Keystone Realtors Targets 32% Growth in Housing Sales for FY26
Mumbai-based Keystone Realtors, known for selling properties under the Rustomjee brand, aims to achieve a 32% growth in housing sales bookings for the fiscal year 2026, driven by strong demand for reputable brands.
Real EstateKeystone RealtorsHousing SalesBoman IraniRustomjeeReal Estate MumbaiMay 18, 2025
Mumbai-based Keystone Realtors, which sells properties under the Rustomjee brand, is one of the leading real estate developers in the country.
“We have achieved steady and consistent growth during the last 2024-25 fiscal and surpassed all our guidances,” Irani told PTI in an interview when asked about the company's performance.
He highlighted that the company's pre-sales or sales bookings rose 34 per cent to Rs 3,028 crore last fiscal year, beating the annual guidance of Rs 3,000 crore.
The demand for apartments as well as residential plots remains strong, especially in projects developed by reputed brands, Irani said, while exuding confidence in maintaining the company's growth momentum.
Asked about the sales bookings target for 2025-26, Irani said, “We have given a pre-sales guidance of Rs 4,000 crore for the current fiscal and we are confident of achieving that.” He said the company has already launched a few projects in the last one-and-a-half months and the launch pipeline is robust for the remaining period of this fiscal to meet the demand, which has been quite strong post-COVID pandemic.
In the last fiscal, Irani said the company launched projects worth Rs 5,000 crore and the number will surpass in the 2025-26 financial year.
Keystone Realtors will continue to invest in acquiring land parcels to expand its business. The expenditure on construction activities too will rise.
In 2024-25, Keystone Realtors acquired 9 land parcels, which could generate sales potential of Rs 4,783 crore in the coming years.
Irani said the company would continue to focus on the Mumbai Metropolitan Region (MMR) and a few other cities in Maharashtra state.
Last week, Keystone Realtors reported a 69 per cent increase in consolidated net profit to Rs 188.13 crore during the last fiscal from Rs 111.03 crore in 2023-24.
Total income fell to Rs 2,121.44 crore last fiscal from Rs 2,275.63 crore in the 2023-24 financial year.
“This performance is a testament to the resilience of our strategy and the continued momentum we are experiencing,” said Irani, who is also Chairman of realtors' apex body CREDAI.
“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,” he said.
Keystone Realtors has completed 37 projects and is 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 in FY26?
Keystone Realtors targets to sell housing properties worth Rs 4,000 crore in FY26, aiming for a 32% annual growth.
How did Keystone Realtors perform in the last fiscal year?
In the last fiscal year, Keystone Realtors achieved a 34% increase in pre-sales or sales bookings, reaching Rs 3,028 crore, surpassing their annual guidance of Rs 3,000 crore.
What is the focus of Keystone Realtors' business strategy?
Keystone Realtors focuses on the Mumbai Metropolitan Region (MMR) and a few other cities in Maharashtra, with an asset-light model and a focus on redevelopment opportunities.
What is the company's investment plan for the upcoming fiscal year?
Keystone Realtors plans to continue investing in acquiring land parcels and increasing construction activities to expand its business.
How many projects has Keystone Realtors completed and what is their current construction pipeline?
Keystone Realtors has completed 37 projects and is currently constructing 16 projects. They have delivered over 26 million square feet of construction area and have a pipeline of over 40 million square feet.
Related News Articles
Taiwan's Real Estate Industry Shines with ESG Focus at 2024 FIABCI-Taiwan Excellence Awards
The 2024 FIABCI-Taiwan Real Estate Excellence Awards celebrate ESG initiatives, architectural aesthetics, and sustainable development in Taiwan's real estate industry.
Sonakshi Sinha's Stylish Bandra Apartment Hits the Market for Rs 25 Crore
Bollywood actress Sonakshi Sinha's sea-view apartment in Bandra is up for sale, just months after her wedding. The 4,200 sq ft apartment boasts stunning views of the sea and is listed for Rs 25 crore.
Abhinandan Lodha's Real Estate Expansion: Buying Land in 13 New Cities
Abhinandan Lodha, a prominent figure in the real estate industry, is set to expand his property portfolio by acquiring land in 13 new cities. This strategic move aims to capitalize on emerging market opportunities and diversify the company's presence acro
Bengaluru Property Market Faces Decline: Reddit User Warns of Default Risks
East Bengaluru experienced an 18% drop in residential sales in Q3 2024, while North Bengaluru saw a 6% decline. A Reddit user has highlighted potential risks in Bengaluru's property market, including the possibility of more defaults on home loans.
ITC Acquires Pulp and Paper Division of Aditya Birla for ₹3,498 Crore
ITC Ltd is set to acquire the pulp and paper division of Aditya Birla Real Estate Ltd (formerly Century Textiles & Industries) for ₹3,498 crore, a move that will significantly bolster its presence in the paper and packaging industry.
Adani Group Secures Prime Land on Mumbai’s Carmichael Road for Over Rs 10.46 Crore
The Adani Group has made a significant property acquisition in Mumbai, purchasing prime land on Carmichael Road for more than Rs 10.46 crore. This strategic move underscores the group's growing interest in premium real estate.