The shares of the famous company of Mumbai Real Estate Sector, Keston Realters Limited, saw a tremendous rise on Tuesday. The company’s shares jumped 10% and reached ₹ 657. This surge came when the company was selected by 8 Housing Society in Andheri West, Mumbai for a ₹ 3,000 crore redevelopment project. The special thing is that a day earlier, Keystone Realters also got a contract of more than ₹ 4,500 crore in GTB Nagar. In two days, the company has gained the responsibility of real estate work of about ₹ 7,500 crore.
Special things of Andheri West Project
Plot Size: 4.75 acres (equivalent to about 3 football ground)
Number of families: 548 redevelopment work of existing families
Sale area: 10.6 lakh sqft (equivalent to about 20 malls)
Project Value: ₹ 3,000 Crore (Company’s Estimated Earnings On Completion of the entire project)
Status: So far, an agreement has been reached with 5 societies, the remaining 3 has given the letter of Intent (Loi).
GTB Nagar Project: Big Deal of the first day
On July 1, Keystone Realters received a huge redevelopment project of ₹ 4,521 crore in GTB Nagar (Mumbai). It is one of the biggest projects for the company so far.
Plot Size: 11.19 acres
Beneficiary: 1,400+ Families
Sale area: 20.7 lakh sqft
Project Value: ₹ 4,521 Crore
The deal suggests that Keystone Realter is not only a reliable name in premium housing projects, but is also playing a leading role in socially sensitive redevelopment works.
What did the company’s chairman Boman Irani say?
Reacting to these deals, Boman Irani, chairman of Keston Realteers, said: “Redevelopment of cities is not just building buildings, but new beauty in people’s lives. To take this project by adding many societies together, taking this project, shows the trust of the people on the Rustomji brand. We are known for timely delivery and design quality.”
The 9th consecutive day in the stock market
The shares of Keston Realters have climbed for the ninth consecutive day. Has given a return of more than 22% in the last one month. The stock opened at ₹ 656.25 on Tuesday and touched the highest level of ₹ 697 a day. Till about 12 noon it was trading at ₹ 654.15, above 3.19%.
The trust of investors behind this fast, strong order book and the deep hold of the company in metro cities like Mumbai is considered to be the main reason.
What is the specialty of Keston Realters?
The company working under the brand name rustomjee has completed several high-end and mid-segment residential projects in Mumbai.
The company’s main focus is on the redevelopment model, in which new housing units are created by breaking old societies.
The company claims that it is known for timely delivery and transparency, which gives it the trust of both housing societies and investors.
