Keystone Realtors Q1 Net Profit Drops 36% YoY to ₹16.3 Crore; Revenue Falls 35%

Mumbai, August 5, 2025 – Keystone Realtors Ltd (NSE: RUSTOMJEE, BSE: 543669) reported a consolidated net profit of ₹1,633 lakh for Q1FY26, marking a sharp 36.3% decline from ₹2,565 lakh in Q1FY25. The company’s revenue from operations dropped 35.3% YoY to ₹27,312 lakh, down from ₹42,216 lakh in the same quarter last year.

Consolidated Financial Performance (₹ in lakh)

• Revenue from operations stood at ₹27,312 lakh, down 35.3% YoY from ₹42,216 lakh and 53.3% QoQ from ₹58,485 lakh.
• Total income came in at ₹28,864 lakh, a decline of 34.0% YoY from ₹43,720 lakh and 55.0% QoQ from ₹64,220 lakh.
• Profit before tax dropped to ₹1,585 lakh, falling 57.5% YoY from ₹3,730 lakh and 81.7% QoQ from ₹8,662 lakh.
• Net profit stood at ₹1,633 lakh, down 36.3% YoY from ₹2,565 lakh and 75.6% QoQ from ₹6,695 lakh.
• Basic EPS declined to ₹1.15, compared to ₹2.16 in Q1FY25 (46.8% lower YoY) and ₹5.14 in Q4FY25 (77.6% lower QoQ).

Segment & Expense Commentary

• Construction Costs surged to ₹30,060 lakh, up 23.8% YoY, reflecting increased project activity.
• Employee Expenses also rose to ₹4,039 lakh (vs ₹2,831 lakh YoY).
• A notable inventory gain of ₹13,269 lakh was recorded due to changes in inventory valuation compared to a loss of ₹4,837 lakh in Q1FY25.
• Finance costs were contained at ₹716 lakh, a sharp drop from ₹1,678 lakh YoY.

Taxation & Profit Attribution

• The company recorded a net tax writeback of ₹48 lakh in Q1FY26, versus a tax expense of ₹1,165 lakh last year.
• Profit attributable to the owners stood at ₹1,451 lakh (down from ₹2,582 lakh), while non-controlling interest accounted for ₹182 lakh in profit.

Standalone Snapshot

 Standalone revenue from operations for Q1FY26 stood at ₹6,843 lakh, down 46.5% YoY from ₹12,798 lakh. Total income fell 28.7% YoY to ₹12,200 lakh from ₹17,116 lakh. Net profit dropped 42.0% YoY to ₹1,360 lakh from ₹2,345 lakh, while basic EPS declined 45.5% YoY to ₹1.08 from ₹1.98.

Management Remarks & Auditor Review

The Board of Directors, in a meeting held on August 5, 2025, approved the unaudited results. The statutory auditors, Price Waterhouse Chartered Accountants LLP, issued a limited review report with an unmodified opinion, confirming compliance with SEBI’s Listing Regulations.

Additional Disclosures

• Segment: The company continues to operate solely in the real estate development sector within India.
• Fund Utilization: The ₹78,272 lakh raised via QIP in May 2024 has been fully utilized as per its stated objectives.
• Tax: No significant tax liabilities were noted, and deferred tax benefits were booked during the quarter.
• Amalgamation: As per NCLT approval, Key Fortune Realtors Pvt Ltd was merged with the company effective April 1, 2024, and accounted under the ‘pooling of interest’ method.

Keystone Realtors Stock Performance

Keystone Realtors shares closed at ₹582, which is a 6.84% dip on August 5, 2025. Keystone Realtors shares have dipped 15% in the last month, 14% in the year-to-date, and 8.98% in the previous month.

The stock opened he session at ₹621.15 and moved within a broad range, touching an intraday high of ₹625.00 before slipping to a low of ₹580.80. It has a market capitalisation of ₹7,330 crore. Over the last 52 weeks, the stock has seen considerable movement, swinging between a low of ₹480.05 and a high of ₹801.05.

REF:https://nsearchives.nseindia.com/corporate/RUSTOMJEE_05082025144244_Outcome_of_Board_Meeting_Cover_Letter.pdf

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