Keystone Realtors Share Price Rose 4.74%; Wins ₹3,000 Cr Andheri West Redevelopment Project

Keystone Realtors Limited, popularly known as the Rustomjee Group, has been selected by eight housing societies in Mumbai’s Andheri West for a large-scale cluster redevelopment project. The company has already executed Development Agreements (DAs) with five societies and received Letters of Intent (LOIs) from the remaining three, with formal agreements expected shortly.

Project Scope and Value

The redevelopment will cover a total plot area of approximately 4.75 acres (19,229 sq. meters) and involves 548 existing members. Once complete, the project is anticipated to unlock a saleable area of around 10.6 lakh sq. ft., with an estimated Gross Development Value (GDV) of ₹3,000 crore.

Strategic Location and Growth Outlook

Located in the heart of Andheri West—a highly sought-after residential hub in Mumbai—the project aligns with Rustomjee’s strategic focus on expanding in prime suburban markets. The move also contributes to the group’s effort to create integrated gated communities offering modern lifestyle amenities in urban spaces.

Reinforcing Market Presence

This redevelopment project adds significant value to Rustomjee’s current project pipeline and highlights its continued momentum in securing high-potential, strategically located urban redevelopment opportunities.

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.”

Also Read: Raymond Realty Emphasises Financial Discipline in Redevelopment Deals!

Keystone Realtors Share Price Performance

On July 2, 2025, Keystone Realtors share price (NSE: RUSTOMJEE) opened at ₹656.25, up from its previous close of ₹633.95. At 9:39 AM, the share price of Keystone Realtors was trading at ₹664.00, up by 4.74% on the NSE.

Conclusion

Rustomjee’s latest selection for the Andheri West cluster redevelopment project underscores its leadership in Mumbai’s real estate sector. The scale and potential of this project further strengthen the company’s position in the suburban premium housing market while supporting its long-term growth and diversification strategy.

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