Investor Presentation
RUSTOMJEE · price
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Keystone Realtors (RUSTOMJEE) reported FY26 pre-sales of Rs 40.22 billion, achieving 33% YoY growth and meeting 100% of its annual guidance. Q4FY26 marked the highest ever quarterly pre-sales at Rs 13.46 billion with 58% YoY growth. Collections stood at Rs 26.22 billion for FY26. The company exceeded all guidance metrics: launches achieved Rs 98.1 billion GDV (140% of guidance) and project additions reached Rs 104.2 billion GDV (174% of guidance). FY27 guidance sets pre-sales target at Rs 50 billion, launches at Rs 80 billion GDV, and project additions at Rs 80 billion GDV. The company is net cash positive with gross debt/equity at 0.26:1, significantly better than the less than 0.75:1 target. FY26 EBITDA margin was 7.5% but management indicated margin expansion expected going forward as legacy project overhang clears.
Strong execution with all parameters exceeding guidance demonstrates operational strength. Net cash position and zero net debt reduce financial risk. The company targets Rs 10,000 crore pre-sales by FY30 representing ~26% CAGR, supported by robust pipeline of Rs 427 billion in forthcoming projects.