Rustomjee Posts 23% YTD Pre-Sales Growth in FY26; Achieves 67% of Full-Year Guidance by Q3

Mumbai, January 9, 2026 – Keystone Realtors Limited (RUSTOMJEE) reported a steady operational performance for the third quarter and year-to-date period of FY26, with strong traction in pre-sales, project launches, and redevelopment-led business development across the Mumbai Metropolitan Region.
The company recorded year-to-date pre-sales of ₹26.76 billion in FY26, marking a 23% growth over the corresponding period last year and achieving 67% of its full-year pre-sales guidance within the first nine months of the fiscal.

Operational Performance Overview​

Year-to-Date Performance (FY26 vs FY25)​

Quarterly Performance (Q3 FY26)​

While quarterly pre-sales and collections saw marginal moderation on a year-on-year basis, the cumulative year-to-date performance remained firmly positive, supported by strong demand and sustained execution.

Project Launches and Development Pipeline​

During Q3 FY26, the company launched one residential project with a saleable area of 0.55 million sq ft and an estimated gross development value of ₹9.19 billion. This took the total number of projects launched in FY26 to five, with a combined estimated GDV of ₹58.35 billion, translating into around 83% achievement of the full-year launch guidance.
On the business development front, Keystone Realtors added one redevelopment project in the Lokhandwala Cluster during the quarter, with an estimated GDV of ₹3.82 billion. For the year-to-date period, the company added four redevelopment projects aggregating 3.48 million sq ft of saleable area and an estimated GDV of ₹86.49 billion, surpassing its full-year FY26 business development guidance well ahead of schedule.

Project Completions and Balance Sheet Strength​

In the first nine months of FY26, the company completed three projects with a total development area of 1.98 million sq ft across Khar, Prabhadevi, and Kasara. The portfolio continues to remain focused on redevelopment-led opportunities, which form a core strategic pillar for sustained growth in Mumbai.
The company maintains strong credit quality, with ratings of A+ and stable to positive outlooks, reflecting prudent capital allocation and balance sheet discipline.

Management Commentary​

Commenting on the performance, Chairman and Managing Director Boman Irani said the company delivered robust operational momentum in Q3 FY26, supported by disciplined execution, strong redevelopment capabilities, and a healthy project pipeline. He added that redevelopment in Mumbai continues to offer significant long-term value creation opportunities and positions the company to sustain growth across acquisitions, launches, and completions through the remainder of the year.

About the Company​

Keystone Realtors Limited, operating under the Rustomjee brand, is a Mumbai-based real estate developer with a strong presence across residential, redevelopment, and mixed-use projects in the Mumbai Metropolitan Region. The company is listed on Indian stock exchanges and focuses on sustainable development, execution excellence, and long-term value creation through its redevelopment-led growth strategy.

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