Keystone Realtors Ltd
Keystone Realtors Q3 FY26 earnings call: Revenue & Margins
Q3 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Keystone Realtors expects a 25% year-on-year growth in presales for FY '27 compared to FY '26. Keystone Realtors expects a 25% year-on-year growth trajectory continuing into FY '27, supported by strong presales and a healthy launch pipeline.
From Keystone Realtors Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Keystone Realtors expects a 25% year-on-year growth in presales for FY '27 compared to FY '26.
- FY '26 presales guidance of INR 4,000 crores is on track to be achieved.
- The company plans phased launches, spreading out projects (e.g., INR 8,000 crores launched in parts over 12-15 months).
- New project launches in FY '26 total INR 5,835 crores with more expected in Q4 FY '26.
- Demand remains strong in chosen projects, supporting continued revenue growth.
- Collections and operating cash flows are expected to improve, with efficient collections targeting 75-80% of presales starting FY '27.
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Profitability & Margins
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Capital Expenditure Plans
- Business development (BD) expenditure in FY '26 was about INR 650 crores.
- For FY '27, BD deployment is projected to grow by around 25%, estimated between INR 850 crores to INR 1,000 crores.
- The company plans to control investments in BD, aiming to reduce BD spend progressively while increasing inventory for sale.
- Capex funding for FY '27 is expected to come from a combination of debt (approximately 40%) and internal accruals.
- The company maintains a reasonable debt-equity ratio, with significant headroom to raise debt for capex.
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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
- Keystone Realtors has a significant orderbook in terms of projects launched and pipeline.
- By the end of FY '25, the company had launched INR 7,000 to 8,000 crores worth of projects.
- Additionally, there is still pending launch inventory worth around INR 10,000 crores, which the management expects to launch in phases over FY '27 and FY '28.
- The launch pipeline for FY '26 includes 5 projects with a total GDV of INR 5,835 crores (83% of the full-year launch target).
- The company aims for phased launches with turnaround of about 12 months from Development Agreement (DA) to project launch.
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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 →
- Q1 FY26 earnings call analysis →
- Q3 FY25 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 FY26 results?
Keystone Realtors expects a 25% year-on-year growth in presales for FY '27 compared to FY '26. Keystone Realtors expects a 25% year-on-year growth trajectory continuing into FY '27, supported by strong presales and a healthy launch pipeline.
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?
Business development (BD) expenditure in FY '26 was about INR 650 crores.
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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.