Keystone Realtors Achieves 129% YoY Growth in Q2 FY25 Pre-Sales

On October 8, 2024, Keystone Realtors Limited announced key operational updates for Q2 FY25, reflecting strong growth across multiple metrics.

Pre-Sales
Keystone Realtors reported pre-sales of ₹7 billion in Q2 FY25, a significant increase of 129% compared to ₹3.06 billion in Q2 FY24. For H1 FY25, pre-sales reached ₹13.11 billion, reflecting a growth of 62% from ₹8.07 billion in H1 FY24. This growth highlights the company’s continued success in attracting buyers and driving sales momentum.

Collections
The company’s collections for Q2 FY25 stood at ₹5.52 billion, slightly lower than ₹5.85 billion in Q2 FY24. For H1 FY25, collections amounted to ₹10.37 billion, compared to ₹10.80 billion in the same period last year, showing a stable performance in cash flows.

New Launches
Keystone Realtors launched three RERA projects in Q2 FY25, namely “Verdant Vistas ‘A’ Wing” and “Verdant Vistas ‘B’ Wing” in Urbania, and the “Belle Vie” plotted development in Kasara. These projects have a total saleable area of 2.49 million square feet and an estimated gross development value (GDV) of ₹20.40 billion. In total, the company launched five projects in H1 FY25, aligning with its goal of launching two projects per quarter, with a combined GDV of ₹40.57 billion.

Business Development
In Q2 FY25, Keystone Realtors added 3 projects with a GDV of ₹13.33 billion, further strengthening its leadership in the redevelopment space. In H1 FY25, the company added four projects with a total GDV of ₹23.17 billion, achieving 58% of its FY25 guidance.

Completions
The company completed 2 RERA projects during Q2 FY25: “Erika” in Bandra East and “Bella C & D Wing” in Bhandup, with a total construction area of 0.38 million square feet.

Sharing his thoughts on the company’s operational performance for Q2 FY25, the CMD of Keystone Realtors Ltd, Mr Boman Irani, said, “As we successfully complete the second quarter of FY25, I am thrilled to share that we are at a pivotal moment for our company. Building on the remarkable momentum from FY24, our Pre-Sales have soared to ₹7 billion in Q2FY25, marking a phenomenal quarterly growth of 129% on a YoY basis, a testament to our resilience and strategic vision.” 

He further added that as the festive season approaches, Keystone Realtors remains optimistic about its strong pipeline of launches for the remainder of FY25. He expressed confidence in the company’s ability to not only acquire new projects but also execute them efficiently. With immense redevelopment opportunities in Mumbai, Keystone Realtors, being the most preferred player in the space, is strategically positioned to capitalise on the current momentum.

On October 8, 2024, the share price of Keystone Realtors Ltd opened at ₹678.00, touching the day’s high at ₹717.00, as of 1:38 PM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.