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 ₹ 7,851 Cr.
- Current Price ₹ 623
- High / Low ₹ 801 / 480
- Stock P/E 45.7
- Book Value ₹ 220
- Dividend Yield 0.24 %
- ROCE 9.33 %
- ROE 7.53 %
- Face Value ₹ 10.0
Pros
- Debtor days have improved from 21.7 to 15.2 days.
Cons
- Stock is trading at 2.84 times its book value
- Company has a low return on equity of 6.81% over last 3 years.
- Earnings include an other income of Rs.117 Cr.
- Dividend payout has been low at 3.66% 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|
1,211 | 849 | 1,269 | 686 | 2,222 | 2,004 | |
1,075 | 746 | 1,092 | 582 | 2,113 | 1,800 | |
Operating Profit | 136 | 102 | 178 | 104 | 110 | 204 |
OPM % | 11% | 12% | 14% | 15% | 5% | 10% |
57 | 329 | 34 | 44 | 82 | 117 | |
Interest | 128 | 140 | 23 | 36 | 40 | 51 |
Depreciation | 2 | 2 | 3 | 5 | 7 | 13 |
Profit before tax | 63 | 290 | 184 | 108 | 144 | 257 |
Tax % | 77% | 20% | 26% | 26% | 23% | 27% |
14 | 232 | 136 | 80 | 111 | 188 | |
EPS in Rs | 2.20 | 31.04 | 13.96 | 7.20 | 9.85 | 13.64 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 11% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 11% |
3 Years: | 16% |
TTM: | -10% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 64% |
3 Years: | 8% |
TTM: | 55% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | -13% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 11% |
3 Years: | 7% |
Last Year: | 8% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|
Equity Capital | 100 | 100 | 100 | 114 | 114 | 126 |
Reserves | 327 | 701 | 833 | 1,556 | 1,684 | 2,646 |
2,514 | 1,220 | 1,563 | 1,030 | 1,101 | 930 | |
1,474 | 1,633 | 1,382 | 1,816 | 3,033 | 2,947 | |
Total Liabilities | 4,415 | 3,654 | 3,877 | 4,515 | 5,932 | 6,649 |
195 | 29 | 33 | 39 | 355 | 375 | |
CWIP | 0 | 0 | 0 | 0 | 0 | 0 |
Investments | 5 | 595 | 575 | 642 | 456 | 484 |
4,215 | 3,029 | 3,268 | 3,834 | 5,121 | 5,790 | |
Total Assets | 4,415 | 3,654 | 3,877 | 4,515 | 5,932 | 6,649 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|
351 | 642 | -110 | 306 | 183 | -11 | |
-200 | -235 | -138 | 27 | -278 | -65 | |
171 | -609 | 154 | -30 | -38 | 484 | |
Net Cash Flow | 323 | -202 | -93 | 303 | -132 | 408 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|
Debtor Days | 19 | 16 | 33 | 33 | 17 | 15 |
Inventory Days | 3,791 | 5,193 | 1,482 | 974 | ||
Days Payable | 380 | 555 | 256 | 200 | ||
Cash Conversion Cycle | 3,431 | 4,653 | 33 | 33 | 1,242 | 790 |
Working Capital Days | 612 | 532 | 501 | 890 | 291 | 384 |
ROCE % | 18% | 9% | 5% | 7% | 9% |
Documents
Announcements
- Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot 2d
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
15 Jul - Find copy of certificate received from RTA in compliance with Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended on June …
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
11 Jul - Pursuant to Regulation 30(6) of SEBI (LODR) Regulations, 2015, the schedule of Analyst / Institutional Investor Meeting with the Company is as under:- Date: 21-07-2025 …
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
8 Jul - Scheduled virtual analyst meeting with Morgan Stanley on July 15, 2025; public info only.
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Key Operational Updates For Q1 FY26
7 Jul - Q1 FY26 pre-sales up 75%, launched 3 projects worth INR 40bn, credit rating upgraded to ICRA A+.
Concalls
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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]