Keystone Realtors Selected for Om Nagar Redevelopment Project

Keystone Realtors Limited has been selected as the developer for the redevelopment project of Om Nagar Co-operative Housing Society Federation Limited in Andheri (East), Mumbai. The project encompasses the redevelopment of eight housing societies on a combined land area of approximately 20,570 square meters. This information was disclosed to the Bombay Stock Exchange and the National Stock Exchange of India under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The redevelopment project does not fall under related party transactions, and there is no interest from the promoter or promoter group in the entity being redeveloped. The objective of the project is to redevelop the existing housing societies, and it aligns with the company’s business activities. No governmental or regulatory approvals are required for this redevelopment project, and there is no indicative time period for its completion.

There is no cash consideration, share swap, or any other form of consideration involved in this project. The cost of acquisition and the price at which shares are acquired are not applicable in this context. Additionally, there is no percentage of shareholding or control acquired, and no shares are being acquired as part of this redevelopment.

About Keystone Realtors Limited: The company is engaged in real estate development, focusing on residential and commercial projects. It operates under the brand name Rustomjee and is known for its involvement in various real estate projects across Mumbai. The company’s strategic priorities include expanding its portfolio through redevelopment projects and enhancing its presence in the real estate sector.