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

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

Mumbai-based Keystone Realtors Ltd has announced strong financial results for FY24 in a recent management move. According to a prominent figure in the Indian real estate industry, the company's sales increased by 41%. This works out to Rs. 2266 crore as compared to Rs. 1604 crore in FY23. This massive growth has increased Keystone Realtors' flexibility and adaptability in response to the dynamics of the Indian real estate market.

Boman Irani, CMD of Keystone Realtors Limited, expressed satisfaction with the company's performance, highlighting significant achievements in various key metrics. He specifically mentioned important guidance regarding presales for 2024. The company's pre-sales figure of Rs. 2266 crore not only exceeded expectations but was also up 41% year-on-year, well above the expected 25% growth. Moreover, in 2024, the product amounted to Rs. 2203 crore, an increase of 18% compared to Rs.1862 crore last year. The increase in collections is a testament to Keystone Realtors' financial management and client relationships.

In the quarter, Keystone Realtors launched two major projects: Panorama in Pali Hill and Stella in Bandra East, with a gross construction value (GDV) of Rs. 735 crore. In FY24, the company announced a total of six projects with expected GDV of Rs. 3000 crore. In addition, four more projects were launched in Q4 24 with an estimated GDV of Rs. 2938 crore. During the financial year, Keystone Realtors added nine projects with a total value of approximately Rs. 8035 crore.

In terms of sales, the smart company sold 1.21 million square meters of space under the 2024 contract; This represents a growth of 17% compared to the previous year. The increase in sales highlights Keystone Realtors' agility and ability to leverage the changing needs of the business, strengthening its position as a business leader. Keystone Realtors reached milestones in project completion. In Q4 2024, the company completed six buildings totaling 1.46 million square feet. A total of 12 buildings representing 4.65 million square meters were completed in 2024.

These accomplishments demonstrate Keystone Realtors' commitment to excellence in execution and on-time delivery and enhance its reputation for reliability and quality. Overall, Keystone Realtors Ltd's outstanding performance in FY24 demonstrates not only strong growth but also strong vision and strong business performance. With its strong sales force, expanding project portfolio, and strong commitment to customer satisfaction, the company has worked well to meet expectations and maintain its success over the years.