May 23, 2023: Mumbai-based real estate developer Keystone Realtors on May 22, 2023, said its consolidated net profit jumped 82% at Rs 76.59 crore for the March quarter of 2022-23 (Q4FY23). The developer’s net profit stood at Rs 42.03 crore Q4FY22. During the period, Keystone Realtors’ income touched Rs 357.63 crore from Rs 247.92 crore in the year-ago period.
However, net profit declined to Rs 81.95 crore in FY23 from Rs 139.62 crore in FY22. For the previous fiscal, total income also declined to Rs 724.90 crore from Rs 1,302.97 crore in FY22.
The company, which sells properties under Rustomjee brand, said it had acquired five new projects across Mumbai’s new micro markets of Mahim, Chembur, Kalyan-Dombivli in the past fiscal. These projects have gross development value of Rs 3,430 crore, it said.
“The Maharashtra government’s ambitious plan to implement substantial investments on public infrastructure projects will have a transformative impact on MMR’s future, and this will open multiple micro markets across the region. We will continue to expand in these new micro markets to ensure healthy growth,” says company CMD Boman Irani.
Keystone Realtors was listed in 2022 after launching its Rs 635-crore initial public offer.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com |