16 December 2022

Interim CEO appointed

Paragon Treasury Plc's parent company, Paragon Asra Housing Limited (‘PA Housing’), makes the following announcement.

Recognising the short term needs of both the sector and PA Housing coupled with the incumbent CEO's retirement early next year, the Board has taken the decision to augment short term executive resource and capability with the addition of Michael McDonagh as Interim CEO to aid the transition.

Michael spent most of his career with KPMG where he was the UK Chief Operating Officer and led a successful public sector business. He has worked extensively across the Social Housing Sector. He is a tremendous supporter of social housing and brings this, along with a strong commercial focus, to PA Housing.

Please contact our Resources Director Simon Hatchman for further information.

[email protected]
07720 087108

9 December 2022

Dilip Kavi to retire

Dilip Kavi the CEO of PA Housing has announced he is to retire at the end of March 2023.

Dilip has been employed as Chief Executive from the inception of PA Housing in 2017, leading a team of operational, development, finance and governance directorates for a multiregional housing  association, employing over 700 staff, with a turnover of ca. £200m, a new build programme of up to 600 homes per annum and 23,000 home estate with a market value of ca. £1.5bn. Previously Dilip was Chief Executive of Paragon from 2011.

Dilip said “I have enjoyed my time with PA Housing and its predecessor Paragon but feel now is the right time to pass the baton to someone who can see PA through its next phase of evolution. I will miss the people and am proud of what we have achieved”

Suki Kalirai the Chair of the Board said “On behalf of all stakeholders I wish to thank Dilip for his years of dedicated service and commitment to PA Housing and also to the social housing sector as a whole. We will send him off with our gratitude and best wishes for a relaxing and successful future”

The Board will now commence the search for a new CEO.

9 November  2022

Presentation to investors

PA Housing delivered a Fixed Income Investor Update presentation to investors on 9 November 2022. The presentation pack can be accessed via the button below. Please contact our Executive Director - Resources, Simon Hatchman if you have any queries about the presentation.

View presentation

8 November 2022

Trading update and unaudited accounts

Trading update and unaudited financial results for the period ended 30 September 2022.

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30 September 2022

2021/22 financial statements and supplementary information for investors

Paragon Treasury Plc’s parent company, Paragon Asra Housing Limited (‘PA’), announces the release of its audited financial statements for the financial year ended 31 March 2022.

The financial year saw continuing impacts from the pandemic, including as a result of our efforts to bounce back from government restrictions and catch up on work which had been delayed. Then in the latter part of the year, emerging high inflation and related cost of living pressures had an increasing influence on our service delivery. Our financial planning remains robust and agile in response to these challenges.

Read full announcement

Read our Financial Statements

9 June 2022

Trading update

Paragon Asra Housing Limited (“PA”) is the parent company of Paragon Treasury Plc and a Registered Provider owning and managing over 23,000 homes in the East Midlands, London and Surrey.

A PA property in London has been highlighted in media coverage on ITV News (8 June 2022). PA is aware of the repair issues in this case and is working with the resident to resolve them as quickly as possible. We have apologised to our resident.

This is a rare incident, but it should not have happened. PA Housing is investigating this case to learn lessons and ensure these are applied to avoid a repeat.

All investor enquiries in relation to this update should be directed to:

Simon Hatchman
Executive Director - Resources

07720 087108
[email protected]

6 May 2022

Trading update and unaudited accounts

Trading update and unaudited financial results for the period ended 31 March 2022.

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31 March 2022

Paragon Asra Housing Limited ('PA') In Depth Assessment outcome

PA is the parent company of Paragon Treasury Plc and a Registered Provider owning and managing over 23,000 homes in the East Midlands, London and Surrey.

PA confirms that following an In Depth Assessment (‘IDA’) conducted by the Regulator of Social Housing, PA is graded as V2 for financial viability and G1 for Governance (previously V1, G1). The financial viability regrade reflects the following factors, working in combination:

• PA’s ongoing commitment to build 6,000 new social tenure homes between 2020 and 2030
• Short-term additional expenditure on fire safety remediation, in the main relating to a small number of blocks where major remediation works have been identified. PA is working to mitigate this cost through government grant applications and liaison with the original building contractors

PA welcomes the IDA process and fully accepts the results, with feedback from the Regulator to be embedded within working practices going forward.

All enquiries in relation to this trading update should be directed to:

Simon Hatchman
Executive Director - Resources

07720 087108
[email protected]

10 February 2022

Presentation to investors

PA Housing delivered a no-deal general business update presentation to investors on 10 February 2022. The presentation pack can be accessed via the button below. Please contact our Executive Director - Resources, Simon Hatchman if you have any queries about the presentation.

View presentation

04 November 2021

Trading update and unaudited accounts

Trading update and unaudited financial results for the period ended 30 September 2021.

Find out more

10 September 2021

Paragon Asra Housing Limited (‘PA Housing’) annual ESG report for financial year ended 31 March 2021

PA Housing, the parent company of Paragon Treasury Plc and a Registered Provider owning and managing 23,000 homes in the East Midlands, London and Surrey, confirms the publication of its inaugural Environmental, Social and Governance (‘ESG’) outturn report.

The report covers activities in the financial year ended 31 March 2021 and it incorporates the ESG metrics included in the sector-wide Sustainability Reporting Standard for Social Housing, of which PA Housing is one of a number of housing association early adopters. The report also provides a general update on PA Housing’s ESG activities during the year.

Read the report

13 August 2021

2020/21 financial statements and supplementary information for investors

Paragon Treasury Plc’s parent company, Paragon Asra Housing Limited (‘PA’), announces the release of its audited financial statements for the financial year ended 31 March 2021.

PA’s overriding priority throughout the Covid-19 pandemic has been to ensure the safety and welfare of our residents, staff and partners. While our services have faced disruption, we have worked to maintain high service levels wherever possible

Read full announcement

View Financial Statements

27 May 2021

New Chair

Hattie Llewelyn-Davies stands down as Chair and Board member of PA Housing.

Hattie wishes PA every success in the future, praising the strength of its staff and residents.

Everyone at PA extends their thanks to Hattie for her hard work and dedication over the last three years, and sends their very warmest wishes for the future.

Board member Anne Turner has been appointed as Interim Chair, pending recruitment of a permanent successor.

30 April 2021

Presentation to investors

PA Housing presented to investors on 27 and 28 April 2021, culminating in completion of a benchmark size bond issue on 29 April 2021. The presentation pack can be accessed via the button below. Please contact our Resources Director Simon Hatchman if you have any queries about the presentation.

Find out more

23 April 2021

Trading update and unaudited accounts

Trading update and unaudited financial results for the period ended 31 March 2021.

Find out more

13 November 2020

Presentation to investors November 2020

PA Housing presented a general business update to investors on Monday 16 November. The presentation pack can be accessed via the button below. Please contact our Resources Director Simon Hatchman if you have any queries about the presentation.

View presentation

3 November 2020

Trading update and unaudited accounts

Trading update and unaudited financial results for the period ended 30 September 2020.

Find out more

9 October 2020

Presentation to bank lenders October 2020

We recently held our annual lenders day, at which we provided a general update on PA’s business performance and future plans. This year we included particular details on our ESG activities. The full slide pack from the day can be accessed here. Please contact our Resources Director Simon Hatchman if you have any queries about the presentation.

View presentation

1 September 2020

2019/20 financial statements and supplementary information for investors

Audited financial statements for the financial year ended 31 March 2020.

Read full announcement

View Financial Statements

6 May 2020

Trading update and unaudited accounts

Trading update and unaudited financial results for the period ended 31 March 2020.

Find out more 

2 April 2020

Update on response to Coronavirus 

Our response to the Coronavirus situation and its current expectations in respect of financial performance impacts.

Read more

8 November 2019

Trading update and unaudited accounts

Trading update and unaudited financial results for the period ended 30 September 2019.

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25 September 2019

2018/19 financial statements and supplementary information for investors

Audited financial statements for the financial year ended 31 March 2019. 

Our results for the year were in line with the Board’s financial plans, confirming continued strong performance. Key group figures are as follows:

These results represent a stable and resilient financial position, allowing the Board to make appropriate strategic decisions in pursuit of PA’s vision - which is to become widely recognised as a social enterprise with a reputation for providing quality homes and services. 

The full audited financial statements for PA are available below: 

View Financial Statements 

An information pack to update investors on various aspects of PA’s performance and plans is also available. This includes an addendum which covers the following in response to recent investor enquiries: 

• new build development programme
• property sales performance
• flood risk
• high rise cladding
• customer satisfaction
• business plan stress testing

 View presentation

22 February 2019

We are proud to announce that we’ve been nominated for Housing Finance Awards in the categories of Finance Team of the Year and Treasury Team of the Year.

Most of the team were still new to PA (and indeed social housing) a year ago, so it’s a real accolade for everyone’ hard work and contribution that we’ve been able to get this nomination.”

The awards ceremony, which is held annually by the National Housing Federation, will take place in Liverpool on Wednesday 20 March. We’re up against 4 other housing associations in each category."

Ian Kerr, Head of Treasury & Financial Planning

Good luck to our brilliant teams!

07 February 2019

£50 million funding package secured

We are delighted to announce that PA Housing has secured a £50m funding package from Lloyds Bank Commercial Banking that will allow us to build 5,700 new homes over the next 10 years.

Find our more