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:

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:

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.

Keystone Realtors Limited , a prominent player in the real estate sector, has announced a significant addition to its leadership team. The company has appointed Mr. Chetan Deshpande as Senior Management Personnel (SMP) and Senior Personnel in the Human Resources department, effective October 1, 2025.

A Wealth of Experience

Mr. Deshpande brings over 25 years of HR leadership experience to Keystone Realtors. His diverse background spans multiple industries, including apparel, manufacturing, FMCG, technology, and pharmaceuticals. This extensive experience is expected to be a valuable asset to Keystone Realtors as it continues to grow and evolve in the competitive real estate market.

Educational Background

Chetan Deshpande's educational credentials are impressive. He holds a B.Tech in Mechanical Engineering from G.I.T Belgaum and an MBA in Human Resources from the prestigious Ross School of Business at the University of Michigan, USA. Additionally, he has completed the Leadership Excellence Program at Harvard Business School, further enhancing his management and leadership skills.

Professional Journey

Throughout his career, Mr. Deshpande has held key leadership positions in several renowned organizations:

• Texport Industries
• Genus Power
• Gabriel India
• Ferrero (APAC)
• Hewlett Packard
• Sanofi Aventis

In his most recent role as Chief Human Resources Officer (CHRO) at Texport Industries, Deshpande was responsible for overseeing HR operations for more than 13,000 employees across 13 manufacturing units and international offices in the US, Spain, and Hong Kong.

Global Expertise

Mr. Deshpande's experience extends beyond national boundaries. He has successfully led end-to-end people functions, organizational transformations, global HR operations, and large-scale change management initiatives across India, Europe, the US, and Asia. This global perspective is likely to be particularly valuable as Keystone Realtors navigates the complexities of the real estate industry.

Independence and Compliance

In line with regulatory requirements, Keystone Realtors has confirmed that Mr. Deshpande has no relationship with the company's directors, ensuring independence in his role as Senior Management Personnel.

The appointment of Chetan Deshpande underscores Keystone Realtors' commitment to strengthening its leadership team with experienced professionals. As the company continues to expand its operations, Mr. Deshpande's extensive HR experience and global perspective are expected to play a crucial role in shaping the company's human resource strategies and supporting its growth objectives.