Keystone Realtors Ltd

History of Keystone Realtors Ltd

Keystone Realtors Limited was incorporated as Keystone Realtors Private Limited', in Mumbai, under Companies' Act, 1956 dated November 6, 1995. Name of the Company subsequently changed to Keystone Realtors Limited', upon conversion into a Public Company, pursuant to a Shareholders' Resolution dated April 28, 2022, and a fresh Certificate of Change of Name was issued on May 6, 2022 by RoC. The Company is one of the prominent real estate developers present in the micro markets. As of June 30, 2022, it had 32 completed projects, 12 ongoing projects and 21 forthcoming projects across the Mumbai Metropolitan Region (MMR) including, a comprehensive range of projects under the affordable categories, falling under the 'Rustomjee' brand. The Company has a diversified suite of projects across a wide range of price points, and a presence in several micro markets. It has experience in developing lifestyle projects, high value standalone buildings, gated communities and fully integrated townships, re-developments and stalled projects, which includes Rustomjee Elements, a large gated community in Upper Juhu, Mumbai; Rustomjee Paramount, a signature complex in Khar, Mumbai; Rustomjee Seasons, a 3.82 acres gated community in Bandra Annexe, Mumbai; Rustomjee Crown, a 5.75 acres land parcel for high-end development at Prabhadevi, South Mumbai, consisting of three high-rise towers. These projects include features for entertainment for the family, such as an approximately 150,000 sq. f ...t. Clubhouse at Virar Global City project, a 6.22 acres podium at Thane project, a 11.72 acres amusement park at Virar Global City project, Leon's World which is an interactive play space for children and adults at Rustomjee Urbania project. It consider gated communities as the future of living, and strive to create 'nurturing spaces' to deliver convenience, community and comfort to our customers. It place emphasis on understanding the demographic which cater to, their needs, traditions and lifestyles. As part of business model, the Company focused on entering into joint development agreements, redevelopment agreements with landowners or developers or societies, and slum rehabilitation projects, which requires lower upfront capital investment compared to direct acquisition of land parcels. With thorough experience, it has been able to institutionalize the development process, which includes managing the relationships with all stakeholders in the project. The Company has developed in-house competencies for every stage of the property development life cycle, commencing from business development, which involves identification of land parcels and the conceptualization of the development, to execution, comprising planning, designing and overseeing the construction activities, marketing and sales. In addition to in-house competencies, the Company also leverage the expertise of external specialists to match wide range of operations, such as architects, interior designers, landscaping experts, engineers and building services consultants for development and management of projects. For instance, it use 3-dimensional building information modelling (BIM) software for model-based construction which visualizes projects in pre-construction and allows for better coordination among in-house teams, contractors and external consultants for greater productivity and cost efficiency. It use solar panels in projects to generate electricity for common areas to reduce reliance on non-renewable sources of energy. In 1996, the Company launched its first residential project. In 1998, it launched Regency' Project in Dahisar. In 2000, it launched Adarsh/Rivera' Project in Malad. In 2001, it launched premium project 9 JVPD' on 10th Road, at Juhu. In 2004, the Company acquired abandoned projects namely, Project Raag', Meg' and Malhaar'. In 2006, it launched township tower Urbania' in Thane. In 2007, it launched the Slum Redevelopment Project Elita' in Andheri (West). It also launched Global City' township project in Virar. In 2009, the Company invested shares in Mausmi SA Investments LLC. In 2010, it launched Oriana' redevelopment project in Bandra (East). In 2011, it launched Elements' luxury gated community project in Juhu, Andheri. In 2013, it launched Seasons' redevelopment project in Bandra (East). In 2014, it launched a gated community project Paramount' in Khar. In 2018, the Company signed development management agreement for their project Crown' in Prabhadevi. In 2021, it acquired land located at Bandra (Bandstand). The Company came out with a Public Issue in November, 2022 by raising Rs. 635 Cr by issuing 11,737,521 equity shares having the face value of Rs 10, comprising a fresh issue of 10,351,201 equity shares amounting to Rs. 560 Cr and Offer for Sale of 1,386,320 equity shares amounting to Rs. 75 Cr. In FY 2022-23, Company launched MT K Resi Development Fund through the subsidiary, Mt. K Kapital. In 2024, the Company acquired 100% stake of Real Gem BuildTech Private Limited. Further, Company acquired 50% stake of SPV in Ajmera Luxe Realty Private Limited. The Company completed development of Yazarina (A), Summit, Crown (A) and (B), Urbania (L & D), and Central Park. Company launched its first plotted development at Kasara 'Belle Vue' in 2025.