Keystone Realtors' Stock Surges 9% on Major Mumbai Redevelopment Project
Keystone Realtors Limited's shares rose 9% after the company secured a significant redevelopment project in Mumbai, valued at Rs 4,521 crore. The project, in partnership with MHADA, will benefit over 1,400 families.
Real EstateRedevelopmentMumbaiKeystone RealtorsMhadaReal Estate MumbaiJul 01, 2025
With a market capitalization of Rs 8,166 crore, Keystone Realtors' share price hit an intraday high of Rs 666.00 per share, a significant jump from its previous closing price of Rs 614.45 per share.
Keystone Realtors Ltd, part of the Rustomjee Group, has been awarded the redevelopment project for GTB Nagar in Sion, Mumbai. The project spans 11.19 acres and has a Gross Development Value (GDV) of around Rs 4,521 crore. The redevelopment will benefit over 1,400 families and add approximately 20.7 lakh square feet of saleable area. This project further solidifies the company's presence in central Mumbai.
Mr. Boman Irani, Chairman and Managing Director of Keystone Realtors Limited, expressed his enthusiasm about the project, stating, “We are honored to have received the LOA for the redevelopment of GTB Nagar in Sion; a project that carries the hopes of 1,200 society members and 200 slum residents. As a pioneer in Mumbai’s redevelopment space, Rustomjee has always believed that such projects are not just about infrastructure, but about impact. In partnership with MHADA, we see this as much more than a redevelopment – it is about restoring faith, rebuilding homes, and uplifting lives. With over 1,400 families involved, this is among the largest redevelopment initiatives the city has seen, and we are privileged to be entrusted with this responsibility.”
Keystone Realtors Limited is a prominent real estate developer in the Mumbai Metropolitan Region (MMR), known for its expertise in redevelopment 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. Keystone has delivered over 26 million square feet of built-up area and has a development pipeline of 40+ million square feet. The company has housed over 17,000 families, including 1,700 through redevelopment, and follows an asset-light model and integrated development approach to create long-term value.
In the financial year 2025, Keystone Realtors 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 in FY25 from Rs 111 crore in FY24. The company's Return on Equity (ROE) and Return on Capital Employed (ROCE) stood at 7.53 percent and 9.33 percent, respectively.
The successful acquisition of this major redevelopment project in Mumbai is expected to further boost Keystone Realtors' market position and financial performance. It underscores the company's commitment to delivering high-quality, impactful projects that enhance the lives of communities while driving sustainable growth.
Frequently Asked Questions
What is the value of the redevelopment project awarded to Keystone Realtors?
The redevelopment project awarded to Keystone Realtors is valued at Rs 4,521 crore.
How many families will benefit from the GTB Nagar redevelopment project?
The GTB Nagar redevelopment project will benefit over 1,400 families.
What is the Gross Development Value (GDV) of the GTB Nagar project?
The Gross Development Value (GDV) of the GTB Nagar project is around Rs 4,521 crore.
Who is the partner of Keystone Realtors in the GTB Nagar redevelopment project?
Keystone Realtors is partnering with the Maharashtra Housing and Area Development Authority (MHADA) for the GTB Nagar redevelopment project.
What is Keystone Realtors' market capitalization?
Keystone Realtors' market capitalization is Rs 8,166 crore.
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