Keystone Realtors' Stock Surges 10% Following Rs 3,000 Crore Redevelopment Project in Mumbai
Shares of Keystone Realtors, a prominent real estate company in Mumbai, soared 10% after securing a Rs 3,000 crore cluster redevelopment project in Andheri West, involving 8 housing societies.
Real EstateRedevelopmentKeystone RealtorsMumbaiStock MarketReal EstateJul 02, 2025
Keystone Realtors Limited, with a market capitalization of Rs 8,233 crores, saw its share price rise to an intraday high of Rs 688.00 per share, a substantial increase from its previous closing price of Rs 625.90 per share. The company, part of the Rustomjee Group, is a renowned real estate developer in the Mumbai Metropolitan Region (MMR) with a strong focus on redevelopment projects.
Mr. Boman Irani, Chairman and Managing Director of Keystone Realtors Limited, expressed his pride in being selected as the preferred redevelopment partner for this large-format society cluster in Andheri West. He stated, “With a GDV of nearly Rs 3,000 crore 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 revitalizing 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.”
Keystone Realtors has a rich history of successful projects since its incorporation in 1995. The company has completed 37 projects, is currently executing 16 ongoing developments, and has 26 more in the pipeline, covering segments from affordable to super premium housing. Keystone has delivered over 26 million square feet of built-up area and has a development pipeline of 40+ million square feet. With 300+ completed buildings and over 17,000 families housed, including 1,700 through redevelopment, the company follows an asset-light model and integrated development approach to create long-term value.
In the financial year 2025, Keystone reported a revenue of Rs 2,004 crore, a 9.8 percent decrease from its FY24 revenue of Rs 2,222 crore. However, the company's profitability saw a significant rise, with a net profit increase of 69.4 percent to Rs 188 crore from Rs 111 crore in FY24. The company also delivered an ROE and ROCE of 7.53 percent and 9.33 percent, respectively.
This project in Andheri West is a major milestone for Keystone Realtors, further cementing its position as a leader in the real estate development sector. The company's focus on urban redevelopment and its commitment to community transformation are key factors in its success and continued growth.
Frequently Asked Questions
What is the significance of the redevelopment project in Andheri West for Keystone Realtors?
The redevelopment project in Andheri West is significant for Keystone Realtors as it involves a Gross Development Value (GDV) of Rs 3,000 crore and will redevelop 548 homes, unlocking approximately 10.6 lakh square feet of saleable area. This project further strengthens Keystone's presence in suburban Mumbai and showcases its expertise in large-scale redevelopment.
How much did Keystone Realtors' stock price increase after being selected for the project?
Keystone Realtors' stock price increased by 10%, reaching an intraday high of Rs 688.00 per share, up from its previous closing price of Rs 625.90 per share.
What is Keystone Realtors' market capitalization?
Keystone Realtors has a market capitalization of Rs 8,233 crores.
How many projects has Keystone Realtors completed since its incorporation in 1995?
Since its incorporation in 1995, Keystone Realtors has completed 37 projects and has 26 more in the pipeline.
What is Keystone Realtors' financial performance in the financial year 2025?
In the financial year 2025, Keystone Realtors reported a revenue of Rs 2,004 crore, a 9.8 percent decrease from FY24. However, the company's net profit increased by 69.4 percent to Rs 188 crore from Rs 111 crore in FY24. The company also delivered an ROE and ROCE of 7.53 percent and 9.33 percent, respectively.
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