Keystone Realtors reports 221% jump in April-June net profit

Realty developer Keystone Realtors, which sells homes under the Rustomjee brand, has reported a 221% year-on-year jump in consolidated net profit to Rs 52 crore for the quarter ended June, driven by higher revenue recognition and improved operating margins, even as pre-sales remained steady.

The Mumbai Metropolitan Region-focused developer posted revenue from operations of Rs 470 crore in the first quarter of 2026-27, up 72% from Rs 273 crore a year earlier.

Operating profit rose to Rs 105 crore from Rs 29 crore, while operating margin expanded to 21.3% from 10.1% in the corresponding quarter last year.


The company recorded pre-sales of Rs 617 crore during the quarter, supported by sustained demand across its projects, while collections stood at Rs 599 crore. Operating cash flow for the quarter was Rs 68 crore.

“This quarter marks a steady start to the year as we build on the strong momentum achieved in FY26. Looking ahead, we have a robust pipeline of launches having an estimated gross development value (GDV) of Rs 8,000 crore planned across the Mumbai Region over the coming quarters. These launches are expected to strengthen our market position and support our objective of achieving the pre-sales guidance for FY27, said Boman Irani, CMD, Keystone Realtors.

During the quarter, the company added two new projects with a combined GDV of Rs 547 crore and completed one project with a construction area of 0.07 million sq ft.

On the balance sheet front, the developer’s gross debt stood at about Rs 876 crore at the end of the June quarter, with a gross debt-to-equity ratio of 0.30:1 and a net debt-to-equity ratio of 0.02:1.