August 5, 2024: MMR based real-estate company Keystone Realtors records pre-sales of Rs 6.11 bn (i.e. Rs 611 crore), witnessing a YOY growth of 22%, according to the financial results announced by the company for Q1 FY25. The company registered collections of Rs 4.85 bn (i.e. Rs 485 crore) and operating cash flows of Rs 1.08 bn (i.e. Rs 108 crore).
Further, during the quarter, the company recorded revenue of Rs 4.22 bn (i.e. Rs 422 crore) and EBITDA of Rs 0.58 bn (i.e. Rs 58 crore). The Profit After Tax (PAT) was Rs 0.26 bn (i.e. Rs 26 crore). According to the official release, the company added one project with an estimated GDV of Rs 9.84 Bn (i.e. Rs 984 crore) and two project buildings with a GDV of Rs 20.17 Bn (i.e. Rs 2017 crore) during Q1 FY25.
The gross debt secured was at Rs 4.58 bn (i.e. Rs 458 crore) and gross debt/equity ratio was 0.18 as on Q1 FY25. The Net Debt stands at Nil at the end of the quarter.
Boman Irani, chairman and managing director, Keystone Realtors Limited, said “In this quarter, we launched two new projects with an estimated GDV of Rs 2017 crore, perfectly aligned with our guidance of launching two projects per quarter. Additionally, we added one more project with an estimated GDV of Rs 984 crore, further strengthening our already robust project portfolio across the length and breadth of MMR. The successful raise of Rs 800 crore equity via QIP will play pivotal role in driving our growth strategy facilitating the acquisition of new projects and New Launches, thus accelerating growth in pre-sales. With a promising pipeline of launches and our strategic foray into the plotted development in Kasara, we feel that we are at an inflection point to enter an era of high growth. We are poised for an exciting journey ahead, generating value for our stakeholders and enriching the urban living experience.”
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