Keystone Realtors Q3 results: Net profit jumps 5-fold to Rs 30 crore

Keystone Realtors on Tuesday reported a five-fold jump in consolidated net profit at Rs 29.88 crore for the quarter ended December 2023 on higher income.

Its net profit stood at Rs 5.82 crore in the year-ago period.

Mumbai-based Keystone Realtors, which markets its properties under 'Rustomjee' brand, posted a significant growth in total income at Rs 533.33 crore during October-December FY24 as against Rs 135.55 crore in the year-ago period, according to a regulatory filing.

Commenting on the performance, Boman Irani, Chairman and Managing Director, Keystone Realtors, said, "For Q3 of FY24, the company has demonstrated good progress in terms of pre-sales, new project additions and new launches.

"In Q3 FY24, Rustomjee Group delivered a remarkable performance, achieving a substantial increase in pre-sales, which rose to Rs 6.16 billion (Rs 616 crore), showcasing a remarkable 101 per cent quarter-on-quarter (QoQ) increase. Looking ahead, we estimate a sustained growth trajectory in pre-sales, fuelled by our robust launch pipeline and the unwavering trust of our customers," he said.

Incorporated in 1995, Keystone Realtors has a substantial portfolio of projects spanning the Mumbai Metropolitan Region (MMR), with 34 completed projects, 11 ongoing projects, and 25 forthcoming projects. So far, the company has delivered over 23 million square feet and 40 million square feet is in the works.