The move comes as the Mumbai-based real estate developer pursues an ambitious growth trajectory, backed by a healthy project pipeline and a strong presence in redevelopment.
Ahead of the announcement, Keystone Realtors’ shares closed 1.48% lower at ₹605 apiece on the NSE.Chairman and Managing Director Boman Rustom Irani had earlier told CNBC-TV18 that the company achieved more than 25% of its annual pre-sales guidance in the first quarter itself. “We’ve already locked in projects worth over ₹7,700 crore against our full-year guidance of ₹6,000 crore,” he said, noting that April–June FY26 also saw project launches worth nearly ₹4,000 crore.
Despite the healthy pre-sales momentum, the company reported a weaker financial performance in Q1. Net profit fell 44% year-on-year to ₹14.5 crore, compared with ₹26 crore a year earlier. Revenue slipped 35% to ₹273 crore, while EBITDA declined to ₹13.4 crore from ₹43.4 crore, with margins narrowing to 5% from 10%.
Irani, however, remains confident about market prospects, pointing to steady prices and strong demand across developers. “I don’t think we are anywhere near a worrisome situation,” he said. He also highlighted Keystone’s strength in redevelopment, where the company has delivered homes to over 2,000 families by managing projects directly without external intermediaries.
Looking ahead, Keystone Realtors is targeting a 33% increase in pre-sales to ₹4,000 crore in FY26, supported by a ₹7,000 crore launch pipeline. Over the past two and a half years, the developer has secured 22 projects across key Mumbai micro-markets—18 of which are redevelopment projects and 16 in the mid-market segment.
