Given Five-stars proven track record coupled with its unique positioning and deep understanding of its customer segment, we expect the company to maintain its growth trajectory and deliver on profitability and asset quality metrics with RoEs expected to reach 21.4% by FY26E. We maintain BUY with a revised target price of INR 1020 (valuing at 4x FY26E BVPS).
Keystone Realtors carries out property development under the brand name ‘Rustomjee’. The company has 12 ongoing projects and 21 forthcoming projects across the Mumbai Metropolitan Region (MMR). It completed 32 projects till June 30