Keystone Realtors Q1 FY26 earnings call: Revenue & Margins
Q1 FY26 earnings call: what management said on revenue, margins and capex.
- Revenue
- ₹273Cr
- −35.3% YoY
- −53.3% QoQ
- Net profit
- ₹16Cr
- −38.5% YoY
- −76.1% QoQ
- Margin
- 4.3%
- −5.7 pp YoY
- −3.7 pp QoQ
Guidance rank: #26 of 43 in Realty
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The short version
Keystone Realtors reported record Q1 FY '26 presales of INR 1,068 crores, a 75% YoY growth, and launches worth INR 3,967 crores, doubling last year's same period. Keystone Realtors achieved record Q1 FY '26 performance with highest ever quarterly presales of INR 1,068 crores (75% YoY growth) and launches of INR 3,967 crores (twice last year).
From Keystone Realtors Ltd's Q1 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Keystone Realtors reported record Q1 FY '26 presales of INR 1,068 crores, a 75% YoY growth, and launches worth INR 3,967 crores, doubling last year's same period.
- They expect to lock in about 40% of sales within the first 6-8 months of a project's launch, with strong upcoming Mid/Mass segment launches priced between INR 1 crore to INR 3 crore.
- Business development (BD) is on a strong path: Q1 FY '26 BD of INR 7,727 crores already exceeds full-year guidance by 1.25x, indicating robust future pipeline.
- Focus on cluster redevelopment projects in high-demand Mumbai micro-markets like Sion and Lokhandwala supports future volume growth.
2 more points from Keystone Realtors Ltd's call on revenue
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Profitability & Margins
Keystone Realtors achieved record Q1 FY '26 performance with highest ever quarterly presales of INR 1,068…
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Capital Expenditure Plans
- Keystone Realtors continues to focus on large-scale cluster redevelopment projects, including Lokhandwala Cluster, GTB Nagar, Dindoshi Cluster, and Malad West Cluster, positioning itself as Mumbai's largest redevelopment company.
- The company plans capital deployment of around INR 800 crores in the current year, driven by strong business development and project launches.
- Business development efforts have been robust with three strategic redevelopment projects added in Q1 FY '26 with a GDV of INR 7,727 crores, surpassing full-year guidance by 1.25x.
- Financial position is strong with INR 714 crores in free cash and zero net debt, supported by reduced borrowing costs and strong financial partners.
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Top-ranked in Realty
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
Keystone Realtors currently has free cash availability of INR 700+ crores and a very strong financial backing.
Locked: what Keystone Realtors Ltd said on fundraising
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Order Book & Pipeline
- Keystone Realtors reported a strong order book with project launches worth INR 3,967 crores in Q1 FY '26, twice the launch value from the same period last year.
- Business Development (BD) added three projects in Q1 with a combined GDV of INR 7,727 crores, exceeding the entire FY '26 BD guidance by over 1.25 times.
- Since FY '23, 25 projects were added with an estimated GDV of INR 25,490 crores, of which 21 are redevelopment projects, primarily targeting Mid/Mass and Aspirational segments.
- Upcoming launches are expected within 13-15 months post-DA signing, with cluster redevelopment projects in markets like Lokhandwala, Sion, and Dindoshi.
2 more points from Keystone Realtors Ltd's call on order book
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Keystone Realtors Ltd — Quarterly revenue & net profit
Keystone Realtors Ltd Q1 FY26 results — key figures
| ₹ Cr | Q1 FY26 | Q1 FY25 | YoY | Q4 FY25 | QoQ |
|---|---|---|---|---|---|
| Revenue | 273 | 422 | -35.3% | 585 | -53.3% |
| Operating profit (EBITDA) | 12 | 41 | -70.7% | 48 | -75% |
| Operating margin | 4.3% | 10% | -5.7 pp | 8% | -3.7 pp |
| Profit before tax | 16 | 37 | -56.8% | 87 | -81.6% |
| Net profit (PAT) | 16 | 26 | -38.5% | 67 | -76.1% |
| EPS (₹) | 1.15 | 2.05 | -43.9% | 5.14 | -77.6% |
Source: reported quarterly figures (Screener), ₹ crore.
Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹497 Cr, net profit ₹101 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Keystone Realtor's management said in earlier quarters
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were Keystone Realtors Ltd Q1 FY26 results?
Keystone Realtors reported record Q1 FY '26 presales of INR 1,068 crores, a 75% YoY growth, and launches worth INR 3,967 crores, doubling last year's same period. Keystone Realtors achieved record Q1 FY '26 performance with highest ever quarterly presales of INR 1,068 crores (75% YoY growth) and launches of INR 3,967 crores (twice last year).
What is Keystone Realtors Ltd share price analysis?
Keystone Realtors Ltd currently shows a neutral. The stock trades at a P/E of 41.7 with a market cap of ₹4,902 Cr. Investors should review the full earnings analysis for detailed insights.
Is Keystone Realtors Ltd planning capital expenditure?
Keystone Realtors continues to focus on large-scale cluster redevelopment projects, including Lokhandwala Cluster, GTB Nagar, Dindoshi Cluster, and Malad West Cluster, positioning itself as Mumbai's largest redevelopment company.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.