Keystone Realtors' profit up 69% to ₹188 crore in FY25
NEW DELHI: Realty firm
Keystone Realtors
Ltd on Wednesday reported a more than two-fold jump in its consolidated net profit to Rs 66.95 crore in the fourth quarter of the last financial year. Its net profit stood at Rs 30.47 crore in the year-ago period.
Mumbai-based Keystone Realtors, which sells properties under Rustomjee brand, is one of the leading real estate developers in the country.
The company's total income, however, declined to Rs 642.20 crore in January-March period of the last fiscal from Rs 826.15 crore in the corresponding period of the preceding year, according to a regulatory filing.
During the 2024-25 fiscal, Keystone Realtors' profit rose 69 per cent to Rs 188.13 crore from Rs 111.03 crore in the preceding fiscal.
Total income fell to Rs 2,121.44 crore last fiscal from Rs 2,275.63 crore in the 2023-24 financial year.
Commenting on the company's performance, Keystone Realtors CMD
Boman Irani
said the company has achieved most of its guidance on operational parameters for the 2024-25 fiscal year.
The company's pre-sales or sales bookings stood at Rs 3,028 crore last fiscal year, an increase of 34 per cent annually.
"This performance is a testament to the resilience of our strategy and the continued momentum we are experiencing," said Irani, who is also Chairman of realtors' apex body
CREDAI
.
In 2024-25, Keystone Realtors added 9 land parcels, which could generate sales potential of Rs 4,783 crore in the coming years.
Irani said the Board of Directors has recommended a final dividend of Rs 1.50 per fully paid-up equity share for the financial year ended March 31, 2025.
"The demand for our products remains robust, and we are excited about the strong pipeline of upcoming launches for FY26. Our asset-light model, with a focus on redevelopment opportunities, particularly in Mumbai MMR, continues to be a key driver of growth," he said.
Keystone Realtors has completed 37 projects and is constructing 16 projects. So far, the company has delivered over 26 million square feet of construction area, with a pipeline of over 40 million square feet of construction area in the works.
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