Realty company Keystone Realtors announced Q3FY24 & 9MFY24 results:
- Pre-Sales during Q3FY24 is Rs 6.16 billion (up 101% QoQ) & Rs 14.23 billion for YTD Q3FY24 (26% YoY)
- Collection during Q3FY24 is Rs 4.52 billion & Rs 15.33 billion for YTD Q3FY24 (32% YoY)
- Launched 4 projects with an estimated GDV of ~Rs 22.4 billion in 9MFY24
- Added 5 projects having an estimated GDV of ~Rs 51 billion in 9MFY24
- Completed 6 RERA projects having a construction area of 3.36 mn sqft in 9MFY24
- Generated Operating Cash Flow (OCF) of ~Rs 3.55 billion in 9MFY24 representing a YoY growth of 27%
Commenting on the company’s performance, Boman Irani, Chairman and Managing Director, Keystone Realtors, said, “For Q3FY24, the company has demonstrated good progress in terms of Pre-Sales, new project additions and new launches. We are thankful to all our stakeholders for their continued support and trust in us. "In Q3FY24, Rustomjee Group delivered a remarkable performance, achieving a substantial increase in Pre-Sales, which rose to Rs 6.16 billion, showcasing a remarkable 101% QoQ increase. Looking ahead, we estimate a sustained growth trajectory in Pre-Sales, fueled by our robust launch pipeline and the unwavering trust of our customers. Beyond the numbers, our commitment to excellence is evident in every facet of our operations. This financial Year has witnessed the launch of four projects, each meticulously curated to meet the diverse needs of our discerning customers. Moreover, the addition of five new projects in this year underscores our strategic focus on expanding our footprint and venturing into promising geographies. These projects, with an estimated GDV of ~Rs 51 billion which surpassed acquisition done in previous year, reflect our dedication to creating spaces that transcend traditional notions of living. The fact that most of these projects are redevelopment projects further strengthens our position as redevelopment developers. Additionally, the inclusion of 2-3 large projects in the Aspirational/Mid and Mass segments reflects a continued focus on these specific market segments. In the realm of completions, we take pride in having delivered six RERA projects in 9MFY24. This not only indicates our operational efficiency but also signifies the fulfillment of promises made to our homebuyers. As we navigate the growing dynamic real estate landscape, our focus remains steadfast on customer satisfaction, quality construction, and sustainable growth. With the promising launch pipeline, we are poised for an exciting journey ahead, creating value for our stakeholders and contributing to the vibrant tapestry of urban living."