Keystone Realtors Limited submitted a regulatory disclosure to BSE Limited and National Stock Exchange of India Limited containing Key Operational Updates for Q1FY27 (April-June 2026).

Operational Performance Metrics (QoQ Comparison)

  • Area: 0.32 million square feet in Q1FY27 vs 0.63 million square feet in Q1FY26 (-49% growth)
  • Pre-Sales: ₹6.17 billion in Q1FY27 vs ₹10.68 billion in Q1FY26 (-42% growth)
  • Collections: ₹5.99 billion in Q1FY27 vs ₹5.75 billion in Q1FY26 (+4% growth)

Detailed Operational Updates

Pre-Sales Performance: The company achieved pre-sales of ₹6.17 billion in Q1FY27, significantly lower than the ₹10.68 billion recorded in Q1FY26. This decline was attributed to the absence of new launches during the quarter, with pre-sales being primarily supported by resilient sustenance sales. The company noted continued buyer interest and sustained homebuyer confidence in its projects despite the decline.

Collections Performance: Collections improved to ₹5.99 billion in Q1FY27 from ₹5.75 billion in Q1FY26, representing a 4% increase. These healthy collections originated from previously sold units and sustenance sales across ongoing projects, contributing to robust cash flows and strengthening the company's liquidity position.

New Launches Pipeline: The company disclosed a strong launch pipeline planned across the Mumbai Metropolitan Region (MMR) over the coming quarters. These planned launches are expected to enhance the company's market position and drive sustainable growth while creating value for customers and stakeholders.

Business Development: During Q1FY27, the company added 2 new projects with a total saleable area of 1.98 million square feet and an estimated Gross Development Value (GDV) of ₹7.13 billion. The specific projects are:

  • "Utkarsh CHSL" at Dindoshi Nagar Cluster, Goregaon East
  • "Plotted Development" at Igatpuri

These additions reinforce the company's leadership in cluster redevelopment (described as a key scale multiplier) while expanding its presence in the plotted development segment (described as a velocity multiplier), supporting long-term growth objectives.

Completions: The company completed 1 project in Q1FY27 with a construction area of 0.07 million square feet. The completed project is "Rustomjee Ashiana" at Juhu.

Credit Rating Update: ICRA upgraded the company's credit rating from "A+ (With Stable Outlook)" to "AA- (with Stable Outlook)". This matches the existing CRISIL credit rating of "AA- (with Stable Outlook)".

Management Commentary

Mr. Boman Irani, Chairman and Managing Director of Keystone Realtors Limited, commented on the Q1FY27 performance:

He described Q1FY27 as "a steady start to the year as we build on the strong momentum achieved in FY26" and noted that pre-sales of ₹6.17 billion were supported by resilient sustenance sales and continued homebuyer confidence.

Looking ahead, he emphasized the robust pipeline of launches planned across MMR over coming quarters, which are expected to strengthen market position and support achievement of the pre-sales guidance for FY27.

He highlighted the company's execution capabilities, disciplined project delivery, and favorable market fundamentals as positioning factors for sustainable growth. On business development, he noted the two projects added during the quarter with estimated GDV of ₹7.13 billion that strengthen the future launch pipeline.

He concluded that supported by "a strong balance sheet and a healthy liquidity position," the company remains "well capitalized to pursue growth opportunities, execute our development pipeline efficiently, and create long-term value for our customers, shareholders, and all stakeholders."

Important Notes

The disclosure notes that all numbers are provisional and subject to audit. The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.