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

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

However, on a sequential basis, pre-sales are down 28% from the previous quarter, as against Rs 843 crore reported in the January-March quarter of fiscal 2023-24.

Revenue in the quarter stood at Rs 485 crore, down 2% YoY from Rs 495 crore reported in the same quarter last year and down 28% QoQ from Rs 670 crore in Q4FY24.

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

Boman Irani, CMD of Keystone Realty, said: “The first quarter of FY25 set the tone for the year and marks a turning point for our business as we build on the significant momentum of FY24. We are confident of delivering substantial value to all stakeholders as we navigate this year, with a strong upward trend expected 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 realise its ambitious growth plans.

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