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Rustomjee Group reports strong operational performance in Q2FY24

Oct 10, 2023

By: BlinkX Research Team

Keystone Realtors, which operates under the brand Rustomjee Group, has released key operational updates for the second quarter of FY24, demonstrating robust growth and performance.

Pre-Sales and Collections: In Q2 FY24, the company achieved Pre-Sales of ₹306 crores, and the total Pre-Sales for the first half of FY24 reached ₹807 crores. This represents a notable 16% year-on-year growth compared to ₹698 crores in H1FY23. Additionally, collections during Q2 FY24 amounted to ₹585 crores, with H1 FY24 collections reaching ₹1080 crores, marking an impressive 45% year-on-year growth compared to ₹747 crores in H1FY23.

Business Development: Keystone Realtors added one more project with an estimated Gross Development Value (GDV) of ₹1150 crores during Q2FY24. In total, the company has added four projects in H1FY24, with an estimated GDV of ₹3644 crores.

Completions: During Q2FY24, the company successfully completed five projects, encompassing a construction area of 31.2 lakh square feet.

Mr. Boman Irani, CMD of Keystone Realtors Limited, expressed satisfaction with the company's Q2FY24 operational performance. He highlighted the completion of five projects and the addition of four new projects in H1FY24, contributing to robust collections and Pre-Sales growth. With the festive season underway and a planned project launch pipeline for the remaining half of FY24, the company maintains its confidence in achieving Pre-Sales growth.

Please note that the provided figures are provisional and subject to audit, and this disclosure is in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.