Keystone Realtors added 3.61% to Rs 695.15 after the company reported pre-sales of Rs 611 crore in Q1 FY25, showing a growth of 22% YoY basis as compared to the pre-sales of Rs 502 crore recorded in Q1 FY24.
Collections were at Rs 485 crore in Q1 FY25 as against Rs 495 crore in Q1 FY24, down 2% on YoY basis.
The company achieved sales volume of 0.24 million square feet in Q1 FY25, which is lower by 16% as compared with the sales volume of 0.29 million square feet posted in Q1 FY24.
Keystone Realtors stated that it had launched 2 projects in Q1 FY25 having saleable area of 0.63 million square feet and estimated gross development value (GDV) of Rs 2,017 crore, in line with the companys guidance of launching 2 project a quarter.
The company further said that it has added 1 project in Q1 FY25 having saleable Area of 0.35 million square feet and estimated GDV of Rs 984 crore.
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The company added that it has successfully completed the fund raise of Rs 800 crore through QIP in May 2024. Boman Irani, CMD of Keystone Realtors, said: The first quarter of FY25 has set a tone for the year, marking an inflection point for our company as we continue to build on the significant momentum from FY24.
We are confidently poised to deliver substantial value to all stakeholders as we navigate through this year, anticipating a strong uptrend in both acquisitions and launches.
Keystone Realtors is a flagship entity of the Rustomjee Group. KRL and its subsidiaries undertake residential and mixed-use projects in Mumbai Metropolitan Region (MMR) under the Rustomjee brand. The Rustomjee Group has a strong execution track record, which includes development of luxury residential real estate, affordable housing, shopping mall, schools and commercial spaces. Its execution track record is supported by the completed construction of over 20 million square feet area, under-construction projects comprising a saleable area of 6 million square feet and forthcoming developments of 27 million square feet in pipeline.
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