Rustomjee Q4 results: Profit more than doubles to ₹65 cr, revenue falls 28%

Rustomjee's Q4 FY25 profit rose 111% Y-o-Y to ₹64.8 crore, even as revenue fell nearly 28%; the company met annual presales guidance and raised FY26 target

Mumbai-based Rustomjee (Keystone Realtors) reported a more than two-fold rise in profit (attributable to the owners of the parent) for the fourth quarter of the financial year 2025 (Q4 FY25) to ₹64.8 crore, compared to ₹30.7 crore in Q4 FY24.

 

However, the builder’s revenue from operations declined 27.93 per cent year-on-year (Y-o-Y) to ₹584.9 crore. Boman Irani, chairman and managing director, Keystone Realtors, clarified that the decline was due to the method of revenue recognition. “We are allowed to recognise revenues only after we receive the occupation certificates (OCs) of projects. The number of OCs that we have received has led to this decrease,” he said.

 

 

The company’s total expenses during the quarter also declined 29.3 per cent Y-o-Y, to ₹553.73 crore.

 

In Q4 FY25, the company added three projects with an estimated gross development value (GDV) of ₹1,487 crore. Its presales during the quarter stood at ₹854 crore, up 1 per cent Y-o-Y, while collections rose 11 per cent Y-o-Y to ₹746 crore.

 

The company’s earnings before interest, tax, depreciation and amortisation (Ebitda) in Q4 FY25 increased to ₹107 crore from ₹67 crore in the same period a year ago.

 

During FY25, the company added nine projects with an estimated GDV of ₹4,783 crore, surpassing its annual guidance of ₹4,000 crore. Presales during the year stood at ₹3,028 crore, achieving its FY25 guidance of ₹3,000 crore.

 

The company has guided presales of ₹4,000 crore for FY26, and Irani expressed confidence in achieving this with continued sales momentum.

 

In FY25, the company’s revenue stood at ₹2,004.1 crore, down 9.82 per cent Y-o-Y, while its profit grew 53.54 per cent to ₹171.96 crore, supported by project launches worth ₹5,019 crore during the year.

 

“The demand for our products remains robust, and we’re excited about the strong pipeline of upcoming launches for FY26. Our asset-light model, with a focus on redevelopment opportunities, particularly in Mumbai MMR, continues to be a key driver of growth. As the most trusted partner in this space, we are strategically positioned to leverage the vast redevelopment potential in the region,” Irani added.

 

Sequentially, the company’s profit more than tripled, while revenue rose 26.1 per cent. Profit in Q3 FY25 stood at ₹15.1 crore, while revenue was ₹464.02 crore.

 

Additionally, Rustomjee announced a dividend of ₹1.50 per equity share.