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Keystone Realtors’ Q4 profit falls 19% despite sharp rise in income

#Builders & Projects#India
Last Updated : 13th May, 2026
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Synopsis

Keystone Realtors Ltd reported a decline in consolidated net profit for the March quarter as higher operating expenses weighed on earnings despite a sharp increase in total income. The company’s revenue more than doubled during the quarter, supported by strong business activity and project execution. However, rising costs impacted profitability both quarterly and annually. During the last fiscal year, the Mumbai-based developer also recorded a significant drop in annual profit even as income increased. Keystone Realtors, which operates under the Rustomjee brand, continues to maintain a strong development pipeline across the Mumbai Metropolitan Region with several ongoing and upcoming projects.

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Real estate developer Keystone Realtors Ltd reported a 19 per cent decline in consolidated net profit for the quarter ended March as rising operational costs impacted earnings.


The company posted a net profit of INR 52.42 crore during the quarter, compared to INR 64.80 crore in the corresponding period last year, according to a regulatory filing.

Despite the fall in profit, the company’s total income more than doubled to INR 1,613.36 crore during the January-March period from INR 642.20 crore a year earlier. The rise in income indicates stronger project execution, collections and overall business activity during the quarter.

However, total operational expenses increased sharply to INR 1,553.22 crore from INR 552.73 crore in the year-ago period, which affected the company’s bottom line.

For the full 2025-26 financial year, Keystone Realtors reported a steep decline in net profit to INR 78.86 crore against INR 171.96 crore in the previous fiscal year. At the same time, total income rose to INR 2,716.85 crore from INR 2,121.44 crore earlier.

The company, which operates under the Rustomjee brand, remains one of the established real estate developers in the Mumbai Metropolitan Region (MMR), particularly in the residential housing segment. In recent years, developers in the MMR market have focused heavily on redevelopment projects, premium housing demand and expansion in suburban micro-markets, which continue to drive project launches and sales activity.

Founded in 1995, Keystone Realtors has completed 39 projects so far, while 17 projects are currently under development and another 21 projects are planned for the coming years.

The company has delivered more than 29 million sq ft of construction area to date and currently has a development pipeline exceeding 46 million sq ft, reflecting its long-term expansion plans in the MMR housing market.

Source PTI
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