BSECompany Update3d ago · 4 Aug 2026, 01:10 pm
Press Release for the unaudited financial result (consolidated and standalone) for the quarter ended June 30, 2026
Keystone Realtors Ltd · 543669
✦ AI Summary▲ PositiveResults
Keystone Realtors Ltd announced its unaudited financial results for Q1FY27, with a 72% revenue growth, highest-ever Q1 profit after tax (PAT) with 221% YoY PAT growth, and EBITDA margin expanding to 21.3%. The company recorded pre-sales of INR 6.17 bn, collections of INR 5.99 bn, and operating cash flows of INR 0.68 bn. Keystone Realtors added 2 new projects with an estimated GDV of INR 5.47 bn and has a strong launch pipeline with an estimated GDV of INR 80 bn planned across the MMR over the coming quarters.
Analysis Scores
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: August 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 ended June 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 | Q1FY27
Rustomjee Delivers Strong Q1 FY27 Performance with 72% Revenue Growth,
Records Highest-Ever Q1 Profit After Tax with 221% YoY PAT Growth;
EBITDA Margin Expands to 21.3%
▪ Pre-Sales of INR 6.17 bn (INR 617 Crores) in Q1FY27, driven by resilient sustenance sales
and continued homebuyer confidence.
▪ Collections of INR 5.99 bn (INR 599 Crores) in Q1FY27, reflecting strong execution, healthy
operating cash flows and a robust liquidity position.
▪ Healthy pipeline of upcoming launches having an estimated GDV of INR 80 bn (INR 8,000
Crores) across the MMR, set to support sustained growth.
▪ Added 2 new projects in Q1FY27 with total GDV of INR 5.47 bn (INR 547 Crores), strategic
additions, supporting its long-term growth objectives.
▪ Revenue from Operations up 72% from INR 2.73 bn (INR 273 Crores) in Q1FY26 to INR
4.70 bn (INR 470 Crores) in Q1FY27
▪ EBITDA margin 21.3% in Q1FY27 compared to 10.1% in Q1FY26
▪ EBITDA increases to INR 1.05 bn (INR 105 Crores) in Q1FY27 from INR 0.29 bn (INR 29
Crores) in Q1FY26
▪ PAT increases to INR 0.52 bn (INR 52 Crores) in Q1FY27 from INR 0.16 bn (INR 16 Crores)
in Q1FY26
▪ Achieved dual “AA- (with Stable Outlook)” credit ratings, with ICRA upgrading its rating
to “AA- (with Stable Outlook)” alongside CRISIL's “AA- (with Stable Outlook)” rating,
reinforcing its strong financial profile and prudent capital management.
Mumbai, August 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 Q1FY27.
Commenting on the company's performance, Mr. Boman Irani, Chairman and Managing
Director, Keystone Realtors Limited, said:
“Q1FY27 marks a steady start to the year as we build on the strong momentum achieved in FY26.
During the quarter, we recorded pre-sales of INR 6.17 billion, supported by resilient sustenance
sales and continued homebuyer confidence in our projects. Looking ahead, we have a robust
pipeline of launches having an estimated GDV of INR 80 billion planned across the MMR over the
coming quarters. These launches are expected to strengthen our market position and support our
objective of achieving the pre-sales guidance for FY27. Backed by our execution capabilities,
disciplined project delivery, and favourable market fundamentals, we remain well positioned to
drive sustainable growth. We delivered robust growth across key financial parameters. Our Revenue
Page 1 of 3
from Operations increased by 72% YoY from INR 2.73 billion in Q1FY26 to INR 4.70 billion in
Q1FY27. EBITDA increased from INR 0.29 billion to INR 1.05 billion, reflecting a significant YoY
growth. Our EBITDA margin is 21.3% in Q1FY27 compared to 10.1% in Q1FY26. We also delivered
strong bottom-line growth, with PAT increased from INR 0.16 billion in Q1FY26 to INR 0.52 billion
in Q1FY27, representing a significant YoY growth. Our highest ever Q1 PAT performance. 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.”
Operational Highlights for Q1FY27
• Pre-Sales – INR 6.17 bn (i.e. INR 617 Crores)
• Collections – INR 5.99 bn (i.e. INR 599 Crores)
• Operating Cash Flows – INR 0.68 bn (i.e. INR 68 Crores)
Financial Highlights – Consolidated for Q1FY27
• Revenue from Operations – INR 4.70 bn (i.e. INR 470 Crores)
• EBITDA – INR 1.05 bn (i.e. INR 105 Crores)
• PAT – INR 0.52 bn (i.e. INR 52 Crores)
New Additions, Launches and Completions
• During Q1FY27 we added 2 new projects with an estimated GDV of INR 5.47 bn (i.e. INR
547 Crores).
• The Company has a strong launch pipeline having an estimated GDV of INR 80 bn (i.e.
INR 8,000 Crores) planned across the MMR over the coming quarters, which is expected
to enhance its market position and drive sustainable growth while creating value for
customers and stakeholders.
• During Q1FY27, we completed 1 project with a total construction area of 0.07 mn Sqft.
Secured Debt
• Gross Debt stands at ~INR 8.76 bn (i.e. INR 876 Crores) and Gross Debt/Equity ratio is
0.30:1 as on Q1FY27. Net Debt/Equity ratio is 0.02:1 as on Q1FY27.
Credit Rating
• In addition to CRISIL Credit rating of “AA- (with Stable Outlook)”, ICRA has also upgraded
our Credit rating from “A+ (With Stable Outlook)” to “AA - (with Stable Outlook)”.
Page 2 of 3
Outlook
Mumbai Metropolitan Region (MMR) real estate industry is on a promising growth
trajectory, offering abundant opportunities for the Rustomjee Group. With a strong focus
on redevelopment, expansion within the MMR region, and the competitive advantage of
our unique strengths, we are well-positioned for sustained success. Our asset-light
business model, effective stakeholder management, customer-centric approach,
technological advancements, reliable vendor relationships, and experienced leadership
team will continue to drive growth and deliver exceptional value. Keystone operates across
a wide spectrum of housing segments and is confident of continuing as a dominant
developer and a preferred partner in (re)development projects.
About Keystone Realtors Limited
• Incorporated in 1995, Keystone Realtors Limited is one of the prominent MMR based real estate
developers and a leader in the redevelopment space. The company has a substantial portfolio of
projects spanning the Mumbai Metropolitan Region (MMR), with 41 Completed Projects, 17
Ongoing Projects and 21 Forthcoming Projects that cover all price points from Mass Market to
Luxury. So far, the company has delivered over 29+ million square feet of construction area, with
a pipeline of over 46 million square feet of construction area in the works. A strategic asset-light
approach, an integrated real estate development model, and a strong eye for quality and detail
gives the Company's management team an edge over its peers. By successfully housing 19000+
families including re-housing 1900+ existing families through several redevelopment projects, the
company has detailed understanding of (re)development process and is committed to generating
value for all its stakeholders.
Disclaimer
• Some of the statements in this communication may be ‘forward-looking’ statements within the meaning of applicable laws and regulations. Actual results might differ substantially
from those expressed or implied. Important developments that could affect the company’s operations include changes in the industry structure, significant changes in the political
and economic environment in India and overseas, tax laws, duties, li
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