+
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.

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