Keystone Realtors to Launch ₹3,000 Crore Ultra-Luxury Project in Mumbai

• Ultra-luxury Bandra project with ₹3,000 crore revenue potential

• ₹4,000 crore sales booking target for FY26 remains on track

• Strong demand from both end-users and investors in MMR

Mumbai: Keystone Realtors, the Mumbai-based real estate developer behind the Rustomjee brand, is set to launch a super luxury residential project at Bandstand, Bandra, next month, with an estimated gross development value (GDV) of around ₹3,000 crore, according to a senior company executive.

Speaking to PTI, Chairman and Managing Director Boman Irani said the company remains highly optimistic about housing demand and is confident of achieving its ₹4,000 crore sales booking target for the current financial year.

The bullish outlook comes on the back of strong performance in the first half of FY26. Keystone Realtors reported sales worth ₹1,839 crore between April and September, marking a 40% year-on-year growth. The momentum, Irani said, reflects sustained demand in the Mumbai Metropolitan Region (MMR) from both homebuyers and investors.

Outlining the company’s launch pipeline, Irani said Keystone Realtors had earlier guided for ₹7,000 crore worth of new project launches this fiscal. Of this, four projects with a combined GDV of ₹4,916 crore have already been launched in the first half of the year. The company plans to roll out four additional projects worth ₹4,832 crore in the second half.

Alongside new launches, Keystone Realtors is stepping up investments to ensure timely project delivery. The company expects to spend around ₹950 crore on construction activities during the current fiscal year, a rise of nearly 15% over the ₹830 crore spent in FY25.

Commenting on market conditions, Irani said Mumbai’s housing market continues to benefit from strong economic growth, rising household wealth, and buoyant equity markets. A significant portion of surplus capital, he noted, is being channelled into residential real estate, which remains a preferred long-term investment option. He also expects lower home loan interest rates to further support housing demand in the coming months.

Keystone Realtors follows an asset-light business model and has built a strong presence in the redevelopment segment. To date, the company has delivered over 26 million square feet of real estate and handed over more than 17,000 homes to customers, cementing its position as a leading residential developer in Mumbai.