Tony Pidgley, Berkeley Group鈥檚 chief executive, has defended his decision to award himself a 拢31m bonus amid one of the housebuilding sector鈥檚 worst fortnights in recent years.

As part of the deal, Rob Perrins, the finance director, will get 拢12m and Tony Carey and Greg Fry, two other directors, will get 拢9m and 拢6m respectively.

The move comes amid news of mass redundancies at other housebuilders and after Taylor Wimpey failed to raise a 拢500m rescue package from investors.

Pidgley said: 鈥淏erkeley runs a different model to everyone else. It鈥檚 unfortunate amid all the other bad news but we are in a unique position.鈥�

He said the group鈥檚 lack of debt made the payout, agreed four years ago, possible. 鈥淚 have always been old-fashioned about debt. I don鈥檛 like it on the books.鈥�

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