Stock Price Movement and Market Context
On 24 Feb 2026, Keystone Realtors Ltd’s stock touched an intraday low of Rs.427.3, representing a 5.16% decline from the previous close. This new 52-week low underscores the persistent downward momentum the stock has experienced over the past year. The day’s decline of 2.93% further underperformed the Realty sector, which itself fell by 2.55%, and the stock lagged the sector by 2.15% on the day.
The stock’s current price is significantly below its 52-week high of Rs.697, reflecting a depreciation of approximately 38.7% from that peak. Keystone Realtors is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling a sustained bearish trend.
Meanwhile, the broader market has also faced pressure, with the Sensex falling sharply by 777.88 points (-1.22%) to close at 82,274.66. Despite this, the Sensex remains within 4.72% of its 52-week high of 86,159.02, indicating that Keystone Realtors’ underperformance is more pronounced relative to the benchmark.
Financial Performance and Profitability Concerns
Keystone Realtors’ recent financial disclosures have revealed significant declines in profitability metrics, contributing to the stock’s weak performance. The company reported a steep fall in operating profit by 61.96% in the December 2025 quarter, which was characterised as very negative results. This marks the second consecutive quarter of negative financial outcomes, highlighting ongoing pressures on the company’s earnings.
Profit after tax (PAT) for the quarter stood at Rs.3.38 crores, down 86.9% compared to the average of the previous four quarters. This sharp contraction in net earnings has weighed heavily on investor sentiment and valuation.
Return on Capital Employed (ROCE) for the half-year period was recorded at a low 5.27%, while the operating profit to interest coverage ratio fell to 0.49 times, indicating limited buffer to service debt obligations from operating earnings. Return on Equity (ROE) also remained subdued at 3.7%, reflecting modest returns relative to shareholder equity.
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Valuation and Comparative Performance
Despite the subdued earnings, Keystone Realtors’ valuation remains relatively expensive on certain metrics. The stock trades at a price-to-book value of 2, which is high given the company’s low returns on equity and capital employed. This valuation premium is notable considering the company’s deteriorating profitability and earnings trajectory.
Over the past year, Keystone Realtors has delivered a total return of -15.24%, significantly underperforming the Sensex, which gained 10.50% over the same period. The company’s profits have declined by 33.8% in the last year, reflecting challenges in sustaining growth and profitability.
Longer-term performance also remains below par, with the stock underperforming the BSE500 index over the last three years, one year, and three months. This trend highlights persistent difficulties in regaining investor confidence and market share within the Realty sector.
Sectoral and Market Influences
The Realty sector, particularly the Construction - Real Estate segment, has faced headwinds, with the sector index declining by 2.55% on the day. Keystone Realtors’ underperformance relative to its sector peers suggests company-specific factors are compounding broader market pressures.
Market-wide volatility is evident as the Sensex opened sharply lower by 242.12 points and extended losses throughout the trading session. The index’s position below its 50-day moving average, despite the 50DMA trading above the 200DMA, indicates a cautious market environment that has not favoured cyclical or realty stocks.
Balance Sheet and Shareholding Structure
On the balance sheet front, Keystone Realtors maintains a low average debt-to-equity ratio of 0.04 times, suggesting limited leverage and a conservative capital structure. This low gearing may provide some financial flexibility despite the earnings pressures.
The company’s majority shareholding remains with promoters, indicating concentrated ownership. This structure can influence strategic decisions and capital allocation but has not yet translated into a turnaround in performance.
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Mojo Score and Rating Update
Reflecting the company’s recent financial and market performance, Keystone Realtors’ Mojo Score stands at 20.0, categorised as a Strong Sell. This rating was upgraded from Sell to Strong Sell on 5 Dec 2025, signalling increased caution based on deteriorating fundamentals and price trends.
The company’s market capitalisation grade is rated 3, indicating a mid-tier size within its sector. The downgrade in rating aligns with the company’s negative quarterly results and declining profitability metrics.
Summary of Key Metrics
To summarise, Keystone Realtors Ltd’s key financial and market indicators as of 24 Feb 2026 are:
- New 52-week low price: Rs.427.3
- 52-week high price: Rs.697
- One-year stock return: -15.24%
- Sensex one-year return: +10.50%
- Operating profit decline (Dec 2025 quarter): -61.96%
- PAT decline (quarterly): -86.9%
- ROCE (half-year): 5.27%
- Operating profit to interest coverage ratio (quarterly): 0.49 times
- ROE: 3.7%
- Price to book value: 2
- Debt to equity ratio (average): 0.04 times
- Mojo Score: 20.0 (Strong Sell)
These figures illustrate the challenges Keystone Realtors faces in reversing its downward trajectory amid a cautious market environment and sectoral headwinds.
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