 "Keystone Realtors shares in focus")
Shares of Keystone Realtors rose nearly 3 per cent on Wednesday as the company reported strong operational performance for the first half of FY26.
The real estate company's stock rose as much as 2.62 per cent during the day to ₹634 per share, the highest level since September 1 this year. The stock pared gains to trade 0.4 per cent higher at ₹619.4 apiece, compared to a 0.25 per cent decline in Nifty 50 as of 11:07 AM. The Nifty Realty index, meanwhile, was the top loser in trade on Wednesday, falling nearly 1.5 per cent.
Shares of the company rose for the second day. The counter has fallen 8.5 per cent this year, compared to a 6 per cent advance in the benchmark Nifty 50. Keystone Realtors has a total market capitalisation of ₹7,789.33 crore.
Keystone Realtors Q2 updates
For H1 FY26, the company recorded sales of 1.13 million sqft, up 61 per cent year-on-year (Y-o-Y) from 0.70 million sqft in H1 FY25. Pre-sales rose 40 per cent to ₹1,831 crore, while collections increased 13 per cent to ₹1,177 crore.
On a quarterly basis, Q2 FY26 sales stood at 0.50 million sqft, up 9 per cent Y-o-Y from 0.46 million sqft in Q2 FY25. Pre-sales rose 9 per cent to ₹763 crore, while collections also increased 9 per cent to ₹601 crore.
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In H1 FY26, Keystone Realtors added three redevelopment projects, GTB Nagar (Sion), Lokhandwala Cluster (Andheri West), and Swarganga CHSL (Dindoshi, Goregaon East), with a combined saleable area of 3.25 million sqft and estimated GDV of ₹7,727 crore, surpassing its full-year FY26 business development guidance.
"As we move into the festive season, our robust pipeline positions us well to capitalise on upcoming demand, and I am confident in our ability to not only acquire new projects but also execute them efficiently," Boman Irani, CMD of Keystone Realtors, said. "Redevelopment in Mumbai continues to remain a core strategic focus, offering immense potential for sustained value creation."
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JM Financial on Keystone Realtors Q2 update
Keystone Realtors reported a marginal beat on pre-sales in Q2 FY26, with quarterly pre-sales of ₹760 crore, up 9 per cent y-o-Y and slightly above JM Financial’s estimate of ₹700 crore.
The brokerage has a buy rating on the stocks and noted that it launched one project in Q2, 'Thirty3.15' at Bandra West, with a saleable area of 0.2 million sqft and an estimated gross development value (GDV) of ₹950 crore. In the first half of FY26, Keystone Realtors launched four projects with an estimated GDV of ₹4,920 crore.
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