes.

The appointment is part of Kelsey Developments’ strategic efforts to strengthen its Board of Directors with a diverse mix of business captains from a wide range of sectors. With this, the Board of Directors of Kelsey Developments PLC now comprises of Eardley Perera – Chairman, Prakash Schaffter, Prof Chitra Weddikkara, Roshni Fernando, Roshanie J Moraes, ACM Gagan Bulathsinghala and Arul Sivagananathan. Their wealth of experience from across a variety of industries together with the strong fundamentals of the parent company, the Janashakthi Group, offer Kelsey Developments a solid foundation to springboard off to greater heights.

December 31, 2021

Sri Lanka’s premier housing developer, Kelsey Homes was recognised at the prestigious Asia Property Awards 2021 (Sri Lanka) recently. Kelsey Homes was awarded with the Best Lifestyle Developer, Best Architectural Design and Highly Commended Housing Development for its Central Park Ja-Ela project. Furthermore, Kelsey Homes was awarded Highly Commended Condo Development for its Urban Gateway- Kottawa project. This achievement was all the greater as the company were amongst leading regional housing giants at the Awards organised by the PropertyGuru Group, underscoring its trusted credentials in the housing market.

Commenting further on the latest accolade, Lalinda Kalubowila, Chief Executive Officer of Kelsey Developments PLC said, “Winning this recognition at the Asia Property Awards 2021 is a very proud moment for us! Kelsey Homes has yet again cemented its position as the premier housing developer in Sri Lanka. We are a modern and agile company with a wealth of experience spanning 35 years, which gives us key insights into the ever-evolving customer needs. The award for Best lifestyle developer is nothing but clear proof of our claim. Our latest project – Central Park Ja-Ela – winning the award for ‘Best architectural design’ was indeed a great moment for us and for our valued customers who will form its community. This iconic project is going to change the landscape of modern housing development in Sri Lanka, with 80% of the housing units already sold.”

As the pioneer in Sri Lanka’s housing and real estate market, Kelsey Homes’ reputation and success are built on a clear strategy that focuses on servicing the residential housing market. Central Park Ja-Ela is a gated property spread across 15 acres of land situated in one of the most central locations in the country as it is 5 minutes away from the Colombo-Katunayake Expressway, 20 minutes to Katunayake and 30 minutes to Port City. The first and second phases of the project witnessed immense success, selling over 200 housing and apartment units within just a short period. All apartments in the first phase were sold out within 30 days from the launch date – an incredible feat, especially amidst the COVID-19 pandemic. All modern conveniences required for a comfortable, hassle-free life are available within the premises with 24-hour security. Some of these include a mini market, cafe, bookshop, ATM facility, bill paying facility, salon, medical centre, day care centre, laundry service, auto charging station & washing bay. For the health-conscious, Central park Ja-Ela offers an outdoor gymnasium, swimming pool, fully-equipped indoor gymnasium, jogging track, basketball court, yoga centre and a wellness centre.

The company has become the hallmark of high-quality community living in Sri Lanka due to its signature architectural design, functional use of space and high-quality amenities. Each one of the 200+ Kelsey Homes projects have been carefully designed to create a safe and ergonomic environment where communities can flourish. Kelsey’s ambition is to bring world-class architecture to Sri Lanka for a modern lifestyle, backed by its decades of expertise.

December 20, 2021

Sri Lanka’s leading private sector bank, HNB PLC, announced an exclusive partnership with renowned property developer Kelsey Homes to offer prospective homebuyers special interest rates and attractive benefits for home loans.

The partnership will offer customers exciting rates and customized payment plans to provide aspiring homeowners with Home Loans for purchase of Homes at central park-JaEla.

“Given that the demand for real estate has increased over the years as an investment opportunity, we are delighted to announce this partnership with Kelsey Homes for our loyal customer base. We believe many will make use of this unique opportunity to obtain the home of their dreams,” HNB Head of Personal Financial Services Kanchana Karunagama said.

The bank will offer prospective homeowners flexible repayment options, such as the Step-up facility, which ensures a repayment option in line with the customers increasing income. Customers can also obtain a maximum repayment period of 25 years for the loan facility for an attractive interest payment. Also a flexible repayment plans to suit the customers’ income pattern & 50% residual option are also available for the potential customers.

Notably, HNB will offer customers a five-year grace period for the capital payment of their mortgage, in addition to a seamless loan approval process supported by its state-of-the-art backend systems.

“Partnerships of this nature offer us the opportunity to provide prospective homeowners with access to our portfolio of properties. As such, we are delighted to be working with HNB during this festive season and look forward to providing our customers with attractive packages and discounts, personalized to their needs,” Kelsey Homes Chief Executive Officer Lalinda Kalubowila said.

The iconic gated residential project, CENTRAL PARK JA-ELA is one of the largest gated mixed-housing projects in Sri Lanka and was recently awarded the Best Housing Architectural Design Award by Asia Property Awards 2021 (Sri Lanka) for its excellence in architectural design. Offering 350+ residential units and 40+ Amenities, CENTRAL PARK JA-ELA offers customers the option of choosing between townhouses, individual houses, cluster houses and apartments.

Further information regarding the offer can be obtained from HNB customer Centre’s on 011-2462462 and Kelsey Homes on + 94 11 2709709.

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.

With 254 customer centres across the country, HNB is one of Sri Lanka’s largest, most technologically innovative banks, having won local and global recognition for its efforts to drive forward a new paradigm in digital banking. Consolidating its reputation for banking excellence, HNB bagged the Best Retail Bank and Best SME Bank awards in the Banking category at the International Finance Awards 2021. The bank was also ranked among the World Top 1,000 Banks list compiled by the prestigious UK-based Banker Magazine for five consecutive years. HNB was also declared Best Sub-Custodian Bank in Sri Lanka at the Global Finance Awards 2020. HNB has a national rating of AA- (lka) by Fitch Ratings (Lanka) Ltd. (10).

November 30, 2021

Colombo, 30^th November 2021: The pioneering real estate developer secured reservations with an expected sales value of LKR. 4,187 Mn as of 30^th September 2021, with the revenues set to be recognized over the project period. This was a result of strong demand for units in the Company’s CENTRAL PARK JA-ELA and URBAN GATEWAY, KOTTAWA projects. Kelsey Homes was also holding inventories with a sale value of LKR.Rs.2,266 Mn, as of 30^th September 2021. Kelsey Developments PLC continued to persevere through challenging market conditions to conclude the 6 months ending 30^th September 2021.

“At Kelsey Homes, we have always seen great potential in Sri Lanka’s real estate sector. As one of the country’s most trusted premier housing developers, we are strategically poised to take the benefits of investing in property to more investors and homeowners across the country and create sustained value for our customers, team members and investors, alike. We will continue to scale our business further; we seek to leverage the power of our impeccable project portfolio and strong fundamentals as a member of the Janashakthi Group to play an active role in supporting post-COVID economic recovery,” said Eardley Perera, Chairman of Kelsey Developments PLC. “

Having successfully sold all units of CENTRAL PARK JA-ELA Phase I and II during FY 2020-21 despite the impact of the pandemic on business operations, Kelsey Homes is now seeing steady pick up in sales in Phase III of the project. The Company is further set to embark on the construction of an iconic 100-unit apartment complex in a prime property in the highly sought-after neighbourhood of Nugegoda. Kelsey Homes continues to focus its efforts on selling all remaining units in its existing projects while actively looking out for suitable properties for future developments as well.

“Our commitment to delivering greater value to all our stakeholders has been instrumental in helping us sustain our growth momentum. We have always strived to address the nation’s housing challenges and meet the needs of emerging segments of prospective homeowners. As part of these efforts, we have rolled out a host of new projects that offer high-quality housing with unparalleled features and amenities to Sri Lanka’s growing base of aspiring homeowners. We believe that ventures like CENTRAL PARK will play an increasing role in driving our growth in the years to come,” said Lalinda Kalubowila, Chief Executive Officer of Kelsey Developments PLC.

September 6, 2021

Colombo, Sri Lanka – September 06, 2021

Kelsey Developments PLC, a member of the Janashakthi Group and the pioneering real estate developer in Sri Lanka announced the appointment of industry veteran Prof. Chitra Weddikkara as an Independent Non-Executive Director of the organization with effect from 2^nd September 2021.

Prof. Chitra Weddikkara has the unique distinction of being a Chartered Architect, Chartered Quantity Surveyor and Project Manager, Adjudicator and counts well over 30 years of experience in the design and the construction industry both in Sri Lanka and overseas. She has a Class A registration from the Engineers and Engineering Offices Accrediting Committee of the Ministry of Municipality and Urban Planning, Qatar.

Her work experience includes several key academic roles in Sri Lanka and overseas in addition to her directorships and advisory positions for multiple committees in the Government of Sri Lanka. She is currently the Chairperson of Qserve group of companies that carries out consultancies in cost monitoring and management of buildings, contract administration, construction audits and project management.

“It is my great pleasure to welcome Prof. Chitra Weddikkara to the Board of Kelsey Developments PLC at this evolving time for the organisation with our renewed strategy for exponential growth as a member of Janashakthi Group. With the organisation’s thrust into the national housing development business her unique expertise and experience in the industry for over three decades which will help us evolve our strategy to better serve our customers and communities” said Eardley Perera, Chairman of Kelsey Developments PLC.

“I’m excited to join a pioneering organization that is revolutionizing the real estate industry in Sri Lanka. I look forward to contributing to the growth and success of Kelsey Homes as the company continues to cater to the rising demand for residential developments with high quality housing solutions”, said Prof. Chitra Weddikkara, Independent Non-Executive Director of Kelsey Developments PLC.

As the pioneer in Sri Lanka’s housing and real estate market, Kelsey Homes’ reputation and success are built on a clear strategy that focuses on servicing the residential housing market. This is also an evolving and exciting period for the organisation as a result of the exponential growth strategies to further strengthen the Group companies; First Capital, Janashakthi Life, Orient Finance and Kelsey Homes as Janashakthi Group. Being a stakeholder in the local housing market for over 35 years, the Company has been credited with setting in motion the paradigm shift that has transformed residential housing into what it is today. These initiatives further strengthen the business strategies of Kelsey Homes to drive business growth and serve all aspiring homeowners.

With the latest appointment, the Kelsey Developments PLC Board of Directors comprises of Eardley Perera – Chairman, Prakash Schaffter, Roshni Fernando, ACM Gagan Bulathsinghala, Arul Sivagananathan and Prof. Chitra Weddikkara.

August 27, 2021

Colombo, 27^th August 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 30^th 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.

August 4, 2021

CENTRAL PARK JA-ELA – Model house open for aspiring home owners

Central Park Ja-Ela by Kelsey Homes

Gated Development consisting of housing units and Apartments with 40+ Amenities.
Model house ready for inspection for aspiring homeowners
Over 70% sold
Houses priced from Rs.16.9Mn upwards
Ja-Ela is Central to Everything.
Live Modernity in Nature…

Kelsey Homes, Sri Lanka’s pioneering real estate developer, is now set to launch Phase Three of the iconic gated residential project, CENTRAL PARK JA-ELA, following the successful completion of Phases One and Two. Offering 350+ residential units and 40+ Amenities, CENTRAL PARK JA-ELA is one of the largest gated mixed-housing projects in Sri Lanka.

The unprecedented success of Phases One and Two at CENTRAL PARK JA-ELA, with over 70% sold within a record time amidst the COVID-19 pandemic, is an incredible achievement.

Central to everything, CENTRAL PARK JA-ELA is in close proximity to leading schools, hospitals, banks and supermarkets and just minutes away from the Colombo city (30 minutes), Katunayake Airport (20 minutes) and the upcoming ‘Port City’ via the Port Access Elevated Highway (30 minutes). With convenient ease of access to the Colombo-Katunayake Expressway and 500m to the Colombo-Negombo main road CENTRAL PARK JA-ELA is seen as a unique value for money proposition. Furthermore, the appreciation of the property by over 20% within 12 months of the launch, has made it highly lucrative as an investment to buyers.

Commenting on the success of the project, Chairman of Kelsey Development PLC, Eardley Perera stated, “CENTRAL PARK JA-ELA is one of the largest gated, mixed residential projects in Sri Lanka and we are thankful to our buyers for the trust and confidence placed in us, even during these most challenging of times. Kelsey Homes have been a key stakeholder and leader in the local housing market for over 35 years and we pride ourselves in maintaining an outstanding track record of building iconic, quality residential facilities that blend luxury with affordability for our many satisfied customers.”

With the launch of Phase Three, CENTRAL PARK JA-ELA is now able to showcase a model house for the public to experience their future. Kelsey offers spaciously curated two-, three- and four-bedroom housing units priced from Rs 16. 9 million.

Sprawled across 15 acres of lush greenery in Ja-Ela, CENTRAL PARK provides luxury living spaces interspersed with an array of unparalleled services, utilities, and modern conveniences for comfortable, hassle-free living; including 24-hour security, CCTV surveillance, a mini-market, ATM facility, salon, business centre, medical centre, day-care centre, laundry service, driver’s and maid’s quarters, vehicle charging station and washing bay.

Keep active at the comfort of the home environment with the outdoor and indoor gymnasium, swimming pool, basketball court, jogging track, yoga and wellness centre or, entertain guests in a variety of settings; be it the roof terrace area, outdoor BBQ area, open function hall, pavilion or club house. The children can also have endless fun at the specially designed kid’s indoor play area, kiddies pool and outdoor play zone.

“We’ve created an extraordinary gated residential facility at CENTRAL PARK JA-ELA and the demand for it has been unprecedented since day one. CENTRAL PARK JA-ELA is the perfect balance between embracing modernity while living amidst nature and, we are excited to launch Phase Three of the project and help aspiring homeowners find their perfect home with us. Backed by the strength of our parent company, Janashakthi Group, we are well poised for sustained growth as we forge ahead and continue to transform the real estate industry to better serve our customers and communities” comments Chief Executive Officer of Kelsey Developments PLC, Lalinda Kalubowila.

Visit CENTRAL PARK JA-ELA, from the comfort of your home on https://www.kelsey.lk/central-park and call on 0770773773 to plan your visit to the site.

July 20, 2021

Colombo, Sri Lanka – July 20, 2021

Kelsey Developments PLC, a member of the Janashakthi Group and the pioneering real estate developer in Sri Lanka announced the appointments of two new board members, Air Chief Marshall (ACM) Gagan Bulathsinghala and Mr. Arul Sivagananathan with effect from 16^th July 2021.

As the pioneer in Sri Lanka’s housing and real estate market, Kelsey Homes’ reputation and success are built on a clear strategy that focuses on servicing the residential housing market. This is also an evolving and exciting period for the organization as a result of the exponential growth strategies to further strengthen the Group companies; First Capital, Janashakthi Life, Orient Finance and Kelsey Homes as Janashakthi Group. Being a stakeholder in the local housing market for over 35 years, the Company has been credited with setting in motion the paradigm shift that has transformed residential housing into what it is today. These initiatives further strengthen the business strategies of Kelsey Homes to drive business growth and serve all aspiring homeowners.

“We are pleased to welcome ACM Bulathsinghala and Mr. Sivagananathan to the Board of Kelsey Developments PLC, at this important time of our organization’s thrust in to the national housing construction business,” said Mr. Eardley Perera, Chairman of Kelsey Developments PLC. “They both bring extensive leadership experience and expertise, to help drive transformation through effective strategic planning and execution. The addition of these directors complements the current skills and experience of our Board. We are confident they will provide valuable perspectives as we continue to transform the real estate industry to better serve our customers and communities, while keeping in mind the need to enhance value for all our stakeholders”, he concluded.

ACM Gagan Bulathsinghala is a graduate of the Air Command and Staff College at Air University (United States Air Force) Alabama, USA and the prestigious National Defence College (India) New Delhi. In addition, he possesses Post graduate degrees, Master of Philosophy in Defence and Strategic Studies from University of Madras India and Master of Science in Defence Studies in Management from General Sir John Kothalawala Defence University, Sri Lanka. He is a Fellow of the Asia-Pacific Center for Security Studies, Hawaii, the Near East South Asia Center for Strategic Studies and National Defence University, USA.

He was appointed as the Commander of the Sri Lanka Air Force in 2015 and was promoted to the rank of Air Marshal. He was subsequently promoted to the rank of Air Chief Marshal from 12th September 2016. He was the former Sri Lanka Ambassador to Afghanistan.

Mr. Arul Sivagananathan holds a BSc Engineering degree from the University of London, UK and an MBA from Cranfield University, UK. He is a Fellow Member of the Chartered Institute of Management Accountants, UK.

Mr. Sivagananathan was appointed to Hayleys Group Management Committee (GMC) as the Managing Director of Hayleys Business Solutions and Hayleys Industrial Solutions. He was instrumental in winning large BPO deals for his organization. He has a rare combination of being an Engineer and an Accountant. Former Senior Vice President of WNS, A NYSE listed BPO. He headed the operations for Finance and Accounting across India and Sri Lanka and managed over 2,000 accounting professionals. He is also a part time lecturer at the PIM.

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

June 16, 2021

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Colombo, Sri Lanka – June 16^th 2021 –

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 31^st March 2021 compared to Rs.1 Bn as of 31^st 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 31^st March 2021 is Rs. 2.6 Bn and it reflects a steady growth compared to the total assets as of 31^st March 2020 amounting to Rs. 2.4 Bn.

“This year we embarked on developing one of the largest gated, mixed housing projects in Sri Lanka – CENTRAL PARK JA-ELA, despite the challenges faced due to the COVID–19 pandemic. We will continue to cater to the evolving consumer by coupling innovation with affordable yet luxurious living solutions; in environments that are conducing to good living. We have an outstanding track record when it comes to building iconic, good quality houses and apartments as gated developments and we aspire to offer our valued customers unparalleled standards of quality and noteworthy after-sales support. These prudent business measures allow us to continue our growth momentum, despite trying and challenging times,” said Eardley Perera, Chairman of Kelsey Developments PLC.

As the pioneer in Sri Lanka’s housing and real estate market, Kelsey Homes’ reputation and success are built on a clear strategy that focuses on servicing the residential housing market. Being a stakeholder in the local housing market for over 35 years, the Company has been credited with setting in motion the paradigm shift that has transformed residential housing into what it is today.

The groundbreaking ceremony of its latest project CENTRAL PARK JA-ELA took place in February this year. The gated property is spread across 15 acres of land in Ja-Ela and is located in one of the most central locations in the country. The development offers over 350 beautifully crafted living spaces. The first and second phases of the project witnessed immense success, selling over 200 housing and apartment units within just a short period. All apartments in the first phase were sold out within 30 days from the launch date – an incredible feat, especially amidst the COVID-19 pandemic.

“The significant demand we are seeing from customers is a true testament to the confidence in the company and its leading position in the Sri Lankan real estate market. I am confident that more people will continue to see housing and property as the most stable investment proposition, especially in these uncertain times. Over the last few decades, we have established ourselves as the frontrunners for gated housing developers, and in the next year, we aim to solidify that position, increase our market share, and continue to provide excellent customer service. Furthermore, being a member of the Janashakthi Group gives us the opportunity to access expertise across the group and utilize combined strengths for sustained growth,” said Lalinda Kalubowila, Chief Executive Officer of Kelsey Developments PLC.

The Company has become the hallmark of high-quality community living in Sri Lanka due to its signature architectural design and functional use of space and high-quality amenities. Each one of the more than 200 Kelsey Homes projects has been carefully designed to create a safe and ergonomic environment where communities can flourish.

Kelsey Homes’ value proposition demonstrates its deep conviction to support the creation of fully-fledged communities. It recently sold out all 88 of its 40-perch plots of VERDANT VILLAS, the élite housing development spanning across 26 acres of lush land in Negombo.

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Roshanie J Moraes Joins Kelsey Homes Board

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Kelsey Homes records steady growth in spite of COVID – 19 related challenges