Keystone Realtors hits all-time low of ₹328.05 after eight-session slide

Keystone Realtors Ltd, which sells homes under the Rustomjee brand, touched an intraday low of ₹328.05 on the NSE on 22 October 2026, setting a fresh 52-week and all-time low. The Mumbai-based developer’s shares had fallen for eight consecutive sessions. They closed the day down 1.04%, slightly more than the Sensex’s 0.93% decline.

The share price was down 41.92% over the past year, compared with a 12.91% gain in the Sensex. Over three years, Keystone had fallen 41.95%, while the index had risen 11.67%. No company announcement explaining the share-price movement was available in the research notes, so the decline is a market-price event rather than a company-attributed development.

Q2 bookings rose, collections fell

In its 8 October business update, Keystone reported Q2 FY27 pre-sales of ₹1,423 crore, up 84% year on year, and collections of ₹541 crore, down 19%. The company sold 0.65 million sq ft during the quarter, up 31%. For the first half of FY27, pre-sales rose 11% to ₹2,041 crore, while collections fell 8% to ₹1,141 crore.

The difference between bookings and collections is relevant because pre-sales record customer bookings, while collections reflect money received. In Q1 FY27, pre-sales had fallen 42% year on year to ₹617 crore, while collections increased 4% to ₹599 crore. The Q2 figures therefore show stronger bookings than a year earlier, but lower collections. These operating figures provide context for investors; the company has not linked them to the stock’s fall.

The October update also covered the launch of Rustomjee Ozone Skye in Malad West and the start of construction on the commercial project 25HQ in Prabhadevi. Together, the projects have a saleable area of 0.54 million sq ft and a stated gross development value of ₹2,196 crore. Keystone said it remains focused on the Mumbai Metropolitan Region.

Investors await results call

The shares were trading below key moving averages, including the 5-day, 20-day, 50-day, 100-day and 200-day averages, in MarketsMojo’s technical assessment. The service listed ₹328.05 as immediate support and ₹358.09 as resistance at the 20-day average. These are model-based technical reference points, not company guidance. MarketsMojo also assigned the stock a Strong Sell grade, a model rating it had downgraded from Sell on 12 October.

Keystone’s Q2 FY27 and H1 FY27 unaudited results call is scheduled for 4 November 2026 at 4 pm IST. Investors will be watching for the reported results and management’s discussion of bookings, collections and the company’s project pipeline. The company’s Q2 update named launches and construction activity, while an analyst estimate put its H2 FY27 launch pipeline at about ₹6,000 crore; that estimate is not company guidance.

For the market, the next test is whether the company’s higher Q2 pre-sales translate into stronger collections in subsequent periods. The scheduled results call is the next point at which investors can assess that gap against the company’s reported operating figures.