Keystone Realtors Sees 45% Decline in Profit in Q1 FY25 Amidst Mumbai's Real Estate Market Shifts
Mumbai-based real estate developer Keystone Realtors reports a 45% decline in profit in Q1 FY25, despite growth in pre-sales and total income. The company explores new avenues, including plotted developments and data centers, to boost growth.
Keystone RealtorsMumbai Real EstateRustomjee GroupQ1 Fy25Profit DeclineReal Estate MumbaiAug 05, 2024
However, the company saw a 22% growth in pre-sales, reaching ₹611 crore in Q1FY25, up from ₹502 crore in Q1FY24. Total income also increased to ₹437 crore in Q1FY25, from ₹282 crore in Q1FY24.
The total area sold in Q1FY25 was 0.24 million sq ft, down from 0.29 million sqft in Q1FY24. Despite this, the company ensured that collections for the quarter were not impacted.
Boman Irani, Chairman and MD of Rustomjee Group, expressed optimism about the company's future prospects.
Frequently Asked Questions
What is Keystone Realtors' reported profit in Q1 FY25?
₹26 crore
What is the growth rate of Keystone Realtors' pre-sales in Q1 FY25?
22%
What is the total income of Keystone Realtors in Q1 FY25?
₹437 crore
What is the estimated GDV of Keystone Realtors' Kasara Plotted Development Project?
₹1,700 crore
How many completed, ongoing, and forthcoming projects does Keystone Realtors have?
34 completed, 15 ongoing, and 27 forthcoming projects
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