Keystone Realtors Surges 8% on Winning LoA for Mumbai Redevelopment Project
Keystone Realtors' share price jumped 8% after the company, in collaboration with MHADA, secured a Letter of Acceptance (LoA) for a significant redevelopment project in Mumbai's GTB Nagar.
Keystone RealtorsMumbaiRedevelopmentMhadaReal EstateReal Estate MumbaiJul 01, 2025
In one year, Keystone Realtors shares have lost 7.5 per cent, contrasting with the Sensex's rise of 5 per cent.
What led to a rally in Keystone Realtors' stock? The significant rise in the stock price came after the company, in collaboration with the Maharashtra Housing and Area Development Authority (MHADA), received a Letter of Acceptance (LoA) for the redevelopment of GTB Nagar in Sion.
The redevelopment area spans approximately 11.19 acres (45,308 square meters) and is expected to benefit over 1,400 families. The project is poised to unlock a saleable area of around 20.7 lakh square feet, with an estimated Gross Development Value (GDV) of approximately ₹4,521 crore.
“Keystone Realtors is honoured 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, we believe 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,” said Boman Irani, chairman and managing director, Keystone Realtors.
About Keystone Realtors Incorporated in 1995, Keystone Realtors is an MMR-based real estate developer and a leader in the redevelopment space. The company has a substantial portfolio of projects spanning the Mumbai Metropolitan Region (MMR), with 37 completed projects, 16 ongoing projects, and 26 forthcoming projects that cover all price points, from affordable to super premium. So far, the company has delivered over 26 million square feet, with a pipeline of over 40 million square feet in the works. A strategic asset-light approach, an integrated real estate development model, and a strong eye for quality and detail give the company's management team an edge over its peers.
Frequently Asked Questions
What caused the surge in Keystone Realtors' share price?
Keystone Realtors' share price surged 8.3 per cent after the company, in collaboration with MHADA, received a Letter of Acceptance (LoA) for the redevelopment of GTB Nagar in Sion, Mumbai.
What is the scale of the GTB Nagar redevelopment project?
The GTB Nagar redevelopment project spans approximately 11.19 acres and is expected to benefit over 1,400 families. It is poised to unlock a saleable area of around 20.7 lakh square feet, with an estimated Gross Development Value (GDV) of approximately ₹4,521 crore.
Who is Boman Irani, and what is his role in Keystone Realtors?
Boman Irani is the chairman and managing director of Keystone Realtors. He has played a significant role in the company's growth and strategic initiatives, particularly in the redevelopment space.
What is Keystone Realtors' market capitalisation, and how has its share price performed over the past year?
Keystone Realtors' market capitalisation stands at ₹8,140.89 crore. Over the past year, the company's share price has lost 7.5 per cent, while the Sensex has risen by 5 per cent.
What is Keystone Realtors' approach to real estate development, and what are some of its notable projects?
Keystone Realtors follows a strategic asset-light approach and an integrated real estate development model. The company has completed 37 projects, has 16 ongoing projects, and 26 forthcoming projects in the Mumbai Metropolitan Region (MMR). These projects cover all price points, from affordable to super premium.
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