Keystone Realtors Limited, a leading real estate developer in the Mumbai Metropolitan Region (MMR), has delivered a landmark Q1FY26, achieving three major milestones:
Pre-Sales: Rs10.68 billion, marking a 75% year-on-year growth
New Launches: 3 projects with a Gross Development Value (GDV) of Rs39.67 billion, achieving 57% of FY26 guidance
Project Additions: 3 new projects with a GDV of Rs77.27 billion, exceeding full-year guidance by 1.25x
The company also received a credit rating upgrade to ICRA A+ (from ICRA A), reflecting its strong liquidity and financial health.
Boman Irani, Chairman and Managing Director, Keystone Realtors Limited, said: “We are pleased to report a strong start to FY26, marked by three significant first-time milestones (highest quarterly ever): (a) Our highest-ever quarterly pre-sales of INR 10.68 billion and (b) Our highest-ever quarterly new launches worth INR 39.67 billion. Our pre-sales (INR 10.68 billion) is a 75% growth on the same quarter last year and collections (INR 5.75 billion) is a 19% growth on the same quarter last year. The 3rd milestone is the launch of three new projects during the quarter with a total GDV of INR 39.67 billion, twice the launch value recorded in the same period last year. This momentum is a clear reflection of the strength of our product portfolio and the resilience of our overall strategy. In line with our proactive approach to business development, we added three new projects in Q1FY26 (including two cluster redevelopment projects) with a combined GDV of INR 77.27 billion, which exceeds our entire FY26 business development guidance by more than 1.25x. This reinforces the success of our asset-light, capital-efficient model with a sharp focus on redevelopment within Mumbai MMR. As one of the most trusted names in this space, Rustomjee is uniquely positioned to unlock long-term value in a fast-evolving market. With a healthy balance sheet and strong capitalization, we remain well-equipped to pursue emerging opportunities and create sustainable value for all stakeholders. We are confident of carrying forward this momentum and delivering yet another year of strong and consistent growth.”
Operational Highlights for Q1FY26:
Collections: Rs5.75 billion
Operating Cash Flows: Rs1.18 billion
Revenue from Operations: Rs2.73 billion
EBITDA: Rs0.29 billion
PAT: Rs0.16 billion
Net Debt: NIL
With a sharp focus on redevelopment and an asset-light model, Keystone Realtors is poised to continue its leadership in the MMR real estate market.
