Keystone Realtors' Mumbai Land Buy Spurs ₹7,700 Cr Housing Boom

A Major Move by Keystone Realtors in Mumbai

In a bold stride towards transforming Mumbai’s real estate landscape, Keystone Realtors has acquired three prime land parcels with a staggering gross development value (GDV) exceeding ₹7,700 crore. This acquisition signals an expansive growth chapter for one of Mumbai's leading developers, aiming to deliver homes that redefine urban living.

Surpassing Expectations: Record Sales and Project Acquisitions

The company achieved an unprecedented quarterly pre-sales record of ₹1,068 crore in the first quarter of fiscal 2025-26, a sharp 75% increase from the previous year. This performance underlines the surging demand and trust in the Rustomjee brand. Keystone isn’t stopping here; it continues to scout for more land across the Mumbai Metropolitan Region (MMR), reinforcing its position as a redevelopment pioneer.

Strategic Redevelopment Projects Across Mumbai

Among the newest additions, the GTB Nagar Cluster redevelopment at Sion boasts a project value of ₹4,521 crore, followed by the Lokhandwala Cluster in Andheri (West) valued at ₹2,956 crore, and a smaller yet impactful Goregaon (East) redevelopment at ₹251 crore. Together, these projects cover approximately 3.25 million square feet of saleable area, promising modern, sustainable housing for thousands.

Innovation in Project Execution and Financial Management

Shifting gears from the project completion method, Keystone is adopting the percentage of completion method for revenue recognition, aiming to reflect a more transparent and realistic financial performance driving investor confidence. Despite a temporary dip in consolidated net profit in the recent quarter due to project accounting changes, the long-term outlook remains robust.

Keystone Realtors: A Beacon of Redevelopment Excellence

Since its inception in 1995, Keystone Realtors has grown into a cornerstone of Mumbai’s real estate sector, excelling particularly in cluster and society redevelopments. With its focus on delivering high-quality residential spaces under the trusted Rustomjee name, the company is set to continue shaping Mumbai’s skyline and housing options for decades to come.