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Keystone Realtors Limited Q1 FY26 earnings call summary

NSE: RUSTOMJEE · BSE: 543669

Earnings call of 5 Aug 2025, summarised by AI from the filing.

FY26 presales guidance maintained at ₹4,000 cr; review after Q2 results.

Key takeaways

  1. Guidance FY26 presales guidance maintained at ₹4,000 cr; review after Q2 results.
  2. BD milestone Three projects added with GDV ₹7,727 cr, exceeding FY26 BD guidance by 1.25x.
  3. Growth driver Redevelopment focus in MMR, with new clusters in Sion and Lokhandwala.
  4. Risk Execution constraints in MMR and increased competition in redevelopment.

Original filing on BSE

Keystone Realtors Limited Q1 FY27 results

As filed: Revenue ₹470 cr (+72% year on year), EBITDA ₹82.2 cr (+300% year on year), PAT ₹52.4 cr (+227% year on year), EBITDA margin 17.5% (+1,000 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹1,596 cr (+173% year on year), EBITDA ₹81.5 cr (+60% year on year), PAT ₹63.7 cr (−5% year on year), EBITDA margin 5.1% (−361 bps). Score 65 of 100, Above trend. Revenue growth was well above the company's own trend; EBITDA growth was above it; profit growth was in line with it. EBITDA margin fell 361 bps year on year. Other income 29% of PBT. Tax rate 6%. Revenue grew on the previous quarter, against its usual seasonal pattern. Share price after the results: −10.7% in 30 days (Nifty 500: −3.0%).
  • Q3 FY26: Revenue ₹266 cr (−43% year on year), EBITDA ₹11.5 cr (−72% year on year), PAT ₹5.1 cr (−83% year on year), EBITDA margin 4.3% (−452 bps). Score 22 of 100, Below trend. Revenue, EBITDA and profit growth were below the company's own trend. EBITDA margin fell 452 bps year on year. Other income 229% of PBT. Tax rate 45%. Revenue fell 47% from last quarter. Share price after the results: −20.3% in 30 days (Nifty 500: −4.5%).
  • Q2 FY26: Revenue ₹499 cr (−6% year on year), EBITDA ₹15.0 cr (−81% year on year), PAT ₹10.0 cr (−85% year on year), EBITDA margin 3.0% (−1,000 bps). Score 14 of 100, Below trend. Revenue and EBITDA growth were below the company's own trend; profit growth was well below it. EBITDA margin fell 1000 bps year on year. Other income 129% of PBT. Tax rate 41%. Consolidated profit -85% but standalone +57%. Profit fell 38% from last quarter. Share price after the results: +0.9% in 30 days (Nifty 500: +0.2%).
  • Q1 FY26: Revenue ₹273 cr (−35% year on year), EBITDA ₹13.0 cr (−70% year on year), PAT ₹16.0 cr (−38% year on year), EBITDA margin 4.8% (−543 bps). Score 18 of 100, Below trend. Revenue and EBITDA growth were below the company's own trend; profit growth was well below it. EBITDA margin fell 543 bps year on year. Other income 89% of PBT. Tax rate -6%. Revenue fell 53% from last quarter. Share price after the results: −1.6% in 30 days (Nifty 500: −0.2%).
  • Q4 FY25: Revenue ₹585 cr (−28% year on year), EBITDA ₹51.0 cr (−2% year on year), PAT ₹67.0 cr (+123% year on year), EBITDA margin 8.7% (+231 bps). Score 34 of 100, Below trend. Revenue growth was below the company's own trend; profit growth was in line with it. EBITDA margin rose 231 bps year on year. Other income 64% of PBT. Share price after the results: +8.6% in 30 days (Nifty 500: +2.5%).
  • Q3 FY25: Revenue ₹464 cr (−11% year on year), EBITDA ₹41.0 cr (+300% year on year), PAT ₹30.0 cr (0% year on year), EBITDA margin 8.8% (+730 bps). Score 38 of 100, Below trend. EBITDA margin rose 730 bps year on year. Other income 46% of PBT. Consolidated profit +0% but standalone -71%. Not enough history for a trend yet: scored on growth alone. Revenue fell 13% from last quarter.
  • Q2 FY25: Revenue ₹533 cr (−14% year on year), EBITDA ₹81.0 cr, PAT ₹66.0 cr (+300% year on year), EBITDA margin 15.2% (+1,000 bps). Score 49 of 100, In line with trend. EBITDA margin rose 1000 bps year on year. Other income 25% of PBT. Not enough history for a trend yet: scored on growth alone.

Past price moves after results do not indicate future moves. Not a recommendation.

Keystone Realtors Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.