Kalamon Homes
Cost Control & Profitability Monitoring
About the company
Kalamon Homes is a Cyprus-based property developer, with more than 35 years of expertise specializing in high-quality residential projects. The company manages the full development cycle, from design to construction, with a focus on distinctive developments in prime locations.
Challenges
Systems and Data
Project cost information was scattered across contracts, invoices, and supplier notes with no consistent method to track expenses or extras from conception through delivery.
Process and Controls
There was no standardized reconciliation between supplier invoices and project manager records. Extras often exceeded contractual caps because costs were not tracked against limits in real time.
Reporting
Management lacked a clear view of ongoing project costs versus budgets. Profitability was only calculated at the end of projects, making it impossible to catch overruns early.
Financial Management
Forecasting was unreliable due to inconsistent tracking of extras and delays in reconciling supplier charges. Profit margins were exposed to erosion without timely intervention.
Solution
Systems and Data
We designed a unified expense tracking tool that consolidated all project costs including extras into one structured system, aligned with contract caps.
Process and Controls
A reconciliation framework was introduced between supplier invoices and project manager records, ensuring discrepancies were flagged early and extras remained within contractual limits.
Reporting
The tool enabled interim cost-versus-budget monitoring at each project phase. This provided real-time visibility of project costs and supported proactive profitability analysis.
Financial Management
We established a framework for forecasting project costs more accurately, giving management the ability to anticipate overruns, protect margins, and strengthen long-term planning across developments.
Gain financial clarity
Make data-driven decisions with the support of our expertise in consolidating finances and operations.