Keystone Realtors Set To Surpass Rs 4,000-Crore Guidance In FY26: Executive Director
The company has achieved one-fourth of its guidance for FY26 in the first quarter.
Keystone Realtors Ltd. is confident of surpassing its guidance of Rs 4,000 crore in pre-sales in FY26, according to Executive Director Chandresh Mehta.
"We normally under-promise and overdeliver. By and large, the first quarter is a slow quarter and we have grown 75% year-on-year and quarter-on-quarter, we have seen a 25% growth," he said in an interview with NDTV Profit on Tuesday.
"We have given guidance of about Rs 4,000 crore for this particular financial year. We have already done one-fourth of it in the first quarter and we are well on our way to surpassing our guidance," Mehta said.
In an exchange filing on July 7, the Mumbai-based developer reported a pre-sales of Rs 1,068 in Q1 FY26. It is the best Q1 pre-sales the company has ever reported. Its collections stood at Rs 575 crore in Q1 FY26, a 19% year-on-year increase.
"We have acquired close to 18 projects in the last two and a half years with a total GDV (gross development value) of around Rs 20,000 crore and this quarter, we have added another Rs 7,000 crore of projects," the executive director added.
The company is also expanding its footprint within and beyond the Mumbai Metropolitan Region. "By and large, we intend to be present in all relevant micro-markets as far as MMR is concerned. MMR constitutes close to 42% of the recognised residential real estate market of the country. We have got a strong rank in this particular market, and we intend to exploit that," Mehta said.
The company is exploring plotted development markets in Alibaug, Palghar and “anything in and around Mumbai". He confirmed the company is already present in areas like Virar and Thane, and is actively looking to make an entry into Navi Mumbai.
Answering a question on the rising cost of projects, Mehta said that the company has been successful in passing on the increased prices to homebuyers.
"We have been continuously able to at least protect our margin. So, if there are any cost increases, yes, there are certain cost increases, we have been able to pass it on to the end consumer and the end consumer is willing to absorb those," the top executive said.
The realty firm is also making an entry into Nagpur with a project worth Rs 1,000 crore in terms of GDV. "Wherever infrastructure goes, development has to follow. I think it's going to be a city of the future," he said.
Mehta described the move as a stepping stone to potentially expanding the company’s geographical footprint within Maharashtra.
