Keystone Realtors Ltd reported a sharp 84.91% decline in its consolidated net profit to ₹9.89 crore for the quarter ended September 30, 2025 (Q2 FY26), compared to ₹65.55 crore in the same period last year, according to its recent regulatory filing.
The company’s total consolidated income stood at ₹520.92 crore, marking a 6.35% drop from ₹556.22 crore in Q2 FY25. The decline in profit was attributed to slower revenue recognition and higher costs during the quarter.
Despite the dip in quarterly profit, Keystone Realtors, which operates under the brand Rustomjee, recorded a notable improvement in sales performance. The company achieved pre-sales of ₹772 crore in Q2 FY26, up by 10% year-on-year. For the first half of FY26, pre-sales touched ₹1,839 crore, reflecting a strong 40% growth compared to H1 FY25.
During the same period, Keystone launched four new projects with a combined Gross Development Value (GDV) of ₹4,916 crore. The company also added three additional projects, including two cluster redevelopment schemes, taking the total added GDV to ₹7,727 crore. This milestone helped Keystone surpass its full-year launch guidance within just six months of FY26.
As of September 30, 2025, the company reported a net worth of ₹2,794.33 crore and maintained a debt-to-equity ratio of 0.43. Other key metrics included a current liability ratio of 0.83, total debt-to-asset ratio of 0.17%, an operating margin of 12%, and net profit margin of 2%.
While the sharp fall in profit highlights short-term challenges, the steady growth in sales, new project additions, and balanced leverage indicate Keystone Realtors’ focus on strengthening its business fundamentals amid a cautious real estate market.
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