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Keystone Realtors

RUSTOMJEE NSE
₹359.50 No trade today
P/E
38.61
View as Markdown
MCP
Close 4 Nov 2026 ₹359.50 −200.90 −35.8% 1Y
Start ₹560.40

Key Fundamentals

MicrocapRealtyConsumer Discretionary

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
4.68%
Debt to Equity
0.52
EPS (TTM)
₹9.31
Book Value
₹222.45
Market Cap
—
P/E (TTM)
38.61
P/B
1.62
ROE
2.80%
Dividend Yield
0.42%
EBITDA
₹204 Cr
52W High
₹567.70
52W Low
₹327.05
Volume
0

Peer Comparison

Consumer Discretionary › Realty › Residential Commercial Projects › Residential, Commercial Projects

Keystone Realtors peer comparison
DLF
₹720.0039.02₹1,76,861 Cr3.911.13%9.50%6.32%₹6,375 Cr₹4,567 Cr
Lodha Developers
₹1,122.0027.17₹1,09,477 Cr4.510.40%15.50%16.40%₹18,181 Cr₹4,129 Cr
Phoenix Mills
₹2,079.5058.10₹73,757 Cr8.170.12%11.00%12.40%₹4,545 Cr₹1,629 Cr
Prestige Estates Projects
₹1,580.0059.74₹67,457 Cr4.180.13%7.53%10.40%₹13,053 Cr₹1,265 Cr
Oberoi Realty
₹1,710.9023.64₹61,958 Cr3.260.24%14.60%17.30%₹6,214 Cr₹2,632 Cr
Godrej Properties
₹1,739.0032.73₹51,392 Cr2.710.60%8.82%7.63%₹5,203 Cr₹1,591 Cr
Brigade Enterprises
₹541.1025.40₹17,553 Cr2.470.38%10.50%10.50%₹5,532 Cr₹784 Cr
Keystone Realtors (this company)
₹359.5038.61₹4,608 Cr1.620.42%2.80%4.68%₹2,832 Cr₹131 Cr
Median 8 companies₹1,351.0035.67₹64,707 Cr3.590.39%10.00%10.45%₹5,873 Cr₹1,610 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest 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, as of . How it works →

Overall score

39 Weak

Data confidence 100/100

Category scores

Quality
29
Poor
Returns, margins, earnings quality 22% weight
Valuation
33
Poor
Cheap vs sector & own history 24% weight
Growth
97
Strong
Sales & profit trajectory 9% weight
Financial Health
36
Poor
Solvency, leverage, coverage 9% weight
Momentum
25
Poor
Trend strength, vol-adjusted 12% weight
Ownership
44
Weak
FII/DII/promoter flows 24% weight

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

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBullish568
OscillatorsBullish162
Moving AveragesStrong Bullish406

Key readings

RSI (14)
57.58
Neutral
MACD (12,26,9)
−3.34
Bullish
SMA (50)
357.47
Bullish
SMA (200)
400.17
Bearish

As of

Analyst Rating

Based on 4 analysts
BUY100%

4 of 4 analysts rate Buy, 0 Hold, 0 Sell.

As of

BUY
4
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
5Y+25.42%
3Y+56.61%
1Y+31.49%
TTM+52.61%

Net profit

Net profit growth by window
5Y−16.35%
3Y+5.90%
1Y−49.47%
TTM−26.82%

Operating cash flow

Operating cash flow growth by window
5YTurned negative
3YTurned negative
1YOutflow widened by ₹498 Cr
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
5Y−7.38 pp
3Y−10.53 pp
1Y−5.55 pp
TTM−2.85 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2020₹1,211 Cr
Mar 2021₹849 Cr
Mar 2022₹1,269 Cr
Mar 2023₹686 Cr
Mar 2024₹2,222 Cr
Mar 2025₹2,004 Cr
Mar 2026₹2,635 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2020₹14.00 Cr
Mar 2021₹232 Cr
Mar 2022₹136 Cr
Mar 2023₹80.00 Cr
Mar 2024₹111 Cr
Mar 2025₹188 Cr
Mar 2026₹95.00 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹369 Cr +80.7% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
AI opinion · based on fundamentals
Risk high

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.

Bull Case 7
  • 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
Bear Case 8
  • 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

121d ago

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.

Neutral 1
  • 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.

Quarterly Results

₹ Cr
RUSTOMJEE quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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
22.97
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
66.28
2
34
42
37
88
45
87
16
17
10
67
69.24
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

₹ Cr
RUSTOMJEE profit and loss, annual, ₹ crore
Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
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

₹ Cr
RUSTOMJEE balance sheet, annual, ₹ crore
Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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

₹ Cr
RUSTOMJEE cash flow, annual, ₹ crore
Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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

RUSTOMJEE financial ratios, annual
Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Keystone Realtors insights

60 extracted metrics across FY20–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 74.54%
  • DIIs 16.28%
  • Public 5.04%
  • FIIs 2.44%
  • Others 1.70%

No promoter shares pledged as of 14 Oct 2026

Change since Jun 2026

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Keystone Realtors

What does Keystone Realtors Ltd do?
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
Where is Keystone Realtors Ltd (RUSTOMJEE) listed?
Keystone Realtors Ltd trades as RUSTOMJEE on the NSE and under code 543669 on the BSE.
Which sector does Keystone Realtors Ltd belong to?
Keystone Realtors Ltd is classified under the Realty sector, in the Residential Commercial Projects industry.
What is the PE ratio of Keystone Realtors Ltd?
Keystone Realtors Ltd trades at a PE ratio of 38.61 as of 4 Nov 2026, on earnings per share of ₹9.31, against a book value of ₹222.45 per share.
What is the 52-week high and low of Keystone Realtors Ltd?
Over the last 52 weeks Keystone Realtors Ltd has traded between ₹327.05 and ₹567.7 as of 4 Nov 2026.
Does Keystone Realtors Ltd pay dividends?
Keystone Realtors Ltd has a dividend yield of 0.42%.
What is the Return on Equity (ROE) of Keystone Realtors Ltd?
Keystone Realtors Ltd reported a return on equity of 2.80%. Its debt-to-equity ratio is 0.52.

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

Website rustomjee.com
Listed 24 Nov 2022
Face Value ₹10

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