RUSTOMJEEKeystone Realtors Ltd
Keystone Realtors Q2 FY27 Results: Consolidated Net Profit ₹101 Crore on Total Income of ₹513 Crore
- Earnings
- Real estate
Reviewed byRachit TripathiBlacklitt Research
Keystone Realtors (NSE: RUSTOMJEE) reported consolidated total income of ₹513.09 crore and a net profit of ₹100.75 crore for the quarter ended 30 Sep 2026. Standalone total income was ₹148.99 crore and the standalone result was a net loss of ₹9.82 crore, it said in a filing on 04 Nov 2026.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹513.09 crore, down 1.5% YoY and up 19.3% QoQ
- Net profit and EPS: Profit for the period ₹100.75 crore; basic EPS ₹7.92, not annualised
- Finance costs: ₹31.81 crore, up 102.4% YoY from ₹15.72 crore
Standalone
The company on its own, without its subsidiaries
- Total income: ₹148.99 crore, down 62.0% YoY and up 18.3% QoQ
- Net loss and EPS: Loss for the period ₹9.82 crore; basic EPS -₹0.78
- Tax expense: ₹13.27 crore, against a pre-tax loss of ₹13.09 crore
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 513 | 521 | -1.5% | 430 | +19.3% | |
| Revenue from operations | 497 | 499 | -0.5% | 470 | +5.6% |
| Other income | 16 | 22 | -24.1% | 23 | -28.6% |
| 101 | 10 | +918.7% | 52 | +92.4% | |
| Profit before tax | 110 | 17 | +550.1% | 70 | +56.2% |
| Finance costs | 32 | 16 | +102.4% | 31 | +4.1% |
| Depreciation | 6 | 4 | +46.6% | 5 | +8.7% |
| Tax expense | 9 | 7 | +29.4% | 18 | -49.5% |
| Net profit margin | 19.64% | 1.90% | +17.74 pp | 12.17% | +7.46 pp |
| EPS, basic (₹) | 7.92 | 0.68 | n/a | 4.21 | +88.1% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Net profit grew far faster than income. Total income of ₹513.09 crore was 1.5% lower than a year earlier, while profit for the period rose from ₹9.89 crore to ₹100.75 crore, and attributable profit to owners of the parent rose from ₹8.55 crore to ₹100.02 crore.
The share of profit from associates and joint ventures of ₹73.24 crore is equal to 72.7% of the consolidated profit for the period. The year-ago quarter had a loss of ₹43 lakh on this line, and the filing does not give the reason for the rise.
Finance costs of ₹31.81 crore are about double the ₹15.72 crore of a year earlier. Revenue from operations of ₹496.69 crore was 0.5% lower than a year earlier, and other income of ₹16.40 crore fell 24.1%.
Walker Chandiok & Co LLP issued an unmodified limited review conclusion on the consolidated results. Its statement says that 16 subsidiaries and one jointly controlled operation were reviewed by other auditors.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 149 | 392 | -62.0% | 126 | +18.3% | |
| Revenue from operations | 103 | 335 | -69.2% | 89 | +16.1% |
| Other income | 46 | 58 | -20.5% | 37 | +23.7% |
| -10 | 22 | n/a | 7 | n/a | |
| Profit before tax | -13 | 30 | n/a | 9 | n/a |
| Finance costs | 12 | 7 | +83.9% | 12 | 0.0% |
| Depreciation | 5 | 3 | +36.3% | 4 | +6.3% |
| Tax expense | 13 | 8 | +72.3% | 3 | +365.6% |
| Net profit margin | -6.59% | 5.64% | -12.24 pp | 5.24% | -11.83 pp |
| EPS, basic (₹) | -0.78 | 1.76 | n/a | 0.52 | n/a |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
The standalone company moved from a profit of ₹6.60 crore in the previous quarter to a loss of ₹9.82 crore. Revenue from operations was ₹103.20 crore, against ₹334.64 crore a year earlier, and other income of ₹45.79 crore made up a larger part of total income than revenue did.
The statement shows a tax expense of ₹13.27 crore on a pre-tax loss of ₹13.09 crore. The filing gives no reason for the standalone loss or for this tax charge.
Inference
The filing states that the company's non-convertible debentures are fully secured and listed on BSE Limited, and that ₹335 crore was raised through a private placement on 29 Sep 2025, with the full amount utilised and no deviation reported. In the six months to 30 Sep 2026 the holding company allotted 86,801 equity shares on exercise of options under its employee stock option plan.
The filing does not say why the standalone result moved to a loss, why profit from associates and joint ventures rose, or whether any dividend has been declared.
Filed with BSE on . Reference: Original filing (PDF)
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