The equity loan element of the scheme, which offers prospective buyers a loan of up to 20pc of the purchase price of a new property for anyone with a 5pc deposit, was launched in April 2013, and has been most popular in the Midlands and North, Redrow said.
Pre tax profits rose by 91pc to £132.6m, the company said on Tuesday, amid a record jump in revenues to £864.5m, from £604.8m the previous year. The company doubled its final year dividend to 2p per share.
The overall average selling price increased by 13pc to £239,500 due to more homes being sold in London. Redrow said it expected the average selling price continue to rise in 2015 as more homes are completed in London.
Steve Morgan, founder and chairman of Redrow, said the "positive impact of the Help to Buy Scheme" had helped to boost profits.
But Mr Morgan, who has attacked local authorities in the past for "deliberately stalling" new housing developments , said Britain's rigid planning system was stopping them from building even more homes, which increased by 27pc to 3,600 completions this year.
"There's a lot of smoke and mirrors when it comes to planning," he told BBC Radio 4's Today programme. . "We have a population increasing at the fastest rate ever and the third-slowest rate of building in the Western world," he said.
The company also said a skills shortage was also hitting demand, while tough new rules introduced by the Mortgage Market Review in April had "undoubtedly moderated the market".
The shares climbed 9p to 283p on Tuesday morning.
The final dividend will be paid on November 14.
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