Keystone Realtors Reports Multi-Fold Profit Surge Amid Expansion Plans

Keystone Realtors Ltd experienced a significant increase in net profit, reaching Rs 65.55 crore in Q2 FY25 from Rs 4.17 crore a year prior. Despite a decline in total income, the company's pre-sales and project launches have exceeded expectations, with strategic focus on redevelopment in Mumbai.

Keystone Realtors Ltd has reported an impressive upturn in its consolidated net profit, soaring to Rs 65.55 crore in the second quarter of the 2024-25 fiscal year. This marks a substantial leap from the Rs 4.17 crore recorded during the same period last year.

Despite the profit surge, the company's total income witnessed a decline, dropping to Rs 556.22 crore from Rs 633.33 crore in the corresponding period of the previous year, according to recent regulatory filings. Total expenses also fell to Rs 465.09 crore from Rs 640.83 crore.

Chairman and Managing Director Boman Irani highlighted the firm's achievements in pre-sales and new project ventures amid challenging times. With ongoing successes and a robust festive season launch pipeline, Irani emphasized Keystone's commitment to growth through an asset-light model, leveraging the vast redevelopment opportunities in Mumbai.

(With inputs from agencies.)