Mumbai-based Keystone Realtors, which sells properties under Rustomjee brand, will continue to invest in acquiring land parcels to expand its business. The realty firm targets to sell housing properties worth Rs 4,000 crore this fiscal, eying a 32 per cent annual growth, as demand continues to be strong especially for good brands, as per its CMD Boman Irani.
"We have achieved steady and consistent growth during the last 2024-25 fiscal and surpassed all our guidance. We have given a pre-sales guidance of Rs 4,000 crore for the current fiscal and we are confident of achieving that," Irani said.
He highlighted that the company's pre-sales or sales bookings rose 34 per cent to Rs 3,028 crore last fiscal year, beating the annual guidance of Rs 3,000 crore. The company has already launched few projects in the last one-and-a-half months and the launch pipeline is robust for the remaining period of this fiscal to meet the demand, which has been quite strong post-COVID pandemic.
In the last fiscal, the company launched projects worth Rs 5,000 crore and the number will surpass in 2025-26 financial year. Keystone Realtors will continue to invest in acquiring land parcels to expand its business. The expenditure on construction activities too will rise.
In 2024-25, Keystone Realtors acquired 9 land parcels, which could generate sales potential of Rs 4,783 crore in the coming years. Irani said the company would continue to focus on Mumbai Metropolitan Region (MMR) and few other cities in Maharashtra state.
Keystone Realtors has completed 37 projects and is constructing 16 projects. So far, the company has delivered over 26 million square feet of construction area, with a pipeline of over 40 million square feet of construction area in the works.
