Keystone Realtors Ltd

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

Keystone Realtors Ltd

₹ 397 -0.77%
27 May - 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 ₹ 5,014 Cr.
  • Current Price ₹ 397
  • High / Low ₹ 697 / 359
  • Stock P/E 63.6
  • Book Value ₹ 227
  • Dividend Yield 0.38 %
  • ROCE 4.68 %
  • ROE 2.80 %
  • Face Value ₹ 10.0
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Pros

  • Company is expected to give good quarter

Cons

  • Tax rate seems low
  • Company has a low return on equity of 5.31% over last 3 years.
  • Earnings include an other income of Rs.85.3 Cr.
  • Dividend payout has been low at 3.66% of profits over last 3 years
  • Debtor days have increased from 26.5 to 47.0 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 Consumer Discretionary BSE 1000

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
344 272 618 521 812 422 533 464 585 273 499 266 1,596
247 209 632 512 762 381 455 427 537 261 484 256 1,514
Operating Profit 97 63 -14 9 50 41 78 38 48 12 15 10 81
OPM % 28% 23% -2% 2% 6% 10% 15% 8% 8% 4% 3% 4% 5%
22 11 25 34 15 15 23 22 57 16 22 28 25
Interest 22 7 7 7 20 17 10 12 13 7 16 23 33
Depreciation 2 1 2 2 3 2 3 3 6 4 4 4 6
Profit before tax 95 67 2 34 42 37 88 45 87 16 17 10 67
Tax % 22% 30% -108% 11% 28% 31% 26% 33% 23% -3% 41% 52% 5%
74 47 4 30 30 26 66 30 67 16 10 5 64
EPS in Rs 6.73 4.12 0.38 2.65 2.69 2.05 5.26 1.20 5.14 1.15 0.68 0.27 4.15
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1,211 849 1,269 686 2,222 2,004 2,635
1,075 746 1,092 582 2,113 1,800 2,512
Operating Profit 136 102 178 104 110 204 122
OPM % 11% 12% 14% 15% 5% 10% 5%
57 329 34 44 82 117 85
Interest 128 140 23 36 40 51 79
Depreciation 2 2 3 5 7 13 18
Profit before tax 63 290 184 108 144 257 110
Tax % 77% 20% 26% 26% 23% 27% 14%
14 232 136 80 111 188 95
EPS in Rs 2.20 31.04 13.96 7.20 9.85 13.64 6.25
Dividend Payout % 0% 0% 0% 0% 0% 11% 0%
Compounded Sales Growth
10 Years: %
5 Years: 25%
3 Years: 57%
TTM: 31%
Compounded Profit Growth
10 Years: %
5 Years: -24%
3 Years: -1%
TTM: -54%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: -8%
1 Year: -24%
Return on Equity
10 Years: %
5 Years: 6%
3 Years: 5%
Last Year: 3%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 100 100 100 114 114 126 126
Reserves 327 701 833 1,556 1,684 2,646 2,737
2,514 1,220 1,563 1,030 1,101 930 1,484
1,474 1,633 1,382 1,816 3,033 2,894 2,375
Total Liabilities 4,415 3,654 3,877 4,515 5,932 6,596 6,723
195 29 33 39 355 375 366
CWIP 0 0 0 0 0 0 0
Investments 5 595 575 642 456 484 546
4,215 3,029 3,268 3,834 5,121 5,737 5,811
Total Assets 4,415 3,654 3,877 4,515 5,932 6,596 6,723

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
351 642 -110 306 183 -11 -509
-200 -235 -138 27 -278 -65 -79
171 -609 154 -30 -38 484 418
Net Cash Flow 323 -202 -93 303 -132 408 -169
Free Cash Flow 349 642 -110 299 179 -31 -517
CFO/OP 290% 646% -45% 343% 204% 15% -384%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 19 16 33 33 17 15 47
Inventory Days 3,791 5,193 1,482 642
Days Payable 380 555 256 183
Cash Conversion Cycle 3,431 4,653 33 33 1,242 15 506
Working Capital Days -58 90 94 398 212 264 218
ROCE % 18% 9% 5% 7% 9% 5%

Insights

In beta
Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Area Sold (Saleable)
Million Sq. Ft.

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Collections
INR Million
Pre-Sales Value
INR Million
Total Construction Area Developed (Cumulative)
Million Sq. Ft.
Forthcoming Projects - Estimated GDV
INR Billion

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
86.71% 86.71% 86.70% 86.70% 78.35% 78.35% 78.35% 78.34% 78.34% 78.25% 74.59% 74.59%
1.49% 1.53% 2.44% 2.33% 3.24% 3.40% 3.28% 3.10% 2.81% 3.07% 3.07% 2.54%
7.86% 7.97% 8.19% 8.72% 16.39% 16.12% 16.15% 16.19% 16.30% 15.76% 16.61% 17.13%
3.95% 3.80% 2.68% 2.26% 2.02% 2.11% 2.22% 2.37% 2.53% 2.92% 5.74% 5.75%
No. of Shareholders 21,21518,56016,73915,80015,79218,35718,94319,14419,66919,44719,54418,917

* 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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