Keystone Realtors Limited, a prominent MMR-based real estate company engaged in the development of residential and commercial developments, has announced its financial results for the fourth quarter of FY24.
Commenting on the company's performance, Boman Irani, Chairman and Managing Director of Keystone Realtors Limited, said: We would like to express our sincere gratitude to all our stakeholders for their continued support and trust.
“In FY24, Rustomjee Group delivered an exceptional performance with booking sales of Rs 100 crore in FY24. Rs 2,266 Cr, an impressive 41% YoY growth, well above our guidance of 25%. Looking ahead, we expect presales to continue its upward trajectory, driven by our strong new product pipeline and unwavering customer trust. Dedication pervades every aspect of our operations.During the fiscal year, we launched six additional developments with an estimated marketable area of 1.68 million square feet. With the addition of five new developments during the fourth quarter, the company added 10 new developments for the year with an estimated developable area of 4.1 million square feet. With a pipeline of promising new products, we have reached a tipping point as we enter a period of exponential growth, creating value for our stakeholders. , we feel ready for an exciting journey that will enrich our urban living experience.”
Financial Highlights for Q4 FY24 – Presales Rs 8.43 billion/Collections Rs 6.7 billion
FY24 Performance Highlights – Pre-sales Rs 22.66 billion/Collections Rs 22.03 billion
Financial Highlights – Consolidated Q4 FY2024 – Revenue 8.12 billion rupees/EBITDA 0.67 billion rupees/PAT 0.31 billion rupees.
Financial Highlights – Consolidated FY2024 – Revenue 22.2 billion rupees/EBITDA 1.63 billion rupees/PAT 1.12 billion rupees
During the fourth quarter of 2024, we added five developments with an estimated salable area of 1.9 million square feet. With this, the company has added a total of 10 developments with an estimated salable area of 4.1 million square feet during FY24.
During the fourth quarter of 2024, the Company completed six buildings with 1.46 million square feet of developable area. As a result, the Company will have completed 12 buildings with a developable area of 4.65 million square feet in fiscal 2024. Secured debt.
Total debt stands at around Rs 7,650 crore and total debt-to-equity ratio stands at 0.43 as of FY24. Net debt stands at around Rs 3,590 crore, with a net debt-to-equity ratio of 0.20 at the end of FY24.
The real estate industry in the Mumbai Metropolitan Region (MMR) is on a promising growth trajectory, offering a wealth of opportunities to Rustomjee Group. Our focus on redevelopment, expansion and competitive advantage from our unique strengths within the MMR region positions us well for sustained success. Our asset-light business model, effective stakeholder management, customer-centric approach, technological advances, trusted vendor relationships, and experienced leadership team continue to drive growth and deliver superior value. I'll go. Keystone operates across a wide range of residential sectors and is confident of continuing as a leading developer and preferred partner in the (re)development sector.
