Andy Hill, group chief executive officer, said a steady performance last year, which saw it maintain record profit of £66m from revenue down 5% at £716m, positioned Hill to pursue further strategic investments to achieve its goal of doubling the size of its business by 2025.

Last year Hill Group delivered 2,203 new homes and continued to enhance its development pipeline, which now comprises around 8,500 homes.

Hill’s accounts show a £315m land bank of over 12,300 homes, representing £4.6bn of future income, and a balance sheet of £322m together with net cash of £132m.

The firm also holds a £220m development funding facility with four high street banks.

“Our diversified business model and strong development pipeline, along with our resilience to short-term economic impacts, means we are well-positioned to maintain a positive trajectory and achieve our five-year business targets.”

Hill said the group has made particular progress with joint-venture partnerships with housing associations, local authorities, and private landowners to deliver large-scale redevelopment and complex estate regeneration projects.

In London, construction started on a landmark 10-year regeneration programme at the DBP Estate in Colindale, to deliver over 750 new homes for existing residents and local people.

In Brentford, West London, Hill started construction of 441 new homes at Kew Bridge Rise, a substantial project to revitalise the former Citroen garage site located at the heart of the Brentford regeneration area.

The Hill Group continued its expansion in Bristol and the South West, with two live developments progressing well and several more development projects in the pipeline.

In addition, Hill has secured a significant city centre regeneration scheme in the centre of Coventry which comprises 1,500 homes of mixed tenure, with up to 215,000sqft of commercial space for food, beverage, retail, and leisure uses.