Keystone Realtors Aims for 32% Growth in Housing Sales Bookings for FY26
Keystone Realtors Ltd, a leading real estate developer, targets to sell housing properties worth Rs 4,000 crore in FY26, marking a 32% annual growth. The company's CMD, Boman Irani, is confident of achieving this target due to strong demand for reputable brands.
Keystone RealtorsHousing SalesReal EstateBoman IraniMmrReal Estate NewsMay 18, 2025
Mumbai-based Keystone Realtors, which operates under the Rustomjee brand, is one of the leading real estate developers in India. The company has consistently achieved steady growth over the past few years. In an interview, Irani highlighted that Keystone Realtors surpassed all its guidance in the last fiscal, with pre-sales or sales bookings rising 34% to Rs 3,028 crore, exceeding the annual guidance of Rs 3,000 crore.
Irani expressed confidence in maintaining the company's growth momentum. He noted that the demand for apartments and residential plots remains strong, particularly in projects developed by reputed brands. When asked about the sales bookings target for FY26, Irani stated, 'We have given a pre-sales guidance of Rs 4,000 crore for the current fiscal and we are confident of achieving that.'
To meet the strong demand, the company has already launched a few projects in the last one-and-a-half months, and the launch pipeline is robust for the remainder of the fiscal year. In the last fiscal, Keystone Realtors launched projects worth Rs 5,000 crore, and the number is expected to surpass this in FY26.
Keystone Realtors will continue to invest in acquiring land parcels to expand its business. The expenditure on construction activities will also increase. In FY24, the company acquired 9 land parcels, which could generate sales potential of Rs 4,783 crore in the coming years. Irani emphasized that the company would continue to focus on the Mumbai Metropolitan Region (MMR) and a few other cities in Maharashtra.
Last week, Keystone Realtors reported a 69% increase in consolidated net profit to Rs 188.13 crore during the last fiscal year from Rs 111.03 crore in FY23. However, total income fell to Rs 2,121.44 crore last fiscal from Rs 2,275.63 crore in FY23. Irani, who is also the Chairman of realtors' apex body CREDAI, stated, 'This performance is a testament to the resilience of our strategy and the continued momentum we are experiencing.'
'The demand for our products remains robust. Our asset-light model, with a focus on redevelopment opportunities, particularly in MMR, continues to be a key driver of growth,' Irani added. Keystone Realtors has completed 37 projects and is currently constructing 16 projects. So far, the company has delivered over 26 million square feet of construction area, with a pipeline of over 40 million square feet of construction area in the works.
Frequently Asked Questions
What is Keystone Realtors' target for housing sales bookings in FY26?
Keystone Realtors aims to sell housing properties worth Rs 4,000 crore in FY26, marking a 32% annual growth.
How much did Keystone Realtors' pre-sales increase in the last fiscal year?
Keystone Realtors' pre-sales or sales bookings rose 34% to Rs 3,028 crore in the last fiscal year, exceeding the annual guidance of Rs 3,000 crore.
What regions will Keystone Realtors focus on in FY26?
Keystone Realtors will continue to focus on the Mumbai Metropolitan Region (MMR) and a few other cities in Maharashtra.
How much land did Keystone Realtors acquire in FY24?
In FY24, Keystone Realtors acquired 9 land parcels, which could generate sales potential of Rs 4,783 crore in the coming years.
What is Keystone Realtors' asset-light model focused on?
Keystone Realtors' asset-light model focuses on redevelopment opportunities, particularly in the Mumbai Metropolitan Region (MMR).
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