Keystone Realtors Targets ₹4000 Crore Pre-Sales in FY26, Sees Strong Demand in Mumbai
Keystone Realtors, led by CMD Boman Irani, aims for 33% growth in pre-sales to ₹4000 crore in FY26, supported by a strong focus on redevelopment and mid-market projects in Mumbai.
Keystone RealtorsMumbai Real EstateRedevelopment ProjectsMidmarket SegmentPresalesReal Estate MumbaiJun 26, 2025
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.
Frequently Asked Questions
What is Keystone Realtors' target for pre-sales in FY26?
Keystone Realtors is aiming for a 33% growth in pre-sales to ₹4,000 crore in FY26.
How many projects has Keystone Realtors acquired in the past two and a half years?
Keystone Realtors has acquired 22 projects in the past two and a half years, 18 of which are redevelopment projects and 16 are in the mid-market segment.
What segments is Keystone Realtors focusing on in Mumbai?
Keystone Realtors is focusing on the mid-market and aspirational housing segments, as well as premium and ultra-premium projects in Mumbai.
How many buildings in Mumbai are looking to undergo redevelopment?
Over 60,000 buildings in Mumbai are looking to undergo the redevelopment process.
What is Keystone Realtors' current market capitalisation?
Keystone Realtors' current market capitalisation is ₹7,140 crore.
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