Keystone Realtors Ltd.RUSTOMJEE₹633.95 +3.51%

Keystone Realtors Ltd., part of the Rustomjee Group and a leading Mumbai-based real estate developer, has been awarded the Letter of Acceptance (LOA) for the redevelopment of GTB Nagar in Sion, in collaboration with the Maharashtra Housing and Area Development Authority (MHADA).

The project spans a total plot area of approximately 11.19 acres (45,308 square meters) and is expected to unlock a saleable area of ~20.7 lakh sq. ft., with a projected Gross Development Value (GDV) of ₹4,521 crore.

Planned as one of Mumbai’s largest community-first urban renewal efforts, the redevelopment will benefit over 1,400 families, including 1,200 society members and 200 slum residents. The initiative is part of Rustomjee’s continued focus on transforming aging housing stock into modern, resilient neighbourhoods through public-private partnerships.

With this win, Rustomjee strengthens its presence in central Mumbai and reinforces its position as a key player in the redevelopment segment. The group has delivered over 26 million sq. ft. to date and has a pipeline exceeding 40 million sq. ft. across the Mumbai Metropolitan Region (MMR).

The GTB Nagar project adds to the company’s growing list of impactful urban renewal projects, aligning with its strategy of asset-light, community-focused development backed by deep execution expertise.

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Note: The stock price mentioned is as of 3:30 PM.

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CIN: U65990KA2021PTC146954.