Keystone Realtors to Launch ₹3,000 Crore Ultra-Luxury Project in Mumbai
Realty firm Keystone Realtors plans to launch a super luxury residential project in Mumbai next month, with a revenue potential of about ₹3,000 crore, a top company official said.
Mumbai-based Keystone Realtors, which sells properties under the Rustomjee brand, is one of the leading real estate developers in the country. In an interview with PTI, Keystone Realtors Chairman and Managing Director Boman Irani expressed confidence in the housing market and the company's ability to achieve its sales targets.
The company has already sold properties worth ₹1,839 crore in the first half of 2025-26, representing a 40% annual increase. Irani revealed that Keystone Realtors is targeting the launch of a super luxury residential project at Bandstand, Bandra, in Mumbai next month. The gross development value (GDV) of this upcoming project is estimated to be around ₹3,000 crore.
Irani stated that the company has given an annual guidance of launching ₹7,000 crore worth of projects this fiscal year. So far, Keystone Realtors has launched four projects during the April-September period of this fiscal year, with a total GDV of ₹4,916 crore. In the second half of this fiscal year, the company plans to launch four more projects worth ₹4,832 crore.
To ensure timely delivery of properties, the company will invest about ₹950 crore during this fiscal year on the construction of existing real estate projects. This is a 15% increase from the ₹830 crore spent on construction activities in the 2024-25 fiscal year.
Irani noted that the demand for housing remains strong in the Mumbai Metropolitan Region (MMR) from both end-users and investors. He attributed this to the high economic growth and buoyancy in the stock markets, which are generating substantial wealth. This surplus wealth is being deployed in residential properties, with real estate being a preferred mode of investment.
The reduction in interest rates on home loans is expected to further drive sales in the coming months. Keystone Realtors, which follows an asset-light model, is a strong player in redevelopment housing projects. The company has delivered more than 26 million square feet of area and handed over more than 17,000 apartments to customers.
Keystone Realtors' focus on luxury and redevelopment projects, combined with its strong financial performance, positions it well to capitalize on the growing demand for high-end residential properties in Mumbai.
