Shares of Keystone Realtors Ltd Shares shot up 5.8% on 9 July after the company reported a 22% year-on-year increase in pre-sales during the April-June quarter. 

In its regulatory filing, the company reported a 22% YoY increase in pre-sales to Rs 611 crore during the quarter under review from Rs 502 crore reported in the same quarter of the previous fiscal year. 

However, on a sequential basis, the pre-sales have dropped 28% quarter-on-quarter from Rs 843 crore reported in the January-March quarter of the fiscal year 2023-24. 

The collections during the quarter stood at Rs 485 crore, marking a 2% YoY decline from Rs 495 crore reported in the same quarter last year and a 28% QoQ decline from Rs 670 crore in Q4FY24.

The company has launched two new projects during the quarter that have a saleable area of 0.63 million square feet and have an approximate gross development value of Rs 2,017 crore. 

Boman Irani, CMD of Keystone Realty, said, “The first quarter of FY25 has set a tone for the year, marking an inflection point for our company as we continue to build on the significant momentum from FY24. We are confidently poised to deliver substantial value to all stakeholders as we navigate through this year, anticipating a strong uptrend in both acquisitions and launches.”

Earlier in May, the company raised Rs 8 crore through a qualified institutional placement (QIP) to further strengthen its financial position and achieve its ambitious growth plans. 

At 3:30 pm, the shares of Keystone Realtors closed 2.08% higher at Rs 684 on NSE.