Keystone Realtors Targets ₹4000 Crore Pre-Sales in FY26, Sees Strong Demand in Mumbai

Keystone Realtors is aiming for a 33% growth in pre-sales to ₹4,000 crore in FY26, supported by a total launch pipeline of ₹7,000 crore. The Mumbai-based real estate company is focusing on projects in key micro-markets where it has already acquired 22 projects over the past two and a half years—18 of which are redevelopment projects and 16 are in the mid-market segment.

Chairman and Managing Director Boman Rustom Irani said the markets are “extremely strong,” particularly in the areas where the company operates. He highlighted that the mid-market and aspirational housing segments are the fastest-growing in Mumbai and that Keystone is well-positioned to cater to this demand.

The company is also maintaining a strong focus on premium and ultra-premium projects. With ₹3.5 lakh crore of government investments in infrastructure like coastal roads and metro networks, Irani expects continued development momentum. “Like I told you, 40,248 properties got registered in the last quarter,” he said, pointing to strong market activity.

Irani believes the redevelopment market in Mumbai is huge, with over 60,000 buildings looking to undergo the process. He said the entry of several players into this space validates Keystone Realtors’ early mover advantage. The company was one of the first organised developers in the segment, and its track record has made it a preferred choice for many societies.

Irani pointed out that being a listed company gives Keystone an added layer of trust, as financials are publicly accessible. The firm has already re-housed more than 2,000 families, providing visible proof of delivery to potential clients. He noted that competition in the redevelopment space is rising, with over 20 companies bidding for quality projects today. However, he sees this as a positive development. Societies are becoming more selective, often working with professional management consultants (PMCs) who screen developers based on their financial strength, past experience, and execution capability.

Irani welcomed this shift, saying it helps filter out developers who lack the expertise to handle complex redevelopment projects. Keystone Realtors’ current market capitalisation is ₹7,140 crore. The stock is currently trading at ₹568.55 as of 10:32 am on the NSE and has declined 16% over the last year.