Keystone Realtors share price soars 10% after securing ₹3,000 crore redevelopment project

Keystone Realtors share price in focus today: Shares of Keystone Realtors, one of the leading Mumbai-based real estate developers, popped 10% in early morning trade on Wednesday, July 02, hitting a 6-month high of ₹697 apiece after the company secured another redevelopment project.

The company informed investors through an exchange filing today that it has been selected by 8 housing societies as the developer for the large-scale cluster redevelopment project in the highly sought-after residential neighborhood of Andheri West, Mumbai.

It said that a development agreement (DA) has already been executed with 5 societies, while LOIs have been received from the remaining 3 societies. The DA execution is expected over the next few days.

The project involves the redevelopment of a cluster of private housing societies located in Andheri’s vibrant residential hub, with a cumulative plot area of approximately 4.75 acres (19,229 square meters), encompassing 548 existing members.

The company expects the proposed redevelopment to unlock a saleable area of approximately 10.6 lakh square feet and generate a Gross Development Value (GDV) of ₹3,000 crore.

Meanwhile, on Tuesday, the company received the Letter of Acceptance (LOA) for the redevelopment of GTB Nagar in Sion, one of Mumbai’s most impactful urban transformation projects, being undertaken in collaboration with MHADA (Maharashtra Housing and Area Development Authority).

Spread across a plot area of approximately 11.19 acres (45,308 square meters), this large-scale redevelopment will benefit over 1,400 families and is expected to unlock a saleable area of approximately 2.07 million square feet, with an estimated gross development value (GDV) of ₹4,521 crore.

Keystone Realtors share price trend

The shares have been maintaining a strong winning run in the recent sessions as they have gained 25% from June 19 lows and are approaching their 52-week high of ₹801 apiece, recorded in November 2024.

Between September and February 2025, the shares underwent a significant correction, losing 30% of their value; however, the recent recovery has covered most of the losses. It ended last month in green with a rally of 13%.

Listed in November 2022, the shares are currently trading 22% higher than their IPO price of ₹541 apiece.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.