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
Related News Articles
Rohan Builders Achieves Unparalleled Excellence with 14 Consecutive Years of CRISIL DA2+ Grading
Rohan Builders continues to maintain its prestigious DA2+ Developer Grading from CRISIL, demonstrating its commitment to excellence in financial and operational parameters.
Sebi Chief Remains Tight-Lipped on Real Estate Investment Trusts
REITs comprise a portfolio of commercial real estate assets, most of which are already leased out.
PGA of America Launches State-of-the-Art Golf Courses in Mumbai, Navi Mumbai, and Hyderabad
AIVOT Golf & Sports Management collaborates with Shapoorji Pallonji Real Estate, Stonecraft Group, and Tvastar Golf to introduce PGA of America-branded golf courses in Mumbai, Navi Mumbai, and Hyderabad, setting a new standard for golf excellence in India
Raymond Expands Real Estate Footprint with Mahim Project Deal
Raymond, in a strategic move, has signed a Joint Development Agreement for a prestigious residential project in the prime location of Mahim West, Mumbai.
Amrita Singh, Zaheer Khan Among Celebrities Investing in Mumbai's Luxury Real Estate
Amrita Singh and Zaheer Khan are among the latest celebrities making significant investments in Mumbai's luxury real estate market. Discover the trends and insights of these high-profile investments.
SP Group Raises $3.3 Billion from Five Funds to Boost Real Estate and Construction Projects
SP Group secures a significant $3.3 billion investment from five prominent funds, aimed at refinancing and expanding its real estate and construction projects. This strategic move will help the company solidify its position in the market and drive sustain