BSECompany Update1d ago · 4 Nov 2026, 01:18 pm
Press Release for the unaudited financial results (consolidated and standalone) for the quarter and half year ended September 30, 2026
Keystone Realtors Ltd · 543669
✦ AI Summary▲ PositiveResults
Keystone Realtors Ltd reported its unaudited financial results for Q2FY27, with highest ever quarterly pre-sales of INR 14.23 billion, up 84% YoY, and highest ever quarterly PAT of INR 1.01 billion. The company achieved 41% of its full-year FY27 pre-sales guidance within the first half of FY27.
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Earnings Impact9/10
Growth Catalyst8/10
Governance Concern1/10
Regulatory Risk1/10
Balance Sheet Risk2/10
Liquidity Impact9/10
Market Sentiment9/10
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Keystone Realtors Ltd - 543669 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
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Date: November 4, 2026
The General Manager, The Vice President
Listing Department, Listing Department,
BSE Limited, National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers, “Exchange Planza”,
Dalal Street, Bandra Kurla Complex,
Mumbai – 400 001 Bandra East, Mumbai – 400 051
Scrip Code: 543669 Scrip Symbol: RUSTOMJEE
Dear Sir,
Sub: Press Release
In continuation of our letter of event date, regarding the submission of Consolidated and
Standalone unaudited Financial Results of the Company for the quarter and half year
ended September 30, 2026, we enclose herewith a copy of Press Release issued by the
Company in this regard.
The press release is also being uploaded on the Company’s website at
https://www.rustomjee.com/investor-relations/financials/.
You are requested to inform your members accordingly.
Thanking you,
Yours faithfully,
For Keystone Realtors Limited
Bimal K Nanda
Company Secretary and Compliance Officer
ACS – 11578
KEYSTONE REALTORS LIMITED
Registered Office: 702, NATRAJ, M. V. Road Junction, Western Express Highway, Andheri (East), Mumbai - 400 069.
Tel.: +91 22 6676 6888 | CIN : L45200MH1995PLC094208 | Website: www.rustomjee.com
Earnings Release | Q2FY27
Rustomjee Delivers Strong Q2FY27 Performance with Highest Ever quarterly
Pre-Sales of INR 1,423 Crore, up by 84%.
Rustomjee Records Highest Ever Quarterly PAT of INR 101 Crore.
▪ Highest ever quarterly Pre-Sales of INR 14.23 bn (INR 1,423 Crores) in Q2FY27, 84% YoY
growth led by strong momentum from Luxury and Super Premium projects.
▪ H1FY27 Pre-Sales of INR 20.41 bn (INR 2,041 Crores), 11% YoY growth, achieved 41% of
the full-year FY27 guidance achieved.
▪ Commenced 2 projects in Q2FY27 with total GDV of INR 22.42 bn (INR 2,242 Crores).
▪ EBITDA margin expands to 14.5% and 17.8% respectively in Q2FY27 and H1FY27
compared to 7.1% and 8.2% respectively in Q2FY26 and H1FY26.
▪ EBITDA increases to INR 0.74 bn (INR 74 Crores) in Q2FY27 from INR 0.37 bn (INR 37
Crores) in Q2FY26, 100% YoY Growth.
▪ PAT increases to INR 1.01 bn (INR 101 Crores) in Q2FY27 from INR 0.10 bn (INR 10 Crores)
in Q2FY26.
▪ Commenced commercial project for Securing long-term growth through steady annuity
cash flows.
Mumbai, November 04, 2026: Keystone Realtors Limited, a prominent MMR based real-estate
company engaged in the development of residential and commercial projects, announced its
financial results for Q2FY27.
Commenting on the company's performance, Mr. Boman Irani, Chairman and Managing
Director, Keystone Realtors Limited, said:
“As we successfully close the second quarter of FY27, I am delighted to share that our company
continues to progress through a pivotal phase of growth and opportunity. This quarter marks yet
another period of strong performance, reaffirming our consistent growth trajectory and disciplined
execution. Building on the solid momentum carried forward from FY26, we achieved our highest
ever Quarterly Pre-Sales of INR 14.23 billion in Q2FY27, reflecting a 84% year-on-year growth and
thereby achieving our highest ever H1 Pre-Sales of INR 20.41 billion in H1FY27. We successfully
accomplished about 41% of our full-year FY27 Pre-Sales guidance within the first half of FY27. This
landmark performance was driven by exceptional demand for our Luxury and Super premium
projects. During the quarter, we commenced two projects with an estimated GDV of INR 22.42
billion in Q2FY27, one of these projects being commercial, enables us to expand our commercial
portfolio to complement our residential sales engine with recurring annuity income. In Q3FY27 we
have also launched One tower at Urbania having estimated GDV of INR 8.86 billion. These launches
are expected to strengthen our market position and support our objective of achieving the pre-sales
guidance for FY27. With the festive season approaching, we’re excited about our strong pipeline of
launches for the rest of FY27. I am confident that we are well-equipped to not only acquire new
Page 1 of 4
projects but also bring them to life efficiently. Redevelopment in Mumbai continues to remain a
core strategic focus, offering immense potential for sustained value creation. As one of the most
preferred redevelopment players in the MMR region, we are uniquely positioned to capture these
opportunities and strengthen our leadership in this segment. Backed by a strong balance sheet, we
are well capitalized and equipped to continue delivering long-term value to all stakeholders. We
remain confident in our ability to maintain a strong growth trajectory in both acquisitions and
project launches throughout the remainder of the year. We are confidently poised to deliver
substantial value to all stakeholders as we navigate through this year. Our Revenue from
Operations stood at INR 4.97 billion in Q2FY27 and INR 9.67 billion in H1FY27, 25% YoY growth
on half yearly basis. EBITDA increased to INR 0.74 billion in Q2FY27 from INR 0.37 billion in
Q2FY26, reflecting a significant 100% YoY growth. Our EBITDA margin is 14.5% in Q2FY27
compared to 7.1% in Q2FY26. We also delivered strong bottom-line growth, with PAT increased to
INR 1.01 billion in Q2FY27 from INR 0.10 billion in Q2FY26, representing a significant YoY growth.
These results reflect the strength of our business model, disciplined execution, and continued focus
on driving sustainable growth and value creation for our stakeholders. Supported by a strong
balance sheet and a healthy liquidity position, we remain well capitalized to pursue growth
opportunities, execute our development pipeline efficiently, and create long-term value for our
customers, shareholders, and all stakeholders. The MMR real estate market is on a strong growth
trajectory, presenting significant opportunities for Rustomjee Group. By strategically focusing on
redevelopment, expanding our footprint across MMR, and leveraging our core strengths, we are
well-positioned for sustained success.”
Operational Highlights for Q2FY27
• Pre-Sales – INR 14.23 bn (i.e. INR 1,423 Crores). Growth of 84% YoY.
• Collections – INR 5.41 bn (i.e. INR 541 Crores)
• Operating Cash Flows – INR 1.25 bn (i.e. INR 125 Crores)
Operational Highlights for H1FY27
• Pre-Sales – INR 20.41 bn (i.e. INR 2,041 Crores). Growth of 11% YoY.
• Collections – INR 11.41 bn (i.e. INR 1,141 Crores)
• Operating Cash Flows – INR 1.93 bn (i.e. INR 193 Crores)
Financial Highlights – Consolidated for Q2FY27
• Revenue from Operations – INR 4.97 bn (i.e. INR 497 Crores)
• EBITDA – INR 0.74 bn (i.e. INR 74 Crores). Growth of 100% YoY.
• PAT – INR 1.01 bn (i.e. INR 101 Crores)
Page 2 of 4
Financial Highlights – Consolidated for H1FY27
• Revenue from Operations – INR 9.67 bn (i.e. INR 967 Crores). Growth of 25% YoY.
• EBITDA – INR 1.79 bn (i.e. INR 179 Crores). Growth of 171% YoY.
• PAT – INR 1.53 bn (i.e. INR 153 Crores)
New Additions, Launches and Completions
• During H1FY27 we added 2 projects with an estimated GDV of INR 5.47 bn (i.e. INR 547
Crores). Strategic additions, unlocking the scale and accelerating cash flows needed for
long-term value creation.
• During Q2FY27 we commenced 2 projects with an estimated GDV of INR 22.42 bn (i.e.
INR 2,242 Crores). One of these projects being commercial, enables us to expand our
commercial portfolio, Securing long-term growth through steady annuity cash flows. In
Q3FY27 we have also launched One tower at Urbania having estimated GDV of INR 8.86
billion (i.e. INR 886 Crores).
• During Q2FY27, we completed 3 RERA projects with a total construction area of 1.32 mn
Sqft. With this we have completed 4 RERA Projects in H1FY27 with a total construction
area of 1.39 mn sq ft. The projects are completed 9 to 15 months ahead of its RERA
timeline which stands as a strong testament to our execution track record.
Secured Debt
• Gross Debt stands at ~INR 8.38 bn (i.e. INR 838 Crores) and Gross Debt/Equity ratio is
0.28:1 as on Q2FY27. Net Debt/Equity ratio is 0.04:1 as on Q2FY27.
Credit Rating
• We maintained Dual “AA- (with Stable Outlook)” rating f
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