RUSTOMJEENSE22 May 2023

Keystone Realtors Limited has informed the Exchange about Investor Presentation

Keystone Realtors Limited

Date: May 22, 2023

The General Manager, Listing Department, BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001

The Vice President Listing Department, National Stock Exchange of India Limited “Exchange Planza”, Bandra Kurla Complex, Bandra East, Mumbai – 400 051

Scrip Code: 543669

Scrip Symbol: RUSTOMJEE

Dear Sir,

Sub: Investor Presentation

We enclose herewith Investor’s presentation on the audited Financial Results (Consolidated and Standalone) of the Company for the quarter and year ended March 31, 2023.

This is also being uploaded on the Company’s website at www.rustomjee.in.

You are requested to inform your members accordingly.

Yours faithfully, For Keystone Realtors Limited

Bimal K Nanda Company Secretary and Compliance Officer Membership No. ACS – 11578

K E Y S T O N E R E A L T O R S L I M I T E D

Registered Office : 702, NATRAJ, M. V. Road Junction, Western Express Highway, Andheri (East), Mumbai - 400 069.

Tel.: +91 22 6676 6888 | CIN : L45200MH1995PLC094208 | Website: www.rustomjee.com

K E Y S T O N E R E A L T O R S L I M I T E D

Q U A R T E R L Y U P D A T E

Q4FY23

TABLE OF CONTENTS

1 . C O M P A N Y O V E R V I E W - 3

2 . P E R F O R M A N C E H I G H L I G H T S - 1 2

3 . M A N A G E M E N T S T R U C T U R E - 2 8

1. COMPANY OVERVIEW

K E Y S T O N E R E A L T O R S L I M I T E D

AT A GLANCE

2 0 M I L L I O N S Q F T D E L I V E R E D

C A P A B I L I T I E S & E X P E R I E N C E

A S S E T L I G H T A P P R O A C H

C O N S U M E R S A T I S F A C T I O N

Prominent MMR Real Estate

Capability and experience in

Asset-light approach focused on

Continued focus on consumer

developer with 20+ Million Sq. Ft.

developing standalone buildings,

optimizing the upfront capital

satisfaction leading to a high level

delivered and a pipeline of 37+

gated communities and fully

expenditure; achieving better

of brand loyalty and engagement

Million Sq. Ft. of ongoing and

integrated townships. Greenfield &

return on equity and capital

forthcoming projects across all

brownfield developments /

employed. Investment in

price points catering to all

redevelopments by partnering with

acquisition of land only when it

segments of the population from

societies, land-owners and

meets return expectations

Affordable to Super Premium

developers for residential, retail &

commercial

K E Y S T O N E R E A L T O R S L I M I T E D

AT A GLANCE

E N D - T O - E N D P R O J E C T M A N A G E M E N T C A P A B I L I T I E S

S U S T A I N A B L E D E V E L O P M E N T

E X E C U T I O N T R A C K R E C O R D

E X P E R I E N C E D M A N A G E M E N T

End-to-end project capabilities

with in-house expertise across

Strong focus on sustainability in all our developments

Business Development,

Architecture, Approvals,

Construction Management,

Sales & Marketing and Property

Management Services

Proven expertise in executing

Experienced promoters and

management possessing multi-

decade experience in the real

estate business

greenfield, brownfield,

development/redevelopment

projects in residential &

commercial segments. Enviable

track record across all housing

segments - affordable, mid

mass, aspiration, premium and

super premium. Pioneer and

leading developer of large-

scale redevelopment in

Mumbai

K E Y S T O N E R E A L T O R S L I M I T E D

RUSTOMJEE JOURNEY

Launched Rustomjee Regency (450 Units)

Acquired first redevelopment project ‘La Solita’

Launched first township ‘Urbania, Thane’ (127 Acres)

US based Trinity Capital Invested in Urbania

Completed 1st phase of Urbania

Sun Apollo invested in our company

Sold 367 units in Global City in a single day

Sale of office space to SBI General in ‘Rustomjee Natraj’

Completed 5 msf+ of development

Completed 1st phase of Global City

Completed 10 msf+ of development

Launched ‘Elements’

Xander invested in our Urbania project

Completed ‘Elements’ & handed over the homes to 480 tenants in one shot

Completed 1st phase of Paramount

Launch of Crest, a facility management company

Sales launch Project Bella, Bhandup

Project Reserve, Dahisar

Completed OC received for Project Rustomjee Elements

Sales launch ‘Crown’ project

1998

2001

2006

2009

2012

2014

2017

2019

2021

1996

2000

2005

2008

2011

2013

2015

2018

2020

2022

Launched Rustomjee Residency (54 Units)

Undertook SRA Project ‘La Sonrisa’

Completed 1 msf + development

Launched first phase of our affordable township ‘Global City’ in Virar

Trinity Capital made a successful exit

Sun Apollo successfully exited their investment

Commenced vacation of tenants at ‘Rustomjee Seasons’ and ‘Paramount’

Completed 16 msf+ development

Xander made a successful exit

Successfully issued IPO

Tie up with IKEA

Acquisition of Crown and Forjette Project

Keppel land successfully invested into Urbania Project

Amongst Top 10 in terms of market capital among the listed realty companies in India

K E Y S T O N E R E A L T O R S L I M I T E D

RUSTOMJEE ECOSYSTEM

A real estate focused fund management company with SEBI approved Category II Alternative Investment Fund license, promoted by Rustomjee Group.

Rustomjee Academy for Global Careers

Rustomjee Academy for Global Careers (RAGC) the pioneers in Vocational Education in India and has trained over 1,00,000 students across 4 campuses across Dahanu, Thane, Bengaluru and Rishikesh Offers a dynamic platform for individuals to upskill and broaden their horizons

is one of

CREST – Property Management Services

Rustomjee Cambridge International School

Leading IGCSE school in Mumbai with 3 branches It has a holistic approach to education, which focuses on academic excellence, as well as the overall development of its students Special focus on physical, social, emotional, creativity, imagination and confidence development among the students

ê ê ê

Provides services post purchase of a residential and commercial assets CREST Service Portfolio includes: ê

Integrated Property Management Facility Management Staffing Solutions Leasing Services Project Management Consultancy Property Audit CAM Estimates and Budgeting

T E C H N O L O G Y A C R O S S P L A N N I N G , E X E C U T I O N ,

S A L E S & M A R K E T I N G

PROJECT PLANNING & EXECUTION

SALES & CUSTOMER EXPERIENCE

• Combined implementation of

ERP and BIM systems maximizes productivity and cost estimation.

• Automated and digitized invoice

settlement process boosts transparency between all stakeholders.

• Smart management measures

through detailed status monitoring of execution.

• Helps better understand customer preferences and expedite customer purchase decisions resulting in greater efficiency and reduced manpower costs.

• CRM platform supports automation

in marketing campaigns and personalized communications through intelligent chatbots.

RECENT DEVELOPMENTS

•

Automated and transparent system built- into execution flow: Reduced margin of error for contractors & vendors.

Vendor Management System launched for centralized procurement of Marketing Collaterals through SAP.

Virtual Assistant Chatbot: Integrated, AI-driven, self- learning virtual assistant.

ONGOING PROJECTS

TOWNSHIPS

1. Global City, Virar (W) (Affordable)

2. Urbania, Thane (W)* (Mid and Mass)

RESIDENTIAL PROJECTS

3. Crown, Prabhadevi* (Super Premium/Premium)

4. Bella, Bhandup (W)* (Mid and Mass)

5. Paramount, Khar (W) (Aspirational)

6. Erika, Bandra (E) (Mid and Mass)

7. Parishram, Bandra (W) (Super Premium/Premium)

8. Summit, Borivali (E) (Mid and Mass)

9. Yazarina III, Dadar Parsi Colony (Aspirational)

10. Ashiana, Juhu (Super Premium/Premium)

11. Sagar Darshan, Bandra (E) (Aspirational)

COMMERCIAL

12. Central Park, Andheri (E)

13. Eaze Zone, Goregaon (W)

*Note: 1) Urbania is JV project, our economic interest is 51%. 2) Crown is a DM Project, our DM Fees is the balance project surplus. 3) Bella is JV project, our economic interest is 58%. Category classification (by ticket size): Super Premium: > INR 150 mn, Premium: INR 70-150 mn, Aspirational: INR 30-70 mn, Mid & Mass: INR 10-30 mn, Affordable: <INR 10 mn

TOWNSHIPS

1. Global City, Virar (W) (Affordable)

2. Urbania, Thane (W)* (Mid and mass)

RESIDENTIAL PROJECTS

3. Garden Estate, Thane (W) (Mid and mass)

4. Charkop, Kandivali (W) (Mid and mass)*

5. Ozone (Phase II), Goregaon (W) (Affordable)

6. Dombivli (Affordable)

7. Dnyaneshwar Nagar, Sewri (Mid and Mass)

8. Ambedkar Nagar, Khar (W) (Aspirational)

9. Jyotirling, Goregaon (E)* (Mid and Mass)

10. MIG 64-Gandhinagar, Bandra (E) (Aspirational)

11. Cliff Tower, Bandra (W) (Super Premium /

Premium)

12. Bandstand, Bandra (W) (Super Premium /

Premium)

COMMERCIAL

13. Urbania Commercial

14. OB12 + 13, Bandra (E)

F O R T H C O M I N G P R O J E C T S

PLOTTED DEVELOPMENT

15. Khopoli (Affordable)

UNDER PLANNING

16. Naigaon

17. Manori

NEW ADDITIONS (FY23)

18. Jariwala Compound, Mahim (W)*

(Aspirational)

19. Sagar Tarang, Andheri (W)

(Super Premium / Premium)

20. Vivekanand CHSL, Bandra (E)

(Aspirational)

21. Kher Nagar, Bandra (E)

(Mid and Mass)

22. Basant Park, Chembur (Aspirational)

*Note: 1) Urbania is JV project, our economic interest is 51%. 2) Charkop is a JV Project, our economic Interest is 73%. 3) Jyotirling is a JV project, Our Economic interest is 33.33% 4) Jariwala is a DM project with DM fee of 17% of the project revenue + Incentive fee

GROWTH DRIVERS

LEVERAGE OUR LEADERSHIP POSITION IN THE IN MICRO MARKETS THAT WE OPERATE IN.

~36% Market share in Bandra (E) in terms of absorption (FY23)*

CONTINUE TO BUILD AN ASSET LIGHT BUSINESS MODEL.

Number of redevelopment projects added – 5 projects (1.3 million sq ft) (YTD FY23)

GROW OUR PRESENCE IN THE MID/MASS AND ASPIRATIONAL CATEGORY

85% of our new acquisitions in current FY (in terms of GDV) are from mid/mass and aspirational category

FOCUS ON GROWTH AREAS IN PROXIMITY OF UPCOMING INFRASTRUCTURE PROJECTS

Upcoming transportation infrastructure projects and the relaxation of CRZ norms that allow for development of more sea-facing properties

LEVERAGE TECHNOLOGY TO IMPROVE OPERATIONAL EFFICIENCY

Real time tracking of Procurement, billing, accounts, Project Management

* PropEquity data, Company

2. PERFORMANCE HIGHLIGHTS

PERFORMANCE SNAPSHOT : Q4 – FY23

K E Y S T O N E R E A L T O R S L I M I T E D

0 . 2 8 M N S Q . F T . A R E A S O L D

INR 4.7 BN

PRE-SALES VALUE

I N R 7 B N *

COLLECTIONS

0 . 2 8 M N S Q . F T .

COMPLETIONS

0 2 7 : 1 GROSS SECURED DEBT TO EQUITY

INR 1.8 BN

O C F

INR 3.4 BN

R E V E N U E

INR 1.1 BN

E B I T D A

INR 0.7 BN

P A T

*The collections have grown by 68% as compared to Q3FY23 (INR 4.2 bn) and 53% as compared to Q4FY22 (INR 4.6 bn)

PERFORMANCE SNAPSHOT : FY23

K E Y S T O N E R E A L T O R S L I M I T E D

1 . 0 3 M N S Q . F T . A R E A S O L D

INR 16 BN

PRE-SALES VALUE

INR 18.6 BN*

COLLECTIONS

GDV INR 34.3 BN

0 . 6 2 M N S Q . F T .

NEW PROJECTS-5

COMPLETIONS

INR 7.3 BN

RAISED PRE-IPO & IPO

0 2 7 : 1 GROSS SECURED DEBT TO EQUITY

INR 4.6 BN

O C F

INR 6.9 BN

R E V E N U E

INR 1.4 BN

E B I T D A

INR 0.8 BN

P A T

*The collections have grown by 36% as compared to FY22 after removing impact of one -off institutional pre-sales and collections thereof

D E T I

I L

S R O T L A E R

E N O T S Y E K

S T C E J O R P

D E T E L P M O C

3 2 0 2

H C R A M

T S 1 3

N O

S A

TOTAL SALEABLE

UNSOLD SALEABLE

NAME OF PROJECT

AREA

(MN SQ FT)

SOLD

RECEIVABLE

EST UNSOLD

INVENTORY

(INR BN)

BALANCE COST TO

COMPLETE* (INR BN)

SEASONS WING D#

ELEMENTS WING C

GLOBAL CITY PHASE 1#

GLOBAL CITY PHASE 2

URBANIA (Athena, Acura, Azziano BFIJ, Retail)

ELITA

TOTAL

0.34

0.14

3.95

0.50

0.96

0.28

6.17

*Represent hard cost (Land, Construction, FSI & Approval) *In addition, there is S&M, HR, Admin cost ~10% of Sales # OC received in FY23

0.16

0.04

0.03

0.54

5.26

1.15

1.54

0.43

0.07

0.13

0.18

0.12

0.16

0.09

0.06

0.99

0.06

0.01

0.36

0.09

0.94

0.14

8.18

1.80

D E T I

I L

S R O T L A E R

E N O T S Y E K

S T C E J O R P

G N

O G N O

3 2 0 2

H C R A M

T S 1 3

N O

S A

NAME OF PROJECT

NO. OF

PROJECTS

TOTAL SALEABLE

UNSOLD

SOLD

EST UNSOLD

AREA

SALEABLE

RECEIVABLE

INVENTORY

(MN SQ. FT.)

(MN SQ .FT.)

(INR BN)

BALANCE COST

TO COMPLETE*

(INR BN)

RESIDENTIAL (A)

SUPER PREMIUM/PREMIUM

ASPIRATIONAL

MID & MASS

AFFORDABLE

COMMERCIAL (B)

TOTAL (A+B)

4.66

1.25

21.50

30.44

25.52

1.57

0.17

2.41

0.51

0.28

4.94

0.42

8.77

18.63

11.24

0.09

0.54

0.20

0.05

1.30

0.84

10.54

1.35

2.61

7.71

1.49

0.06

0.71

2.26

11.16

0.86

0.21

21.56

31.15

25.73

*Represent hard cost (Land, Construction, FSI & Approval) *In addition, there is S&M, HR, Admin cost ~10% of Sales

D E T I

I L

S R O T L A E R

E N O T S Y E K

S T C E J O R P

G N

M O C H T R O F

3 2 0 2

H C R A M

T S 1 3

N O

S A

NAME OF PROJECT

NUMBER OF

PROJECTS

SALEABLE

AREA

(MN SQ .FT.)

COST TO

EST. GDV

COMPLETE*

(INR BN)

RESIDENTIAL (A)

22.89

288.62

174.03

SUPER

PREMIUM/PREMIUM

ASPIRATIONAL

MID & MASS

AFFORDABLE

COMMERCIAL (B)

0.60

1.47

9.47

11.35

31.16

16.50

43.13

25.49

152.06

97.99

62.27

34.05

4.97

62.41

41.99

TOTAL (A+B)

27.86

351.03

216.02

*Represent hard cost (Land, Construction, FSI & Approval) *In addition, there is S&M, HR, Admin cost ~10% of Sales

D E T I

I L

S R O T L A E R

E N O T S Y E K

E C N A M R O F R E P

E S I

W Y R O G E T A C

3 2 - Y F

CATEGORY

SUPER PREMIUM / PREMIUM

ASPIRATIONAL

MID & MASS

AFFORDABLE

COMMERCIAL

TOTAL

AREA SOLD (MN SQ.FT.)

AVERAGE REALISATION (INR)

FY23

FY22

% CHANGE

FY23

FY22

% CHANGE

0.13

0.47*

(73%)

34,205

28,842

19%

0.07

0.58

0.24

0.01

1.03

0.11

(31%)

30,061

29,832

0.66

0.23

(13%)

13,693

12,214

5,547

5,284

0.02

(41%)

18,274

16,482

12%

11%

1.49

(31%)

* FY22 includes 0.2 mn sq. ft. (~INR 6.31 bn) one-off institutional sales in the Super Premium / Premium Segment

D E T I

I L

S R O T L A E R

E N O T S Y E K

E C N A M R O F R E P

E S I

W Y R O G E T A C

)

D E U N

I T N O C

(

3 2 - Y F

CATEGORY

SUPER PREMIUM / PREMIUM

ASPIRATIONAL

MID & MASS

AFFORDABLE

COMMERCIAL

TOTAL

PRE-SALES (INR BN)

COLLECTIONS (INR BN)

FY23

FY22

% CHANGE

FY23

FY22

% CHANGE

13.42*

(58%)*

4.32

2.23

7.95

1.35

0.19

13.53*

3.20

8.15

1.22

0.30

16.04

26.39

(68%)

(30%)

(3%)

11%

(35%)

(39%)

5.67

4.78

6.43

1.46

0.28

1.84

3.81

0.95

0.36

18.62

20.38

*FY22 Pre-Sales include one off institutional sales of ~INR 6.31bn and corresponding Collections thereof Removing the one-off effect, Collections has increased by 36% (y-o-y)

160%

68%

54%

(21%)

(9%)

H I S T O R I C A L O P E R A T I O N A L P E R F O R M A N C E

L A S T 5 Q

K E Y S T O N E R E A L T O R S L I M I T E D

Pre-Sales (No. of units)

618

0.66

Sales (mn Sq.ft.)

225

272

260

269

0.29

0.27

0.28

0.20

Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23

Pre-Sales (INR bn)

10.43

Collections (INR bn)

6.99

4.55

4.33

4.73

2.44

4.57

4.03

4.16

3.44

Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23

D E T I

I L

S R O T L A E R

E N O T S Y E K

S E H C N U A L W E N

3 2

Y F

PROJECT

LAUNCH QUARTER

LOCATION

CATEGORY

NATURE OF DEVELOPMENT

SALEABLE AREA (MN SQ.. FT.)

EST GDV (INR BN)

RERA COMPLETION DATES

GLOBAL CITY - AVENUE L - WING JK

Q1 FY 23

VIRAR W AFFORDABLE

OWN LAND

LA FAMILIA - TOWER C

Q2 FY 23

THANE W

MID & MASS

JDA + JV

ASHIANA

Q4 FY 23

JUHU

SUPER PREMIUM / PREMIUM

SAGAR DARSHAN

Q4 FY 23 BANDRA (E) ASPIRATIONAL

SOCIETY REDEVELOPMENT

TOTAL

0.17

0.35

0.90

SEP 2024

4.55

JUNE 2027

0.04

1.60

FEB 2027

0.05

0.61

1.34

DEC 2026

8.39

D E T I

I L

S R O T L A E R

E N O T S Y E K

N O

I T I

D D A

T C E J O R P W E N

3 2 - Y F

PROJECT

LOCATION

CATEGORY

JARIWALA

MAHIM

ASPIRATIONAL

NATURE OF DEVELOPMENT

JOINT DEVELOPMENT

SALEABLE AREA (MN SQ. FT)

EST GDV (INR BN)

0.47

11.50

SAGAR TARANG

VERSOVA

SUPER PREMIUM/PREMIUM

SOCIETY REDEVELOPMENT

0.15

5.25

VIVEKANAND CHSL

BANDRA E

ASPIRATIONAL

KHER NAGAR BUILDING NO 31

BASANT PARK CHSL

BANDRA E

MID & MASS

CHEMBUR W

ASPIRATIONAL

SOCIETY REDEVELOPMENT

TOTAL:

0.08

2.20

0.12

2.80

0.45

1.28

12.50

34.25

D E T I

I L

S R O T L A E R

E N O T S Y E K

S W O L F

H S A C

Particulars (INR MN) Operating Activities Net Collections Receipts from DM / JV Projects Construction Cost Land and Approval Payments Employee and Admin Expenses Statutory Payments Net Cash Flow from Operating Activities (A) Investment Activities Investment in New Projects Inflow from Investment Activities Other Investments (FD & Mutual Fund) Net Cash Flow from Investment Activities (B) Financing Activities Debt Drawdown Proceeds from IPO (Net) Repayments Others Finance costs Net Cash Flow from Financing Activities (C) Net Cash Flows for the Period (A+B+C)

Q4 FY-23 Q3 FY-23 Q4 FY-22

FY 22-23

FY 21-22

3,424 52 (699) (624) (372) 3 1,783

(675) 12 (26) (688)

168 (121) (1,279) 7 (130) (1,354) (259)

2,621 80 (891) (185) (360) (169) 1,096

(567) 43 11 (512)

882 5,541 (4,242) - (159) 2,022 2,606

2,207 (10) (596) (364) (292) (141) 805

(414) 180 (191) (426)

1,478 - (781) 3 (194) 506 885

10,839 152 (3,152) (1,470) (1,351) (433) 4,585

(1,732) (451) (50) (2,233)

3,859 6,989 (9,586) (15) (824) 423 2,775

8,432 120 (1,983) (3,383) (1,057) (295) 1,833

(3,311) 2,242 (246) (1,315)

3,383 - (3,530) (1) (824) (972) (454) 23

D E T I

I L

S R O T L A E R

E N O T S Y E K

L & P

–

Y R A M M U S

L A

C N A N

I F

Consolidated Results (INR MN)

Q4 FY-23 Q3 FY-23 Q4 FY-22

FY22-23

FY21-22

Revenue from Ops Other Income Total Income EBITDA* PBT PAT Share of Profit / (Loss) from JVs /Assosciates PAT after Share of Profits PAT after Non controlling Interest PBT %

PAT after Non controlling Interest % EBITDA %

Adjusted EBITDA* #

Adjusted EBITDA %

3,444 133 3,576 1,102 863 652

740 768

24% 21%

31%

1,225 34%

* EBITDA and Adjusted EBITDA include Other income # Adjusted EBITDA is after grossing up of finance cost included in cost of sales

1,265 90 1,356 178 109 72

(14)

58 53

8% 4%

13%

448 33%

2,338 141 2,479 724 656 455

(55)

400 422

26% 17%

29%

1,182 48%

6,857 392 7,249 1,431 1,025 743

795 818

14% 11%

20%

2,203 30%

12,694 336 13,030 2,129 1,865 1,380

(22)

1,358 1,399

14% 11%

16%

4,298 33%

D E T I

I L

S R O T L A E R

E N O T S Y E K

Y R A M M U S

L A

C N A N

I F

T E E H S

E C N A L A B

As at March 31, 2023

As at March 31, 2022

Particulars

85 58 92 158 -

33 44 96 158 1

EQUITY AND LIABILITIES Equity Equity share capital Other equity Reserves and surplus Total equity attributable to owners of the parent Non-controlling interests

5,475

5,641

Total equity

Particulars (INR MN)

ASSETS Non-current assets Property, plant and equipment Right-of-use assets Investment properties Goodwill Other intangible assets Investments accounted for using the equity method Financial assets i. Investments ii. Other financial assets Current tax assets (net) Deferred tax assets (net) Other non-current assets

- 902 289 661 409 76

- 3 256 643 386 101

As at March 31, 2023

As at March 31, 2022

1,139

1,000

15,555 16,694 173

16,867

8,326 9,326 305

9,632

1,027 30 -

1,847 17 2,988

1,424 25 -

1,933 27 3,439

9,214 32

14,155 21

3,513

755 145 68 11,554 25,297 45,152

3,036

728 250 242 7,250 25,698 38,769

LIABILITIES Non-current liabilities Financial liabilities i. Borrowings ii. Lease liabilities iii. Trade payables a) Total outstanding dues of micro and small enterprises b) Total outstanding dues of creditors other than (iii)(a) above iv. Other financial liabilities Provisions Total non-current liabilities

Current liabilities Financial liabilities i. Borrowings ii. Lease liabilities iii. Trade payables a) Total outstanding dues of micro and small enterprises b) Total outstanding dues of creditors other than (iii)(a) above iv. Other financial liabilities Provisions Current tax liabilities (net) Other current liabilities Total current liabilities Total equity and liabilities

Total non-current assets

8,207

7,363

Current assets Inventories Financial assets i. Investments ii. Trade receivables

iii. Cash and cash equivalents

iv. Bank balances other than Cash and cash equivalents v. Loans vi. Other financial assets Other current assets

Total current assets Total assets

25,703

22,543

44 616

3,623

498

2,784 1,437 2,237

107 1,136

597

1,741

2,620 853 1,809

36,945 45,152

31,406 38,769

D E T I

I L

S R O T L A E R

E N O T S Y E K

Y R A M M U S

L A

C N A N

I F

T N E M E V O M

T B E D

Debt Movement (INR mn)

FY 22-23

FY 21-22

Gross Debt

Less: Cash and cash equivalents

Net Debt

Equity

Gross Debt to Equity ratio

Net Debt to Equity ratio

Debt in JV Co.- KRL share

4,515

4,326

189

16,867

0.27

0.01

669

7,725

2,515

5,210

9,632

0.80

0.54

499

During Q4FY23, ICRA has assigned a rating of “A-” with stable outlook to Keystone Realtors

K E Y S T O N E R E A L T O R S L I M I T E D

E S G

E N V I R O N M E N T

S O C I A L I N I T I A T I V E S

G O V E R N A N C E

•

E-waste and Hazardous waste management have been complied with at all project sites Engaging with our external stakeholders - value chain partners on ESG requirements Cascading EHS and sustainability policy across the organization Continuous monitoring of water withdrawal from various sources, consumption and recycling Ensuring regular compliance proactively and adapting and complying with new regulations (e.g. Environmental Acts)

•

Awarded A+ Grade by the Government of Maharashtra and title of the Best Vocational Training Provider by the UK India British Council & FICCI Rustomjee Educate a child initiative: Every time a family buys a Rustomjee home, a child is educated for an year (More than 1,000 children educated) Labour welfare compliance by contractors improved from 50% to 80% Awareness and training on Health and Safety at sites for employees and workers Zero fatalities and NIL high Consequence incidents (injury / illness) reported

Policies Implemented:

•

Anti bribery and anti corruption policy

EHS policy

Sustainability policy

Diversity and Inclusion

Information Security

3. MANAGEMENT STRUCTURE

EXPERIENCED PROMOTERS AND DIRECTORS

Boman Irani

CMD

26+ years of Real Estate

experience

Executive Director

26+ years of Real Estate

Experience

President of CREDAI – MCHI

Directs the redevelopment

President Elect - CREDAI

initiatives for the Group

Independent Directors

Chandresh Mehta

Percy Chowdhry

Executive Director

23+ years of Real Estate

Experience

Directs Sales, Marketing

and HR functions

Ramesh Tainwala

Rahul Divan

Seema Mohapatra

Non-Executive Independent

Non-Executive

Non-Executive Independent

Director

Independent Director

Director

Previously associated with

Founding partner of Rahul

Was associated with BBC

Samsonite International as CEO

Gautam Divan & Associates

World Service Trust India as a

trustee

SUP P O R TE D BY A P RO FE SSIO N AL MAN AGE M E N T T E AM

Sajal Gupta (Group CFO & Head Corporate Strategy) Previously associated with Otis Elevators and AMW Motors

Bimal Nanda (Group CS and Compliance Officer) Previously associated with Entertainment World Developers, Sahara

Venkatraman B. (Chief Operating Officer) Previously associated with K. Raheja Universal

Rakesh Setia (Chief sales Officer) Previously associated with Vodafone Idea

Anupam Verma (President & CEO - Kapstone Constructions) Previously associated with HUL

Mahesh Gera (Group Chief Human Resources Officer) Previously associated with Centum and Reliance Communications

Harsh Chandra (President & CEO – SRA) Previously associated with Hindustan Coca-Cola, Etisalat DB Telecom and Tata Teleservices

Manish Sawant (President – Liaisoning) Previously associated with Manish D Savant Architects

Atul Date (Chief of Planning & Architecture) Previously associated with RKW Developers

Binitha Dalal (Associate Vice President) Previously associated with Godrej Properties

Jennifer Sanjana (Project Head) Started her career with Keystone Group

Nilesh Nimbalkar (Associate Vice President) Previously associated with Gammon India

Sreedharan Veede (Vice President - Special Projects) Previously associated with Dheeraj Realty

Vineet Mehta (Vice President - Operations) Previously associated with DS Group

Manish Randev (Project CEO – Virar AH) Previously associated with Goodman Fielder (Wilmar)

Parag Saraiya (Project CEO) Previously associated with Eversmile Properties (Kalpatru)

Vishal Bafna (Project Group Head) Started his career with Keystone Group

S H A R E H O L D I N G P A T T E R N A S O F 3 1 S T M A R C H ' 2 3

K E Y S T O N E R E A L T O R S L I M I T E D

Promoter 86.70%

FPI 1.66%

Mutual Funds 2.38%

Insurance 1.59%

AIF 2.67%

Bodies Corporate 3.02%

Others 1.98%

FPIs Abu Dhabi Investment Authority Morgan Stanley India Societe Generale

Mutual Funds Tata Mutual Fund Aditya Birla Sun Life IDFC Emerging Businesses

AIF HDFC CAPITAL IIFL Special Opportunities Fund

Bodies Corporate Plutus Wealth Management LLP

Insurance SBI Life Insurance HDFC Life Insurance

K E Y S T O N E R E A L T O R S L I M I T E D

COMPLETED PROJECTS

Townships 1. Global City, Virar (W) Phase 1 2. Global City, Virar (W) Phase 2 3. Urbania, Thane (W)

Residential Projects 4. Elements Off Juhu Circle 5. Seasons, Bandra (E) 6. Meridian, Kandivali (W) 7. Elanza, Malad (W) 8. Elita, Andheri (W) 9. Paramount, Khar (W) 10. Ozone, Goregaon (W) 11. Oriana, Bandra (E) 12. Acres, Dahisar (W) 13. Adarsh, Malad (W) 14. Yazarina I, Dadar Parsi Colony 15. Ciroc, Juhu 16. Raag, Goregaon (E)

17. Shimmer, Juhu 18. 7 JVPD, Juhu 19. 9 JVPD, Juhu 20. Central Park, Andheri (E) 21. Buena Vista, Bandra (W) 22. La Sonrisa, Matunga (E) 23. La Solita, Bandra (W) 24. La Roche, Bandra (W) 25. Orva, Bandra (W) 26. Riviera, Malad (W) 27. Meadows, Mahim (E) 28. Gagan, Goregaon (E) 29. Pinnacle, Borivali (E)

Commercial 30. Sangam, Santracruz (W) 31. Natraj, Andheri (E) 32. Aspiree, Sion (E)

M M R R E A L E S T A T E I N D U S T R Y O V E R V I EW

K E Y S T O N E R E A L T O R S L I M I T E D

Strong Overall Absorptions

113

153

New Launches and Absorptions from New launches have been robust

130

110

FY22

FY23

New Launches (msf)

Absorption from New launches (msf)

Total Absorption (msf)

Inventory Overhang

March 22

March 23

Inventory Overhang (months)

FY22 FY23

MMR will continue to grow at high pace given the thrust on the infrastructure by the Govt – Metro Network, Costal roads, Trans Harbour Link, Bullet Train, Port development, Navi Mumbai Airport, etc

Source: PropEquity, CBRE

………. a huge headroom for growth in short to medium run

D I S C L A I M E R

Some of the statements in this presentation may be ‘forward-looking statements’ within the meaning of applicable laws and regulations. Actual results might differ substantially from those expressed or implied. Important developments that could affect the company’s operations include changes in the industry structure, significant changes in the political and economic environment in India and overseas, receipt of approvals, tax laws, duties, litigation and labor relations.

THANK YOU

KEYSTONE REALTORS LIMITED

702, Natraj, M.V. Road Junction, Western Express Highway, Andheri East, Mumbai – 400 069

Website: www.rustomjee.com

Investor Relations Contact:

Email: investor-relations@rustomjee.com Tel: 022 – 667 66 888

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