Mumbai-based Keystone Realtors, which sells homes under the Rustomjee brand, plans to launch a super luxury residential project in Bandra next month with an estimated gross development value of about ₹3,000 crore, reflecting its strong confidence in sustained housing demand.

The company remains on track to achieve its sales bookings target of ₹4,000 crore in 2025–26, supported by robust end-user and investor interest in the Mumbai Metropolitan Region, PTI reported.

Keystone Realtors Chairman and Managing Director Boman Irani said the company has already sold properties worth ₹1,839 crore in the first half of 2025-26, up 40 per cent annually.

About new launches, Irani said the company is targeting to launch a super luxury residential project at Bandstand, Bandra, in Mumbai next month.

“The gross development value (GDV) of this upcoming project will be around ₹3,000 crore,” he said.

Irani said the company had given an annual guidance of launching ₹7,000 crore worth projects this fiscal year.

Keystone Realtors has already launched four projects during the April-September period of this fiscal year with a total GDV of ₹4,916 crore.

In the second half of this fiscal year, the company will launch four projects worth ₹4,832 crore.

Irani also noted that the company will invest about ₹950 crore during this fiscal year on construction of existing real estate projects to ensure timely delivery of properties.

The estimated expenditure on pure construction activities is 15 per cent higher than ₹830 crore in the 2024-25 fiscal year. Asked about the demand scenario, Irani said the housing demand remains strong in Mumbai Metropolitan Region (MMR) from end-users as well as investors.

He noted that a lot of wealth is getting created because of high economic growth and buoyancy in the stock markets.

The surplus wealth is getting deployed in residential properties, Irani said, adding that real estate is one of the preferred modes of investment.

Irani said the reduction in interest on home loans will also drive sales going forward.

Keystone Realtors, which follows asset light model, is a strong player in redevelopment housing project.

So far, the company has delivered more than 26 million sq ft area. It has handed over more than 17,000 apartments to customers.