Keystone Realtors Defies Odds with Strong Profit Surge Amidst Revenue Dip

Keystone Realtors Ltd, a prominent real estate developer in India under the Rustomjee brand, reported a substantial increase in net profit despite a drop in total income. The firm saw a 69% rise in annual profit, driven by strategic sales and redevelopment efforts, showcasing resilience in a challenging market.

In a noteworthy financial performance, Keystone Realtors Ltd, recognized for its Rustomjee brand properties, reported a significant increase in its net profit, doubling to Rs 66.95 crore in the fourth quarter compared to Rs 30.47 crore a year prior.

Despite a decline in total income to Rs 642.20 crore for the same period, the Mumbai-based developer maintained a resilient growth trajectory, with annual profit climbing 69% to Rs 188.13 crore.

Chairman Boman Irani attributes this success to the company's robust sales strategy and its emphasis on redevelopment projects, particularly in Mumbai's MMR region, coupled with a robust pipeline of new developments slated for the upcoming fiscal year.

(With inputs from agencies.)