Cairn Homes plc (LON:CRN) said it has been operating at 80% of pre-pandemic levels over the past three months.
The closed and current forward sales pipeline has grown to 970 new homes as of Monday from 863 in May, while 300 forward sales are now expected to close next year due to lockdowns.
The housebuilder reopened 15 residential construction sites on May 18 respecting social distancing measures, which are causing higher operating costs.
In the six months to June 30, the Irish firm closed 207 new home sales, down from 390 a year ago, while revenues plummeted 58% to €80mln.
Gross margin is expected to be 16% from 18.6% in 2019.
Cash at period-end was €155mln with €187mln of net debt.
Shares rose 5% to 0.88p early on Tuesday.