Rustomjee Posts Highest Quarterly Pre-sales in Q2

What happened

Rustomjee Group, listed as Keystone Realtors, reported record quarterly pre-sales of 1,423 crore in the second quarter of financial year 2026-27, up 84% year-on-year, driven by luxury and super-premium housing demand. September-quarter net profit rose to 101 crore from 10 crore a year earlier; revenue was 497 crore and operating profit 74 crore.

Confirmed

Global impact / market context

Higher home bookings can support future revenue as projects are completed, while the sharp profit increase and improved operating margin indicate stronger reported earnings this quarter. However, the company’s full-year pre-sales target depends on sustaining demand and converting bookings into completed sales and cash receipts.

Analyst inference

First-half pre-sales reached 2,041 crore, about 41% of the full-year guidance of 5,000 crore, leaving much of the target to be achieved in the remaining period. Management also cited projects under development and plans to add more, creating potential growth but requiring execution.

Analyst inference

What to watch

1. Track whether pre-sales continue at a pace sufficient to approach the 5,000-crore annual target, since first-half bookings were about 41% of guidance. Analyst inference
2. Watch progress on the 8,000-crore estimated project pipeline and the additional 8,000 crore of projects management aims to add during the year. Proposed
3. Compare future revenue, operating profit and cash receipts with bookings; pre-sales are customer commitments, and timing of project delivery can affect when they become revenue. Analyst inference

Evidence

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