Keystone Realtors Ltd, operating under the Rustomjee brand, has reported a significant increase in pre-sales, reaching INR 7 billion in Q2 FY25, marking a remarkable 129% year-on-year growth compared to INR 3.06 billion in the same quarter last year. The company's total pre-sales for H1 FY25 stand at INR 13.11 billion, reflecting a 62% increase from the previous year. Keystone launched three new projects in Q2, adding a saleable area of 2.49 million sq ft and an estimated gross development value (GDV) of INR 20.40 billion.
Keystone Realtors Ltd, operating under the renowned *Rustomjee* brand, has reported an impressive surge in pre-sales for the second quarter of FY25. The company achieved pre-sales of INR 7 billion, a remarkable 129% year-on-year (YoY) growth compared to INR 3.06 billion in Q2 FY24. This strong performance underscores the growing demand for residential properties, particularly in Mumbai, where Keystone Realtors has established a firm foothold.
During the first half of FY25, the company recorded total pre-sales of INR 13.11 billion, a 62% increase from the INR 8.07 billion achieved during the same period in the previous fiscal year. Keystone's ability to maintain this momentum can be attributed to its strategic project launches and its expanding portfolio in the redevelopment space.
Boman Irani, Chairman and Managing Director of Keystone Realtors, expressed his excitement over the company's strong performance. The company is at a pivotal moment, building on the remarkable momentum from FY24, with pre-sales soaring and marking a phenomenal quarterly growth of 129% year-on-year. This performance is a testament to the company's resilience and strategic vision.
In Q2 FY25, Keystone Realtors launched three new projects: Verdant Vistas 'A' Wing and Verdant Vistas 'B' Wing in Urbania, and Belle Vie, a plotted development at Kasara. These projects span a saleable area of 2.49 million sq ft, with an estimated gross development value (GDV) of INR 20.40 billion. The company also added three new redevelopment projects in the same quarter, contributing an additional GDV of INR 13.33 billion.
Irani noted that Keystone Realtors is well-positioned to capitalize on Mumbai's immense redevelopment opportunities, supported by a strong balance sheet. With the festive season approaching, the company is optimistic about its pipeline of project launches and is confident in its ability to efficiently acquire and develop new projects.
Overall, the company's robust performance and strategic growth initiatives have further strengthened its leadership in the real estate sector, particularly in the lucrative Mumbai market.
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