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. ft. 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 during November, 2022 by raising Rs. 635 crore through Fresh Issue amounting to Rs. 560 crore and Offer for Sale amounting to Rs. 75 crore.