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The company, in an exchange filing, said that the merger scheme will become effective once both Key Fortune Relators and Keystone Realtors submit a certified copy of the tribunal’s order to the Registrar of Companies.
Following the implementation of the merger scheme, Key Fortune Relators will be dissolved without winding up and will cease to be a subsidiary of Keystone Realtors.
On the financial front, Keystone Realtors reported a significant decline in its net profit for the October to December quarter (Q3FY25). The company recorded a net profit of ₹15.1 crore, marking a 50% drop from ₹30 crore in the corresponding period of the previous year. The realty firm’s revenue declined 11% year on year (YoY) to ₹464 crore, down from ₹521 crore, reflecting a slowdown in sales momentum.
On Thursday the stock of Keystone Realtors declined by 1.63% to close at ₹495.10 per share. The company’s stock has struggled over the past year, witnessing a steep fall of 31.72%.
(Edited by : Ajay Vaishnav)
