The property giant run by prominent businessman Mark Stott created almost 100 jobs during its latest financial year.
Alderley Edge-based Vita Group increased its headcount by 96 to 506 in 2022, new accounts filed with Companies House show.
The documents also confirm that the group's turnover dipped from £385.3m to £356.7m while its pre-tax profits went from £25.8m to £10m over the 12 months.
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Its previous financial year was buoyed by the sale of four properties to Mapletree.
A statement signed off by the board said: "During the year, the group sold its student residence in London and completed the construction of three new Vita Student residents including the group's first development in Spain.
"The group continues to manage a property portfolio under operating management agreements following the sale of 13 residents in previous years and the residence sold this year.
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"Student bookings for the 2023/24 academic year and occupancy in both our student and residential properties are strong and therefore the directors are confident that the group is well positioned to grow revenues and profitability.
"The directors expect the group to make profits in the future as developments under construction and planned developments complete and are sold.
"Four additional Vita Student developments are scheduled for completion in 2023; the business also continues to grow other brands in the student and residential sector and has a number of properties under development under the new Union and House of Social brands."
Chief financial officer Michael Slater added: "It’s been a great year for the business despite inflation driving up build, finance, and operational costs.
"Performance across Vita Group’s operational platform has continued to go from strength-to-strength, with increased revenue achieved thanks to high demand for Vita Group products from both foreign and domestic markets.
"With new buildings opening in 2023, exciting new brands coming to market and a robust development pipeline, we look forward to creating more thriving communities and building upon our success."