Keystone Realtors housing sales bookings up 41% to ₹2,266 crore

Keystone Realtors sold 1.21 mn sq ft area last fiscal, up 17 per cent from 1.04 mn sq ft in the preceding year, according to the regulatory filing

Published on: Apr 8, 2024, 21:09:03 IST

By HT News Desk

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Mumbai-based Keystone Realtors Ltd, that develops real estate projects under the Rustomjee brand, on April 8 reported a 41% growth in sales bookings to ₹2266 crore in financial year 2024 as against 1604 crore in FY 2023 on the back of increased housing demand, the company said in a regulatory filing.

Mumbai-based Keystone Realtors Ltd, that develops real estate projects under the Rustomjee brand, on April 8 reported a 41% growth in sales bookings

“The fiscal year FY24 has proven to be an eventful period for our company, marked by notable achievements across all key performance metrics including pre-sales, collections, launches, and new project additions. Our performance metrics have surpassed the guidance in most of the parameters, exemplified by the remarkable achievement in pre-sales for FY24, which amounted to Rs. 2266 crore, reflecting a notable 41% YoY growth, well ahead of our projected 25% YoY,” said Boman Irani, CMD of Keystone Realtors Limited.

Collections stood at ₹2203 crore in FY 2024 as against 1862 crore in FY 2023 which amounted to a growth of 18%, the company said.

Also Read: MahaRERA extends completion dates for three housing projects

During Q4FY24, the company launched two projects Panorama (Pali Hill)and Stella (Bandra East) having a Gross Development Value of ₹735 crore, the company said.

In FY24, the company launched a total of six projects with an estimated GDV of ₹3000 crore, the company said.

Also Read: Rustomjee Group bags redevelopment project in Malad with GDV of ₹1200 crore

During Q4FY24, the company added four more projects with an estimated GDV of ₹2938 crore. For the period FY24, the company added a total of nine projects with an estimated GDV of around ₹8035 crore.

The company sold 1.21 million square feet area last fiscal, up 17 per cent from 1.04 million square feet in the preceding year, according to the regulatory filing.

Also Read: Mumbai real estate market: Here’s why listed realtors are making a beeline for redevelopment projects

Project completions

During Q4FY24, the company completed six buildings with a construction area of 1.46 mn sq ft. For the period FY24, the company completed 12 buildings with a construction area of 4.65 mn sq ft, the company said.

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