Keystone Realtors Reports Q3 FY26 Sales Bookings Down by 3% to ₹837 Crore
NEW DELHI: Real estate firm Keystone Realtors Ltd reported a 3% decline in its sales bookings to ₹837 crore in the third quarter of this fiscal year. This is down from ₹863 crore in the corresponding period of the previous year. The company launched only one housing project during this quarter.
Keystone Realtors Ltd sells properties under the Rustomjee brand and is based in Mumbai. During the first nine months of this fiscal year, the company's sales bookings grew by 23% to ₹2,676 crore, compared to ₹2,174 crore in the same period last year, according to a regulatory filing.
Boman Irani, CMD of Keystone Realtors Ltd, highlighted the company's strong operational momentum. He stated that the October-December period marked a quarter of robust performance, reinforcing the strength of their business model, disciplined execution, and consistent growth. Keystone Realtors has achieved 67% of its pre-sales guidance for this financial year.
In the third quarter, the company launched one project with an estimated sales value of ₹919 crore. Over the first nine months of this fiscal year, it has launched five projects with a combined estimated sales value of ₹5,835 crore.
Irani expressed confidence in the company's ability to not only acquire new projects but also execute them efficiently. He noted that Keystone Realtors would continue to focus on redevelopment projects in Mumbai. Keystone Realtors is one of the leading real estate developers in the country, with a significant presence in the Mumbai Metropolitan Region (MMR).
The company's focus on redevelopment projects in Mumbai is a strategic move to capitalize on the high demand for modern, well-located properties in the city. Redevelopment projects often involve transforming old, dilapidated buildings into modern, high-rise residential and commercial complexes, which can significantly enhance the value and utility of the properties.
Despite the 3% decline in sales bookings in Q3, Keystone Realtors remains optimistic about its future prospects. The company's strong pipeline of projects and its focus on redevelopment in a key market like Mumbai position it well to navigate the challenges and opportunities in the real estate sector.
Keystone Realtors' commitment to quality and customer satisfaction has been a cornerstone of its success. The company's ability to deliver projects on time and within budget has earned it a reputation as a reliable and trusted developer in the industry. As the real estate market continues to evolve, Keystone Realtors is well-positioned to maintain its leadership and drive growth in the coming years.
