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Keystone Realtors Ltd.
(RUSTOMJEE)
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Rating:49Neutral
Price Target:
₹421.00
▼(-20.90% Downside)
Action:Reiterated
Date:06/30/26
The score is held back primarily by materially negative operating/free cash flow over the last two years and sharp FY2026 margin compression despite strong revenue growth. Moderate leverage (improved vs earlier years but rising vs FY2025) adds some risk. Valuation is also a headwind given the high P/E and low dividend yield, while technical signals could not be assessed due to missing indicator data.
Positive Factors
Revenue rebound / demand recovery
A ~44.7% YoY revenue rebound in FY2026 indicates improving demand and/or successful project deliveries. Durable benefit: stronger project turnovers increase contracted cash inflows and revenue visibility, supporting execution capacity and sales momentum over the next several quarters if delivery cadence continues.
Negative Factors
Negative operating and free cash flow
Back-to-back negative operating and free cash flows materially increase funding and execution risk. For a developer, persistent cash deficits force reliance on external debt, customer advances or asset monetization, which can delay projects, pressure margins, and constrain growth over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue rebound / demand recovery
A ~44.7% YoY revenue rebound in FY2026 indicates improving demand and/or successful project deliveries. Durable benefit: stronger project turnovers increase contracted cash inflows and revenue visibility, supporting execution capacity and sales momentum over the next several quarters if delivery cadence continues.
Read all positive factors
Keystone Realtors Ltd. (RUSTOMJEE) vs. iShares MSCI India ETF (INDA)
Market Cap
₹53.39B
Dividend Yield0.28%
Average Volume (3M)3.18K
Price to Earnings (P/E)67.1
Beta (1Y)1.00
Revenue Growth31.46%
EPS Growth-54.59%
CountryIN
Employees759
SectorGeneral
Sector StrengthN/A
IndustryReal Estate - Development
Share Statistics
EPS (TTM)6.25
Shares Outstanding126,240,410
10 Day Avg. Volume7,544
30 Day Avg. Volume3,176
Financial Highlights & Ratios
PEG Ratio-1.09
Price to Book (P/B)1.65
Price to Sales (P/S)1.79
P/FCF Ratio-10.16
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)25.67
Revenue Forecast (FY)₹29.68B
Keystone Realtors Ltd. Business Overview & Revenue Model
Company Description
Operating primarily within India, Keystone Realtors Limited functions as a real estate development firm. This enterprise engages in a diverse range of property projects, including residential dwellings, upscale gated communities, integrated townsh...
How the Company Makes Money
Keystone Realtors Ltd. primarily makes money by developing real estate projects and monetizing them through the sale of units (typically apartments and, where applicable, commercial units) to end customers. Revenue is generally recognized from cus...
Keystone Realtors Ltd. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
67
Positive
Cash Flow
34
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 26.35B | 20.04B | 22.22B | 6.86B | 12.69B |
| Gross Profit | 3.70B | 5.58B | 3.59B | 2.48B | 2.74B |
| EBITDA | 1.27B | 2.20B | 1.92B | 1.43B | 2.13B |
| Net Income | 788.60M | 1.72B | 1.12B | 819.50M | 1.40B |
Balance Sheet | |||||
| Total Assets | 67.23B | 66.49B | 59.72B | 45.15B | 38.77B |
| Cash, Cash Equivalents and Short-Term Investments | 8.86B | 7.99B | 3.09B | 3.83B | 2.06B |
| Total Debt | 14.84B | 9.30B | 11.01B | 10.30B | 15.63B |
| Total Liabilities | 38.28B | 38.65B | 41.77B | 28.28B | 29.14B |
| Stockholders Equity | 28.63B | 27.72B | 17.98B | 16.69B | 9.33B |
Cash Flow | |||||
| Free Cash Flow | -4.65B | -306.90M | 1.79B | 2.99B | -1.10B |
| Operating Cash Flow | -4.56B | -113.90M | 1.83B | 3.06B | -1.10B |
| Investing Cash Flow | -1.86B | -649.10M | -2.78B | 266.60M | -1.38B |
| Financing Cash Flow | 4.73B | 4.84B | -383.00M | -301.90M | 1.54B |
Keystone Realtors Ltd. Technical Analysis
Neutral
532.25
Price Trends
403.59
Positive
405.06
Positive
474.74
Negative
Market Momentum
7.05
Negative
55.74
Neutral
49.45
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:RUSTOMJEE, the sentiment is Neutral. The current price of 532.25 is above the 20-day moving average (MA) of 410.25, above the 50-day MA of 403.59, and above the 200-day MA of 474.74, indicating a neutral trend. The MACD of 7.05 indicates Negative momentum. The RSI at 55.74 is Neutral, neither overbought nor oversold. The STOCH value of 49.45 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:RUSTOMJEE.
Keystone Realtors Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹72.18B | 23.02 | ― | 0.63% | -46.72% | -47.12% | |
57 Neutral | ₹48.08B | 23.26 | ― | 0.36% | 29.46% | 35.84% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | ₹73.60B | 519.43 | ― | ― | 18.88% | -67.41% | |
51 Neutral | ₹80.88B | 25.76 | ― | 0.70% | 216.52% | 285.20% | |
51 Neutral | ₹53.07B | 92.34 | ― | ― | 83.76% | ― | |
49 Neutral | ₹53.39B | 67.09 | ― | 0.28% | 31.46% | -54.59% |
* General Sector Average
IN:RUSTOMJEE
Keystone Realtors Ltd.
419.70
-241.40
-36.51%
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Keystone Realtors Ltd. Corporate Events
Keystone Realtors Reschedules Q4 FY26 Earnings Call for May 12
May 8, 2026
Keystone Realtors Ltd. announced a revised schedule for its Q4 FY26 and full-year FY26 earnings conference call with analysts and investors, now set for Tuesday, May 12, 2026, at 4:00 p.m. IST. The call will cover audited standalone and consolidat...
Keystone Realtors Names Veteran HR Leader Salil Chinchore as Group CHRO
Apr 16, 2026
Keystone Realtors has appointed veteran HR leader Salil Chinchore as its Group Chief Human Resources Officer, effective April 16, 2026. The move signals a strategic push to strengthen the company’s people function as it scales its operations...
Keystone Realtors Posts Record Pre-Sales, Doubles Redevelopment Pipeline in FY26
Apr 6, 2026
Keystone Realtors reported robust operational momentum in FY26, with pre-sales rising 33% year-on-year to INR 40.22 billion and collections up 13% to INR 26.21 billion, while area sold grew 25%. In Q4 FY26, the developer delivered its highest-ever...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.