Housebuilder Berkeley Group (LON:BKG) warned that uncertainty from a British referendum on Europe could hit the housing market as it posted higher annual profits.
The group also said adjusted earnings this year were likely to match those in 2014/15.
Berkeley welcomed political stability following the UK general election and potential moves to help builders tackle the country's housing shortage.
But the London-focused group highlighted ongoing political uncertainty from next year's mayoral election in the capital and the proposed EU referendum.
Chairman Tony Pidgley said: "Berkeley is a supporter of the UK remaining in Europe as this is the best way for London to remain a world city.
"There is no doubt, however, that for business to thrive, we must not be bound by over-regulation, be this from our own government or from Europe."
Berkeley reported a 42% rise in pre-tax profits to £539.7mln on a 30.8% increase in revenue to £2.12bn in the year to April 30.
It sold 3,355 new homes at an average selling price of £575,000, and made extra profit of £85.1mln from selling a portfolio of ground rent assets.
The company has secured 28 new or improved planning consents and said all sites with permission were in production.
Adjusted pre-tax earnings rose 19.6% to £454.6mln and the group said it was issuing a further interim dividend of 90p per share payable in September.
It said market conditions were normal with good underlying demand and outlook.
Berkeley said that with £3bn of cash due on forward sales over the next three years and stable market conditions, it expected adjusted earnings in 2015/16 would be similar to 2014/15.
It is targeting pre-tax profits of about £2bn in the three years to 2017/18.
Managing director Rob Perrins said: "Berkeley has the land, forward sales, balance sheet and people to achieve its targets."