RUSTOMJEEKeystone Realtors Ltd
Keystone Realtors gets Crisil AA-/Stable rating on ₹1,165 crore loans
- Credit rating
- Real estate
Reviewed byKeshav SehgalBlacklitt Research
Keystone Realtors (NSE: RUSTOMJEE) had Crisil Ratings assign a long-term rating of Crisil AA-/Stable to its total bank loan facilities of ₹1,165 crore, it said in a filing on 05 Nov 2026. The rating carries a stable outlook and is valid till 30 Jul 2027.
Key highlights
- Rated bank loan facilities: ₹1,165 crore
- Rating: Crisil AA-/Stable, stable outlook
- Largest rated component: proposed term loan of ₹655 crore, lender not named
- Rating letter valid till 30 Jul 2027
The rating in numbers
| Item | Detail |
|---|---|
| Rating agency | Crisil Ratings Limited |
| Rating assigned | Crisil AA-/Stable (long term, stable outlook) |
| Total bank loan facilities rated | ₹1,165 crore |
| Overdraft, Axis Bank Limited | ₹75 crore |
| Proposed term loan, lender not named | ₹655 crore |
| Term loan, Axis Bank Limited | ₹135 crore |
| Term loan, ICICI Bank Limited | ₹300 crore |
| Letter dated | 05 Nov 2026 |
| Rating valid till | 30 Jul 2027 |
What the rating covers
Crisil Ratings assigned Crisil AA-/Stable to Keystone Realtors' total bank loan facilities of ₹1,165 crore. Crisil AA-/Stable is a long-term rating with a stable outlook.
The rated facilities are an overdraft of ₹75 crore and a term loan of ₹135 crore from Axis Bank Limited, a term loan of ₹300 crore from ICICI Bank Limited, and a proposed term loan of ₹655 crore for which no bank is named. Together the four identified or proposed facilities make up the ₹1,165 crore total.
A rating under surveillance and time-limited
Crisil says all its ratings are kept under continuous surveillance and review, and that it may withdraw or revise the rating or outlook at any time on new information, unavailability of information, or other circumstances it believes may affect the rating.
The rating letter is valid till 30 Jul 2027. After that date the company must obtain a new rating letter dated later than 30 Jul 2027.
What the rating means for Keystone Realtors' shareholders
The filing reports a rating on bank borrowings of ₹1,165 crore, against a company market value of ₹4,548 crore at the 05 Nov 2026 close. The company's latest quarter, Q2 FY27, reported consolidated total income of ₹1,006.35 crore.
The filing does not give the reason for the rating, as the rationale is not among the enclosures. It does not say whether any of the facilities has been drawn, what the ₹655 crore proposed term loan's lender and timing are, or what the borrowings will fund. The next dated step is a new rating letter, due after 30 Jul 2027.
Filed with BSE on . Reference: Original filing (PDF)
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