Updates

Keystone Realtors (Rustomjee) Q1 FY27 Financial Results: Net Profit Surges Over Threefold to ₹53 Crore, Revenue Up 72% YoY

Keystone Realtors' board approved Q1 FY27 unaudited financial results on August 4, 2026, reporting a sharp jump in profit and revenue driven by higher margins on newer projects.

CRISIL Assigns 'AA-/Stable' Rating to Keystone Realtors' Bank Loan Facilities, Reaffirms Rating on ₹335 Crore NCDs

CRISIL Ratings has assigned an 'AA-/Stable' rating to Keystone Realtors' (Rustomjee) bank loan facilities while reaffirming the same 'AA-/Stable' rating on the company's outstanding ₹335 crore non-convertible debentures.

Rustomjee Launches New Brand Campaign 'Thoughtfully Designed for Families' with Ogilvy India

Rustomjee unveiled a new brand campaign created with Ogilvy India that repositions the developer's messaging around family belonging and connection rather than status or square footage.

Keystone Realtors Announces Partial Redemption of NCDs, Reducing Face Value from ₹1,00,000 to ₹88,059.70

Keystone Realtors (Rustomjee) announced a partial redemption of its listed non-convertible debentures (NCDs), reducing their face value from ₹1,00,000 to ₹88,059.70 per NCD. The company filed the intimation with stock exchanges in compliance with SEBI Listing Regulations.

Rustomjee GTB Nagar (Sion Koliwada) Redevelopment Project Receives MahaRERA Registration No. P51800033893

Rustomjee's GTB Nagar redevelopment project in Sion Koliwada, Mumbai has obtained MahaRERA approval under registration number P51800033893. The project spans 11.19 acres and aims to rehabilitate over 1,400 families.

Keystone Realtors Board Approves Raising ₹375 Crore via Listed, Rated NCDs on Private Placement Basis

Keystone Realtors' board approved the issuance of ₹375 crore in fully paid-up, senior, secured, redeemable, listed, and rated non-convertible debentures (NCDs) on a private placement basis. The NCDs carry a face value of ₹1,00,000 each.

Rustomjee Acquires Plotted Development Land at Igatpuri — New BD Addition in Q1 FY27 with ₹713 Crore Combined GDV

Keystone Realtors (Rustomjee) added a new plotted development project in Igatpuri as part of its Q1 FY27 business development pipeline, disclosed via SEBI filing on July 10, 2026. The addition expands the brand's plotted development segment, which it first entered with Belle Vie at Kasara in 2024.

Rustomjee Adds Utkarsh CHSL Cluster Redevelopment at Dindoshi Nagar, Goregaon East — Part of Q1 FY27 BD Pipeline Worth ₹713 Crore GDV

Keystone Realtors (Rustomjee) added the Utkarsh CHSL cluster redevelopment project at Dindoshi Nagar, Goregaon East as a new business development addition in Q1 FY27. Together with a plotted development at Igatpuri, the two Q1 FY27 additions span 1.98 million sq ft of saleable area with a combined estimated GDV of ₹713 crore.

Rustomjee Launches '10% Now' Limited-Period Payment Plan Across Select MMR Projects

Rustomjee has introduced a limited-period payment plan allowing homebuyers to own a Rustomjee home by paying just 10% upfront, with the balance spread over time. The initiative targets first-time buyers, NRIs, UHNIs, and investors across select MMR projects.

Keystone Realtors (Rustomjee) Q1 FY27 Operational Update: Pre-Sales Fall 42% YoY to ₹617 Crore Amid Absence of New Launches; Two BD Additions Worth ₹713 Crore GDV

Keystone Realtors reported Q1 FY27 pre-sales of ₹617 crore, down 42% year-on-year, attributing the decline to the absence of new project launches during the April–June quarter. Collections rose 4% to ₹599 crore, and the company added two new projects with a combined GDV of ₹713 crore to its pipeline.

ICRA Upgrades Keystone Realtors (Rustomjee) Credit Rating to 'AA- (Stable Outlook)' from 'A+ (Stable Outlook)'

ICRA upgraded Keystone Realtors Limited's issuer and long-term credit rating to [ICRA]AA- with a Stable Outlook on July 7, 2026, citing strong sales growth, robust collections, and comfortable leverage metrics. This upgrade complements the company's existing CRISIL 'AA-/Stable' rating, giving it dual AA- ratings from both major agencies.

ICICI Direct Initiates Coverage on Keystone Realtors (Rustomjee) with 'Buy' Rating and ₹590 Target Price

ICICI Direct has initiated coverage on Keystone Realtors (Rustomjee) with a 'Buy' rating and a target price of ₹590, calling the company a key beneficiary of Mumbai's redevelopment boom. The brokerage highlights the developer's ₹66,683 crore overall project portfolio and ~₹55,000 crore unsold inventory pipeline.

Rustomjee Selected as Redevelopment Partner for Two Societies in Malad West — ₹1,200 Crore GDV

Keystone Realtors (Rustomjee) has been selected as the developer to redevelop Veena Nagar Co-operative Housing Society and NeelKamal Ghruh Cooperative Housing Society in Malad West, Mumbai, on a combined land of approximately 12,120 sq. metres with an estimated GDV of ₹1,200 crore. The project will rehouse 342 existing members and generate approximately 3,42,000 sq. ft. of RERA carpet area for sale.

Robb Report India Features Boman Rustom Irani in 'Masters of Luxury' Series on Mumbai's Luxury Residential Market

Robb Report India profiled Rustomjee Group Chairman and Managing Director Boman Rustom Irani in its 'Masters of Luxury' interview series, discussing Mumbai's luxury residential market, design philosophy, and technology in real estate.

Rustomjee Acquires ₹143.45 Crore Fungible FSI from Parth Construction to Expand Versova (Ocean Vista) Project

Keystone Realtors (Rustomjee) has acquired 8,800.74 sq m of fungible FSI worth ₹143.45 crore from Parth Construction's SRA project in Jogeshwari East, to be clubbed into its Versova, Andheri West residential project. The agreement was registered on June 17, 2026, with stamp duty of ₹8.6 crore paid by Rustomjee.

Marksmen Daily Features Rustomjee CMO Rushabh Shah in 'Leaders in Focus' Series on Real Estate Marketing Strategy

Marksmen Daily profiled Rustomjee Group's Chief Marketing Officer Rushabh Shah in its 'Leaders in Focus' series, discussing his approach to brand growth, demand generation and marketing strategy at the developer.

Rustomjee Partners with Rotary Club of Bombay Airport to Fund Kawale Check Dam Water Project in Palghar, Maharashtra

Rustomjee Group partnered with the Rotary Club of Bombay Airport to support the Kawale Check Dam project in Vikramgad Taluka, Palghar District, inaugurated on June 7, 2026. The initiative is expected to improve water security and agricultural productivity for approximately 1,800 farming families across 18 villages in a tribal belt of Maharashtra.

Boman Irani: Mumbai Redevelopment Opportunities Worth ₹1.30 Lakh Crore Expected by 2030

Rustomjee Group CMD Boman Irani said Mumbai's redevelopment market carries risks but remains highly attractive, with an estimated ₹1.30 lakh crore of redevelopment opportunity expected to emerge in the city by 2030.

Keystone Realtors (Rustomjee) Sets FY27 Pre-Sales Target of ₹5,000 Crore and ₹1,000 Crore Operating Cash Flow Goal

Following its Q4 FY26 earnings call (May 12–13, 2026), Keystone Realtors guided for FY27 pre-sales of ₹5,000 crore and a target of ₹1,000 crore in operating cash flow, alongside an aspiration to build ₹100 crore in annual lease/annuity income by 2030 through a commercial portfolio.

Keystone Realtors (Rustomjee) Declares Final Dividend of ₹1.50 per Share for FY26, Record Date May 23, 2026

Keystone Realtors' Board declared a final dividend of ₹1.50 per share for FY26 at its May 12, 2026 meeting, with the record date set as May 23, 2026. The last day to purchase shares under T+1 settlement was May 22, 2026.

Keystone Realtors (Rustomjee) Sets ₹10,000 Crore FY30 Pre-Sales Target; Plans Expansion into Pune, Nagpur and Nashik

At its May 12, 2026 board meeting, Keystone Realtors laid out a long-term roadmap targeting ₹10,000 crore in annual pre-sales by FY2029-30, anchored by three pillars: velocity (plotted development, senior living), scale (geographic expansion into Pune, Nashik and Nagpur targeting ₹2,000–2,500 crore by 2030), and stability (commercial real estate). The company also issued FY27 guidance of ₹5,000 crore in pre-sales.

Keystone Realtors (Rustomjee) FY26 Full-Year Financial Results: Revenue Up 31%, Pre-Sales Hit Record ₹4,022 Crore

Keystone Realtors (Rustomjee) reported FY26 full-year financial results on May 12, 2026. Revenue from operations rose 31.45% YoY to ₹2,634.54 crore, and FY26 pre-sales reached a record ₹4,022 crore (up 33% YoY), though full-year PAT declined 54% to ₹78.86 crore due to legacy project accounting.

CRISIL Assigns 'AA-/Stable' Rating to Keystone Realtors' ₹335 Crore NCDs

CRISIL Ratings assigned a 'CRISIL AA-/Stable' rating to the non-convertible debentures (NCDs) worth ₹335 crore issued by Keystone Realtors Limited (Rustomjee). The rating reflects the company's strong saleability in ongoing projects, planned new launches, and a healthy financial profile.

Keystone Realtors (Rustomjee) Appoints Salil Chinchore as Group CHRO, Effective April 16, 2026

Keystone Realtors Limited announced the appointment of Salil Chinchore as Group Chief Human Resources Officer (CHRO) and Senior Management Personnel, effective April 16, 2026. The appointment was disclosed via a regulatory filing with Indian stock exchanges.

Keystone Realtors (Rustomjee) President – Sales & Marketing Rakesh Setia Resigns, Effective April 13, 2026

Keystone Realtors disclosed to stock exchanges on April 14, 2026 that Rakesh Setia had ceased to be President – Sales and Marketing effective April 13, 2026, following a resignation submitted on January 27, 2026. The filing confirmed he was not related to any company directors.

Rustomjee Selected as Redevelopment Partner for Swarganga CHSL at Dindoshi Nagar Cluster, Goregaon East — Part of ₹10,420 Crore FY26 BD Pipeline

Keystone Realtors (Rustomjee) added Swarganga CHSL at Dindoshi Nagar Cluster in Goregaon East to its redevelopment portfolio in FY26, as confirmed in the company's Q4 FY26 operational filing with NSE. The project is one of five redevelopment additions in FY26 contributing to a combined GDV of ₹10,420 crore.

Keystone Realtors (Rustomjee) Q4 FY26 Operational Update: Record Quarterly Pre-Sales of ₹1,346 Crore, Up 58% YoY

Keystone Realtors filed its Q4 FY26 operational update with NSE on April 6, 2026, reporting its highest-ever quarterly pre-sales of ₹1,346 crore — a 58% year-on-year jump — alongside record quarterly collections of ₹853 crore. Full-year FY26 pre-sales reached ₹4,022 crore, up 33% YoY, surpassing annual guidance.

Rustomjee Adds 'The Homestead CHSL' to Lokhandwala Cluster Redevelopment, Expanding Andheri West Pipeline to ~₹3,900 Crore GDV

Keystone Realtors formally disclosed the addition of 'The Homestead CHSL' as a separate redevelopment agreement within its Lokhandwala Cluster in Andheri West, Mumbai. This expanded the cluster's total estimated GDV to approximately ₹3,900 crore, as confirmed in the Q4 FY26 operational update filed with NSE on April 6, 2026.

Rustomjee Launches Bandstand Cama (Bandra West) and Vista Bay (Sewri) in Q4 FY26, Combined GDV of ₹3,978 Crore

In Q4 FY26 (January–March 2026), Keystone Realtors launched two new premium projects: Bandstand Cama in Bandra West and Rustomjee Vista Bay in Sewri, together contributing a saleable area of 0.69 million sq ft and a combined estimated GDV of ₹3,978 crore.

Rustomjee Signs Development Agreement with MHADA for ₹4,521 Crore GTB Nagar Redevelopment in Sion

Keystone Realtors (Rustomjee) formally signed a Development Agreement and a Construction & Development Agreement with MHADA on March 6, 2026, for the redevelopment of GTB Nagar in Sion, Mumbai — a project spanning 11.54 acres with an estimated GDV of ₹4,521 crore.

Rustomjee Launches Cliff Tower — Ultra-Luxury Residences at Mount Mary, Bandra with ₹825 Crore GDV

Rustomjee Group announced the launch of Rustomjee Cliff Tower, an ultra-luxury low-density residential development at the highest point of the Mount Mary precinct in Bandra, Mumbai, carrying an estimated GDV of approximately ₹825 crore. The project offers a limited collection of 4 and 5 BHK residences with panoramic views of the Arabian Sea and the Mumbai skyline.

Keystone Realtors (Rustomjee) Q3 FY26 Results: Pre-Sales Up 23% YoY to ₹2,676 Crore; Net Profit Falls 78% on Lower Revenues

Keystone Realtors reported Q3 FY26 (quarter ended December 31, 2025) results on February 4, 2026. While nine-month pre-sales grew 23% YoY to ₹2,676 crore, quarterly net profit fell 78% to ₹3.38 crore due to sharply lower revenue recognition.

Keystone Realtors Appoints Pritam Chivukula as Project CEO – Commercial, Effective January 19, 2026

Keystone Realtors (Rustomjee) appointed Pritam Chivukula as Senior Management Personnel and Project CEO – Commercial, effective January 19, 2026. Chivukula brings over 27 years of experience across real estate development, banking, and private equity, and was previously co-founder of Tridhaatu Realty & Infra.

Rustomjee Signs Development Agreement for Om Nagar Cluster Redevelopment in Andheri East — ₹1,775 Crore GDV

Keystone Realtors (Rustomjee Group) was appointed as developer for the Om Nagar Co-operative Housing Society Federation redevelopment in Andheri East, Mumbai, with the Development Agreement formally registered on January 16, 2026. The project covers eight housing societies on approximately 20,570 sq. m. of land, will rehouse 637 families, and carries an estimated GDV of ₹1,775 crore.

Rustomjee Sewri (Vista Bay, Sewri West) Receives MahaRERA Registration, Valid from January 1, 2026

Rustomjee's Sewri residential project has received MahaRERA registration with validity commencing January 1, 2026 and running through January 31, 2031. The RERA certificate is hosted on Rustomjee's official domain.