Keystone Realtors gains after Q4 PAT soars to Rs 65 cr

Profit before tax (PBT) soared 105.55% to Rs 86.62 crore in Q4 FY25, compared with Rs 42.14 crore in Q4 FY24.

EBITDA stood at Rs 107 crore, registering the growth of 59.7%, compared with Rs 67 crore posted in corresponding quarter last year. EBITDA margin expanded to 16.7% in Q4 FY25 as against 8.1% in Q4 FY24.

Pre-sales rose 1% YoY to Rs 854 crore in Q4 FY25, compared to Rs 843 crore in the same quarter last year. Collections grew 11% to Rs 747 crore in Q4 FY25, up from Rs 670 crore in Q4 FY24.

In Q4 FY25, the area sold jumped 53% to 0.58 million square feet, compared with 0.38 million square feet in Q4 FY24.

During the quarter, the company added 3 projects with an estimated gross development value (GDV) of Rs 1,487 crore.

Gross Debt stands at around Rs 316 crore and gross debt/equity ratio is 0.12 as on Q4FY25.

On full year basis, the company's consolidated net profit jumped 53.25% to Rs 171.96 crore, despite a 9.82% decline in revenue from operations to Rs 2,004.10 crore in FY25 over FY24.

During FY25, the company added 9 projects with an estimated GDV of Rs 4,783 crore surpassing its FY25 guidance of Rs 4,000 crore.

On outlook front, the company said that Mumbai Metropolitan Region (MMR) real estate industry is on a promising growth trajectory, offering abundant opportunities for the Rustomjee Group. With a strong focus on redevelopment, expansion within the MMR region, and the competitive advantage of the company's unique strengths, It is well-positioned for sustained success. The company further noted that asset-light business model, effective stakeholder management, customer-centric approach, technological advancements, reliable vendor relationships, and experienced leadership team will continue to drive growth and deliver exceptional value. It operates across a wide spectrum of housing segments and is confident of continuing as a dominant developer and a preferred partner in (re)development projects.

Boman Irani, chairman and managing director, Keystone Realtors, said, 'I'm pleased to share that we have successfully achieved most of our guidance on operational parameters for FY25 with the Pre-Sales guidance for FY25 demonstrating strong execution and market alignment in the pre-sales phase, thanks to a series of strong launches of 7 projects having GDV of Rs 5,019 crore in FY25. I'm excited to report that our Pre-Sales for Q4FY25 have reached Rs 854 crore and for FY25 Pre-Sales have reached Rs 3,028 crore reflecting a 34% YoY growth.

With collections efficiency of approximately 77% we have strong collections of Rs 2,327 crore in FY25 compared to Rs 2,203 crore in FY24. In FY25, we added 9 projects with GDV of Rs 4,783 crore further reinforcing our growth trajectory. In FY25 we completed 5 projects with construction area totaling 0.72 mn sqft.

The demand for our products remains robust, and we're excited about the strong pipeline of upcoming launches for FY26. Our asset-light model, with a focus on redevelopment opportunities, particularly in Mumbai MMR, continues to be a key driver of growth. '

Meanwhile, the company's board recommended a final dividend of Rs 1.50 per equity share of Rs 10 each for the financial year ended March 31, 2025, subject to the approval of shareholders at the ensuing annual general meeting(AGM). The company has fixed the record date as Friday, 23 May 2025.

Keystone Realtors is a prominent real estate developer based in the Mumbai Metropolitan Region (MMR).

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