Keystone Realtors Q2 sales bookings jump over 2-fold to Rs 700 crore

Mumbai: Realty firm Keystone Realtors Ltd on Tuesday reported a more than two-fold jump in its sales bookings to Rs 700 crore during the second quarter of this fiscal year on strong housing demand.

The company sells its properties under the "Rustomjee'' brand.

In a regulatory filing, Keystone Realtors reported pre-sales of Rs 700 crore in the second quarter of the 2024-25 fiscal as compared to Rs 306 crore in the year-ago period.

Pre-sales stood at Rs 1,311 crore during the April-September period of this fiscal as against Rs 807 crore in the corresponding period of the previous year.

Boman Irani, CMD of Keystone Realtors, said, "Building on the remarkable momentum from FY24, our pre-sales have soared to Rs 7 billion in Q2 of FY25, marking a phenomenal quarterly growth of 129 on a Y-o-Y basis, a testament to our resilience and strategic vision." He said the company launched three projects in September quarter with a sales potential of Rs 2,040 crore.

Irani said the company has also added 3 more new redevelopment projects contributing additional GDV (gross development value) of Rs 1,333 crore in the second quarter of this fiscal.

"With the festive season approaching, we are excited about our strong pipeline of launches for the rest of FY25. I am confident that we are well equipped to not only acquire new projects but also bring them to life efficiently," he said.

The redevelopment opportunity in Mumbai is immense, Irani said.

"With strong balance sheet, we are sufficiently capitalised and fully prepared to seize these opportunities," he added.

Keystone Realtors is one of the leading developers in the country.