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Keystone Realtors aims 32% growth in housing sales booking in FY26: CMD
Realty firm Keystone Realtors Ltd 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, its CMD Boman Irani said.
Mumbai-based Keystone Realtors, which sells properties under Rustomjee brand, is one of the leading real estate developers in the country.
"We have achieved steady and consistent growth during the last 2024-25 fiscal and surpassed all our guidances," Irani told PTI in an interview when asked about the company's performance.
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 demand for apartments as well as residential plots remains strong especially in projects developed by reputed brands, Irani said, while exuding confidence of maintaining the company's growth momentum.
Asked about the sales bookings target for 2025-26, Irani said, "We have given a pre-sales guidance of Rs 4,000 crore for the current fiscal and we are confident of achieving that." He said 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, Irani said 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.
Last week, Keystone Realtors reported a 69 per cent increase in consolidated net profit to Rs 188.13 crore during the last fiscal from Rs 111.03 crore in 2023-24.
Total income fell to Rs 2,121.44 crore last fiscal from Rs 2,275.63 crore in the 2023-24 financial year.
"This performance is a testament to the resilience of our strategy and the continued momentum we are experiencing," said Irani, who is also Chairman of realtors' apex body CREDAI.
"The demand for our products remains robust. Our asset-light model, with a focus on redevelopment opportunities, particularly in MMR, continues to be a key driver of growth," he said.
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.
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