Keystone Realtors' Profits Dip Amid Rising Expenses

Keystone Realtors Ltd experienced a 19% drop in net profit for the quarter ending March, attributed to increased operating expenses. While revenue more than doubled, expenses surged significantly. Keystone, a major player in Mumbai's real estate sector, continues to develop numerous new projects under its 'Rustomjee' brand.

Keystone Realtors Ltd, a prominent player in Mumbai's real estate scene, has reported a 19% decrease in its consolidated net profit, amounting to Rs 52.42 crore for the quarter ending in March. The company attributes this drop to rising operating expenses.

Despite an impressive doubling of total income to Rs 1,613.36 crore during the January-March quarter compared to the previous year, the company faced a significant increase in operational costs, rising to Rs 1,553.22 crore from Rs 552.73 crore.

Keystone Realtors, known for marketing residential properties under the 'Rustomjee' brand, has ongoing and forthcoming projects contributing to its substantial construction portfolio in the Mumbai Metropolitan Region.