Rustomjee Wins Rs 45 Billion GTB Nagar Redevelopment

03 Jul 2025 CW Team

Keystone Realtors, the Mumbai-based developer behind the Rustomjee brand, has secured a Letter of Acceptance to overhaul GTB Nagar in Sion, Mumbai, in partnership with the Maharashtra Housing and Area Development Authority (MHADA). Occupying about 11.19 acre, the project will rehouse more than 1,400 families and unlock roughly 2.07 million sq ft of saleable area.

Keystone estimates the scheme’s gross development value at about Rs 45.21 billion, with free saleable space expected to generate over Rs 45 billion in revenue. The redevelopment underscores the company’s “community first” approach, transforming ageing stock into resilient neighbourhoods while working alongside public agencies.

Since its incorporation in 1995, Keystone Realtors has delivered over 26 million sq ft across 37 completed projects and is currently building 16 schemes. Its pipeline totals more than 40 million sq ft, reinforcing its standing as one of India’s leading real estate players.

Infrastructure Transport

11 May 2026

Shivraj Chouhan Launches PMGSY IV and Announces Package for Madhya Pradesh

Union Minister Shivraj Singh Chouhan launched the Pradhan Mantri Gram Sadak Yojana (PMGSY) IV at Bhairunda in Sehore district during the 25 year celebrations and announced a development package for Madhya Pradesh. The programme was organised by the Union Ministry of Rural Development and attended by Chief Minister Dr Mohan Yadav, ministers of state, state ministers, legislators and senior officials from the centre and the state. The minister said the central government under the Prime Minister is committed to strengthening rural livelihoods through improved connectivity, housing and women's in..

DMR Engineering Reports FY 25-26 Financial Results

DMR Engineering reported its half year results for the financial year ended 31 March 2026 and published full year figures on a standalone basis. Standalone revenue from operations decreased by 2.01 per cent year-over-year to Rs 102.58 million (mn), while profit after tax declined by 43.94 per cent to nine point five six mn, leaving a profit after tax margin of nine point zero five per cent. Earnings per share stood at Rs zero point nine two, a fall of 44.71 per cent year-over-year. The company attributed part of the decline to one-off provisioning for bad debts and additional financing charges..

Atlanta Electricals Posts Strong FY26 Growth And Debt Free Finish

Atlanta Electricals reported audited consolidated results for the quarter and year ended 31 March 2026. The company recorded significant year-on-year revenue growth driven by capacity ramp-up at new facilities and higher utilisation at legacy plants. The announcement summarised operating improvements and strategic milestones achieved during the year. For Q4 the company reported revenue of Rs 7.48 bn and for FY26 revenue of Rs 18.52 bn, representing robust growth versus the prior year. EBITDA in Q4 was Rs. 1.49 bn and Rs. 3.44 bn for the full year, with margins expanding to 20 per cent in the q..