Keystone Realtors says FY26 pre-sales guidance achieved but stock falls from highs

Shares of Keystone Realtors Ltd, which operates under the Rustomjee brand, traded lower on Monday, April 6, after the company reported its operational update for Q4FY26 and FY26.The developer reported strong pre-sales momentum, with Q4 pre-sales rising 53% YoY to ₹1,346 crore from ₹854 crore a year ago. For the full year, pre-sales stood at ₹4,022 crore, up 33% YoY, with the company meeting its FY26 guidance.

Collections hit a record high of ₹853 crore in Q4FY26, up 14% YoY, while FY26 collections grew 13% YoY to ₹2,621 crore, compared to ₹2,327 crore in FY25.
On the launches front, Keystone introduced two projects in Q4 with a saleable area of 0.69 million sq ft and an estimated GDV of ₹3,978 crore.For FY26, it launched seven projects with a total GDV of ₹9,813 crore, nearly doubling from ₹5,019 crore in FY25 and exceeding its launch guidance of ₹7,000 crore by achieving 140% of the target.

The company also strengthened its pipeline, adding five projects during the year with a combined GDV of ₹10,420 crore, marking a 118% YoY increase in business development.

CMD Boman Irani said FY26 was a strong year across key metrics, with the company surpassing guidance on pre-sales, launches, and business development.

He added that redevelopment opportunities in Mumbai remain a key focus area, and the company is well-positioned to capitalise on growth opportunities backed by a strong balance sheet.