Keystone Realtors Limited | Globe Capital
Keystone Realtors Limited
Closed
Price Band
Rs 514-541
IPO Issue Period
Nov 14, 2022 to Nov 16, 2022
Issue Size
635.00 Cr
Face value
Rs. 10
Fresh issue
560.00Cr.
Offer for sale
75.00 Cr
Minimum Shares for Retail
27Shares
Listing on
NSE, BSE
Issue Type
Book Building
Registrar to the Issue
Link Intime India Private Ltd
Tentative Listing Date
Nov 24, 2022
QIB
Not More than 50% of the offer
NII
Not less than 15% of the offer
Retail
Not less than 35% of the offer

Axis Capital Limited
Credit Suisse Securities

Incorporated in 1995, Keystone Realtors Limited is one of the prominent real estate developer. The company is engaged primarily in the business of real estate construction, development and other related activities in India.

As of June 30, 2022, the company had 32 Completed Projects, 12 Ongoing Projects and 21 Forthcoming Projects across the Mumbai Metropolitan Region (“MMR”) that includes a comprehensive range of projects under the affordable, mid and mass, aspirational, premium and super premium categories, all under the Rustomjee brand.

June 30, 2022, Keystone Realtors have developed 20.22 million square feet of high-value and affordable residential buildings, premium gated estates, townships, corporate parks, retail spaces, schools, iconic landmarks and various other real estate projects.

As part of the business model, the company is entering into joint development agreements, redevelopment agreements with landowners or developers or societies, and slum rehabilitation projects, which requires lower upfront capital investment compared to direct acquisition of land parcel.

The company have adopted an integrated real estate development model for every stage of the property development life cycle, commencing from business development, which involves the identification of land parcels and the conceptualization of the development, to execution, comprising planning, designing and overseeing the construction activities, marketing and sales.

As of June 30, 2022, The company have developed over 280 buildings and homes for over 14,000 families.

For year/ period ended ( in Cr.)

H1FY22 FY21 FY20
Total Revenue 1269.4 848.7 1211.5
Profit After Tax 135.8 231.8 14.5
EPS 12.4 23.4 1.9
OPM (%) 14.1% 13.4% 11.2%
PATM (%) 10.7% 27.3% 1.2%

 

  • Well established customer-centric brand in the Mumbai Metropolitan Region;
  • Leading residential real estate development companies in MMR with a well-diversified portfolio and strong pipeline;
  • Asset-light and scalable model resulting in profitability and stable financial performance;
  • Demonstrated project execution capabilities with in-house functional expertise;
  • Robust stakeholder management capabilities across the spectrum of project development;
  • Technology focused operations resulting in operational efficiency and enhancing customer experiences;
  • Strong focus on sustainable development; and
  • Experienced Promoters, qualified senior management, good corporate governance and committed employee base

Each of the Selling Shareholders will be entitled to their respective portion of the proceeds of the Offer for Sale.

The company propose to utilise the Net Proceeds towards funding the following objects:

1. Repayment/ prepayment, in full or part, of certain borrowings availed by the Company and/or certain of the Subsidiaries.

2. Funding acquisition of future real estate projects and general corporate purposes.

  • Repayment/ prepayment, in full or part, of certain borrowings availed by our Company and/or certain of our Subsidiaries; and
  • Funding acquisition of future real estate projects and general corporate purposes.
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