Keystone Realtors Reports 44% Q1 Profit Drop, but Pre-Sales Surge
Keystone Realtors, the real estate developer behind the Rustomjee brand, reported a 44% decline in net profit for the June quarter. However, the company achieved its best-ever pre-sales performance, marking a 75% increase over the previous year.
Keystone RealtorsReal EstateQ1 ResultsPresalesProject Completion MethodReal Estate NewsAug 06, 2025
Despite these muted headline figures, the company’s operational performance remained strong. Pre-sales for the quarter surged to a record ₹1,068 crore, marking a 75% increase over the year-ago period. Boman Irani, Chairman and Managing Director of Keystone Realtors, emphasized that the company began FY26 on a strong note, driven by healthy demand trends and the successful launch of new projects.
Irani noted that the drop in revenue does not accurately reflect the underlying business momentum, as the company continues to follow the project completion method of accounting. To better align revenue with actual project progress, Keystone Realtors plans to shift to the percentage of completion method for its new launches going forward. This change is expected to provide a more accurate view of the company’s performance in future quarters.
“We remain well-capitalized and our balance sheet is healthy,” Irani stated, adding that Keystone is well-positioned to capitalize on growth opportunities in the coming quarters. The Mumbai-based developer has been expanding its footprint across the Mumbai Metropolitan Region (MMR). To date, it has delivered 26 million square feet of real estate across 37 completed projects. Currently, the company has 18 projects under execution and a future development pipeline exceeding 47 million square feet.
This strategic approach and robust project pipeline demonstrate Keystone Realtors’ commitment to sustainable growth and meeting the increasing demand for quality real estate in key markets. The company’s focus on innovation and customer satisfaction continues to drive its success, making it a leading player in the Indian real estate sector.
Frequently Asked Questions
What was the net profit of Keystone Realtors in Q1FY26?
Keystone Realtors reported a net profit of ₹14.51 crore in Q1FY26.
How much did the company's pre-sales increase in Q1FY26?
The company's pre-sales surged to a record ₹1,068 crore, marking a 75% increase over the previous year.
What method of accounting does Keystone Realtors currently use?
Keystone Realtors currently uses the project completion method of accounting.
What change in accounting method is Keystone Realtors planning to implement?
Keystone Realtors plans to shift to the percentage of completion method for its new launches going forward.
How many projects has Keystone Realtors delivered so far?
Keystone Realtors has delivered 26 million square feet of real estate across 37 completed projects.
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