Keystone Realtors announced its operational updates for Q1 FY25. Pre-Sales of INR 6.11 bn in Q1FY25 as compared to INR 5.02 bn in Q1FY24, showing a growth of 22% YoY basis.Collections are at INR 4.85 bn in Q1FY25 as compared to INR 4.95 bn in Q1FY24. Launched 2 projects (180 Bayview in Matunga West & Ocean Vista in Versova) in Q1FY25 having saleable area of 0.63 mn sq ft and estimated GDV of INR 20.17 bn in line with our guidance of launching 2 project a quarter.
Added 1 Project in Q1FY25 having saleable Area of 0.35 mn sq ft and estimated GDV of INR 9.84 bn. This is a redevelopment project. These strategic additions align with our goal to maintain and strengthen our leadership in the redevelopment space.
Commenting on the Company’s operational performance for Q1FY25, Boman Irani, CMD of Keystone Realtors Limited, 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 of INR 20.17 billion. This demonstrates our commitment to sustained growth and our readiness for multiple launches this year. We have achieved Pre-Sales of INR 6.11 billion, a strong 22% YoY growth in addition to adding another redevelopment project in this quarter having GDV of IBR 9.84 bn. This aligns with our strategic goals and underscores our ability to meet and exceed our targets. The company is all geared up to not only acquire new projects but also bring them to launch stage efficiently. The impressive 41% YoY growth in Pre-Sales in FY24, surpassing our 25% guidance, is a testament to our strategic direction and operational excellence. 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.”
