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Keystone Realtors is gearing up to launch a super luxury residential project in Bandra, Mumbai, with a GDV of around INR 3,000 crore. The company has recorded property sales of INR 1,839 crore in the first half of the fiscal year, a 40 per cent increase annually, and aims to achieve INR 4,000 crore in bookings. Keystone plans four more project launches in the second half of the year, investing INR 950 crore in construction. Strong demand in MMR and reduced home loan rates are expected to support continued sales growth.
Keystone Realtors, a leading Mumbai-based real estate developer operating under the Rustomjee brand, is set to introduce a super luxury residential project in Bandstand, Bandra, next month. The upcoming development is expected to have a gross development value (GDV) of around INR 3,000 crore. Advertisement
The company, which has established a strong presence in Mumbai and other key markets, reported property sales of INR 1,839 crore in the first half of this fiscal year, marking a 40 per cent increase compared to the same period last year. Keystone Realtors Chairman and Managing Director, Boman Irani, expressed confidence that the firm will comfortably meet its sales bookings target of INR 4,000 crore for the fiscal year.
Earlier this fiscal year, Keystone launched four projects totaling a GDV of INR 4,916 crore. In the second half, the company plans to roll out four more projects worth INR 4,832 crore. To ensure timely completion of ongoing developments, Keystone is allocating approximately INR 950 crore toward construction this year, up 15 per cent from INR 830 crore spent in the previous fiscal year.
Irani highlighted that the housing demand in the Mumbai Metropolitan Region (MMR) continues to remain robust, driven by both end-users and investors. He pointed out that rising wealth, fueled by strong economic growth and buoyant stock markets, is increasingly being channeled into residential real estate, which remains a preferred investment option. He also noted that the recent reduction in home loan interest rates is expected to further boost sales.
Following an asset-light approach, Keystone Realtors has established itself as a strong player in redevelopment projects. The company has delivered over 26 million sq ft of residential space so far and handed over more than 17,000 apartments to customers.
Source PTI
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