Keystone Realtors posts 100% Profit: Pre-sales bookings hit Rs. 700 crore in Q2FY24

Keystone Realtors, a top real estate company based in Mumbai and also known as Rustomjee Group declared that their Pre-sales bookings surged by more than 100 percent to Rs.700 crore in the Q2 of the financial year 2024.

Owing to the enormous demand, the realtor announced that their pre-sales bookings made the company’s financial statements to hit the maximum value ever.

Speaking to this, Boman Irani, CMD of Keystone Realtors says, "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”.

According to him, the company Keystone Realtors started three projects in the September quarter that might have brought in ₹2,040 crore in sales. Irani said that in the second quarter of this fiscal year, the company added three more new redevelopment projects, bringing its total GDV (gross development value) to ₹1,333 crore.

The Rustomjee Group had declared its entry into the plotted development market in July 2024.

Fyrther 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”.

Boman Irani, also the president of the realtors' apex body CREDAI, highlighted that strong demand in the housing market is prompting the company to increase its investments in land acquisition and construction activities.