Fort Washington-based home builders Toll Brothers is reportedly looking at 20 percent revenue growth for the 2022 fiscal year, writes Ken Martin of Fox Business.

For the luxury construction company, quarterly earnings have gone up — while the initial expectation per share was $2.49, the adjusted earnings are now going at $3.02 per share. Its shares have gained 63 percent currently for 2021.

When comparing revenue, Toll Brothers has seen an 18.2 percent growth to $2.95 billion just this quarter from one year ago. This number beat out expectations as well, where previous projections estimated $2.88 billion.

During the 2021 fiscal year, the company delivered 9,986 homes.

This brought their total sales revenues to a whopping $8.43 billion. However, the company expects to deliver even more. Within the full year, its leaders estimate delivery of 11,250-12,000 units.

“Demand remains very strong,” stated Toll Brothers chairman Douglas Yearley. According to Yearley, a combination of favorable demographics, many years without the production of new homes, and low mortgage rates are the cause of the market boom.

“We believe these trends will continue to drive strong demand for our first-time, move-up, and active adult communities well into the future,” said Yearley.

Read more about Toll Brothers in Fox Business.