Keystone Realtors Sees 50% Drop in Q3 2024 Net Profit
Keystone Realtors, a leading real estate developer in India, reports a 50% decline in net profit for the December 2024 quarter. The company's total income also saw a decrease. The developer has a significant portfolio of projects in the Mumbai Metropolita
Keystone RealtorsReal EstateFinancial ResultsMumbai Metropolitan RegionProject PortfolioReal Estate MumbaiFeb 11, 2025
The company's net profit dropped by half to Rs 15.07 crore, down from Rs 30.22 crore in the same period last year.
This decline is reflected in the total income as well, which decreased to Rs 485.82 crore from Rs 533.33 crore in the corresponding quarter of the previous year, as per a regulatory filing.
Incorporated in 1995, Keystone Realtors Limited is one of the leading real estate developers in the country.
The company has a substantial portfolio of projects spanning the Mumbai Metropolitan Region (MMR), with 36 completed projects, 15 ongoing projects, and 26 forthcoming projects.
These projects cover all price points, from affordable to super premium, ensuring a broad market reach.
To date, Keystone Realtors has delivered over 25 million square feet of construction area and has a robust pipeline of over 44 million square feet in the works.
This extensive portfolio and ongoing projects highlight the company’s commitment to meeting the diverse needs of the real estate market in the MMR.
Despite the recent financial downturn, Keystone Realtors remains optimistic about its future prospects.
The company continues to focus on delivering high-quality projects and maintaining its strong market position in the real estate sector.
Keystone’s ability to adapt to market conditions and deliver on its commitments is a testament to its resilience and strategic planning.
The company’s diverse project portfolio, ranging from affordable housing to premium developments, ensures that it can cater to a wide range of customer demands.
This approach not only helps in sustaining its market presence but also in building a loyal customer base.
Keystone Realtors is dedicated to innovation and sustainable development practices.
The company’s efforts in incorporating green building technologies and sustainable materials in its projects are a step towards a more environmentally friendly real estate sector.
This commitment to sustainability is gaining increasing importance in the industry and is likely to enhance the company’s appeal to environmentally conscious buyers.
In conclusion, while the recent financial results are a cause for concern, Keystone Realtors’ strong historical performance and strategic focus on quality and sustainability suggest a positive outlook for the future.
The company’s leadership and dedication to delivering value to its stakeholders will be crucial in navigating the challenges ahead.
Frequently Asked Questions
What was the net profit of Keystone Realtors in Q3 2024?
Keystone Realtors reported a net profit of Rs 15.07 crore in Q3 2024.
How much did Keystone Realtors' total income decrease from the previous year?
Keystone Realtors' total income decreased from Rs 533.33 crore to Rs 485.82 crore in Q3 2024.
How many completed projects does Keystone Realtors have in the MMR?
Keystone Realtors has 36 completed projects in the Mumbai Metropolitan Region (MMR).
What is the total construction area delivered by Keystone Realtors so far?
Keystone Realtors has delivered over 25 million square feet of construction area.
What are Keystone Realtors' future plans?
Keystone Realtors has a pipeline of over 44 million square feet of construction area in the works and plans to continue focusing on quality, sustainability, and innovation in its projects.
Related News Articles
Puravankara Launches Purva Atmosphere: 2 BHK, 3 BHK Homes in Pune
Puravankara Limited, a leading real estate developer in India, has announced the launch of its latest project, Purva Atmosphere, offering 2 BHK and 3 BHK homes in Pune. The project is set to redefine luxury living in one of Pune's most sought-after locati
Godrej Properties, Bank of India, NBCC, Waaree Renewable, and Ashoka Buildcon: Key Updates in the Indian Stock Market
In today's stock market, Godrej Properties, Bank of India, NBCC, Waaree Renewable, and Ashoka Buildcon are key players to watch. Each company has announced significant updates that could impact their stock performance.
Tesla Secures Location for India's First Showroom in Mumbai
Tesla has secured a prime location at Maker Maxity in BKC, Mumbai, for its first showroom in India. The electric vehicle (EV) giant is set to pay ₹35 lakh annually for the space, signaling a significant step in its expansion plans.
Boosting Senior Living: Ashiana Housing Aims to Double Sales
Ashiana Housing targets 1000 senior living housing units annually within four years, capitalizing on post-Covid demand surge.
Signature Global Eyes Rs 50,000 Crore Expansion in Delhi-NCR Amid Robust Demand
Signature Global, a leading real estate developer, has announced plans to launch projects worth Rs 50,000 crore in the Delhi-NCR region over the next three years, driven by strong market demand.
Adani Group in Advanced Talks to Acquire Emaar India
The Adani Group is reportedly in advanced negotiations to acquire Emaar India, a subsidiary of Dubai-based Emaar Properties. This strategic move could mark a significant expansion for the Indian conglomerate into the real estate sector.