Keystone Realtors Ltd - Key Operational Updates for Q1 FY2025

Pre-Sales: Pre-Sales of INR 6.11 bn in Q1FY25 as compared to INR 5.02 bn in Q1FY24, showing a growth of 22% YoY basis.

Collections: Collections are at INR 4.85 bn in Q1FY25 as compared to INR 4.95 bn in Q1FY24

New Launches: Launched 2 projects (180 Bayview in Matunga West & Ocean Vista in Versova) in Q1FY25 having saleable area of 0.63 mn sq ft and estimated GDV of INR 20.17 bn in line with our guidance of launching 2 project a quarter.

Business Development: We added 1 Project in Q1FY25 having saleable Area of 0.35 mn sq ft and estimated GDV of INR 9.84 bn. This is a redevelopment project. These strategic additions align with our goal to maintain and strengthen our leadership in the redevelopment space.

Successfully completed the Fund raise of INR 8 bn through QIP in May 2024. This further strengthens our financial position to achieve our ambitious growth plan.

Credit Rating: ICRA has upgraded the credit rating of the Company to "ICRA A" from "ICRA A-". The outlook on the long-term rating is Positive

Commenting on the Company's operational performance for Q1FY25, Mr. Boman Irani, CMD of Keystone Realtors Limited, said "The first quarter of FY25 has set a tone for the year, marking an inflection point for our company as we continue to build on the significant momentum from FY24. In line with our guidance, we have successfully launched two projects this quarter, having estimated GDV of INR 20.17 billion. This demonstrates our commitment to sustained growth and our readiness for multiple launches this year. We have achieved Pre-Sales of INR 6.11 billion, a strong 22% YoY growth in addition to adding another redevelopment project in this quarter having GDV of IBR 9.84 bn. This aligns with our strategic goals and underscores our ability to meet and exceed our targets. The company is all geared up to not only acquire new projects but also bring them to launch stage efficiently. The impressive 41% YoY growth in Pre-Sales in FY24, surpassing our 25% guidance, is a testament to our strategic direction and operational excellence. We are confidently poised to deliver substantial value to all stakeholders as we navigate through this year, anticipating a strong uptrend in both acquisitions and launches."

Please note that aforesaid nos. are provisional and subject to audit.

Shares of Keystone Realtors Limited was last trading in BSE at Rs. 670.95 as compared to the previous close of Rs. 668.00. The total number of shares traded during the day was 2507 in over 158 trades.

The stock hit an intraday high of Rs. 700.00 and intraday low of 668.50. The net turnover during the day was Rs. 1706347.00.

Source : Equity Bulls

Keywords

KeystoneRealtors INE263M01029 Residential Commercial KeyOperationalUpdates Q1FY2025