Realty developer Keystone Realtors Ltd, known for its Rustomjee brand, has reported steady momentum in Mumbai’s housing market, achieving ₹772 crore in pre-sales during the second quarter of FY26 a 10% year-on-year increase. The company’s robust performance highlights the sustained demand for quality residential spaces across the Mumbai Metropolitan Region (MMR), particularly in redevelopment-driven localities.
For the first half of the financial year, Keystone’s pre-sales rose 40% year-on-year to ₹1,839 crore, supported by strategic new launches and strong buyer sentiment. According to the company, it has already surpassed its annual project addition guidance by mid-year, signalling confidence in the city’s premium and mid-income housing segments.During H1 FY26, the developer launched four new projects with a gross development value (GDV) of ₹4,916 crore roughly 70% of its full-year target. Simultaneously, it added three new projects worth ₹7,727 crore in total GDV, surpassing its earlier projection of ₹6,000 crore for the year.
A senior company official said the proactive approach to land acquisition and redevelopment has strengthened Keystone’s growth outlook. Two of the newly added projects are cluster redevelopment ventures, reaffirming the Rustomjee brand’s deepening commitment to reviving older neighbourhoods and optimising scarce urban land.Industry experts suggest that redevelopment projects have become a central pillar of Mumbai’s urban housing renewal, creating modern, liveable, and safer homes while preserving existing community ties. “Self-contained redevelopment helps cities like Mumbai grow vertically without overburdening new land resources,” said a senior real estate analyst.
Financially, Keystone recorded ₹499 crore in operational revenue for Q2, with an operating profit of ₹37 crore and a net profit of ₹10 crore. The company maintained a healthy debt-to-equity ratio of 0.21 as of September-end, and net debt remained nil, reflecting disciplined capital management and sustained cash flow strength.Collections during the quarter stood at ₹669 crore, supported by stable construction progress and high conversion of bookings into billings. The firm’s operating cash flow reached ₹227 crore for the half year, reinforcing its liquidity buffer ahead of an active launch pipeline for FY26’s second half.
As the MMR real estate market continues to evolve, industry watchers note that Keystone’s trajectory aligns with the city’s broader push towards inclusive and sustainable urban renewal. By integrating redevelopment with responsible design and community-centric planning, developers like Keystone are helping Mumbai transition toward a more liveable and equitable housing future.
Mumbai Developer Keystone Realtors Posts ₹772 Crore Q2 Pre-Sales Adds ₹7,727-Crore Projects
