The company recorded pre-sales of ₹617 crore for the quarter, a decrease of 42% compared to ₹1,068 crore in the same period last year. This decline was primarily attributed to the lack of new project launches, with sales predominantly driven by consistent demand in existing projects.
Despite the drop in pre-sales, collections increased by 4% year-on-year to ₹599 crore, bolstered by cash inflows from previously sold units and ongoing sales initiatives. The company stated that robust collections continue to enhance its liquidity position.
The total area sold during the quarter amounted to 0.32 million sq. ft., a 49% decline from the previous year’s period. Looking forward, Keystone Realtors anticipates an increase in sales momentum as it gears up to launch several projects across the Mumbai Metropolitan Region (MMR) in the upcoming quarters. Furthermore, the company expects improving macroeconomic conditions and reduced geopolitical tensions to boost housing demand.
On the development front, the company introduced two new projects during the quarter, offering a combined saleable area of 1.98 million sq. ft. with an estimated gross development value (GDV) of ₹713 crore.
These additions include the Utkarsh CHSL redevelopment project in Goregaon East and a plotted development project in Igatpuri. According to the company, these projects enhance its redevelopment portfolio while broadening its footprint in the plotted development sector.
Additionally, during the quarter, Keystone Realtors completed Rustomjee Ashiana in Juhu, which has a construction area of 0.07 million sq. ft.
Commenting on the company’s performance, Chairman and Managing Director Boman Irani noted that the June quarter marked a stable start to FY27, even in the absence of new launches. He emphasized that the company’s robust pipeline of upcoming launches across the MMR is expected to support its pre-sales targets for the year.
Irani also mentioned that Keystone Realtors is well-positioned to seize growth opportunities, supported by a solid balance sheet, ample liquidity, and a continued focus on project execution.
