Keystone Realtors Reports 22% Increase in Sales Bookings Amid Strong Housing Demand

Keystone Realtors Ltd, operating under the Rustomjee brand, reported a 22% increase in sales bookings to Rs 611 crore during April-June due to robust housing demand. Despite a decline in sales volumes, the company has launched new projects with significant gross development values.

Realty firm Keystone Realtors Ltd on Tuesday reported a 22 per cent increase in its sales bookings to Rs 611 crore during the April-June period of this fiscal on strong housing demand.

In a regulatory filing, Keystone Realtors, which sells properties under the Rustomjee brand, said the company achieved pre-sales of Rs 611 crore in the first quarter of this fiscal as compared to Rs 502 crore in the year-ago period.

In volume terms, the Mumbai-based company said its sales bookings fell 16 per cent to 0.24 million square feet from 0.29 million square feet during the period under review.

Commenting on the operational performance, Keystone Realtors CMD Boman Irani 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.' 'In line with our guidance, we have successfully launched two projects this quarter, having estimated GDV (Gross Development Value) of Rs 2,017 crore. This demonstrates our commitment to sustained growth and our readiness for multiple launches this year,' he said.

Irani said the company has added another redevelopment project in this quarter having a gross development value of Rs 984 crore.