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Keystone Realtors Ltd posted a sharp 85 per cent decline in consolidated net profit for the second quarter, with earnings falling to INR 9.89 crore from INR 65.55 crore last year. Total income also declined to INR 520.90 crore. Despite the drop in profits, the company maintains a significant presence in the Mumbai Metropolitan Region, with 37 completed projects, 19 under construction, and 24 in the pipeline. Keystone has delivered over 26 million square feet of construction and continues to manage a healthy pipeline of 47 million square feet, reflecting ongoing long-term plans.
Keystone Realtors Ltd has recorded a steep decline in its consolidated net profit for the second quarter of this fiscal year, reporting INR 9.89 crore, down 85 per cent from INR 65.55 crore in the same period last year. Total income also dropped to INR 520.90 crore, from INR 556.22 crore a year ago, according to the company?s regulatory filing. Advertisement
The company continues to hold a strong position in the Mumbai Metropolitan Region (MMR), managing a portfolio of 37 completed projects, 19 projects currently under construction, and 24 projects in the planning or approval stages. To date, Keystone has delivered over 26 million square feet of construction area and maintains a pipeline of 47 million square feet.
The numbers indicate that while the company's earnings and revenue have slowed in the short term, its ongoing and upcoming projects reflect a continued focus on long-term growth. The sustained construction activity across MMR suggests that Keystone is committed to expanding its footprint and completing its planned projects despite a temporary dip in financial performance.
Source PTI
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