NEW DELHI: Keystone Realtors, a prominent real estate firm, is set to unveil a super luxury residential project in Mumbai next month, projected to generate approximately ₹3,000 crore in revenue, according to a senior company official.
Based in Mumbai, Keystone Realtors operates under the Rustomjee brand and is recognized as one of India’s leading real estate developers.
In a recent interview with PTI, Boman Irani, Chairman and Managing Director of Keystone Realtors, expressed a strong optimism regarding housing demand. He is confident that the sales bookings target of ₹4,000 crore for the current fiscal year will easily be met.
The company has already recorded property sales worth ₹1,839 crore in the first half of the fiscal year 2025-26, reflecting a 40% annual increase.
Regarding upcoming projects, Irani revealed plans for a super luxury residential development at Bandstand, Bandra, slated to launch next month. “The gross development value (GDV) of this upcoming project is expected to be around ₹3,000 crore,” he stated.
Irani further mentioned the company’s target of launching properties worth ₹7,000 crore during this fiscal year.
In the April-September period of the current fiscal year, Keystone Realtors has already introduced four projects with a combined GDV of ₹4,916 crore. Another four projects worth ₹4,832 crore are anticipated for the second half of the fiscal year.
Additionally, the company plans to invest approximately ₹950 crore in the ongoing construction of its real estate projects this fiscal year to ensure timely property deliveries. This investment marks a 15% increase from the ₹830 crore allocated in the fiscal year 2024-25.
Addressing the current demand landscape, Irani noted that the Mumbai Metropolitan Region (MMR) is witnessing robust housing demand from both end-users and investors. He attributed this to wealth creation driven by strong economic growth and a thriving stock market.
According to Irani, the surplus wealth is increasingly being invested in residential properties, as real estate remains a preferred investment avenue. He also highlighted that declining home loan interest rates are expected to stimulate sales further.
Keystone Realtors operates on an asset-light model and is a key player in the redevelopment housing sector. To date, the company has delivered over 26 million sq ft of residential space, providing more than 17,000 apartments to customers.
