Keystone Realtors
- Market cap
- ₹ 4,274 Cr.
- P/E
- 36.1x
- P/B
- 1.51x
- 52-week range
- 327.05 – 582.2
- ROE
- 3%
- ROCE
- 5%
- Dividend yield
- 0%
- Debt / equity
- 0.52
- Sector
- Realty
- Industry
- Residential, Commercial Projects
- Listed on
- NSE, BSE
About
Keystone Realtors Limited is an India-based real estate developer company, which operates under the brand Rustomjee. The Company is primarily engaged in the business of real estate construction, development, and other related activities. It provides various residential buildings, premium gated estates, townships, corporate parks, retail spaces, landmarks, schools, clubhouses, parks within townships, and various other real estate projects. It offers one bedroom, hall, and kitchen (BHK), two BHK, three BHK, four BHK, and five BHK. The Company has approximately 37 completed projects, 16 ongoing projects, and 28 forthcoming projects across the Mumbai Metropolitan Region (MMR). Its properties include Rustomjee Uptown Urbania, Rustomjee Bella, Rustomjee Elements, Rustomjee Global City, Rustomjee Erika, Rustomjee Paramount, Rustomjee Crown, Rustomjee Seasons, La Vie at Rustomjee Uptown Urbania, Rustomjee Parishram, Rustomjee Oriana, and Rustomjee Summit.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Residential, Commercial Projects: 174 companies →Keystone Realtors against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)36.1 against a typical 23.8: pricier than most peers (1st = cheapest).112th of 173
- Sales growth+72.2% against a typical +6.6% from a year earlier.32nd of 134
- Profit growth+225% against a typical +2.9% from a year earlier.14th of 108
- Share price, 3 months−17.7% against a typical −9.9%.111th of 147
- Size₹ 4,273.6 Cr. market value against a typical ₹ 129.6 Cr. (1st = largest).21st of 163
Latest announcements
Exchange filings and their impact on the company.
- Record Q2 pre-sales of Rs 1,423 crore, up 84% YoY, puts Rustomjee at 41% of FY27 guidance in H1.
Keystone Realtors reported its highest ever quarterly pre-sales of Rs 14.23 billion in Q2FY27, up 84% from a year ago, with H1 pre-sales at a record Rs 20.41 billion, or 41% of its full-year guidance. Collections were softer at Rs 5.41 billion in Q2, while it launched two projects totalling 0.54 million sq ft with Rs 21.96 billion sales value and added two new projects worth Rs 5.47 billion. It also completed 1.32 million sq ft ahead of RERA timelines and retained dual AA- ratings, supporting faster revenue conversion and growth visibility over the next year.
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
High safety
Rated AA- to A+ by 3 agencies- ICRA raised its rating on 7 Jul 2026. India Ratings may follow.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| CRISIL | Crisil AA- | Stable | 25 Sep 2026 |
| ICRA | [ICRA]AA- | Stable | 11 Sep 2026 |
| India Ratings | IND A+ | Positive | 16 Oct 2025 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 25 Sep 2026 | Reaffirmed | Crisil AA- | — | CRISIL | ₹ 1,500 Cr. | |
| 11 Sep 2026 | Reaffirmed | [ICRA]AA- | — | ICRA | ₹ 1,670 Cr. | |
| 24 Aug 2026 | Reaffirmed | [ICRA]AA- | — | ICRA | ₹ 1,670 Cr. | |
| 14 Jul 2026 | Reaffirmed | Crisil AA- | — | CRISIL | ₹ 1,500 Cr. | |
| 7 Jul 2026 | ▲ Upgrade1 notch | [ICRA]A+ → [ICRA]AA- | — | ICRA | ₹ 1,325 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 4 Nov 2026Upcoming | Financial Results/Other business matters | To consider and approve the financial results for the period ended September 30, 2026 and other business matters |
| 26 Aug 2026 | Fund Raising/Other business matters | To consider Fund Raising and other business matters |
| 4 Aug 2026 | Financial Results/Other business matters | To consider and approve the financial results for the period ended Jun 30, 2026 and other business matters |
| 12 May 2026 | Financial Results/Other business matters | To consider and approve the financial results for the period ended March 31, 2026 and other business matters |
| 4 Feb 2026 | Financial Results | To consider and approve the financial results for the period ended December 31, 2025 |
| 12 Nov 2025 | Financial Results/Other business matters | To consider and approve the financial results for the period ended September 30, 2025 and other business matters |
| 10 Sep 2025 | Fund Raising | To consider Fund Raising through debentures |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 618 | 521 | 812 | 422 | 533 | 464 | 585 | 273 | 499 | 266 | 1,596 | 470 |
| Expenses | 632 | 512 | 762 | 381 | 455 | 427 | 537 | 261 | 484 | 256 | 1,514 | 388 |
| Operating Profit | −14 | 9 | 50 | 41 | 78 | 38 | 48 | 12 | 15 | 10 | 81 | 82 |
| OPM % | −2.3% | 1.6% | 6% | 10% | 15% | 8% | 8% | 4.3% | 3% | 3.7% | 5% | 17% |
| Other Income | 25 | 34 | 15 | 15 | 23 | 22 | 57 | 16 | 22 | 28 | 25 | 24 |
| Interest | 7 | 7 | 20 | 17 | 10 | 12 | 13 | 7 | 16 | 23 | 33 | 31 |
| Depreciation | 2 | 2 | 3 | 2 | 3 | 3 | 6 | 4 | 4 | 4 | 6 | 5 |
| Profit before tax | 2 | 34 | 42 | 37 | 88 | 45 | 87 | 16 | 17 | 10 | 67 | 70 |
| Tax % | −108% | 11% | 28% | 31% | 26% | 33% | 23% | −3% | 41% | 52% | 5% | 26% |
| Net Profit | 4 | 30 | 30 | 26 | 66 | 30 | 67 | 16 | 10 | 5 | 64 | 52 |
| EPS in Rs | 0.38 | 2.65 | 2.69 | 2.05 | 5.26 | 1.2 | 5.14 | 1.15 | 0.68 | 0.27 | 4.15 | 4.21 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- —
- 5 Years
- 25%
- 3 Years
- 57%
- TTM
- 53%
- 10 Years
- —
- 5 Years
- −24%
- 3 Years
- −1%
- TTM
- −27%
- 10 Years
- —
- 5 Years
- —
- 3 Years
- −15%
- TTM
- —
- 10 Years
- —
- 5 Years
- 6%
- 3 Years
- 5%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Keystone Realtors | ₹ 334.10 | ₹ 4,274 Cr. | 36.1x | 1.5x | 3% | — |
| DLF | ₹ 653.55 | ₹ 1,61,774 Cr. | 39x | 3.6x | 10% | 32% |
| Lodha Developers | ₹ 963.00 | ₹ 1,01,441 Cr. | 33.7x | 5.1x | 15.8% | 20.6% |
| Indus Towers | ₹ 380.00 | ₹ 1,00,250 Cr. | 14.9x | 2.7x | 19.8% | 22% |
| Oberoi Realty | ₹ 1,587.20 | ₹ 57,846 Cr. | 27.3x | 3.8x | — | 41.6% |
| Godrej Properties | ₹ 1,497.90 | ₹ 45,121 Cr. | 166x | 3.3x | 10.2% | 35.9% |
Management
- Boman Rustom Irani
- Chairman of the Board, Managing Director
- Sajal Gupta
- Group Chief Financial Officer and Head Corporate Strategy
- Harsh Chandra
- President and Chief Executive Officer -SRA
- Pritam Suryaprasad Chivukula
- Project Chief Executive Officer - Commercial
- Manish Savant
- President, Liasoning and Legal - President, Liasoning and Legal
- Vikas Singhal
- Chief Executive Officer - Special Projects & Head Strategic Initiatives
- Anupam Verma
- President and Chief Executive Officer - Kapstone Constructions Private Limited
- Venkatraman B
- Chief Operating Officer
Prices are delayed and for information only. Nothing on this page is investment advice.