Mumbai-based listed real estate firm Keystone Realtors Ltd, also known as Rustomjee Group, on October 8 reported an almost 100% jump in its pre-sales bookings to ₹700 crore in Q2FY25 compared to ₹306 crore in the year-ago period.
On a half yearly basis, the pre-sales stood at ₹1,311 crore between the April-September period of this fiscal as against ₹807 crore in the corresponding period of the previous year.
Realty firm Keystone Realtors Ltd on Tuesday reported a more than two-fold jump in its sales bookings to ₹700 crore during the second quarter of this fiscal year on strong housing demand.
“Building on the remarkable momentum from FY24, our pre-sales have soared to ₹7 billion in Q2 of FY25, marking a phenomenal quarterly growth of 129 on a Y-o-Y basis, a testament to our resilience and strategic vision,” said Boman Irani, CMD of Keystone Realtors.
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He said that the company launched three projects in the September quarter with a sales potential of ₹2,040 crore. The company has also added three more new redevelopment projects contributing additional GDV (gross development value) of ₹1,333 crore in the second quarter of this fiscal, Irani added.
“With the festive season approaching, we are excited about our strong pipeline of launches for the rest of FY25. I am confident that we are well equipped to not only acquire new projects but also bring them to life efficiently,” said Irani.
In July 2024, Rustomjee Group had announced its foray into the plotted development segment. The company had acquired a 88-acre land parcel for ₹91 crore in Kasara near the famous hill station Igatpuri, which is about a three-hour drive from Mumbai.
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According to the company, plotted development is a strategic move driven by the increasing demand for second homes among individuals seeking a peaceful retreat from city life.
Also Read: Keystone Realtors reports 45% decline in profit in June quarter of FY25
Q2FY25 financial results
Rustomjee Group on August 5 reported an almost 45% drop in profits from ₹47 crore in Q1FY24 to ₹26 crore in the June quarter of FY25.
The company’s pre-sales grew by 22% to ₹611 crore in Q1FY25 from ₹502 crore in Q3FY24.
The company’s total income went up to ₹437 crore in Q1FY25 from ₹282 crore in Q1FY24, the company had said.
