Ian Baker, managing director of Galliford Try Homes, said: "The housing market is going through extremely challenging times and Galliford Try is having to take a number of measures to align its housebuilding business to reflect the reduced level of demand for its homes.
"We are very disappointed that this will result in some redundancies throughout our housebuilding division.
"Galliford Try is confident that in the longer term the demand for homes will return, and the underlying strengths of the company will allow it to resume its growth."
It is believed 43 jobs will go out of a workforce of around 200 at Stamford Homes which is based in Bakewell Road, Peterborough.
Stamford Homes was founded in Stamford 55 years ago. It is developing sites in Bourne, Nassington and Helpston.
The company began life building new houses in Stamford. It has expanded extensively throughout eastern England and the East Midlands. Operating as Stamford Homes North and Midlands the company now develops around 500 homes a year.
Galliford Try is one of the top 10 publicly quoted housebuilders in the UK.
Its housebuilding division operates through five regional brands: Linden Homes, Linden London Developments, Stamford Homes, Midas Homes, and Gerald Wood Homes. Concentrating on brownfield sites and individually designed developments, the business completes around 3,000 homes a year.
A spokesman for the company said that a 30 day consultation period would identify the redundancies required at Stamford Homes.