Keystone Realtors Ltd
NSE:RUSTOMJEE
Keystone Realtors Ltd
Keystone Realtors Ltd. engages in the provision of construction and real estate services. The company is headquartered in Mumbai, Maharashtra. The company went IPO on 2022-11-24. The firm provides various residential buildings, premium gated estates, townships, corporate parks, retail spaces, schools, iconic landmarks and various other real estate projects. The company offers one bedroom, hall, and kitchen (BHK), two BHK, three BHK, four BHK, and five BHK. The company has 32 completed projects, 12 ongoing projects and 19 forthcoming projects across the Mumbai Metropolitan Region (MMR). Its properties include Rustomjee Erika, Rustomjee Uptown Urbania, Rustomjee Bella, Rustomjee Elements, Rustomjee Urbania, Rustomjee Paramount, Rustomjee Summit, Rustomjee Seasons, Rustomjee Global City, Rustomjee Yazarina III, Rustomjee Garden 6, Rustomjee Crown, and Rustomjee Central Park Business Spaces.
Record Presales: Keystone Realtors posted its highest-ever quarterly presales at INR 1,068 crores, up 75% year-on-year, capturing over 25% of its full-year target in just Q1.
Strong Project Launches: The company launched three projects with a Gross Development Value (GDV) of INR 3,967 crores—twice the value of launches in the same quarter last year.
Business Development Outperformance: Keystone added projects with a combined GDV of INR 7,727 crores in Q1, surpassing its full-year business development guidance by more than 1.25x.
Collections Growth: Collections reached INR 575 crores, up 19% year-on-year, reflecting strong customer confidence.
Financial Strength: The company reported revenue of INR 273 crores, operating cash flow of INR 118 crores, and ended the quarter with no net debt and INR 714 crores in free cash.
Guidance Maintained: Despite the strong quarter, management chose to maintain its INR 4,000 crores presales guidance for the full year, promising to revisit after Q2.
Credit Rating Upgrade: ICRA upgraded the company's rating to A+ with a stable outlook.
Cluster Redevelopment Focus: There is a strategic shift towards large cluster redevelopment projects, with several major clusters acquired and a robust pipeline ahead.
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