Keystone Realtors expects to surpass Rs 4,000 cr FY25 projects addition guidance
Keystone Realtors, which operates under the brand Rustomjee, is confident of exceeding its guidance of Rs 4,000 core for project additions during the current financial year 2024-25 in the backdrop of a robust deal pipeline, said a top company official.
The listed company has added 3 new projects with a total gross development value (GDV) of over Rs 1,333 crore in the quarter ended September taking it to over Rs 2,300 crore in the first half of the financial year.
Apart from these projects in the redevelopment space, the company has also forayed into the fast-growing market for plotted developments with the acquisition of an 88-acre plot in Kasara near Mumbai.
“We will continue to follow the asset-light model, with redevelopment serving as a key driver of growth. The redevelopment potential in Mumbai is vast, andwe are strategically positioned to capitalize on the current momentum. With a strong balance sheet and robust capitalization, we are fully prepared to seize these opportunities and drive sustainable value creation,” said Boman Irani, CMD, Keystone Realtors.
According to him, the company has dry powder of over Rs 900 crore including internal accruals and the recent fund raising and the same is expected to be used for key project acquisitions over the next 9 months.
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