Keystone Realtors Q2 FY26: revenue falls, margins under pressure

Revenue declinedEBITDA margin compressionNegative operating cash flowResults View source PDF Explain this filing

RUSTOMJEE · price

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Price reactionminutes from the announcement price · days from the prior close

+0.3%Reaction day

₹533.20

prior close

₹520.70

announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.9%-0.6% vs market

Residential Commercial Projects peers, median of 59sector-0.4%+0.7% vs sector

On the reaction day the stock moved 0.6 pts less than Nifty Microcap 250 and 0.7 pts more than its Residential Commercial Projects peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Keystone Realtors (Rustomjee) reported Q2 FY26 consolidated revenue from operations of about Rs 499 crore versus Rs 533 crore YoY. H1 FY26 revenue fell to Rs 772 crore from Rs 955 crore, and H1 profit after tax dropped to Rs 26 crore from Rs 91 crore. Operating margin compressed to 12 percent from 24.2 percent YoY. Operating cash flow turned negative at about Rs 103 crore in H1 versus positive Rs 95 crore last year. The company allotted NCDs worth Rs 333 crore during the quarter. Price Waterhouse issued an unmodified review opinion.

Likely market impact

Sharp drop in H1 profit, weaker margins and negative operating cash flow may weigh on the stock in the near term.