Keystone Realtors secures NCLT approval for Key Fortune Relators merger – CNBC TV18

Keystone Realtors, which operates below the model identify Rustomjee, has acquired approval from the Nationwide Firm Legislation Tribunal (NCLT) for the merger of its subsidiary, Key Fortune Relators Personal Ltd, into the dad or mum firm. The approval was granted by the Mumbai Bench of NCLT by means of an order dated February 19, 2025.

The corporate, in an change submitting, stated that the merger scheme will turn out to be efficient as soon as each Key Fortune Relators and Keystone Realtors submit an authorized copy of the tribunal’s order to the Registrar of Firms.

Following the implementation of the merger scheme, Key Fortune Relators can be dissolved with out winding up and can stop to be a subsidiary of Keystone Realtors.

On the monetary entrance, Keystone Realtors reported a big decline in its internet revenue for the October to December quarter (Q3FY25). The corporate recorded a internet revenue of ₹15.1 crore, marking a 50% drop from ₹30 crore within the corresponding interval of the earlier 12 months. The realty agency’s income declined 11% 12 months on 12 months (YoY) to ₹464 crore, down from ₹521 crore, reflecting a slowdown in gross sales momentum.

On Thursday the inventory of Keystone Realtors declined by 1.63% to shut at ₹495.10 per share. The corporate’s inventory has struggled over the previous 12 months, witnessing a steep fall of 31.72%.