Keystone Realtors Ltd secured three Mumbai redevelopment projects. These projects have a revenue potential exceeding ₹7,700 crore. The company seeks more land for its housing business. This was stated by a top official.
Company Chairman Boman Irani noted strong performance. This occurred in the first quarter of the fiscal year. Key metrics included sales bookings and new project acquisitions. Keystone Realtors reported its highest-ever quarterly pre-sales. This reached ₹1,068 crore in April-June 2025-26. This marks a 75 percent increase from the prior year.
Irani mentioned adding three projects. Their estimated gross development value is ₹7,727 crore. This figure surpasses the fiscal year’s target. The company aims to add projects worth ₹6,000 crore.
Keystone is looking to buy more land. This is for building housing projects in the Mumbai region. The company will review its annual forecast after the second quarter. Keystone is a major player in housing society redevelopment. It also handles cluster redevelopment projects.
The company won a ₹4,521 crore project. This is for GTB Nagar Cluster at Sion. It also secured a ₹2,956 crore Lokhandwala Cluster project. Another ₹251 crore project is for Goregaon. These three projects offer 3.25 million square feet of saleable area.
Three projects launched in the June quarter. Their estimated value is nearly ₹4,000 crore. This is 57 percent of the fiscal year’s launch target. The target is ₹7,000 crore.
Financially, Keystone Realtors’ net profit dropped. It was ₹14.51 crore for the June quarter. This is a 44 percent decline. Net profit was ₹25.82 crore last year. Total income fell to ₹288.64 crore. It was ₹437.20 crore in the same period last year.
Irani explained the drop. Lower income affected revenue recognition. This was due to the project completion method. The company will now use a percentage of completion method. This will better show its financial results. Keystone Realtors sells under the Rustomjee brand. It is a leading real estate firm.