By Adriano Marchese
Luxury homebuilder Toll Brothers Inc. said Tuesday that it projects a 20% growth in revenue in fiscal 2022 amid strong demand.
Toll Brothers /zigman2/quotes/201912487/composite TOL +2.42% said it expects to deliver between 11,250 and 12,000 units in the full year at an average delivered price of between $875,000 and $895,000.
In fiscal 2021, the company said it delivered 9,986 homes, bringing home sales revenues to $8.43 billion.
The company said demand remains strong, as the housing market continues to benefit from favorable demographics, low mortgage rates and a tight resale market.
“We believe these trends will continue to drive strong demand for our first-time, move-up and active adult communities well into the future,” Chairman and Chief Executive Douglas Yearley said.
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