+
Keystone Plans Rs 30bn Bandra Project, Bullish On Sales
Real Estate

Keystone Plans Rs 30bn Bandra Project, Bullish On Sales

Mumbai-based Keystone Realtors, which sells homes under the Rustomjee brand, plans to launch a super-luxury residential project at Bandstand in Bandra next month with a gross development value of about Rs 30 billion, according to Chairman and Managing Director Boman Irani. He said the company remains confident of achieving its sales bookings target of Rs 40 billion in the current financial year, supported by strong housing demand.

In an interview, Irani said Keystone Realtors recorded property sales worth Rs 18.39 billion in the first half of 2025–26, marking a 40 per cent year-on-year increase. The company had guided for project launches worth Rs 70 billion during the full financial year. Of this, four projects with a combined gross development value of Rs 49.16 billion were launched between April and September, while another four projects worth Rs 48.32 billion are planned in the second half.

Irani said the company expects to invest around Rs 9.5 billion this year in the construction of ongoing projects to ensure timely delivery. Pure construction expenditure is estimated to be about 15 per cent higher than the Rs 8.3 billion spent in 2024–25. Commenting on market conditions, he said housing demand in the Mumbai Metropolitan Region remains strong from both end-users and investors, driven by wealth creation from robust economic growth and buoyant equity markets.

He added that surplus capital is increasingly being channelled into residential real estate, which continues to be a preferred investment option, and that any reduction in home loan interest rates would further support demand. Keystone Realtors follows an asset-light model and is a major player in redevelopment-led housing projects. To date, the company has delivered over 26 million square feet of built-up area and handed over more than 17,000 apartments to customers.

Mumbai-based Keystone Realtors, which sells homes under the Rustomjee brand, plans to launch a super-luxury residential project at Bandstand in Bandra next month with a gross development value of about Rs 30 billion, according to Chairman and Managing Director Boman Irani. He said the company remains confident of achieving its sales bookings target of Rs 40 billion in the current financial year, supported by strong housing demand. In an interview, Irani said Keystone Realtors recorded property sales worth Rs 18.39 billion in the first half of 2025–26, marking a 40 per cent year-on-year increase. The company had guided for project launches worth Rs 70 billion during the full financial year. Of this, four projects with a combined gross development value of Rs 49.16 billion were launched between April and September, while another four projects worth Rs 48.32 billion are planned in the second half. Irani said the company expects to invest around Rs 9.5 billion this year in the construction of ongoing projects to ensure timely delivery. Pure construction expenditure is estimated to be about 15 per cent higher than the Rs 8.3 billion spent in 2024–25. Commenting on market conditions, he said housing demand in the Mumbai Metropolitan Region remains strong from both end-users and investors, driven by wealth creation from robust economic growth and buoyant equity markets. He added that surplus capital is increasingly being channelled into residential real estate, which continues to be a preferred investment option, and that any reduction in home loan interest rates would further support demand. Keystone Realtors follows an asset-light model and is a major player in redevelopment-led housing projects. To date, the company has delivered over 26 million square feet of built-up area and handed over more than 17,000 apartments to customers.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code