Mumbai-based real estate developer Keystone Realtors Ltd, also known as Rustomjee Group, on April 8 reported a 1% increase in sales bookings, reaching ₹854 crore for Q4FY25, compared to ₹843 crore in the same period last year.
₹854 crore for Q4FY25. (Picture for representational purposes only)(Pexels)” title=”Mumbai Real Estate Update: Keystone Realtors Ltd, also known as Rustomjee Group, reported a 1% growth in sales bookings, reaching ₹854 crore for Q4FY25. (Picture for representational purposes only)(Pexels)” />In FY25, the company reported a sales booking of ₹3,028 crore, a jump of around 34% from 2,266 crore in FY24.
“FY25 has been an eventful and successful year for our company, marked by impressive achievements across key performance metrics, including pre-sales, collections, business development and new launches. Our performance metrics have surpassed the guidance in most parameters, exemplified by the remarkable achievement in Pre-Sales for FY25, which amounted to Rs. 30.28 billion, reflecting a notable 34% YoY growth,” said Boman Irani CMD of Keystone Realtors.
According to Irani, the company’s customer fund collections also showed remarkable growth, reaching ₹2,326 crore for the entire 2024-25 period.
“The redevelopment opportunities in Mumbai remain a significant area of focus, and as a leader in this space, we are strategically positioned to capitalize on this momentum,” Irani said.
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“In 2024-25, we launched seven projects with an estimated GDV (gross development value) of ₹5,019 crore,” Irani said.
No link between the stock market and real estate demand?
Boman Irani had said earlier that salaried individuals and small business owners make up a strong base of home buyers for the company and there doesn’t seem to be a connection between the stock market and housing demand, at least not right now.
He made this statement while responding to a question during the investors’ call for Q3FY25 on February 11 on whether stock market fluctuations would impact housing demand.
Also Read: No link between stock market and real estate demand right now; Strong interest from salaried individuals: Boman Irani
Irani told HT.com in March 2025 that he does not foresee a decline in demand in the Mumbai real estate market despite some areas having experienced a cooling effect. He said that the company plans to expand into Tier 2 cities with senior living and plotted development projects.
Irani had said the company is preparing to launch a second plotted development project in Kasara, located near Mumbai.
