Keystone Realtors Limited, a prominent MMR based real-estate company engaged in the development of residential and commercial developments, announced its financial results for Q4 FY24.
Commenting on the company’s performance, Mr. Boman Irani, Chairman and Managing Director, Keystone Realtors Limited, said “In FY24, the company has demonstrated remarkable progress in terms of Pre-Sales, collections, new additions and new launches. We are thankful to all our stakeholders for their continued support and trust in us.
“In FY 2024, Rustomjee Group accomplished an exceptional performance, recording Pre-Sales of Rs. 2266 Crs which is a remarkable growth of 41% YoY well ahead of our guidance of 25%. Going forward, we anticipate a continued upward trajectory in Pre-Sales, driven by our strong pipeline of launches and the unwavering trust of our customers. Beyond mere figures, our dedication to excellence permeates every aspect of our operations. Throughout this financial year, we launched 6(six) developments having an estimated saleable area of 1.68 mn sqft to cater to the preferences of our diverse clientele. Further, the addition of 5 new developments during Q4 has taken our Full Year additions to 10 new developments boasting an estimated saleable area of 4.1 Mn sqft. During the year, we have completed 12 buildings with a developable area of 4.65 mn sq ft., which is the highest ever in any year. With a promising pipeline of launches, we feel that we are at an inflection point to enter an era of exponential growth, poised for an exciting journey ahead, generating value for our stakeholders and enriching the urban living experience.”
Operational Highlights for Q4 FY24 - Pre-Sales INR 8.43 bn./ Collections INR 6.70 bn.
Operational Highlights for FY24 - Pre-Sales INR 22.66 bn./ Collections INR 22.03 bn.
Financial Highlights - Consolidated for Q4 FY24 - Revenue INR 8.12 bn./ EBITDA INR 0.67 bn./ PAT INR 0.31 bn.
Financial Highlights - Consolidated for FY24 - Revenue INR 22.22 bn./ EBITDA INR 1.63 bn./ PAT INR 1.12 bn.
During Q4 FY24, we added 5 developments with an estimated saleable area of 1.9 mn sqft. With this, the company has added a total of 10 developments having estimated saleable area of 4.1 mn sqft during FY 24.
During Q4 FY24, we completed 6 buildings with a developable area of 1.46 mn sq ft. With this, the company has completed 12 buildings with a developable area of 4.65 mn sq ft. in FY24. Secured Debt.
Gross Debt stands at ~INR 7.65 bn and Gross Debt/Equity ratio is 0.43 as on FY24. Net Debt stands at ~lNR 3.59 bn and the Net Debt/Equity ratio is 0.20 at the end of FY24.
Mumbai Metropolitan Region (MMR) real estate industry is on a promising growth trajectory, offering abundant opportunities for the Rustomjee Group. With a strong focus on redevelopment, expansion within the MMR region, and the competitive advantage of our unique strengths, we are well-positioned for sustained success. Our asset-light business model, effective stakeholder management, customer-centric approach, technological advancements, reliable vendor relationships, and experienced leadership team will continue to drive growth and deliver exceptional value. Keystone is operating across a wide spectrum of housing segments and is confident of continuing as a dominant developer and a preferred partner in (re)development space.
