Keystone Realtors Limited has announced the allotment of equity shares under its employee stock option plan, marking another step in its employee incentive program. The company informed stock exchanges about this development through a regulatory filing under Regulation 30.

Share Allotment Details

The Stakeholders Relationship Committee of Keystone Realtors approved the allotment on December 11, 2025. The allotment comprises 8,242 equity shares issued under the Rustomjee Employee Stock Option Plan 2022 and as amended.

Share Characteristics

The newly allotted equity shares will rank pari-passu in all aspects with the existing equity shares of the company. This means the new shares will carry equal rights and privileges as the current shares, including voting rights and dividend entitlements.

Regulatory Compliance

The company has notified both BSE Limited and National Stock Exchange of India Limited about this share allotment. Keystone Realtors trades on BSE with scrip code 543669 and on NSE with the symbol RUSTOMJEE. The disclosure was made in compliance with regulatory requirements to keep exchanges informed about changes in share capital.

Keystone Realtors , operating under the Rustomjee brand, has reported robust growth in the first half of FY26, with presales reaching INR 1,839.00 crores, marking a 40% year-on-year increase. The company has already achieved 46% of its full-year presales guidance in just six months.

Strong Performance and Strategic Launches

Keystone Realtors achieved INR 772.00 crores in presales for Q2 FY26, contributing to the impressive half-yearly figure. The company launched one new project in Q2 with an estimated Gross Development Value (GDV) of INR 949.00 crores, bringing the total launches for H1 FY26 to four projects with a combined GDV of INR 4,916.00 crores.

Surpassing Business Development Targets

In a significant achievement, Keystone Realtors has already surpassed its full-year Business Development guidance for FY26. The company added three new redevelopment projects worth INR 7,727.00 crores in GDV during the first half of the fiscal year, showcasing its strong position in the redevelopment segment within the Mumbai Metropolitan Region (MMR).

Financial Highlights

The company maintained a strong liquidity position with a gross debt of INR 588.00 crores as of September 30, 2025, translating to a gross debt-to-equity ratio of 0.21:1. Notably, Keystone Realtors ended the quarter with a free cash flow of INR 935.00 crores and zero net debt.

Strategic Funding and Credit Rating Upgrade

Keystone Realtors successfully raised INR 335.00 crores through oversubscribed Non-Convertible Debentures (NCDs), demonstrating strong investor confidence. The company's credit rating was also enhanced to A+ with a Positive Outlook by India Ratings, reflecting its robust financial profile and disciplined approach to capital allocation.

Future Outlook

The company is well-positioned for future growth, with a focus on cluster redevelopment projects in Mumbai. Keystone Realtors has four large cluster projects in the pipeline, including developments in Lokhandwala, GTB Nagar, Dindoshi, and Malad West, with a combined GDV of approximately INR 11,550.00 crores.

Boman Irani, Chairman and Managing Director of Keystone Realtors, expressed confidence in the company's growth trajectory, stating, "We are very confident that the MMR continues to be a growing market. Even today, the kind of apartments that are being purchased are actually higher-value apartments."

With a strong project pipeline and a disciplined execution approach, Keystone Realtors appears well-equipped to capitalize on the growing demand in the Mumbai real estate market, particularly in the redevelopment segment.

Upcoming Launches

The company plans to launch projects in Sewri, Thane, and Bandstand in the second half of FY26, with an estimated combined GDV of around INR 5,000.00 crores. These launches are expected to further strengthen Keystone Realtors' market position and contribute to its growth momentum.

As the real estate sector in Mumbai continues to evolve, Keystone Realtors' focus on strategic locations and redevelopment projects positions it well to meet the changing demands of homebuyers in the region.