Keystone Realtors Q1 sales bookings up 22% to ₹611 crore on strong housing demand

Realty firm Keystone Realtors Ltd on Tuesday reported a 22% increase in its sales bookings to ₹611 crore during the April-June period of this fiscal on strong housing demand.

In a regulatory filing, Keystone Realtors, which sells properties under the Rustomjee brand, said the company achieved pre-sales of ₹611 crore in the first quarter of this fiscal as compared to ₹502 crore in the year-ago period.

In volume terms, the Mumbai-based company said its sales bookings fell 16% to 0.24 million square feet from 0.29 million square feet during the period under review.

Commenting on the operational performance, Keystone Realtors CMD Boman Irani 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 (Gross Development Value) of ₹2,017 crore. This demonstrates our commitment to sustained growth and our readiness for multiple launches this year," he said.

Irani said the company has added another redevelopment project in this quarter having a gross development value of ₹984 crore.