Keystone Realtors Q1 results: PAT down 45% at Rs 26 cr on higher expenses

Keystone Realtors on Monday reported 45 per cent decline in consolidated net profit at Rs 25.82 crore for June quarter FY25 on higher expenses.

The company, which sells properties under Rustomjee brand, had posted a net profit of Rs 46.97 crore for the year-ago period.

Total income increased to Rs 437.20 crore during April-June period of this fiscal from Rs 282.82 crore in the corresponding period of the previous year.

Total expenses, including construction spend, surged to Rs 398.16 crore from Rs 216.54 crore during the period under review.

After a robust performance in 2023-24, Rustomjee Group continued its impressive performance in April-June quarter of 2024-25, recording pre-sales of Rs 611 crore, reflecting a robust 22 per cent year-on-year growth," Chairman and Managing Director Boman Irani said.

In June quarter, he said the company launched two new projects with an estimated GDV (gross development value) of Rs 2,017 crore, perfectly aligned with its guidance of launching tw