keystone realtors Q3 earnings surge by 5x to Rs 30 crore
Published on: January 31, 2024.
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Keystone Realtors Reports Five-Fold Jump in Net Profit for Q3 FY24
Mumbai-based real estate company, Keystone Realtors, which operates under the brand name ‘Rustomjee’, has announced a significant increase in net profit for the quarter ended December 2023. The company reported a five-fold jump in consolidated net profit, reaching Rs 29.88 crore compared to Rs 5.82 crore in the same period the previous year. This growth can be attributed to higher income generated during the period.
During the October-December FY24 period, Keystone Realtors achieved a substantial growth in total income, recording Rs 533.33 crore, a significant increase from Rs 135.55 crore in the year-ago period. This positive financial performance has been reported in a regulatory filing.
Continued Progress in Pre-Sales and New Launches
Chairman and Managing Director of Keystone Realtors, Boman Irani, expressed satisfaction with the company’s performance in the third quarter of FY24. He highlighted the progress made in terms of pre-sales, new project additions, and new launches. In this period, the Rustomjee Group achieved remarkable growth in pre-sales, amounting to Rs 6.16 billion, indicating a 101% quarter-on-quarter increase. Irani expressed confidence in a sustained growth trajectory for pre-sales due to the robust launch pipeline and the unwavering trust of their customers.
A Strong Portfolio and Ongoing Work
Since its establishment in 1995, Keystone Realtors has built a substantial portfolio of projects across the Mumbai Metropolitan Region (MMR). Currently, the company has 34 completed projects, 11 ongoing projects, and 25 forthcoming projects. With already over 23 million square feet delivered, Keystone Realtors is actively working on an additional 40 million square feet of projects.
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