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

Rakesh Setia Resignation

Keystone Realtors Ltd announced the resignation of Mr. Rakesh Setia, President – Sales and Marketing, effective April 13, 2026. He ceased to be an SMP (Senior Management Personnel) of the Company following the transition.

The departure was due to professional reasons, with the resignation letter originally submitted on January 27, 2026. The company filed the regulatory disclosure on April 14, 2026, in compliance with SEBI listing regulations.

Timing and Context

The resignation comes during a period of strong sales growth for the Mumbai-based developer. For the fiscal year 2026, Keystone Realtors achieved pre-sales of ₹40.22 billion, a 33% increase year-on-year. In Q4, pre-sales rose 53% year-on-year to ₹1,346 crore, marking the company's strongest quarterly performance.

About Keystone Realtors

Rustomjee is a Mumbai-based real estate company founded by Boman Irani in 1995. The company was listed as Keystone Realtors on BSE and NSE. As of recent reporting, the Company has approximately 37 completed projects, 16 ongoing projects, and 28 forthcoming projects across the Mumbai Metropolitan Region.

Setia brought experience in various high-level positions in telecommunications, retail, and consumer goods industries, managing sales, marketing, and operations across diverse regions. As part of the top management team reporting to the Board, he demonstrated expertise in strategy development, product management, pricing, and building strong businesses.

SEBI Compliance

The announcement follows standard SEBI Regulation 30 (LODR) disclosure requirements for cessation of Senior Management Personnel. The filing confirmed he was not related to any company directors.