Keystone Realtors will step up investment on construction of residential projects this fiscal to Rs 800-900 crore as part of its strategy to ramp up execution capabilities.
Keystone Realtors, which sells its properties under Rustomjee brand, is one of the leading real estate developers in the country with a significant presence in the Mumbai Metropolitan Region (MMR).
In an interview with PTI, the company's CMD Boman Irani, who is also president of realtors' apex body CREDAI, said the company would invest a lot on construction and land purchases this fiscal to grow its business.
"We will be investing around Rs 800-900 crore on pure construction during this fiscal. We invested around Rs 400 crore in the last financial year," he said.
Irani said the company has a surplus liquidity of around Rs 3,000 crore to make investments for growth.
"We raised Rs 800 crore from Qualified institutional placement (QIP) plus our internal cash flow," he said.
Irani noted that the demand in the hous
