Keystone Realtors Promoters to Offload 3.63% Stake via OFS on October 15-16, 2025

Keystone Realtors Limited , the company behind the Rustomjee brand, is set to witness a significant change in its shareholding structure as three of its promoters prepare to sell a portion of their stake through an Offer for Sale (OFS) mechanism.

OFS Details

The OFS, scheduled for October 15-16, 2025, will see the promoters offering up to 45,76,000 equity shares, representing 3.63% of the company's total equity share capital. The floor price for the offer has been set at ₹550.00 per share.

Here's a breakdown of the shares being offered by each promoter:

Promoter Name	Shares Offered
Boman Rustom Irani	Up to 22,88,000
Percy Sorabji Chowdhry	Up to 11,44,000
Chandresh Dinesh Mehta	Up to 11,44,000

Offer Structure and Timeline

The OFS will be conducted over two trading days:

October 15, 2025 (T day): Only non-retail investors can place bids.
October 16, 2025 (T+1 day): Open for retail investors and non-retail investors who choose to carry forward their unallotted bids from T day.

A minimum of 25% of the offer shares will be reserved for mutual funds and insurance companies, subject to valid bids at or above the floor price. Additionally, at least 10% of the offer shares will be reserved for retail investors.

Purpose of the OFS

The primary objective of this OFS is to achieve the minimum public shareholding requirements as mandated by regulatory authorities. This move aligns with the Securities and Exchange Board of India (SEBI) regulations, which require listed companies to maintain a minimum public shareholding of 25%.

Participation and Settlement

Non-institutional investors bidding in the non-retail category are required to deposit 100% of the bid value upfront. Retail investors can place bids at the cut-off price or enter a specific price bid. The settlement for non-retail investors will occur on T+1 day, while for retail investors, it will follow existing rules for secondary market transactions.

Market Impact

This OFS presents an opportunity for investors to acquire shares in Keystone Realtors, a prominent player in the real estate sector known for its Rustomjee brand. The outcome of this offer could potentially impact the company's stock price and liquidity in the short term.

Investors and market participants are advised to carefully consider the terms of the OFS and conduct their due diligence before participating. As always, it's crucial to be aware of the risks associated with equity investments and to make informed decisions based on individual financial goals and risk tolerance.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.02%	-0.87%	+0.44%	+16.36%	-13.90%	+9.98%

Keystone Realtors , a prominent player in the Mumbai real estate market, has demonstrated strong performance in the first half of the fiscal year, surpassing expectations and setting a solid foundation for the year ahead.

Launch Targets Exceeded

The company has achieved an impressive 70% of its full-year launches guidance within the first half of the fiscal year. This accelerated pace of project launches underscores Keystone Realtors' aggressive growth strategy and its ability to capitalize on market opportunities.

Q2 Performance Highlights

Keystone Realtors has reported steady growth in its key financial metrics for the second quarter:

Metric	Q2 Current Year	Q2 Previous Year	YoY Growth
Pre-sales	₹7.63 billion	₹7.00 billion	9%
Collections	₹6.01 billion	₹5.52 billion	9%

The 9% year-on-year growth in both pre-sales and collections indicates consistent and healthy demand for Keystone's properties.

H1 Cumulative Performance

The company's performance for the first half shows even more substantial growth:

Metric	H1 Current Year	H1 Previous Year	YoY Growth
Pre-sales	₹18.31 billion	₹13.11 billion	40%
Collections	₹11.77 billion	₹10.37 billion	13%

These figures demonstrate a significant acceleration in pre-sales, with a remarkable 40% year-on-year increase.

Project Launches and Business Development

During Q2, Keystone Realtors launched one project, "Thirty3.15" at Bandra West, with a saleable area of 0.21 million sq ft and an estimated Gross Development Value (GDV) of ₹9.49 billion. This brings the total number of projects launched in H1 to four, with a combined estimated GDV of ₹49.16 billion.

In terms of business development, the company added three redevelopment projects in H1:

"GTB Nagar" at Sion
"Lokhandwala Cluster" at Andheri West
"Swarganga CHSL" at Dindoshi Nagar Cluster, Goregaon East

These additions contribute a total saleable area of 3.25 million sq ft and an estimated GDV of ₹77.27 billion, surpassing the company's full-year business development guidance.

Management Commentary

Boman Irani, CMD of Keystone Realtors Limited, expressed satisfaction with the company's performance, stating, "As we successfully close the second quarter, I am delighted to share that our company continues to progress through a pivotal phase of growth and opportunity." He highlighted the company's strong position in the redevelopment segment within the Mumbai Metropolitan Region (MMR) and expressed confidence in maintaining growth momentum throughout the remainder of the year.

Keystone Realtors' robust performance in the first half, particularly in project launches and business development, positions the company well for sustained growth. With a strong balance sheet and strategic focus on redevelopment opportunities in Mumbai, the company appears poised to capitalize on the upcoming festive season demand and continue its trajectory of value creation for stakeholders.