Shares of Keystone Realtors, which operates under the Rustomjee brand, jumped over 3% in Thursday's trade after the real estate developer reported its highest-ever quarterly pre-sales for the second quarter of fiscal 2027.
The stock was trading at Rs 385 apiece on the NSE at around 12 p.m., gaining around 1.5% from its previous close at Rs 379.3. Earlier in the session, the stock jumped to a high of Rs 393.9, gaining close to 4% from the previous close.
The company recorded pre-sales of Rs 14.23 billion in the second quarter, up 84% from Rs 7.72 billion in the year-ago period. Pre-sales were also significantly higher than Rs 6.17 billion recorded in the first quarter of fiscal 2027.
H1 Pre-Sales Hit Record High
For the first half of fiscal 2027, Keystone Realtors reported pre-sales of Rs 20.41 billion, an 11% increase from Rs 18.39 billion in the corresponding period last year.
The company said it achieved 41% of its full-year fiscal 2027 pre-sales guidance in the first half.
“Achieved 41% of full-year FY27 Pre-Sales guidance in the first half of the financial year. The performance was led by strong momentum from our Luxury and Super Premium projects, ” the company stated in the exchange filing.
Though pre-sales rose significantly, collections declined during the quarter. The same stood at Rs 5.41 billion in the second quarter, compared with Rs 6.69 billion a year earlier. For the first half, collections stood at Rs 11.41 billion, against Rs 12.45 billion collected during the corresponding period a year ago.
New Projects Add Rs 21.96 Billion GDV
The company also intimated that it has launched Rustomjee Ozone Skye in Malad West and commenced construction of its commercial project 25HQ in Prabhadevi during the quarter ended on Sept. 30, 2026. The two projects added a combined saleable area of 0.54 million sq. ft., with an estimated gross development value of Rs 21.96 billion.
Furthermore, the company added two more projects in the first half of the fiscal year, with a saleable area of 1.41 million sq. ft. and an estimated GDV of Rs 5.47 billion. These include Utkarsh CHSL at Dindoshi Nagar Cluster in Goregaon East and a plotted development project at Igatpuri.
As per the filing, Keystone Realtors also completed three RERA projects during the quarter, with a total construction area of 1.32 million sq. ft. The projects were completed six to 12 months ahead of their RERA timelines.
Keystone Realtors Share Price Performance
The realtor stock has been in focus over the past week, as it has gained over 5% during the period. However, the stock remained subdued over the past year, losing more than 38.8% during the period.
Investors will now track whether Keystone Realtors can sustain the strong pre-sales momentum in the coming quarters, particularly across its luxury and super-premium projects. They will also watch collections and the company's upcoming project launches as key indicators of execution and growth.
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