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    Real estate development
Keystone Realtors Ltd.

Keystone Realtors Ltd.

341.90
INR
+6.40
(+1.91%)
10.33EPS
44.82P/E
52.81BMarket Cap
Nov 04Next Earn
Keystone Realtors Ltd.
NSE:RUSTOMJEE
(National Stock Exchange of India)

Recent

price

341.90

P/E

ratio

44.82

div

yld

- -

ROIC.AI

2020
2021
2022
2023
2024
2025
2026
TTM
INR
104.72
70.02
123.46
60.46
189.95
154.72
202.82
224.98
Revenue per Share
1.93
27.27
13.77
7.67
9.85
13.85
6.25
9.33
Basic EPS, GAAP
30.62
56.34
-10.84
28.02
15.7
-2.47
-41.04
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
1.5
- -
Dividend per Share
37.52
70.33
81.9
146.6
157.85
219.95
226.82
- -
Book Value per Share
23.89
68.92
80.5
145.21
129.91
194.7
201.61
- -
Tangible Book Value per Share
114
114
101
107
114
124
126
126
Basic Weighted Avg Shares
11,926
7,974
12,522
6,461
21,631
19,210
25,582
28,317
Sales/Revenue/Turnover
11.23
17.36
14.1
15.88
4.79
11.03
4.12
6.06
Operating Margin (%)
33
20
36
48
79
137
185
190
Depreciation Expense
220
3,105
1,396
820
1,122
1,720
789
1,175
Net Income, GAAP
77.09
19.93
26.33
26.2
23.14
26.79
14.07
20.6
Effective Tax Rate (%)
1.84
38.94
11.15
12.68
5.19
8.95
3.08
4.15
Profit Margin (%)
2,051
4,962
5,708
11,648
16,634
23,058
24,558
- -
Working Capital
2,906
1,918
1,449
1,057
6,231
2,790
4,310
- -
LT Debt
2,801
8,238
9,632
16,867
17,942
27,846
28,944
- -
Total Equity
- -
13.17
6.12
3.08
2.95
4.45
2.19
- -
Return on Invested Capital (%)
- -
20.7
7.02
4.23
5.14
5.85
3.23
- -
Return on Capital (%)
- -
50.56
16.11
6.3
6.47
7.53
2.8
- -
Return on Common Equity (%)

Capital Structure

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
ST Debt
- -
10,530
- -
LT Borrowings
- -
4,172
- -
LT Finance Leases
- -
138
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
126
126
126
Market Capitalization
66,485
47,232
52,813

Working Capital

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
Total Current Assets
- -
56,319
- -
Cash, Cash Equivalents & STI
- -
8,635
- -
Accounts Receivable, Net
- -
3,390
- -
Inventories
- -
36,694
- -
Total Current Liabilities
- -
31,761
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
10,530
- -
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
31.51%
3.94%
Free Cash Flow
- -
187.93%
1,586.64%
Net Income, GAAP
- -
-12.06%
-54.14%
Sales/Revenue/Turnover
- -
53.08%
33.17%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
4,222
5,331
4,640
5,849
19,210
2026
2,731
4,993
2,662
15,960
25,582
2027
4,703
- -
- -
- -
- -

Quarterly Earnings Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
2.16
5.36
1.2
5.14
13.85
2026
1.15
0.68
0.27
4.15
6.25
2027
4.21
- -
- -
- -
- -

Quarterly Dividends Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
1.5
2027
- -
- -
- -
- -
- -
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Business
Keystone Realtors Limited (RUSTOMJEE.NS), operating under the brand Rustomjee, is an India-based real estate developer primarily engaged in the construction and development of residential buildings including 1-5 BHK apartments, premium gated estates, integrated townships, standalone landmarks, corporate parks, retail spaces, clubhouses, schools, and parks within townships; it also offers commercial properties and eco-friendly construction solutions across the Mumbai Metropolitan Region (MMR). Founded in 1995 and headquartered at 702 Natraj, M.V. Road Junction, Western Express Highway, Andheri East, Mumbai, the company follows an asset-light model through joint development agreements, redevelopment projects with societies and landowners, and slum rehabilitation initiatives, targeting mid-market, aspirational, luxury, and commercial segments with approximately 37 completed projects, 16 ongoing, and 28 forthcoming spanning over 25 million square feet developed and 42 million square feet in the pipeline. Recent developments include the addition of three strategic redevelopment projects in H1 FY26—GTB Nagar in Sion, Lokhandwala Cluster in Andheri West, and Swarganga CHSL in Goregaon East—with a combined saleable area of 3.25 million square feet and estimated gross development value (GDV) of INR 7,727 crore, surpassing full-year FY26 business development guidance; the launch of four projects in H1 FY26 including "33 Fifteen" at Bandra West (0.21 million square feet, GDV INR 949 crore), achieving 70% of annual launch targets with total GDV of INR 4,916 crore; selection for cluster redevelopment of eight housing societies in Andheri West (GDV nearly INR 3,000 crore) and 25 MHADA buildings in GTB Nagar (revenue potential INR 4,521 crore); raising INR 335 crore via listed non-convertible debentures; and an offer for sale of 4.576 million equity shares by promoters aggregating INR 252 crore in November 2025, alongside plans for expansion into Pune and Nagpur markets.