Diversified property developer Calgro M3 has reported a combined development pipeline of R31.8bn as the group accelerated the trade-out of non-core projects.The group is also progressing the infrastructure rollout at the large-scale affordable housing development Bankenveld District City (BDC).The group’s pipeline comprises R29.4bn in residential opportunities and R2.4bn in memorial parks. The bulk, 70%, of units transferred came from Scottsdene, La Vie Nouvelle, South Hills Lifestyle Estate, Jabulani and 32-on-Pine, largely within the mid- to high-end market, the group said in results for the year to end-February. It said its pipeline remains robust, comprising about 31,874 residential opportunities and 114,827 burial opportunities. Its targeted focus on non-core assets continues to support the phased completion and close-out of projects, freeing up financial, operational and management capacity for redeployment into core developments.“The 2026 financial year saw the group implement refined strategic priorities centred on four key pillars: the disposal and accelerated completion of non-core assets while expanding the memorial parks’ footprint, reducing net debt in the medium term and building a sustainable talent pipeline. “These priorities informed performance and capital allocation decisions, with the group directing sales and construction towards its non-core project pipeline outside its large-scale integrated core portfolio,” the group said. HEPS declined to 156.76c from 171.36c and the group declared an unchanged final dividend of 8.64c. Net asset value rose to R16.46 per share from R14.86 previously.The group reported an outflow of net cash from operating activities of R99m from a R34m inflow a year ago as it increased investment in construction work in progress and bulk infrastructure at BDC.Revenue for the memorial parks segment increased to R86m from R68m before, driven by gains in market share and the completion of layby sales during the year. Layby sales rose 59% to R45m during the year, with the active layby book ending at R59.7m, up 29.7% year-on-year.The group launched the Rustenburg Memorial Park, expanding its footprint into the North West. The new park performed strongly, with burial rates and sales volumes ahead of comparable parks at a similar stage of development, the group said.Revenue in the residential segment rose slightly to R806m from R800m, while margins eased to 24% from 27% as the group continued its deliberate trade-out of legacy non-core projects. Combined revenue came in at R942m, down from R1.1bn, reflecting reduced joint-venture activity.“The residential property development segment remains the group’s largest contributor and formally commenced the Bankenveld District City integrated housing project, a landmark development that broke ground during the year with the rollout of bulk and link infrastructure, including key roads and bridges within the precinct,” it said. The group said acquiring additional land remains a key priority, especially near existing developments to make better use of infrastructure and improve efficiencies, while also focusing on new land in the Western Cape to support geographic diversification of the pipeline.Business Day