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Keystone Realtors Ltd
NSE:RUSTOMJEE

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Keystone Realtors Ltd
NSE:RUSTOMJEE
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Price: 539.85 INR 0.27% Market Closed
Market Cap: 68.1B INR

Keystone Realtors Ltd
Investor Relations

Keystone Realtors Ltd. engages in the provision of construction and real estate services. The company is headquartered in Mumbai, Maharashtra. The company went IPO on 2022-11-24. The firm provides various residential buildings, premium gated estates, townships, corporate parks, retail spaces, schools, iconic landmarks and various other real estate projects. The company offers one bedroom, hall, and kitchen (BHK), two BHK, three BHK, four BHK, and five BHK. The company has 32 completed projects, 12 ongoing projects and 19 forthcoming projects across the Mumbai Metropolitan Region (MMR). Its properties include Rustomjee Erika, Rustomjee Uptown Urbania, Rustomjee Bella, Rustomjee Elements, Rustomjee Urbania, Rustomjee Paramount, Rustomjee Summit, Rustomjee Seasons, Rustomjee Global City, Rustomjee Yazarina III, Rustomjee Garden 6, Rustomjee Crown, and Rustomjee Central Park Business Spaces.

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RUSTOMJEE
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Last Earnings Call
Fiscal Period
Q2 2026
Call Date
Nov 12, 2025
AI Summary
Q2 2026

Strong Presales: Keystone Realtors posted INR 772 crores in Q2 presales, totaling INR 1,839 crores for H1—up 40% year-on-year and already 46% of full-year guidance.

Launch Momentum: Four new projects launched in H1 with a combined GDV of INR 4,916 crores, achieving 70% of annual launch target ahead of schedule.

Business Development Outperformance: Three new redevelopment projects added in H1 with a total GDV of INR 7,727 crores, exceeding full-year business development guidance.

Robust Financial Position: Free cash flow stood at INR 935 crores, net debt is zero, and gross debt-to-equity remains very low at 0.21:1.

Guidance Likely to Be Raised: Management hinted at raising full-year presales and launch guidance, given strong first-half performance and upcoming Bandstand project launch.

Healthy Demand Environment: Demand remains strong, especially for higher-value apartments, with collections up 10.2% and market momentum supported by recent government GST reductions.

Cluster Redevelopment Focus: Company is expanding into large-scale cluster redevelopment in Mumbai, with four major clusters totaling INR 11,550 crores GDV in the pipeline.

Improved Credit Rating: The company’s rating was upgraded to A Positive with a positive outlook by India Ratings.

Key Financials
Presales
INR 772 crores
Presales (H1)
INR 1,839 crores
Full Year Presales Guidance Achievement
46%
Project Launches (H1)
4 projects, INR 4,916 crores GDV
Launch Target Achievement
70%
Business Development (H1)
3 projects, INR 7,727 crores GDV
Revenue from Operations (Q2)
INR 499 crores
Revenue from Operations (H1)
INR 772 crores
Operating Cash Flow (Q2)
INR 109 crores
Operating Cash Flow (H1)
INR 227 crores
Free Cash Flow
INR 935 crores
Gross Debt
INR 588 crores
Gross Debt-to-Equity Ratio
0.21:1
Construction Spend (H1)
INR 452 crores
NCD Issue
INR 335 crores
Other Earnings Calls

Management

Mr. Boman Rustom Irani
Founder, Chairman & MD
No Bio Available
Mr. Sajal Gupta
Group CFO & Head Corporate Strategy
No Bio Available
Mr. Bimal Kishore Nanda
Group Company Secretary & Compliance Officer
No Bio Available
Mr. Percy Sorabji Chowdhry
Executive Director
No Bio Available
Mr. Vishal Bafna
Project CEO
No Bio Available
Mr. Venkatraman B. Iyer
Chief Operating Officer
No Bio Available
Mr. Samir V.M.
Group Chief Information Officer
No Bio Available
Mr. Rakesh Setia
President of Sales & Marketing
No Bio Available
Mr. Mahesh Gera
Group Chief Human Resources Officer
No Bio Available

Contacts

Address
MAHARASHTRA
Mumbai
702 Natraj, M.V. Road Junction, Western Express Highway,Andheri(E)
Contacts
+912266766888
www.rustomjee.com