Keystone Realtors has reported net consolidated profit after tax of Rs 29.88 crore during the quarter ended December 30, 2023. It had registered profit after tax of Rs 5.82 crore in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 533.33 crore in Q3 FY24 as against Rs 135.55 crore it recorded in the similar quarter last year.
Boman Irani, chairman and managing director of the company said, “In Q3FY24, pre-sales rose to Rs 6.16 billion, showcasing a remarkable 101% quarter-on-quarter increase. This financial year has witnessed the launch of four projects. Moreover, the addition of five new projects in this year underscores our strategic focus on expanding our footprint and venturing into promising geographies. These projects, with an estimated GDV of ~Rs 51 billion which surpassed acquisition done in previous year.”
On November 6, 2023, Kingmaker Developers (KDPL), the wholly owned subsidiary of the company, acquired 100% stake in Real Gem Buildtech (RGBPL).
During Q3 FY24, its pre-sales stood at Rs 6.16 billion and collections was Rs 4.52 billion. In January 2024, the company entered into a joint venture with Ajmera Realty & Infra India to develop a project jointly having GDV of Rs. 7.6 billion in addition to been chosen as redevelopment partner for two more societies located at Malad West having combined GDV of Rs. 12 billion. With this, we have already added eight projects in the current financial year having a GDV of Rs. 71 billion.
The company’s gross debt stands at Rs 8.89 billion and gross debt/equity ratio is 0.50 as on Q3 FY24 and net debt stands at Rs 4.58 billion and the net debt/equity ratio is 0.26 at the end of the quarter.