Keystone Realtors to Redevelop 8 Mumbai Housing Societies; Targets ₹1,775 Crore Revenue

Keystone Realtors plans to redevelop eight housing societies in Mumbai.
The project is expected to generate about ₹1,775 crore in revenue from a free sale area of nearly 5 lakh square feet.

The company, which sells homes under the ‘Rustomjee’ brand, has been appointed as the developer for the large redevelopment project of Om Nagar Co-operative Housing Society Federation Limited.

Project Details and Resident Rehabilitation

The redevelopment covers a total land parcel of around 20,569.90 square metres in Andheri (East).
As part of the plan, 637 existing residents across the eight societies will be provided new homes after redevelopment.

The project is also expected to unlock significant saleable residential space registered under RERA, contributing to the estimated gross development value (GDV).

Strategic Growth Focus

Chairman and Managing Director Boman Irani said the company is increasing its focus on large housing society redevelopments.
He added that this project strengthens the company’s presence in an important suburban micro-market of Mumbai.

Existing Project Portfolio

Keystone Realtors has a strong presence across the Mumbai Metropolitan Region, with:

• 38 completed projects
• 20 ongoing developments
• 24 upcoming projects

This wide pipeline supports the company’s long-term growth in the residential real estate segment.

Read More: RBI to Overhaul Lead Bank Scheme for Enhanced Effectiveness!

Keystone Realtors Share Price Movement

Keystone Realtors share price (NSE: RUSTOMJEE) was trading at ₹468.45 on February 16 at around 1:52 pm IST, down ₹21.90 or 4.47% for the day. The stock opened at ₹492, touched an intraday high of ₹495.50, and fell to a low of ₹457.50, which is close to its 52-week low of ₹456.55. Over the past year, the stock has recorded a 52-week high of ₹697.

Conclusion

The new redevelopment project highlights Keystone Realtors’ strategy to expand through large housing society redevelopments in key Mumbai locations. With strong GDV potential and a growing project pipeline, the company appears well positioned for future growth.

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