Keystone Realtors reported a sharp increase in net profit after tax, which surged to INR 65.55 crore in Q2 FY25, up from INR 4.17 crore in the same quarter last year. However, the company's total income declined by 12.18% to INR 556.22 crore. The strong profit growth was driven by the successful launch of several new RERA projects, with a combined Gross Development Value (GDV) of INR 2,040 crore. The company also saw a notable increase in pre-sales, which more than doubled to INR 7 billion. With a low debt-to-equity ratio of 0.17, Keystone remains financially disciplined.
Keystone Realtors has posted a significant rise in its consolidated net profit after tax, which reached INR 65.55 crore for the quarter ending September 30, 2024, compared to a modest INR 4.17 crore in the same quarter last year. However, the company's total income for Q2 FY25 stood at INR 556.22 crore, showing a decline of 12.18% from INR 633.33 crore reported during the corresponding period in the previous fiscal year.
Boman Irani, Chairman and Managing Director of Keystone Realtors, attributed the profit growth to the successful launch of three additional RERA-approved projects during the quarter, contributing a Gross Development Value (GDV) of INR 2,040 crore. This brought the total GDV of projects launched in the first half of FY25 to INR 4,057 crore. The company also added three new projects in Q2 FY25, with an additional GDV of INR 1,333 crore, further bolstering its project pipeline. One of the highlights of the quarter was a remarkable surge in pre-sales, which more than doubled to INR 7 billion.
In terms of financial leverage, the company maintained a relatively low gross debt of INR 448 crore, resulting in a conservative debt-to-equity ratio of 0.17 as of Q2 FY25. This reflects the company's disciplined approach to managing its financials while executing a robust pipeline of real estate projects across key markets. Despite a decline in overall income, Keystone Realtors' strong project execution and growth in pre-sales have positioned the company for future growth, with an optimistic outlook for the remainder of the fiscal year.
Keystone Realtors' strong profit growth in Q2 FY25 highlights the effectiveness of its strategic focus on new project launches and robust pre-sales performance. Despite a dip in overall income, the company's disciplined financial management, reflected in its low debt levels and solid project pipeline, positions it for sustained growth. The significant rise in profit after tax, coupled with an expanding portfolio of RERA-approved projects, showcases Keystone's resilience in a competitive market. With a strong focus on execution and a healthy balance sheet, the company is poised to capitalize on emerging opportunities, ensuring a positive outlook for the rest of FY25.
Advertisement
Facebook
Whatsapp
