Keystone Realtors
Keystone Realtors (RUSTOMJEE) share price was ₹336.10 at the 28 Oct 2026 close; market capitalisation ₹4,243 Cr; P/E (TTM) 36.10; sector Realty. The share price fell 40.6% over the year to 28 Oct 2026 (adjusted for splits and bonuses). In the Jun 2026 quarter, revenue rose 72.2% year on year to ₹470.3 Cr and net profit was ₹52 Cr, against ₹16 Cr a year earlier (compared with Jun 2025). Promoters held 74.54% of Keystone Realtors in Sep 2026, down 0.05 percentage points from Jun 2026. Its Tapetide Score is 39/100 (Weak) as of 28 Oct 2026.
Key Fundamentals
MicrocapRealtyConsumer DiscretionaryPrice-based figures as of 28 Oct 2026, 15:31 IST · EPS basis: Consolidated · TTM
Peer Comparison
Consumer Discretionary › Realty › Residential Commercial Projects › Residential, Commercial Projects
| ₹666.30 | 36.11 | 1,64,930 Cr | 3.62 | 1.19% | 5.77% | 6.35% | 8,504 Cr | 4,567 Cr | |
| ₹1,007.10 | 24.38 | 1,00,643 Cr | 4.41 | 0.42% | 14.64% | 18.07% | 18,603 Cr | 4,129 Cr | |
| ₹1,899.30 | 53.07 | 67,934 Cr | 6.18 | 0.13% | 10.88% | 11.84% | 4,724 Cr | 1,629 Cr | |
| ₹1,392.20 | 52.64 | 59,966 Cr | 3.69 | 0.14% | 7.80% | 12.91% | 13,597 Cr | 1,265 Cr | |
| ₹1,601.00 | 22.13 | 58,213 Cr | 3.05 | 0.25% | 13.99% | 16.74% | 6,501 Cr | 2,632 Cr | |
| ₹1,587.00 | 29.87 | 47,805 Cr | 2.47 | 0.63% | 9.51% | 12.01% | 8,849 Cr | 1,591 Cr | |
| ₹538.35 | 25.27 | 17,564 Cr | 2.58 | 0.36% | 9.63% | 9.89% | 5,805 Cr | 784 Cr | |
| Keystone Realtors (this company) | ₹336.10 | 36.10 | 4,243 Cr | 1.51 | 0.45% | 3.28% | 5.35% | 2,930 Cr | 131 Cr |
| Median 8 companies | ₹1,199.65 | 32.99 | 59,089 Cr | 3.34 | 0.39% | 9.57% | 11.93% | 7,503 Cr | 1,610 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the live price; other metrics are as reported in filings. A dash means the figure is not published for that company.
Tapetide Score
Data-driven rating, 0–100. How it works →
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Category scores
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Strengths
1- Company is expected to give good quarter
Weaknesses
4- Company has a low return on equity of 5.31% over last 3 years.
- Earnings include an other income of Rs.98.0 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.
Technical Indicators
Oscillators
Neutral
Overall
Bearish
Moving Averages
Bearish
4 of 4 analysts rate Buy, 0 Hold, 0 Sell.
Updated 28 Oct 2026
Growth Rate
change over 1 year
change over 1 year
change over 1 year Operating margin 17% · Jun 2026
AI Analysis — Bull vs Bear
Keystone Realtors trades at a market cap of ₹5,444 Cr with a PE of 57.6x, reflecting premium valuation despite a 54% TTM profit decline. The company has delivered strong 57% sales CAGR over 3 years but ROE remains subdued at 5.31% over the same period, presenting a mixed fundamental picture.
- Exceptional 3-year compounded sales growth of 57%, indicating strong topline momentum and project execution
- TTM revenue growth of 31% suggests continued demand traction in ongoing projects
- 5-year compounded sales CAGR of 25% demonstrates sustained long-term revenue expansion
- Company is expected to deliver a good upcoming quarter based on project launches and pre-sales pipeline
- Price-to-book ratio of 1.91x is relatively modest for a branded Mumbai-focused real estate developer
- Other income of ₹85.3 Cr provides earnings cushion and indicates healthy treasury or JV income streams
- Stock has corrected 32% over 1 year from highs, potentially compressing valuation from peak levels
- TTM compounded profit declined 54%, signaling severe margin compression or one-time hits despite strong revenue growth
- PE ratio of 57.6x is elevated, especially given that profits have declined at -1% CAGR over 3 years
- Return on equity of just 5.31% over 3 years (3% last year) indicates poor capital efficiency for shareholders
- Debtor days increased from 26.5 to 47.0 days, reflecting deteriorating receivables collection and potential cash flow stress
- Dividend payout of only 3.66% of profits over 3 years with a 0.35% yield offers negligible income to shareholders
- 5-year compounded profit CAGR of -24% shows a persistent inability to convert revenue growth into bottom-line gains
- Tax rate appears low, raising questions about sustainability of reported earnings and potential future tax normalization
- Earnings quality concern as other income of ₹85.3 Cr forms a material portion of profits, masking weaker operating performance
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Investor meet scheduled Jun 16 Jun 9
Keystone Realtors will hold an analyst and institutional investor meeting on June 16, 2026, in Mumbai covering publicly available information.
TL;DR: Limited recent news flow for Keystone Realtors with only a routine investor meeting announcement. No identifiable headwinds or positive catalysts from the current news set. The upcoming June 16 investor interaction could provide forward guidance that moves sentiment in either direction.
Analyst Forecasts
Quarterly Results
| Particulars | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 272 | 618 | 521 | 812 | 422 | 533 | 464 | 585 | 273 | 499 | 266 | 1,596 | 470 |
| Expenses | 209 | 632 | 512 | 762 | 381 | 455 | 427 | 537 | 261 | 484 | 256 | 1,514 | 388 |
| Operating Profit | 63 | -14 | 9 | 50 | 41 | 78 | 38 | 48 | 12 | 15 | 10 | 81 | 82 |
| OPM % | 23% | -2.3% | 1.6% | 6% | 10% | 15% | 8% | 8% | 4.3% | 3% | 3.7% | 5% | 17% |
| Other Income | 11 | 25 | 34 | 15 | 15 | 23 | 22 | 57 | 16 | 22 | 28 | 25 | 24 |
| Interest | 7 | 7 | 7 | 20 | 17 | 10 | 12 | 13 | 7 | 16 | 23 | 33 | 31 |
| Depreciation | 1 | 2 | 2 | 3 | 2 | 3 | 3 | 6 | 4 | 4 | 4 | 6 | 5 |
| PBT | 67 | 2 | 34 | 42 | 37 | 88 | 45 | 87 | 16 | 17 | 10 | 67 | 70 |
| Tax % | 30% | -108% | 11% | 28% | 31% | 26% | 33% | 23% | -3% | 41% | 52% | 5% | 26% |
| Net Profit | 47 | 4 | 30 | 30 | 26 | 66 | 30 | 67 | 16 | 10 | 5 | 64 | 52 |
| EPS (₹) | 4.12 | 0.38 | 2.65 | 2.69 | 2.05 | 5.26 | 1.2 | 5.14 | 1.15 | 0.68 | 0.27 | 4.15 | 4.21 |
Profit & Loss
| Particulars | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,211 | 849 | 1,269 | 686 | 2,222 | 2,004 | 2,635 | 2,832 |
| Expenses | 1,075 | 746 | 1,092 | 582 | 2,113 | 1,800 | 2,512 | 2,643 |
| Operating Profit | 136 | 102 | 178 | 104 | 110 | 204 | 122 | 189 |
| OPM % | 11% | 12% | 14% | 15% | 4.9% | 10% | 4.6% | 7% |
| Other Income | 57 | 329 | 34 | 44 | 82 | 117 | 85 | 98 |
| Interest | 128 | 140 | 23 | 36 | 40 | 51 | 79 | 102 |
| Depreciation | 2 | 2 | 3 | 5 | 7 | 13 | 18 | 19 |
| PBT | 63 | 290 | 184 | 108 | 144 | 257 | 110 | 165 |
| Tax % | 77% | 20% | 26% | 26% | 23% | 27% | 14% | — |
| Net Profit | 14 | 232 | 136 | 80 | 111 | 188 | 95 | 131 |
| EPS (₹) | 2.2 | 31.04 | 13.96 | 7.2 | 9.85 | 13.64 | 6.25 | 9.31 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 11% | 0% | — |
Balance Sheet
| Particulars | 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 |
| Borrowings | 2,514 | 1,220 | 1,563 | 1,030 | 1,101 | 930 | 1,484 |
| Other Liabilities | 1,474 | 1,633 | 1,382 | 1,816 | 3,033 | 2,894 | 2,363 |
| Total Liabilities | 4,415 | 3,654 | 3,877 | 4,515 | 5,932 | 6,596 | 6,710 |
| Fixed Assets | 195 | 29 | 33 | 39 | 355 | 375 | 366 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 5 | 595 | 575 | 642 | 456 | 484 | 546 |
| Other Assets | 4,215 | 3,029 | 3,268 | 3,834 | 5,121 | 5,737 | 5,798 |
| Total Assets | 4,415 | 3,654 | 3,877 | 4,515 | 5,932 | 6,596 | 6,710 |
Cash Flow
| Particulars | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Operating | 351 | 642 | -110 | 306 | 183 | -11 | -509 |
| Investing | -200 | -235 | -138 | 27 | -278 | -65 | -79 |
| Financing | 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/EBITDA | 290 | 646 | -45 | 343 | 204 | 15 | -384 |
Ratios
| Particulars | 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 | — | 3,622 |
| Days Payable | 380 | 555 | — | — | 256 | — | 1,032 |
| Cash Conversion Cycle | 3,431 | 4,653 | 33 | 33 | 1,242 | 15 | 2,637 |
| Working Capital Days | -58 | 90 | 94 | 398 | 212 | 264 | 217 |
| ROCE % | — | 18% | 9% | 5% | 7% | 9% | 5% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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60 extracted metrics + investor summaries across FY20–FY27.
Documents
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Company Information
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]
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