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Sourced from BSE corporate announcements (equity segment). Companies covered are BSE-listed and most are also listed on NSE. We show only material filings.
Keystone Realtors held an earnings call, confirming strong sales, higher profits, and new project launches for Q2 FY27.
🤖 AI Summary
Keystone Realtors recorded highest-ever quarterly presales of INR 1,423 crores in Q2 FY27, an 84% year-on-year growth.
EBITDA increased 100% year-on-year to INR 74 crores in Q2 FY27, with margins expanding to 14.5% from 7.1%.
Profit After Tax (PAT) grew to INR 101 crores in Q2 FY27, up from INR 10 crores in Q2 FY26.
Launched new projects (Rustomjee Ozone Skye, 25HQ) with a combined Gross Development Value (GDV) of INR 2,242 crores.
Gross debt-to-equity ratio remained robust at 0.28:1, with a cash balance of INR 705 crores as of September 30, 2026.
🔢 Key Numbers - exact figures from BSE filing, not rounded
Q2 FY27 Presales
INR 1,423 crores
84%
Q2 FY27 EBITDA
INR 74 crores
100%
Q2 FY27 PAT
INR 101 crores
H1 FY27 Presales
INR 2,041 crores
11%
Q2 FY27 Revenue from Operations
INR 497 crores
Q2 FY27 EBITDA Margin
14.5%
H1 FY27 Revenue from Operations (Consolidated)
INR 967 crores
25%
H1 FY27 EBITDA (Consolidated)
INR 179.4 crores
171%
H1 FY27 PAT (Consolidated)
INR 153.1 crores
Gross Debt-to-Equity Ratio (as of Sep 30, 2026)
0.28:1
Net Debt-to-Equity Ratio (as of Sep 30, 2026)
0.04:1
Cash Balance (as of Sep 30, 2026)
INR 705 crores
New Launches Combined GDV (Q2 FY27)
INR 2,242 crores
🏢 How This Affects the Company
📈
Business Impact
The record quarterly presales of INR 1,423 crores in Q2 FY27 and new project launches with a combined GDV of INR 2,242 crores strengthen the company's project pipeline and market presence, especially in premium segments. The fund management vertical's expansion with a second fund of USD 450 million with Marubeni Corporation diversifies business.
💰
Financial Impact
Consolidated revenue from operations increased to INR 967 crores in H1 FY27, a 25% year-on-year growth. EBITDA increased 100% year-on-year to INR 74 crores in Q2 FY27, and PAT grew significantly to INR 101 crores in Q2 FY27, indicating improved profitability. The gross debt-to-equity ratio of 0.28:1 and net debt-to-equity ratio of 0.04:1 confirm a strong balance sheet and healthy liquidity with INR 705 crores cash balance.
⚙️
Operational Impact
Increased construction spends from INR 452 crores in H1 FY26 to INR 547 crores in H1 FY27, along with the implementation of precast construction technology, indicate an acceleration in construction timelines and efficiency. The addition of 2 new projects with an estimated GDV of INR 547 crores in H1 FY27 reinforces the development portfolio.
⚠️
Risk Impact
The dual AA- credit rating with stable outlook from CRISIL and ICRA decreases financial risk perception for the company. Strategic expansion into commercial real estate also diversifies revenue mix, potentially balancing risks associated with residential market fluctuations.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required by shareholders based on this earnings call transcript.
👤
Who Is Affected
Shareholders are affected by the company's financial and operational performance, including the record Q2 FY27 presales of INR 1,423 crores and 100% YoY EBITDA growth.
🔍
Management Signal
Management's actions signal a focus on accelerating project execution, expanding its development portfolio, and strengthening its financial position through strategic launches and partnerships.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
Updates on ongoing project construction — track progress of 12 million square feet under development.
Announcements regarding new project additions — observe strategic expansion in portfolio GDV.
LOW RISKStrong balance sheet with low net debt-to-equity and dual AA- credit rating from CRISIL and ICRA.
💡 Investor Takeaway
Keystone Realtors reported record quarterly presales of INR 1,423 crores in Q2 FY27, an 84% year-on-year increase from INR 772 crores. Profit After Tax rose to INR 101 crores in Q2 FY27 from INR 10 crores in Q2 FY26, confirming substantial profitability improvement.
⚖️ Strengths & Concerns
✅ Positives
Highest-ever quarterly presales of INR 1,423 crores in Q2 FY27, marking an 84% year-on-year growth.
Profit After Tax (PAT) increased to INR 101 crores in Q2 FY27, up from INR 10 crores in the corresponding period last year.
📅 Company Track Record
Keystone Realtors' previous Q2 FY27 filings on November 4, 2026, reported consolidated revenue of ₹ 31,079 lakhs, pre-sales of INR 14.23 bn, and PAT of INR 1.01 bn. Ongoing construction doubled to 8.3 Mn Sq Ft by Q2 FY27, as per investor presentation. This earnings call transcript provides further details on these results.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
What were Keystone Realtors' presales for Q2 FY27?
Keystone Realtors achieved record quarterly presales of INR 1,423 crores in Q2 FY27, reflecting an 84% year-on-year growth.
How did Keystone Realtors' EBITDA perform in Q2 FY27?
EBITDA for Keystone Realtors grew 100% year-on-year to INR 74 crores in Q2 FY27, with EBITDA margins expanding to 14.5%.
What was Keystone Realtors' Profit After Tax (PAT) in Q2 FY27?
Profit After Tax (PAT) for Keystone Realtors increased to INR 101 crores in Q2 FY27, compared to INR 10 crores in Q2 FY26.
What is Keystone Realtors' debt-to-equity ratio as of September 30, 2026?
As of September 30, 2026, Keystone Realtors maintained a gross debt-to-equity ratio of 0.28:1 and a net debt-to-equity ratio of 0.04:1.
What new projects did Keystone Realtors launch in Q2 FY27?
Keystone Realtors launched Rustomjee Ozone Skye at Malad West and commenced construction of 25HQ at Prabhadevi in Q2 FY27, with a combined GDV of INR 2,242 crores.
Questions based on this BSE filing only. For information purposes.
All BSE filings we have analysed for Keystone Realtors Ltd.
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⚠️ For Information Only - Not Investment Advice
ForgeUp Filings provides AI-generated summaries of public BSE exchange announcements (equity segment) for informational purposes only. Nothing here constitutes investment advice or a recommendation to buy, sell, or hold any security. ForgeUp is not a SEBI-registered investment advisor. All financial numbers are sourced directly from BSE filings and shown as-is. Past data is historical only. Please consult a qualified financial advisor before making investment decisions. Data sourced from BSE India public disclosures.
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