Keystone Realtors Ltd
Keystone Realtors Q3 FY25 earnings call: Revenue & Margins
Q3 FY25 earnings call: what management guided on revenue, margins and order book.
The short version
Keystone Realtors has demonstrated strong pre-sales growth, achieving Rs. Keystone Realtors has demonstrated strong growth with a 53% increase in pre-sales for the first nine months of FY25, reaching ₹2,174 crores.
From Keystone Realtors Ltd's Q3 FY25 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Keystone Realtors has demonstrated strong pre-sales growth, achieving Rs. 2,174 crores in the first nine months of FY25, a 53% YoY increase.
- The company aims to surpass the full-year launch guidance of Rs. 6,000 crores with 8 project launches planned for FY25.
- Launch pipeline remains robust with 3 additional launches expected in Q4 FY25.
- Future growth driven by expansion in premium, aspirational, mid-mass, and affordable segments with a balanced portfolio:
- Approx. 40% premium/super-premium
- 40%-45% mid-mass and aspirational
- 10%-15% affordable segment
- Growth focus on new and emerging micro markets such as Mahim-Matunga, Chembur, eastern suburbs, and Navi Mumbai.
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Profitability & Margins
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Capital Expenditure Plans
- During the nine months of FY25, Keystone Realtors invested ₹396 crores in new projects, which is 1.5x higher than the same period last year, positioning for a strong project pipeline ready to launch.
- The company plans to continue adding projects, focusing on the mid-mass and aspirational segments, with 73% of acquisitions over the last 2 years and nine months in these categories.
- Upcoming launches for FY25 include 3 projects in Q4 totaling around ₹6,000 crores GDV, aiming to surpass guidance.
- Keystone is committed to asset-light models, especially focusing on redevelopment opportunities rather than land acquisition, except for select future upcoming areas.
- The company is exploring new markets like Mahim-Matunga, eastern waterways near Navi Mumbai airport, Chembur, Dombivli, and Virar for future growth.
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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
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Order Book & Pipeline
- As of Q3 FY25, Keystone Realtors (Rustomjee) has a strong launch pipeline.
- Total forthcoming project pipeline stands at approximately Rs. 41,000 crores.
- About Rs. 20,000 crores of this pipeline is township projects focused on mid-mass and affordable segments (Thane, Dombivli, Virar).
- The remaining Rs. 20,000 crores pipeline covers non-township projects.
- Aspirational segment forms about Rs. 4,500 crores (approx. 25% of total pipeline).
- The model mix targets roughly 40% premium and super-premium, 40-45% mid-mass and aspirational, and 10-15% affordable.
- In FY25, they have already launched projects totaling Rs. 4,057 crores and plan 3 more launches in Q4 to exceed Rs. 6,000 crores guidance.
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Keystone Realtors Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹1.6K Cr, net profit ₹64 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Keystone Realtors Ltd's management said in earlier quarters
- Q2 FY26 earnings call analysis →
- Q1 FY27 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q1 FY26 earnings call analysis →
- Q4 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
- Q4 FY23 earnings call →
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Frequently Asked Questions
What were Keystone Realtors Ltd Q3 FY25 results?
Keystone Realtors has demonstrated strong pre-sales growth, achieving Rs. Keystone Realtors has demonstrated strong growth with a 53% increase in pre-sales for the first nine months of FY25, reaching ₹2,174 crores.
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?
During the nine months of FY25, Keystone Realtors invested ₹396 crores in new projects, which is 1.5x higher than the same period last year, positioning for a strong project pipeline ready to launch.
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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.