Keystone Realtors announced that its collection has declined 6% to Rs 552 crore in Q2 FY25 as against Rs 585 crore recorded in Q2 FY24.
Sequentially, the firm’s collections jumped 14% in Q2 FY25 as compared to Rs 485 crore in Q2 FY24.
The realtor’s pre-sales stood at Rs 700 crore in the quarter ended 30 September 2024, registering a growth of 129% YoY and 15% QoQ.
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The company’s area sold was at 0.46 million square feet in Q2 FY25, up 184% YoY.
During Q2 FY25, the company launched 3 RERA projects having saleable area of 2.49 mn sq ft and estimated GDV of Rs 2,040 crore, with this company launched a total of 5 projects in H1 FY25 with an estimated GDV of Rs 4,057 crore in line with the companys guidance of launching 2 projects a quarter.
The company said that it also added 3 Projects in Q2FY25 with a GDV of Rs 1,333 crore. These strategic additions align with its goal to maintain and strengthen its leadership in the redevelopment space, with this, it added a total of 4 projects in H1 FY25 with an estimated GDV of Rs 2,317 crore thereby achieving 58% of its guidance for FY25.
For H1 FY25, pre-sales surged 62.45% YoY to Rs 1,311 crore while collections declined 3.98% to Rs 1,037 crore over H1 FY24.
Boman Irani, CMD of Keystone Realtors, 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 INR 7 billion in Q2FY25, marking a phenomenal quarterly growth of 129% on YoY basis, a testament to our resilience and strategic vision.
Keystone Realtors is one of the prominent real estate developers in Mumbai Metropolitan Region (MMR). As of 30 June 2022, the company had developed 20.22 million square feet (msf) area including infrastructure spread across 32 projects or 280 building and home to over 14,000 families.
The company reported consolidated net profit of Rs 46.97 crore in Q1 FY24 as compared with Rs 4.97 crore in Q1 FY23. Net sales jumped 61.3% year on year to Rs 271.96 crore in Q1 FY24.
Shares of Keystone Realtors rallied 3.05% to Rs 708 on the BSE.
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First Published: Oct 08 2024 | 3:18 PM IST
