Keystone Realtors’ Bold Move: Acquires Three Mumbai Land Parcels with ₹7,700 Cr GDV Ambition!!

Keystone Realtors’ Bold Move: Acquires Three Mumbai Land Parcels with ₹7,700 Cr GDV Ambition

Mumbai, August 2025 — Keystone Realtors, the real estate arm of the Rustomjee Group, has made a notable breakthrough by clinching three significant redevelopment deals in Mumbai during the first quarter of the 2025–26 fiscal year. Together, these deals boast a projected gross development value (GDV) of ₹7,727 crore, setting the tone for a high-growth trajectory. It’s a bold statement of intent from a developer doubling down on redevelopment opportunities in the city’s hot residential markets.

Record Quarter: Driving Growth with Triple Wins

• Highest-ever quarterly pre-sales: Keystone achieved ₹1,068 crore in April–June 2025, marking an impressive 75% year-on-year growth—a new milestone for the developer.

• Three new redevelopment projects: These include —

  1. GTB Nagar (Sion–Koliwada)

  2. Lokhandwala Cluster (Andheri West)

  3. Goregaon East Project
     — cumulatively valued at ₹7,727 crore in GDV, surpassing Keystone’s initial goal of ₹6,000 crore for the year.

• Fueling future ambitions: CMD Boman Irani mentioned the company's intention to reassess and possibly raise their annual targets after Q2, based on this strong momentum.

Why It Matters: Strategic Expansion in Redevelopment

Mumbai continues to be starved for fresh land. Keystone's focus on redevelopment—rather than greenfield development—enables quicker turnaround, lower upfront investment, and alignment with evolving urban policy thrusts. These projects reinforce the company’s positioning as a go-to partner for restructuring old housing clusters into vibrant new communities.

Broader Context: Keystone's Recent Wins

Here’s how these new projects fit into a larger growth story:

Project / Quarter	Location	GDV (₹ Cr)	Highlights
Q1 FY26 Expansion	Mumbai wide (3 parcels)	₹7,727 crore	Record pre-sales, bold redevelopment strategy
GTB Nagar	Sion–Koliwada	₹4,521 crore	Collaboration with MHADA; saleable area: 20.7 lakh sq ft; revamping obsolete buildings
Lokhandwala	Andheri West (cluster)	₹3,000 crore	Acquisition by 8 housing societies; saleable area: 10.6 lakh sq ft These earlier projects underscore Keystone’s growing clout in structured, high-value redevelopment.

Final Thoughts: Strategic Leadership in Urban Renewal

With Q1’s blockbuster results, Keystone Realtors is accelerating its mission—transforming older residential enclaves into modern, scalable housing solutions. The massive GDV, robust pre-sales, and aggressive project closures indicate strong execution and favorable market positioning.

It’s a powerful reminder: redevelopment is no longer a niche—it’s Keystone’s core strength and growth engine.