Keystone Realtors net profit up by 82% to Rs 77 cr in March quarter

Keystone Realtors on Monday reported 82 per cent increase in consolidated net profit at Rs 76.59 crore for March quarter 2022-23 on better income.

Its net profit stood at Rs 42.03 crore in the year-ago period.

Total income of the Mumbai-based firm rose to Rs 357.63 crore from Rs 247.92 crore in the year-ago period, according to a regulatory filing.

Net profit declined to Rs 81.95 crore in the last fiscal from Rs 139.62 crore in 2021-22.

Total income also fell to Rs 724.90 crore in 2022-23 from Rs 1,302.97 crore in the previous year.

Keystone Realtors, which sells properties under Rustomjee brand, got listed last year after launching its Rs 635 crore Initial Public Offer (IPO).

Founded in 1995, Keystone Realtors has completed more than 30 projects and is developing more than 10 projects across the Mumbai Metropolitan Region (MMR).

The firm has developed 20.05 million square feet of high-value and affordable residential buildings, premium gated estates, townships, corporate parks, retail spaces, schools, iconic landmarks and various other real estate projects as of March 2022.