Keystone Realtors, known for the Rustomjee brand, reported a 10-fold surge in consolidated net profit to Rs 101 crore for Q2 FY27, largely driven by income from joint ventures. Pre-sales hit a record Rs 1,423 crore, marking an 84% year-on-year increase. Despite the strong operational growth, total income saw a slight decline to Rs 513 crore.
Keystone Realtors, which operates under the Rustomjee brand, has reported a significant performance boost for the second quarter of the 2026-27 financial year. The company’s consolidated net profit surged to Rs 100.75 crore, a 10-fold increase compared to the Rs 9.89 crore reported in the same quarter last year. This sharp rise in profitability was primarily supported by a Rs 73.24 crore contribution from its share of profits in associates and joint ventures.
While the bottom line saw a substantial jump, the company's total income for the quarter stood at Rs 513.09 crore, showing a slight decline from the Rs 520.90 crore recorded in the corresponding period of the previous year. On the operational front, Keystone Realtors achieved record-breaking quarterly pre-sales of Rs 1,423 crore, an 84% increase year-on-year, reflecting sustained demand for its luxury and premium housing projects in the Mumbai Metropolitan Region. The company also saw sales in area terms rise by 31% to 0.65 million square feet during the quarter.
Management has emphasized that the performance highlights the company's focus on disciplined execution and its strategic expansion within the redevelopment space. During the first half of FY27, the company reached a total pre-sales figure of Rs 2,041 crore. The developer maintains a robust project pipeline, with 19 ongoing and 19 forthcoming projects, aiming to leverage its brand presence in Mumbai’s competitive real estate market.
Investors should note that while pre-sales were strong, cash collections for the quarter declined compared to the previous year, which is a key metric for liquidity in the capital-intensive real estate sector. Additionally, the company's financial performance continues to be influenced by project-specific profit-sharing arrangements. Ongoing legal proceedings related to the Rustomjee Crown project remain sub judice, which could have potential, though currently unascertainable, financial implications. As the company scales its redevelopment portfolio, tracking future project approvals, raw material cost trends, and the speed of collections will be essential for monitoring sustained operational health and cash flow.