Keystone Realtors Ltd. (IN:RUSTOMJEE)
:RUSTOMJEE
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Keystone Realtors Ltd.
(RUSTOMJEE)
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Rating:52Neutral
Price Target:
₹417.00
▼(-21.65% Downside)
Action:Reiterated
Date:05/14/26
The score is held back primarily by weak cash generation and margin compression despite strong FY2026 revenue growth, plus a demanding valuation (high P/E with low yield). Technicals are modestly supportive in the near term, but longer-term trend signals remain bearish and do not offset the fundamental risks.
Positive Factors
Revenue Recovery
A sizeable FY2026 revenue rebound indicates improving project deliveries and/or sales traction across the portfolio. Sustained top-line momentum supports project cash inflows and demonstrates underlying demand in the company's micro-markets, improving visibility for near-term completions and collections.
Negative Factors
Negative Operating Cash Flow
Back-to-back negative operating and free cash flows materially weaken funding flexibility. Persistent cash shortfalls increase reliance on external debt or equity to complete projects, raising execution and refinancing risk over the medium term, especially if collections or sales slow.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Recovery
A sizeable FY2026 revenue rebound indicates improving project deliveries and/or sales traction across the portfolio. Sustained top-line momentum supports project cash inflows and demonstrates underlying demand in the company's micro-markets, improving visibility for near-term completions and collections.
Read all positive factors
Keystone Realtors Ltd. (RUSTOMJEE) vs. iShares MSCI India ETF (INDA)
Market Cap
₹49.83B
Dividend Yield0.28%
Average Volume (3M)3.18K
Price to Earnings (P/E)59.9
Beta (1Y)0.92
Revenue Growth31.46%
EPS Growth-54.59%
CountryIN
Employees759
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)8.17
Shares Outstanding126,237,114
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
Keystone Realtors Limited operates as a real estate development company in India. The company develops residential buildings, premium gated estates, townships, corporate parks, retail spaces, schools, iconic landmarks, and other real estate projec...
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 | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 18.21B | 26.35B | 20.04B | 22.22B | 6.86B | 12.69B |
| Gross Profit | 4.92B | 3.70B | 5.58B | 3.59B | 2.48B | 2.74B |
| EBITDA | 1.71B | 1.27B | 2.20B | 1.92B | 1.43B | 2.13B |
| Net Income | 1.03B | 788.60M | 1.72B | 1.12B | 819.50M | 1.40B |
Balance Sheet | ||||||
| Total Assets | 69.99B | 67.23B | 66.49B | 59.72B | 45.15B | 38.77B |
| Cash, Cash Equivalents and Short-Term Investments | 13.62B | 8.86B | 7.99B | 3.09B | 3.83B | 2.06B |
| Total Debt | 12.19B | 14.84B | 9.30B | 11.01B | 10.30B | 15.63B |
| Total Liabilities | 41.88B | 38.28B | 38.65B | 41.77B | 28.28B | 29.14B |
| Stockholders Equity | 27.94B | 28.63B | 27.72B | 17.98B | 16.69B | 9.33B |
Cash Flow | ||||||
| Free Cash Flow | -2.12B | -4.65B | -306.90M | 1.79B | 2.99B | -1.10B |
| Operating Cash Flow | -1.95B | -4.56B | -113.90M | 1.83B | 3.06B | -1.10B |
| Investing Cash Flow | -2.92B | -1.86B | -649.10M | -2.78B | 266.60M | -1.38B |
| Financing Cash Flow | 2.78B | 4.73B | 4.84B | -383.00M | -301.90M | 1.54B |
Keystone Realtors Ltd. Technical Analysis
Negative
532.25
Price Trends
396.31
Negative
442.16
Negative
514.14
Negative
Market Momentum
0.76
Positive
43.67
Neutral
14.81
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:RUSTOMJEE, the sentiment is Negative. The current price of 532.25 is above the 20-day moving average (MA) of 404.16, above the 50-day MA of 396.31, and above the 200-day MA of 514.14, indicating a bearish trend. The MACD of 0.76 indicates Positive momentum. The RSI at 43.67 is Neutral, neither overbought nor oversold. The STOCH value of 14.81 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:RUSTOMJEE.
Keystone Realtors Ltd. Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
63 Neutral | ₹58.73B | 31.13 | ― | 0.63% | -32.22% | -23.11% | |
57 Neutral | ₹42.84B | 15.74 | ― | 0.36% | 29.46% | 35.84% | |
57 Neutral | ₹66.16B | -1,536.76 | ― | ― | 43.90% | 58.31% | |
52 Neutral | ₹49.83B | 59.86 | ― | 0.28% | 31.46% | -54.59% | |
52 Neutral | ₹52.58B | 23.64 | ― | ― | 83.76% | ― | |
51 Neutral | ₹69.78B | 16.64 | ― | 0.70% | 216.52% | 290.61% |
* Real Estate Sector Average
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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...
Rustomjee Signs Rs 4,521-Crore GTB Nagar Redevelopment Deal with MHADA
Mar 6, 2026
Keystone Realtors, through its wholly owned subsidiary Keymidtown Developers, has signed a Development Agreement with GTB Nagar societies and MHADA, along with a separate Construction and Development Agreement with MHADA, to redevelop GTB Nagar in...
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.