The shares of a Mumbai based real estate company,engaged in construction and development projects across India rose 10% after being selected for a Rs 3,000 crore cluster redevelopment project in Andheri West involving 8 housing societies.
With a market capitalization of Rs 8,233 Crores, the share price of Keystone Realtors Limited was trading almost 10% up to hit an intraday high of Rs 688.00 per share from its previous closing price of Rs 625.90 per share.
Keystone Realtors Ltd (Rustomjee Group) has been chosen by 8 housing societies for a large-scale cluster redevelopment project in Andheri West (Lokhandwala), Mumbai.
The project spans 4.75 acres and is expected to generate a Gross Development Value (GDV) of around Rs 3,000 crore. It will redevelop 548 homes and unlock approximately 10.6 lakh sq. ft. of saleable area, further strengthening the company’s presence in suburban Mumbai.
Mr. Boman Irani, Chairman and Managing Director, Keystone Realtors Limited, commented, “We are proud to have been selected as the preferred redevelopment partner for this large-format society cluster in Andheri West – one of Mumbai’s most dynamic residential neighbourhoods.
With a GDV of nearly Rs. 3,000 Crs and a significant development footprint, this project exemplifies our focus on scale, location, and value creation. We believe that urban redevelopment is not just about creating real estate, but about revitalising communities and transforming the way people live in the city.
This cluster-led approach is a testament to the growing trust in Rustomjee’s redevelopment capabilities and our consistent track record of timely delivery and thoughtful design.”
Keystone Realtors Limited, part of the Rustomjee Group, is a leading real estate developer in the Mumbai Metropolitan Region (MMR), with strong expertise in redevelopment projects.
Since its incorporation in 1995, the company has completed 37 projects, is executing 16 ongoing developments, and has 26 more in the pipeline, covering segments from affordable to super premium housing.LINK
Keystone has delivered over 26 million sq. ft. of built-up area and has a development pipeline of 40+ million sq. ft. With 300+ completed buildings and over 17,000 families housed including 1,700 through redevelopment the company follows an asset-light model and integrated development approach to create long-term value.
The company reported a revenue of Rs 2,004 crore in FY25, down by 9.8 percent from its FY24 revenue of Rs 2,222 crore. Coming to its profitability, the company reported a net profit rise of 69.4 percent to Rs 188 crore in FY25 from Rs 111 crore in FY24. The stock delivered an ROE and ROCE of 7.53 percent and 9.33 percent, respectively.
Written By Rohan Pandey
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