Keystone Realtors Launches ₹3,000 Crore Ultra-Luxury Residential Project in Mumbai

Keystone Realtors, a real estate company based out of Mumbai and renowned for their super-luxury residential projects under the Rustomjee brand, is all set to enter the super-luxury segment with their upcoming residential project in the city. The project, with a Gross Development Value (GDV) of ₹3,000 crores, is currently under construction and is scheduled to launch in the coming month. This move underscores the company's confidence in the continuous demand for super-luxury properties in the Mumbai Metropolitan Region (MMR).

Boman Irani, Chairman and Managing Director of Keystone Realtors, expressed optimism about the company's growth outlook and the demand for residential real estate. He stated, 'We continue to be positive on the growth outlook of the company and residential real estate demand, underpinned by increasing income levels, growing investor interest, and finally improving market sentiment.' Irani is confident that Keystone will comfortably meet its sales booking target of ₹4,000 crore for the current financial year.

Keystone Realtors has already seen strong sales in the first half of the 2025-26 fiscal year. The developer reported property sales valued at ₹1,839 crore between April and September, marking a 40% increase over the corresponding period last year. This robust performance has provided the necessary momentum for the developer's ambitious growth plans in the second half of the fiscal year.

The company had earlier announced its intention to launch projects worth ₹7,000 crore during FY26. With four projects already introduced in the first half of the year, amounting to a GDV of ₹4,916 crore, Keystone is on track to exceed its launch targets. The developer plans to roll out another four projects with a combined GDV of ₹4,832 crore in the remaining months of the fiscal year.

The proposed ultra-premium project is likely to be constructed at Bandstand in Bandra, one of the most preferred residential destinations in Mumbai. The plots are located along the seafacing area, and the availability of land in this prime location is quite limited. The buyers of such properties are typically from the premium category.

Keystone Realtors has positioned itself well in the redevelopment schemes in the housing sector, which is particularly significant in land-scarce areas like Mumbai. The company operates on an asset-light business model, allowing it to expand its operations without the heavy financial burden of land acquisition. This agility is crucial for the company's growth strategy.

Keystone Realtors intends to invest close to ₹950 crore on construction activities in the current fiscal year to ensure the timely completion and delivery of its ongoing projects. This represents a 15% increase over the estimated construction spend of ₹830 crore in FY25. Timely delivery is a top priority, especially in premium and luxury housing, where high buyer expectations are paramount. The company's ongoing investment in construction demonstrates its commitment to quality execution and customer trust.

Regarding the broader market scenario, Irani noted that housing demand remains strong for both end-users and investors in the Mumbai Metropolitan Region. This trend is driven by sustained wealth creation through steady economic growth and buoyant equity markets, which encourage high-net-worth individuals to invest surplus funds in residential real estate. The anticipation of lower housing loan interest rates is also likely to boost demand, as a decline in borrowing costs enhances affordability and buyer confidence, particularly for high-value luxury properties.

Keystone Realtors has delivered over 26 million square feet of real estate across various projects and handed over keys to more than 17,000 homes to clients over the years. This strong execution track record has bolstered the company's credibility in a highly competitive market. With continued strong demand for premium housing and redevelopment sites across Mumbai, Keystone Realtors aims to generate significant interest in their ultra-luxury pipeline.