Keystone Realtors eyes 32% growth in housing sales this year: CMD

Keystone Realtors has set a target of 32 per cent growth in its sale bookings this fiscal to Rs 3,000 crore on strong housing demand and is hopeful of crossing this number, its Chairman and Managing Director Boman Irani said.

Keystone Realtors, which sells its properties under Rustomjee brand, is one of the leading real estate developers in the country with a significant presence in Mumbai Metropolitan Region (MMR).

In an interview with PTI, Irani -- who is also president of realtors' apex body CREDAI -- noted that the demand in the housing market continues to be strong, encouraging the company to invest more in land acquisition and construction activities.

"We have a dry powder of around Rs 3,000 crore to make investments for growth. We raised Rs 800 crore from qualified institutional placement (QIP) plus our internal cash flow," he said.

Asked about the sale bookings outlook, Irani said, "We are targeting to achieve Rs 3,000 crore pre-sales this fiscal. We will cross that ...