Dedicated locality research platform
Enter your email address and you will receive
a link to reset your password
The esteemed Rustomjee Group, a listed real estate developer recognized as Keystone Realtors Ltd., is presently engaged in negotiations with landowners to forge JVs and embark on JD initiatives for upcoming projects situated in locales earmarked for the Mumbai-Ahmedabad Bullet Train Project. Boman Irani, the erudite Chairman and Managing Director of KRL, shared these strategic insights during the Q2FY24 earnings conference call earlier this month. Additionally, the company is strategically eyeing the MTHL, a pivotal infrastructure development connecting Mumbai and Navi Mumbai. The anticipated completion date for the bullet train project is slated for 2027, while the MTHL is poised to open its doors to the general public on December 25, 2023. In a sagacious move, KRL surmises that locales adjacent to substantial infrastructure projects will inevitably become fertile grounds for robust future cash flow. The company, therefore, is gearing up for a strategic launch of projects with a revenue potential of Rs 4,000 crore in the current fiscal year. During the conference call, Irani asserted the company's proactive stance, affirming that Rustomjee will perpetually maintain a keen eye on developmental opportunities in areas where significant infrastructure undertakings, such as the bullet train expansion, the Bombay Baroda (Mumbai-Vadodara) highway extension, or the MTHL, are in progress. Irani expounded, emphasizing the belief that these areas hold the promise of substantial future cash flow. The company is strategically positioning itself to enjoy the first-mover advantage in these locales as a distinguished developer. With a gross development value (GDV) amounting to Rs 38,000 crore, a substantial portion of which, approximately Rs 14,000–15,000 crore, stems from non-township projects and the remainder from townships, KRL showcases a robust financial standing. The visionary Irani also highlighted the company's steadfast commitment to its trajectory of launching projects worth Rs 4,000 crore in the ongoing financial year. As envisaged at the beginning of the year, KRL successfully launched two projects in Thane during this quarter, boasting a GDV of approximately Rs 1,348 crore. Irani affirms that the company will maintain its alignment with the commitment of launching at least one or two projects every quarter throughout the fiscal year. In the realm of focus, KRL remains unwavering in its dedication to the redevelopment of antiquated and dilapidated structures, asserting that this niche will continue to be their forte. The company is steadfast in its commitment to unveiling projects in the Mumbai Metropolitan Region for the foreseeable future before venturing into uncharted territories. Irani, in a retrospective nod to the company's IPO in November 2022, underscored the strategic positioning of 70 percent of the company's forthcoming supply in the residential real estate sector within the Rs 1–7 crore segment. This discerning approach is integral to KRL's deliberate growth in Thane and strategic expansion in areas where the company has established a formidable presence in the Mumbai Metropolitan Region.
Propscience is India’s dedicated property news portal. We cover the latest events, news, trends, deals, new launches and more.
All our services and tools are completely free of cost and available 24X7!
We use cookies to give you the best possible service while using our website, please click accept and carry on browsing if you're happy with this. For more information see our Privacy Policy.
Okay, Got it!This disclaimer ("Disclaimer") is applicable to the entire Site. Upon entering the Site it is recommended that you immediately read the Terms and Conditions and Privacy Policy listed therein. Your continued usage of this Site will indicate your unconditional acceptance of the said Terms and Conditions and Privacy Policy. You hereby agree that Propscience reserves the right to modify at any time, the Terms and Conditions and Privacy Policy governing this Site without prior notification. Your usage of the Site implies that you will be bound by any such modification. You agree and acknowledge that it is your responsibility to periodically visit the Site and stay updated with the Terms and Conditions and Privacy Policy of the Website.
The information contained in this Site has been provided by Propscience for information purposes only. This information does not constitute legal, professional or commercial advice. Communication, content and material within the Site may include photographs and conceptual representations of projects under development. All computer-generated images shown on the Site are only indicative of actual designs and are sourced from third party sites.
The information on this Site may contain certain technical inaccuracies and typographical errors. Any errors or omissions brought to the attention of Propscience will be corrected as soon as possible. The content of this Site is being constantly modified to meet the terms, stipulations and recommendations of the Real Estate Regulation Act, 2016 ("RERA") and rules made thereunder and may vary from the content available as of date. All content may be updated from time to time and may at times be out of date. Propscience accepts no responsibility for keeping the information in this website up to date or any liability whatsoever for any failure to do so.
While every care has been taken to ensure that the content is useful, reliable and accurate, all content and information on the Site is provided on an "as is" and "as available" basis. Propscience does not accept any responsibility or liability with regard to the content, accuracy, legality and reliability of the information provided herein, or, for any loss or damage caused arising directly or indirectly in connection with reliance on the use of such information. No information given under this Site creates a warranty or expands the scope of any warranty that cannot be disclaimed under applicable law.
This Site provides links to other websites owned by third parties. Any reference or mention to third party websites, projects or services is for purely informational purposes only. This information does not constitute either an endorsement or a recommendation. Propscience accepts no responsibility for the content, reliability and information provided on these third-party websites. Propscience will not be held liable for any personal information of data collected by these third parties or for any virus or destructive properties that may be present on these third-party sites.
Your use of the Site is solely at your own risk. You agree and acknowledge that you are solely responsible for any action you take based upon this content and that Propscience is not liable for the same. All details regarding a project/property provided on this Site are updated on the basis of information available from the respective developers/owners/promoters. All such information will not be construed as an advertisement. To find out more about a project / development, please register/contact us to visit the site you are interested in. All decisions taken by you in this regard will be taken independently and Propscience will not be liable for any such loss in connection with the same. This Site is for guidance only. Your use of this Site - including any suggestions set out in the Site and or any use of the resources available on this Site, do not create any professional - client relationship between you and Propscience. Propscience cannot accept you as a client until certain formalities and requirements are met.
We use cookies to give you the best possible service while using our website, please accept it and continue browsing if you're happy with this. For more information see our Privacy Policy