Commenting on the performance, Boman Irani, Chairman and Managing Director, Keystone Realtors, said, “For Q3 of FY24, the company has demonstrated good progress in terms of pre-sales, new project additions and new launches.
Keystone Realtors announced on Tuesday a significant five-fold surge in consolidated net profit to Rs 29.88 crore for the quarter concluding in December 2023 due to increased revenue.
In comparison, its net profit was Rs 5.82 crore in the corresponding period last year.
The Mumbai-based real estate firm, known for its ‘Rustomjee’ brand, witnessed a substantial rise in total income, reaching Rs 533.33 crore during October-December FY24, compared to Rs 135.55 crore in the prior year, according to a regulatory filing.
Chairman and Managing Director of Keystone Realtors, Boman Irani, commented on the quarter’s performance, stating, “In Q3 of FY24, the company made significant strides in terms of pre-sales, new project inclusions, and launches.”
“In Q3 FY24, Rustomjee Group showcased outstanding performance, witnessing a notable increase in pre-sales, reaching Rs 6.16 billion (Rs 616 crore), marking a remarkable 101 per cent quarter-on-quarter (QoQ) growth. Looking ahead, we anticipate a sustained growth trajectory in pre-sales, supported by our strong launch pipeline and the enduring confidence of our clientele,” he added.
Incorporated in 1995, Keystone Realtors boasts a considerable portfolio of projects across the Mumbai Metropolitan Region (MMR), comprising 34 completed projects, 11 ongoing projects, and 25 upcoming projects. To date, the company has delivered over 23 million square feet, with an additional 40 million square feet in progress.
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