Keystone Realtor Q1 FY27 Results (NSE: RUSTOMJEE)
Signal: Margins at cyclical peak
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹4.7 Cr | 72.2% | -82.1% |
| EBIT | ₹1 Cr | 298.1% | |
| Net profit | ₹0 Cr | -100.0% | |
| EPS | ₹4.21 | 266.1% | |
| EBIT margin | 21.2% |
P&L walk
Revenue surged 72% YoY to ₹470 Cr, but QoQ dropped 82% after a massive Q4 base (₹1,597 Cr). EBITDA grew 260% YoY to ₹105 Cr, with margin expanding 1060bps YoY to 22.4%, helped by lower construction costs as % of revenue. PAT is zero — entirely offset by a tax expense of ₹18 Cr against PBT of ₹69 Cr, and a one-off other income (₹23 Cr, 33% of PBT) inflates EBITDA. On a standalone basis, revenue fell to ₹89 Cr (-71% QoQ) and PAT dropped 52% YoY.
Earnings quality: includes non-operating other income
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