Keystone Realtors shares jump 9% on strong Q1 results; Margins expand sharply from last year

Shares of Keystone Realtors gained 9% on Tuesday, August 4, after the company reported its first quarter earnings.

It reported a strong set of earnings across all key parameters.

Its net profit surged to ₹53 crore in the June quarter from ₹14.5 crore in the previous year.

Its revenue increased 72.2% to ₹470.3 crore from ₹273.1 crore in the first quarter last year.

The company's earnings before interest taxes depreciation and amortization (EBITDA) rose to ₹82.2 crore from ₹13.7 crore in the last fiscal. EBITDA margins expanded sharply to 17.5% in the first quarter from 5% in the year-ago period.

Keystone Realtors in its investor presentation said its collections in the first quarter increased by 4% to ₹599 crore compared to last year's ₹575 crore.

It reported pre-sales of ₹617 crore in the June quarter in comparison to ₹1,068 crore in the year-ago period.

Keystone Realtors said it has a strong launch pipeline planned across the Mumbai Metropolitan Region over the coming quarters.

It added two new projects in the first quarter with gross development value of ₹550 crore.

Shares of Keystone Realtors are still trading 6% higher, having gained as much as 9% to make an intraday high of ₹433.2. The stock is still down 21% so far this year.

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