Keystone Jumps 5.94% After Winning ₹3,000 Crore Redevelopment Project in Andheri West

Mumbai, July 2, 2025 – Shares of Keystone Realtors Ltd (NSE: RUSTOMJEE) surged nearly 6% in early trade on Wednesday, following the company’s announcement that it has been chosen as the developer for a large-scale cluster redevelopment project in Mumbai’s Andheri West, with an estimated Gross Development Value (GDV) of ₹3,000 crore.

Stock Performance Snapshot

The stock featured among the Top 10 gainers today, reflecting investor optimism around the company’s expanding redevelopment footprint.

Strategic Deal Details

Keystone has signed Development Agreements (DA) with 5 housing societies and received Letters of Intent (LOIs) from 3 more for the redevelopment of a 4.75-acre cluster in the Lokhandwala area of Andheri West. The redevelopment will cover 548 existing members and unlock approximately 10.6 lakh sq. ft. of saleable area.

This project truly reflects what we stand for: creating scale, choosing the correct location, and delivering long-term value,” said Mr. Boman Irani, Chairman & Managing Director of Rustomjee. “Urban redevelopment isn’t just about buildings; it’s about breathing new life into communities. We’re proud that this partnership reinforces the growing confidence in Rustomjee’s vision and execution.”

Outlook

The project is set to bolster Keystone’s FY26 pipeline and aligns with its focus on strategic, high-potential clusters in Mumbai’s suburban markets. Investors responded positively to the news, pushing the stock near its upper circuit limit of ₹697.30.

Keystone Realtors Stock Performance

As of 10:31 AM IST, Keystone Realtors shares gained 3.79% on July 2, 2025, trading at ₹658. Keystone Realtors shares witnessed a 0.76% dip in the last year, 3.31% in the year-to-date, and 23.39% in the previous month.

About Keystone Realtors Ltd

Listed since November 24, 2022, Keystone Realtors Ltd, under the Rustomjee brand, is a prominent real estate player in the Mumbai Metropolitan Region (MMR). With 37 completed, 16 ongoing, and 26 upcoming projects, the company has delivered over 26 million sq. ft., focusing on both affordable and super-premium housing solutions. It operates with an asset-light model and is well-known for its timely project execution and community-centric redevelopment initiatives.

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