Keystone Realtors Secures Rs 1,775 Crore Redevelopment Project in Andheri East
Keystone Realtors Limited, a prominent real estate developer, has been chosen to undertake a significant redevelopment project in Andheri East, Mumbai. The project, valued at Rs 1,775 crores, involves the redevelopment of the Om Nagar Co-operative Housing Society, covering an area of 20,569.90 square meters. This strategic addition to Keystone's portfolio highlights the company's commitment to large-scale society redevelopments in Mumbai's western suburbs.
The redevelopment project encompasses eight housing societies, located on prime land in Andheri East, Mumbai, Maharashtra. This landmark initiative is one of the largest society redevelopment projects in the western suburbs, rehousing 637 existing members while unlocking approximately 5 lakh square feet of free sale area.
According to the project details:
- Land Area : ~20,569.90 square meters - Number of Societies : 8 housing societies - Location : Andheri (East), Mumbai - Existing Members : 637 members to be rehoused - Free Sale Area : ~5 lakh sq. ft. RERA carpet area - Gross Development Value : ~Rs. 1,775 crores
The project aligns with Keystone Realtors' strategy to expand its presence in prime suburban markets and build a diversified portfolio across various micro-markets and ticket sizes. The development focuses on creating gated communities and holistic lifestyle offerings through large-layout redevelopments, reinforcing the company's position in Mumbai's high-growth western suburbs.
Mr. Boman Irani, Chairman and Managing Director of Keystone Realtors Limited, emphasized the strategic importance of the project. He stated, 'This assignment underscores the confidence placed in Keystone's ability to execute large-scale, complex urban redevelopment projects and deliver well-planned communities. It exemplifies our focus on scale, location, and value creation.'
This new project further strengthens Keystone's project pipeline for the current financial year, continuing its momentum of adding strategically located, high-potential redevelopment projects in key urban clusters. The company has a strong track record in the redevelopment space, with substantial experience in housing families through various redevelopment initiatives.
Keystone Realtors' portfolio metrics highlight its robust presence in the market:
- Completed Projects : 38 projects - Ongoing Projects : 20 projects - Forthcoming Projects : 24 projects - Delivered Construction Area : 28+ million sq. ft. - Pipeline Construction Area : 47+ million sq. ft. - Families Housed : 18,000+ families - Re-housed Families : 1,800+ families
Incorporated in 1995, Keystone Realtors Limited operates as one of the prominent real estate developers in the Mumbai Metropolitan Region (MMR). The company's portfolio spans all price points, from mass market to luxury segments, and it maintains a comprehensive presence across the region. Keystone's strategic asset-light approach, integrated real estate development model, and focus on quality and detail provide it with a competitive edge in the market.
Historical stock returns for Keystone Realtors over various periods are as follows:
- 1 Day : -4.55% - 5 Days : +1.10% - 1 Month : -5.49% - 6 Months : -24.74% - 1 Year : -9.13% - 5 Years : -15.95%
These returns reflect the company's performance in the stock market and provide investors with insights into its financial health and market position.
