Rustomjee Adds Rs 77 Billion Redevelopment Projects in Q1 FY26
Real Estate

Rustomjee Adds Rs 77 Billion Redevelopment Projects in Q1 FY26

Mumbai based Keystone Realtors Ltd (Rustomjee Group) strengthened its redevelopment pipeline in the June quarter by adding three Mumbai schemes—GTB Nagar, Lokhandwala Cluster and Swarganga CHSL. The trio contributes 3.25 million sq ft of saleable area with an estimated gross development value (GDV) of about Rs 77.3 billion, cementing the developer’s leadership in the city’s redevelopment market.
Operationally, the group launched three projects totalling 0.91 million sq ft and valued at roughly Rs 40.0 billion, already achieving 57 per cent of its full year FY26 launch target.
The strong pipeline was matched by record sales performance. Pre sales in Q1 FY26 rose 75 per cent year on year to Rs 10.7 billion, while collections advanced 19 per cent to Rs 5.8 billion.
Credit rating agency ICRA responded by upgrading Keystone’s long term rating to ‘ICRA A+’ (stable) and its short term rating to ‘ICRA A’ (positive), citing improved cash flow visibility and a healthier balance sheet.
Chairman and managing director Boman Irani said the robust first quarter showing “lays a strong foundation for FY26”. He added that Mumbai’s redevelopment opportunities remain a strategic focus and that the company has already surpassed its full year guidance for new additions, positioning it “confidently” to deliver sustained value for stakeholders.

Mumbai based Keystone Realtors Ltd (Rustomjee Group) strengthened its redevelopment pipeline in the June quarter by adding three Mumbai schemes—GTB Nagar, Lokhandwala Cluster and Swarganga CHSL. The trio contributes 3.25 million sq ft of saleable area with an estimated gross development value (GDV) of about Rs 77.3 billion, cementing the developer’s leadership in the city’s redevelopment market.Operationally, the group launched three projects totalling 0.91 million sq ft and valued at roughly Rs 40.0 billion, already achieving 57 per cent of its full year FY26 launch target.The strong pipeline was matched by record sales performance. Pre sales in Q1 FY26 rose 75 per cent year on year to Rs 10.7 billion, while collections advanced 19 per cent to Rs 5.8 billion.Credit rating agency ICRA responded by upgrading Keystone’s long term rating to ‘ICRA A+’ (stable) and its short term rating to ‘ICRA A’ (positive), citing improved cash flow visibility and a healthier balance sheet.Chairman and managing director Boman Irani said the robust first quarter showing “lays a strong foundation for FY26”. He added that Mumbai’s redevelopment opportunities remain a strategic focus and that the company has already surpassed its full year guidance for new additions, positioning it “confidently” to deliver sustained value for stakeholders.

Next Story
Products

TOTO India Launches Premium G & L Showers with Sleek Faucet Range

TOTO India has launched its G Shower and L Shower series, alongside an expanded range of GT, LH, and Pull-Out lavatory faucets. The collection blends advanced technology, refined aesthetics, and everyday comfort, staying true to TOTO’s philosophy of creating spaces that are both beautiful and functional. The G Shower series delivers the 3Rs of showering: Relaxing, Refreshing, and Revitalizing. Features include the Calming Shawl spray mode, Warm Spa technology, and multiple overhead and hand-shower options across eight finishes. The L Shower complements this with easy-to-use controls sui..

Next Story
Infrastructure Energy

Hero Future Energies Secures Funding for 120 MW Hybrid Project

Hero Future Energies (HFE), through its SPV Clean Renewable Energy Hybrid Three, has secured Rs 19.08 billion in funding from the State Bank of India (lead) and Canara Bank. The funds will be used to develop and construct HFE’s 120 MW renewable energy hybrid project at Kurnool, Andhra Pradesh. The project, contracted with SJVN, integrates wind, solar, and storage technologies to deliver reliable peak power. With a 21-year repayment period, the funding ensures timely execution and the commencement of commercial operations. The financial closure demonstrates continued lender confidence in..

Next Story
Infrastructure Energy

IOC GPS Renewables Raises Rs 8.36 billion Debt for Compressed Biogas Plants

IOC GPS Renewables Private Limited (IGRPL), a joint venture between IndianOil Corporation  and GPS Renewables, has raised Rs 8.36 billion (approx. US$ 95 million) in debt financing from Indian Bank to execute nine Compressed Biogas (CBG) projects across India.   The funding is the largest single-bank debt raise in the CBG sector and the first fully non-recourse financing in India for these projects. The plants—four in Haryana, three in Uttar Pradesh, one each in Chhattisgarh and Andhra Pradesh—will each produce 15 tonnes of CBG per day using paddy straw as feedstock. All nin..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?