Pros:
Good display - 5 inch.
Camera - rear camera(8MP) quality is good. Front camera(2MP) quality is OK.
Touch is fine. Speaker Volume is OK. On head set, volume is good.
Wifi, 3G works fine - at phone or as a hotspot(Laptop connecting to internet through Wifi of the phone to 3G).
Though 512 MB looks lesser, after downloading few applications and running in the background(like.DU Battery Saver, DU memory Booster, WhatsApp, Viber, Tango, 3 Candy related games, Notes, swiss Army knife, RZ folder player) The phone works fine without any lag, with around 200 MB RAM available, the video player quality is very good with no lag after install all the above apps.
No hanging or no crash at all.(Amazed to see this quality with an Indian Phone.We can confidently buy Karbonn phones)
No heating problem with heavy gaming too.(Candy Crush, Crest Jewel)
Great GPS with Google Apps.
Cons:
Battery draining faster(full charge holds for 3 hours of gaming - Candy Crush), otherwise for normal usage, it require charging every day. - Do we require more than this at this price.
Occasionally*back* key doesnt work.
Quality of front Camera is very nice.
Others:(I purchased it knowing that it has 512 MB RAM and so it is not a cons.
512 MB looks lesser as around 350 MB occupied by apps. Cleaning the memory and RAM using app DU. on a daily basis, though it didnt face any hanging, crash or slow down issue.
Conclusion: To my great surprise - this is a wonderful phone that any one can can buy, (why dont we go for costly phone, I could not understand. If we require high quality camera - buy a separate camera with analog zoom facility). If you require 1GB RAM, you may go for Titanium S5 Plus.