Keystone Realtors Ltd
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]
- Market Cap ₹ 7,964 Cr.
- Current Price ₹ 634
- High / Low ₹ 801 / 480
- Stock P/E 85.2
- Book Value ₹ 201
- Dividend Yield 0.24 %
- ROCE 6.47 %
- ROE 4.46 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is expected to give good quarter
Cons
- Stock is trading at 3.15 times its book value
- Company has a low return on equity of 6.37% over last 3 years.
- Earnings include an other income of Rs.205 Cr.
- Dividend payout has been low at 6.74% of profits over last 3 years
* 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
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
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 | |
---|---|---|---|---|---|---|---|---|
273 | 1,414 | 267 | 530 | 851 | 328 | 1,010 | 551 | |
290 | 1,275 | 269 | 459 | 742 | 251 | 965 | 571 | |
Operating Profit | -17 | 139 | -2 | 72 | 109 | 77 | 45 | -21 |
OPM % | -6% | 10% | -1% | 13% | 13% | 23% | 4% | -4% |
0 | 62 | 104 | 59 | 75 | 83 | 139 | 205 | |
Interest | 0 | 69 | 47 | 57 | 25 | 9 | 32 | 43 |
Depreciation | 0 | 2 | 1 | 1 | 3 | 4 | 7 | 12 |
Profit before tax | -17 | 130 | 53 | 72 | 156 | 146 | 145 | 129 |
Tax % | 0% | 22% | 29% | 45% | 23% | 25% | 23% | 27% |
-17 | 102 | 38 | 40 | 120 | 109 | 112 | 93 | |
EPS in Rs | -63,962.96 | 10.19 | 3.75 | 3.99 | 12.00 | 9.59 | 9.80 | 7.42 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 20% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 16% |
3 Years: | -14% |
TTM: | -46% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 20% |
3 Years: | -8% |
TTM: | -9% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | -6% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 8% |
3 Years: | 6% |
Last Year: | 4% |
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 | |
---|---|---|---|---|---|---|---|---|
Equity Capital | 0.03 | 100 | 100 | 100 | 100 | 114 | 114 | 126 |
Reserves | 373 | 410 | 449 | 488 | 608 | 1,401 | 1,539 | 2,408 |
694 | 762 | 754 | 732 | 813 | 458 | 758 | 374 | |
495 | 1,229 | 1,237 | 1,248 | 972 | 1,248 | 899 | 989 | |
Total Liabilities | 1,562 | 2,502 | 2,539 | 2,568 | 2,493 | 3,221 | 3,310 | 3,896 |
7 | 31 | 30 | 29 | 33 | 38 | 49 | 65 | |
CWIP | 5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Investments | 750 | 245 | 236 | 484 | 553 | 584 | 417 | 468 |
799 | 2,226 | 2,273 | 2,055 | 1,908 | 2,599 | 2,845 | 3,363 | |
Total Assets | 1,562 | 2,502 | 2,539 | 2,568 | 2,493 | 3,221 | 3,310 | 3,896 |
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 | |
---|---|---|---|---|---|---|---|---|
333 | 80 | 351 | 15 | 95 | 228 | -177 | ||
-68 | 54 | -126 | -108 | -90 | -840 | 133 | ||
-282 | -108 | -129 | 2 | 275 | 429 | 336 | ||
Net Cash Flow | -17 | 26 | 97 | -92 | 280 | -182 | 292 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|
Debtor Days | 69 | 41 | 43 | 14 | 32 | 45 | 4 | 14 |
Inventory Days | 851 | 1,378 | 1,822 | 686 | 1,262 | |||
Days Payable | 107 | 179 | 356 | 194 | 367 | |||
Cash Conversion Cycle | 69 | 785 | 43 | 1,214 | 1,498 | 45 | 496 | 909 |
Working Capital Days | 263 | 225 | 1,324 | 455 | 368 | 1,148 | 635 | 1,231 |
ROCE % | 8% | 10% | 13% | 9% | 8% | 6% |
Documents
Announcements
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Company Received The Letter Of Acceptance For The Redevelopment Of GTB Nagar In Sion, One Of Mumbai'S Most Impactful Urban Transformation Projects, Being Undertaken In Collaboration With Maharashtra Housing And Area Development Authority.
9h - Keystone Realtors awarded LOA for GTB Nagar redevelopment, GDV INR 4,521 Cr, benefiting 1,400+ families.
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Closure of Trading Window
28 Jun - Trading window closed from July 1, 2025, till 48 hours post Q1 financial results announcement.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 21 Jun
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Announcement under Regulation 30 (LODR)-Newspaper Publication
21 Jun - Newspaper publication wherein company has published postal ballot notice for seeking approval of shareholders for passing special resolution for issuance of securities
- Shareholder Meeting / Postal Ballot-Notice of Postal Ballot 20 Jun
Concalls
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May 2025Transcript PPT REC
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May 2025TranscriptNotesPPT
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Nov 2024Transcript PPT REC
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Aug 2024Transcript PPT REC
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May 2024Transcript PPT
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Feb 2024Transcript PPT
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Jan 2024TranscriptNotesPPT
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Nov 2023Transcript PPT
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May 2023Transcript PPT
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Feb 2023TranscriptPPT
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Feb 2023Transcript PPT REC
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]