Keystone Realtors Limited has informed the Exchange about General Updates
RUSTOMJEE · price
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Awaiting price reaction for this filing.
Keystone Realtors (Rustomjee Group) has been selected by 8 housing societies in Andheri West, Mumbai, for a large cluster redevelopment project. The project spans approximately 4.75 acres, covers 548 existing society members, and is expected to generate a saleable area of around 10.6 lakh square feet with a Gross Development Value (GDV) of approximately Rs. 3,000 Crores. Development Agreements have already been executed with 5 of the 8 societies, with the remaining 3 expected to sign in the coming days. Management highlighted that this addition strengthens the company's project pipeline for the current financial year and aligns with its strategy of expanding in prime suburban micro-markets.
This is a significant project win that adds a sizeable Rs. 3,000 Crores to Keystone's redevelopment pipeline, reinforcing growth visibility. Positive for sentiment as it demonstrates continued order-book momentum in a prime Mumbai micro-market, though actual revenue recognition will be spread over multiple years.