Latest news with #KeystoneRealtors
Business Standard
07-07-2025
- Business
- Business Standard
Keystone Realtors gains as collections rise 19% YoY in Q1, Surpassing FY26 GDV Guidance
Keystone Realtors added 1.32% to Rs 650.85 after the company announced that its collections jumped 19% to Rs 575 crore in Q1 FY26, compared to Rs 485 crore recorded in Q1 FY25. Sequentially, the firm's collections fell 23% in Q1 FY26, compared to Rs 747 crore recorded in Q4 FY25. The realtor reported pre-sales of Rs 1,068 crore for the quarter ended 30 June 2025, marking a year-on-year (YoY) growth of 75% and a quarter-on-quarter (QoQ) increase of 25%. The company sold 0.63 million square feet in Q1 FY26, representing a 159% increase year-on-year (YoY) and a 9% rise quarter-on-quarter (QoQ). During Q1 FY26, the company said it launched three projects with a total saleable area of 0.91 million square feet and an estimated gross development value (GDV) of Rs 40 billion. These projects included Rustomjee Balmoral at Chembur, Rustomjee Crescent at Pali Hill, and Rustomjee Cliff Tower at Bandra. The company also said that approximately 57% of the full-year FY26 guidance had already been achieved in Q1 FY26. The company also added that in Q1 FY26, it added three projects with a total saleable area of 3.25 million square feet and an estimated gross development value (GDV) of Rs 77.27 billion. These projects include GTB Nagar at Sion, Lokhandwala Cluster at Andheri West, and Swarganga CHSL at Dindoshi Nagar Cluster, Goregaon East. All three are redevelopment projects. The company stated that these strategic additions align with its goal to maintain and strengthen its leadership in the redevelopment space. It further highlighted that it has remarkably surpassed its full-year FY26 guidance in the very first quarter. Boman Irani, CMD of Keystone Realtors, said, Q1FY26 has laid a strong foundation for the year, marking a pivotal moment for our company as we build on the solid momentum carried over from FY25. We recorded pre-sales of Rs 10.68 billion, reflecting a robust 75% year-on-year growth. During the quarter, we launched three projects with an estimated Gross Development Value (GDV) of Rs 40 billion, representing nearly 57% of our full-year FY26 guidance achieved in just the first quarter. On the business development front, we secured three new projects in Q1FY26, adding a GDV of Rs 77.27 billion. With this, we have already surpassed our full-year FY26 guidance for new additions. Mumbai's redevelopment opportunities continue to be a key strategic focus, and our leadership in this segment positions us well to harness the potential it offers. Our outstanding performance in both business development and new launches underscores our agility in capturing market opportunities and driving sustained growth. Backed by a strong balance sheet, we are well capitalized and equipped to continue delivering long-term value to all stakeholders. We remain confident in our ability to maintain a strong growth trajectory in both acquisitions and project launches throughout the remainder of the year. We are confidently poised to deliver substantial value to all stakeholders as we navigate through this year." Keystone Realtors is a prominent real estate developer based in the Mumbai Metropolitan Region (MMR). The companys consolidated net profit surged 111.21% to Rs 64.80 crore, despite a 27.94% decline in revenue from operations to Rs 584.85 crore in Q4 FY25 over Q4 FY24.
Time of India
07-07-2025
- Business
- Time of India
Keystone Realtors Q1 sales bookings up 75% to Rs 1,068 cr on strong housing demand
Keystone Realtors Ltd on Monday said it has sold a record Rs 1,068 crore worth of properties in the first quarter of this fiscal, an annual increase of 75 per cent, on high demand. Mumbai-based Keystone Realtors sells properties under the ' Rustomjee ' brand. In a regulatory filing on Monday, the company informed that it has clocked pre-sales of Rs 1,068 crore in the first quarter of 2025-26 as compared to Rs 611 crore in the corresponding period of the preceding year. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This may be of interest to you! Undo Keystone Realtors said it is the "best ever Q1 pre-sales of the company." The collection of funds from customers rose 19 per cent to Rs 575 crore from Rs 485 crore. Live Events Keystone Realtors launched three projects in the first quarter, having a saleable area of 0.91 million sq ft and an estimated GDV (gross development value) of Rs 4,000 crore. Under new business development, the company bagged three housing societies redevelopment projects during the latest June quarter. This will help the company to generate revenue of Rs 7,727 crore. "We added 3 projects in Q1, FY26, having a saleable area of 3.25 million sq ft and estimated GDV of Rs 77.27 billion. All 3 are redevelopment projects," the company said. Keystone Realtors is one of the leading real estate developers in the country. It has a significant presence in the Mumbai Metropolitan Region (MMR) property market.
Business Upturn
07-07-2025
- Business
- Business Upturn
Keystone Realtors shares jump 3% after Q1 pre-sales jump 75% YoY to Rs 1,068 crore
Keystone Realtors shares rose 3% after the company posted a strong performance for Q1 FY26. The highlight was a 75% year-on-year jump in pre-sales to ₹10.68 billion—its best-ever Q1 figure—driven by solid demand, new launches, and healthy project additions. On a quarter-on-quarter basis, pre-sales rose 25%. Collections during the quarter came in at ₹5.75 billion, up 19% YoY, although slightly lower than ₹7.47 billion reported in Q4 FY25. Advertisement Three projects were launched this quarter—Rustomjee Balmoral (Chembur), Rustomjee Crescent (Pali Hill), and Rustomjee Cliff Tower (Bandra)—adding 0.91 million sq ft of saleable area and a GDV of ₹40 billion. Impressively, this accounts for 57% of the company's full-year launch guidance. Keystone also made headway in business development, adding three redevelopment projects in Sion, Andheri West, and Goregaon East. These projects bring in 3.25 million sq ft of potential saleable area and a GDV of ₹77.27 billion—surpassing the company's FY26 project addition target in just one quarter. On top of this, credit rating agency ICRA upgraded Keystone's rating to 'ICRA A+' with a stable outlook, citing its improved financials and business momentum. The stock opened at ₹654, hit a high of ₹675.40, and stayed strong through the day. It's currently trading well above its 52-week low of ₹480.05, though still below the 52-week high of ₹801.05. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
&w=3840&q=100)
Business Standard
06-07-2025
- Business
- Business Standard
Construction tech adoption lags in Indian real estate amid cost hurdles
Despite availability of BIM, modular, and 3D technologies, Indian construction firms remain hesitant due to cost, labour economics, and limited developer scale Mumbai Listen to This Article Even as sectors across India embrace technological transformation, the construction side of the real estate industry continues to trail global trends. While technologies like Building Information Modelling (BIM), 3D printing, drone surveillance, and IoT-enabled smart building systems are increasingly common overseas, their adoption in Indian construction remains limited and largely experimental, developers say. Boman Irani, Chairman and Managing Director, Keystone Realtors (Rustomjee Group), said, 'With Building Information Modelling (BIM), 3D is already there, which saves time and cost. All of this put together is a sign of the future, but it has still not hit majorly. When 3D printing came
Business Standard
02-07-2025
- Business
- Business Standard
Keystone Realtors chosen for ₹3K cr cluster redevelopment project in Mumbai
Mumbai-based Keystone Realtors (Rustomjee Group) has been selected by eight housing societies as the developer for the redevelopment of these societies as a cluster redevelopment in Andheri West, Mumbai. The project's gross development value (GDV) is estimated to be around ₹3,000 crore. The development agreement (DA) has already been executed with five societies, while letters of intent (LoIs) have been received from the remaining three, with DA execution expected over the next few days. The project involves the redevelopment of a cluster of private housing societies located in Andheri West (Lokhandwala), with a cumulative plot area of approximately 4.75 acres (19,229 square metres), encompassing 548 existing members. The proposed redevelopment is expected to unlock a saleable area of approximately 10.6 lakh square feet for Rustomjee. Boman Irani, chairman and managing director, Keystone Realtors (Rustomjee Group), said: 'We are proud to have been selected as the preferred redevelopment partner for this large-format society cluster in Andheri West — one of Mumbai's most dynamic residential neighbourhoods. With a GDV of nearly ₹3,000 crore and a significant development footprint, this project exemplifies our focus on scale, location, and value creation.' Recently, the company received the letter of acceptance (LoA) for the redevelopment of 25 buildings in GTB Nagar of Mumbai's Sion Koliwada, with a GDV of ₹4,521 crore, from the Maharashtra Housing and Area Development Authority (Mhada). Additionally, in the last one year (April 2024–March 2025), Andheri West has seen 1,410 new property sale transactions with a gross sales value of ₹3,638 crore, according to Square Yards Data Intelligence, a real estate data analytics firm. The average property rate in the area stood at ₹49,244 per square foot as of the first quarter of the calendar year 2025 (Q1 CY25), compared to ₹47,416 per square foot in Q1 CY24.
