Keystone Realtors, a real estate company based out of the city of Mumbai and renowned for their super-luxury residential projects offered under the Rustomjee brand, is all set to enter the super-luxury segment with their upcoming super-luxury residential project in the city of Mumbai. It is to be launched in the coming month with a GDV of ₹3,000 crores. This upcoming project is currently under construction and represents their faith in the unabating demand for super-luxury properties in the MMR.
We continue to be positive on the growth outlook of the company and residential real estate demand, underpinned by increasing income levels, growing investor interest, and finally improving market sentiment, said Boman Irani, Chairman and Managing Director. He expressed confidence that the company would comfortably meet its sales booking target of ₹4,000 crore for the current financial year, in an interview with PTI
Keystone Realtors has already witnessed brisk sales in the first half of the 2025–26 fiscal year. The developer reported property sales valued at ₹1,839 crore between April and September, up 40 per cent over the corresponding period a year ago. The recent high show has given the needed fillip for the developer's ambitious growth plan in the second half of the fiscal year.
The company had earlier said that it would launch projects worth ₹7,000 crore during FY26. With four projects already introduced in the first half of the year, amounting to a GDV of ₹4,916 crore, Keystone is likely on course ahead to beat its launch targets. It plans to roll out another four projects with a combined GDV of ₹4,832 crore in the remaining months of the fiscal year.
Main attention is on Premium & Redevelopment Projects.
The proposed ultra-premium project is likely to be constructed at Bandstand in Bandra, which is one of the most preferred residential destinations in Mumbai. The plots are located along the seafacing plot, and the availability of lands is quite small. The buyers of such properties are from the premium category.
Keystone Realtors have been able to position themselves quite well in the redevelopment schemes in the housing sector, which has assumed even more important ramifications in land shortage areas like Mumbai. Keystone operates in an asset-light business model, which translates to the agility the company requires to expand its operations in a manner where land, which requires heavy expenditures on the balance sheet, does not form a constraint.
Keystone Realtors intends to spend close to ₹ 950 crore on construction activities in the current fiscal to complete and deliver its ongoing projects on time, about a 15 per cent increase over the estimated construction spend of ₹ 830 crore in FY25.
As Mr. Irani says here, timely delivery remains a top priority. This is especially so in premium and luxury housing, where the requirement for high buyer expectation is paramount. The ongoing investment of the company in construction manifests its concerns for quality execution and customer trust.
About the broader market scenario, he mentioned that housing demand has continued to be good for both end-users and investors in the Mumbai Metropolitan Region. This trend is on account of sustained wealth creation through steady economic growth and buoyant equity markets encouraging high-net-worth individuals to plow surplus funds into residential real estate.
Besides, anticipation of lower housing loan interest rates is likely to spur the demand further. In most cases, a decline in borrowing cost enhances affordability and boosts buyer confidence, especially for big-ticket purchases in the luxury segment.
The company has delivered upwards of 26 million square feet of real estate over different projects and handed over keys to more than 17,000 homes to clients over the years. This execution track record helped the company in credibility-related aspects in such a highly competitive market. With continued strong demand for premium housing and redeveloping sites across Mumbai, Keystone Realtors’ aims that their ultra-luxury pipeline can generate healthy interest.
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