Keystone Realtors Q1FY27 Pre-Sales Fall 42% YoY to INR 6.17 bn; Collections Rise 4%
Keystone Realtors reported a 42% YoY decline in Q1FY27 pre-sales to INR 6.17 bn due to absence of new launches, while collections rose 4% YoY to INR 5.99 bn. The company added two new projects with a combined saleable area of 1.98 mn sq ft and GDV of INR 7.13 bn, and received a credit rating upgrade from ICRA to AA- with Stable Outlook.
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Keystone Realtors reported pre-sales of INR 6.17 bn in Q1FY27, a 42% decline from INR 10.68 bn in the corresponding period of the previous year. The decrease was attributed to the absence of new launches during the quarter, with sales primarily driven by sustenance sales. Despite the drop, the company noted continued buyer interest and expects a pickup in sales in upcoming quarters given the improving economic situation and geopolitical stability.
Collections for Q1FY27 stood at INR 5.99 bn, a 4% increase compared to INR 5.75 bn in Q1FY26. The company stated that healthy collections from previously sold units and sustenance sales across ongoing projects strengthened its liquidity position. The area sold during the quarter was 0.32 mn sq ft, down 49% year-on-year from 0.63 mn sq ft.
Operational Performance
The following table details the operational performance for the quarter ended June 30, 2026:
| Metric | Q1FY27 | Q1FY26 | YoY Growth (%) | Q4FY26 |
|---|---|---|---|---|
| Area (In Mn Sqft) | 0.32 | 0.63 | -49% | 0.53 |
| Pre-Sales (In INR bn) | 6.17 | 10.68 | -42% | 13.46 |
| Collection (In INR bn) | 5.99 | 5.75 | 4% | 8.53 |
Business Development and Ratings
Keystone Realtors added two projects in Q1FY27, comprising a saleable area of 1.98 mn sq ft with an estimated Gross Development Value (GDV) of INR 7.13 bn. The projects include "Utkarsh CHSL" at Dindoshi Nagar Cluster, Goregaon East, and a "Plotted Development" at Igatpuri. These additions reinforce the company's leadership in cluster redevelopment and expand its presence in the plotted development segment.
On the credit front, ICRA upgraded the company's rating from "A+ (With Stable Outlook)" to "AA - (with Stable Outlook)". Additionally, CRISIL maintained its credit rating of "AA- (with Stable Outlook)". The company completed one project, "Rustomjee Ashiana" at Juhu, with a construction area of 0.07 mn sq ft during the quarter.
Mr. Boman Irani, CMD of Keystone Realtors Limited, stated that the company has a robust pipeline of launches planned across the Mumbai Metropolitan Region (MMR) to strengthen its market position. He emphasized that the firm remains well capitalised to pursue growth opportunities and execute its development pipeline efficiently.
Historical Stock Returns for Keystone Realtors
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.17% | -2.12% | +4.82% | -15.19% | -36.53% | -24.58% |
What is the expected timeline and revenue impact of the new project launches planned for the Mumbai Metropolitan Region?
How will the recent credit rating upgrades influence the company's cost of capital and future expansion strategies?
What specific economic indicators and geopolitical factors are driving the company's optimistic sales outlook for the upcoming quarters?
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