Keystone Realtors Ltd

Keystone Realtor Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Keystone Realtors Ltd

₹ 388 -5.71%
05 Aug - close price
rustomjee.com BSE: 543669 NSE: RUSTOMJEE
About

Incorporated in 1995, Keystone Realtors Limited is one of the prominent real estate developers. The company is engaged primarily in the business of real estate construction, development, and other related activities in India[1]

Key Points

Business Overview
The company is a prominent MMR-based real estate developer and a leader in the redevelopment space. [1] It develops integrated townships, gated communities, standalone landmarks, retail spaces, commercial projects, and social infrastructure such as schools, clubhouses, and parks within townships under its brand Rustomjee. [2]

Website BSE NSE
  • Market Cap ₹ 4,898 Cr.
  • Current Price ₹ 388
  • High / Low ₹ 675 / 359
  • Stock P/E 145
  • Book Value ₹ 205
  • Dividend Yield 0.39 %
  • ROCE 2.76 %
  • ROE 1.59 %
  • Face Value ₹ 10.0
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Pros

  • Company is expected to give good quarter

Cons

  • Company has a low return on equity of 3.65% over last 3 years.
  • Earnings include an other income of Rs.162 Cr.
  • Dividend payout has been low at 6.74% of profits over last 3 years
  • Debtor days have increased from 18.1 to 35.4 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Consumer Discretionary Realty Realty Residential, Commercial Projects

Part of BSE 1000 BSE Consumer Discretionary

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
254.82 581.37 60.30 113.96 127.98 62.99 34.68 324.98 68.43 334.64 55.71 209.67 88.87
184.37 596.75 71.09 113.39 123.43 84.58 65.88 297.49 101.35 352.47 80.92 212.98 100.02
Operating Profit 70.45 -15.38 -10.79 0.57 4.55 -21.59 -31.20 27.49 -32.92 -17.83 -25.21 -3.31 -11.15
OPM % 27.65% -2.65% -17.89% 0.50% 3.56% -34.28% -89.97% 8.46% -48.11% -5.33% -45.25% -1.58% -12.55%
31.13 23.74 34.85 48.96 43.18 53.93 45.99 62.02 53.57 57.62 29.56 38.23 37.03
Interest 0.33 0.94 12.43 17.94 13.64 11.67 9.94 8.17 4.72 6.59 12.21 12.30 12.12
Depreciation 1.38 1.46 1.57 2.39 2.30 2.38 2.53 5.06 3.98 3.36 3.41 4.02 4.31
Profit before tax 99.87 5.96 10.06 29.20 31.79 18.29 2.32 76.28 11.95 29.84 -11.27 18.60 9.45
Tax % 23.51% 24.16% 27.04% 20.38% 26.23% 26.19% 33.19% 27.96% -13.81% 25.80% -23.07% 26.61% 30.16%
76.39 4.52 7.34 23.25 23.45 13.50 1.55 54.95 13.60 22.14 -8.67 13.65 6.60
EPS in Rs 6.71 0.40 0.64 2.04 1.86 1.07 0.12 4.36 1.08 1.75 -0.69 1.08 0.52
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
273 1,414 267 530 851 328 1,010 551 668 689
290 1,275 269 459 742 251 966 571 748 746
Operating Profit -17 139 -2 72 109 77 45 -21 -79 -58
OPM % -6% 10% -0.9% 13% 13% 23% 4.4% -3.8% -12% -8%
0 62 104 59 75 83 139 205 179 162
Interest 0 69 47 57 25 9 32 43 36 43
Depreciation 0 2 1 1 3 4 7 12 15 15
Profit before tax -17 130 53 72 156 146 145 129 49 47
Tax % 0% 22% 29% 45% 23% 25% 23% 27% 17%
-17 102 38 40 120 109 112 93 41 34
EPS in Rs -63,962.96 10.19 3.75 3.99 12.00 9.59 9.79 7.42 3.23 2.66
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 20% 0%
Compounded Sales Growth
10 Years: %
5 Years: 5%
3 Years: 27%
TTM: 40%
Compounded Profit Growth
10 Years: %
5 Years: 0%
3 Years: -28%
TTM: -60%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: -12%
1 Year: -34%
Return on Equity
10 Years: %
5 Years: 6%
3 Years: 4%
Last Year: 2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 0.03 100 100 100 100 114 114 126 126
Reserves 373 410 449 488 608 1,401 1,523 2,408 2,461
694 762 754 732 813 458 758 374 656
495 1,229 1,237 1,248 972 1,248 920 989 784
Total Liabilities 1,562 2,502 2,539 2,568 2,493 3,221 3,315 3,896 4,027
7 31 30 29 33 38 49 65 55
CWIP 5 0 0 0 0 0 0 0 0
Investments 750 245 236 484 553 584 417 468 523
799 2,226 2,273 2,055 1,908 2,599 2,850 3,363 3,449
Total Assets 1,562 2,502 2,539 2,568 2,493 3,221 3,315 3,896 4,027

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
333 80 351 15 95 228 -177 -347
-68 54 -126 -108 -90 -840 133 -41
-282 -108 -129 2 275 429 336 222
Net Cash Flow -17 26 97 -92 280 -182 292 -166
Free Cash Flow 333 79 350 14 90 224 -193 -351
CFO/OP 251% -4,023% 505% 29% 181% 587% 700% 416%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 69 41 43 14 32 45 4 14 35
Inventory Days 851 1,378 1,822 752 900
Days Payable 107 179 356 194 249
Cash Conversion Cycle 69 785 43 1,214 1,498 45 562 14 687
Working Capital Days 263 28 570 -15 46 642 550 1,127 1,026
ROCE % 8% 10% 13% 9% 8% 6% 3%

Insights

In beta
Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Area Sold
Mn Sq Ft

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Average Realization per Sq Ft
INR per Sq Ft
Collections
INR Bn
Pre-Sales Value
INR Bn
Forthcoming Pipeline - Estimated GDV
INR Bn
Forthcoming Pipeline - Saleable Area
Mn Sq Ft
Project Additions / Business Development (GDV)
INR Bn
Project Launches (GDV)
INR Bn

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Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
86.71% 86.70% 86.70% 78.35% 78.35% 78.35% 78.34% 78.34% 78.25% 74.59% 74.59% 74.59%
1.53% 2.44% 2.33% 3.24% 3.40% 3.28% 3.10% 2.81% 3.07% 3.07% 2.54% 2.35%
7.97% 8.19% 8.72% 16.39% 16.12% 16.15% 16.19% 16.30% 15.76% 16.61% 17.13% 16.38%
3.80% 2.68% 2.26% 2.02% 2.11% 2.22% 2.37% 2.53% 2.92% 5.74% 5.75% 6.69%
No. of Shareholders 18,56016,73915,80015,79218,35718,94319,14419,66919,44719,54418,91719,787

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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