Keystone Realtors Sees 50% Drop in Q3 Profit for 2024
Keystone Realtors, a leading real estate developer, reports a significant 50% decline in net profit for the December 2024 quarter, reaching Rs 15.07 crore. Total income also decreased to Rs 485.82 crore.
Keystone RealtorsReal EstateQ3 ProfitFinancial DeclineMumbai Metropolitan RegionReal Estate NewsFeb 11, 2025
The company's net profit fell by 50% to Rs 15.07 crore in the quarter ending December 31, 2024.
In the same quarter of the previous year, the net profit stood at Rs 30.22 crore.
Additionally, the total income for the quarter decreased to Rs 485.82 crore, down from Rs 533.33 crore in the corresponding period of the previous year, as reported in a regulatory filing.
Incorporated in 1995, Keystone Realtors Limited has established itself as one of the leading real estate developers in the country.
The company boasts a significant portfolio of projects, primarily in the Mumbai Metropolitan Region (MMR).
Keystone Realtors has successfully completed 36 projects, with 15 currently underway and 26 more in the pipeline.
These projects cater to a wide range of price points, from affordable to super premium.
To date, Keystone Realtors has delivered over 25 million square feet of construction area and has a pipeline of over 44 million square feet.
Despite the recent financial downturn, the company remains committed to its long-term growth and development strategies.
The decline in profit and income can be attributed to various market conditions and economic factors that have impacted the real estate sector in recent times.
Keystone Realtors continues to focus on delivering high-quality projects and maintaining its reputation in the industry.
The company's diversified portfolio and strong presence in key markets position it well to navigate the challenges and capitalize on future opportunities.
Frequently Asked Questions
What was Keystone Realtors' net profit for the December 2024 quarter?
Keystone Realtors' net profit for the December 2024 quarter was Rs 15.07 crore.
How much did Keystone Realtors' net profit decline compared to the same period last year?
Keystone Realtors' net profit declined by 50% compared to the same period last year, which was Rs 30.22 crore.
What was the total income for Keystone Realtors in the December 2024 quarter?
Keystone Realtors' total income in the December 2024 quarter was Rs 485.82 crore.
How many projects has Keystone Realtors completed so far?
Keystone Realtors has completed 36 projects so far.
What is the current pipeline of construction area for Keystone Realtors?
Keystone Realtors has a pipeline of over 44 million square feet of construction area in the works.
Related News Articles
Pune Property Market Sees Flat Registrations in August 2024 Amid Rising Stamp Duty Collections
Real estate analysts point to a shift in homebuyers' preferences and increasing prices in major micro-markets as registrations remain flat
Arkade Developers Sets New Sales Record with Over Rs 115 Crore on Launch Day
Mumbai witnesses another milestone in the residential real estate market as Arkade Developers announces a sales benchmark of over Rs 115 crore on the launch day of their two projects.
Festive Home Buying: A Financial and Emotional Boost for the Real Estate Market
As the festive season approaches, the Indian housing market is experiencing a surge in demand. Discover how favorable economic conditions, government schemes, and cultural traditions are driving this trend.
Godrej Properties Launches ₹6,000 Crore QIP to Boost Growth
Godrej Properties has launched a qualified institutional placement (QIP) to raise up to ₹6,000 crore. This move aims to fund the company's ambitious expansion plans, particularly in key markets like Delhi-NCR, MMR, Pune, Bengaluru, and Hyderabad.
Hiranandani Group Makes Strategic Entry into Pune's Real Estate Market with Landmark Deal
The Hiranandani Group, one of India's leading real estate developers, has officially entered the vibrant real estate market of Pune by partnering with Krisala Developers on a significant 105-acre project.
South Indian Investors Embrace the Stock Market: Trends and Insights
South India's investment landscape is evolving, with more people turning to the stock market. Cities like Bengaluru, Chennai, and Kochi are witnessing a surge in retail investors, driven by better financial awareness and digital trading platforms.