Embattled home builder Bathla Group has been placed into voluntary administration, leaving customers in limbo in what it says is a “perfect storm” of circumstances.

It joins the long list of Australian residential builders and property developers which have entered voluntary administration or liquidation due to soaring material costs, labour shortages and fixed-price contracts.

Founder and director Bhart Bhushan described the move to voluntary administration as an “orderly restructure of business”.

“Our first thoughts are with our employees and the customers who have put their faith in us to deliver their dream of home ownership,” Bhushan said in a statement on Tuesday.

“It is my sincere hope this process can allow that to happen by working collaboratively with the administrators, our suppliers, contractors and lending partners.”

In a statement posted on the Bathla website, Bhushan said the decision had been taken in the best interests of all stakeholders, to provide the most feasible opportunity to continue delivering much-needed housing in western sydney and other key markets.

Bhushan said the group had confronted a “perfect storm of circumstances” that contributed…