Keystone Realtors Ltd reported a 42 percent decrease in its sales bookings, reaching ₹617 crore for the quarter ending in June, primarily because the company did not introduce any new projects during this period.
Comparison with the previous period
In the same quarter last year, the company sold real estate properties, mainly residential, worth ₹1,068 crore. Keystone Realtors, a registered developer based in Mumbai, presented its operational report for the April-June quarter of the financial year 27.
Reasons and Company Expectations
The company attributed the decline to the fact that preliminary sales in the first quarter of financial year 27 were supported by steady sales of existing projects, reflecting sustained buyer interest and homeowner confidence in the company's projects. Keystone Realtors noted that due to the overall improvement in the economic situation caused by geopolitical stability, sales growth is expected in subsequent quarters.
Financial Performance and Plans
Furthermore, customer receipts in the first quarter of financial year 27 reached ₹599 crore compared to ₹575 crore the previous year. Boman Irani, Chairman of the Board of Directors of Keystone Realtors Ltd, stated that the first quarter of financial year 27 marked a confident start to the year, building on the strong momentum achieved in financial year 26. He also mentioned that the company has a substantial portfolio of planned launches within the Mumbai Metropolitan Region (MMR) in the coming quarters.
Business Development and Prospects
Irani emphasized that these new projects should strengthen the company's market position and help achieve the preliminary sales targets for financial year 27. Based on its execution capabilities, disciplined project delivery, and favorable market conditions, Irani believes the company is well-positioned to ensure sustainable growth. In terms of business development, Keystone Realtors added two land parcels during June, which could bring a total estimated revenue of ₹713 crore. Keystone Realtors is recognized as one of the leading developers in the country with a significant presence in the MMR market.