RUSTOMJEENSE11 February 2025

Keystone Realtors Limited has informed the Exchange about Investor Presentation

Keystone Realtors Limited

Date: February 11, 2025

The General Manager, Listing Department, BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001 Scrip Code: 543669

Sub: Investor Presentation

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

We enclose herewith Investor’s presentation on the Unaudited Financial Results – Limited Reviewed for the quarter and nine month ended December 31, 2024.

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 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 - 400069.

Tel.:+912266766888 | CIN:L45200MH1995PLC094208| Website:www.rustomjee.com

Quarterly Update

K e ys t o n e R e a l t o r s L i m i t e d

RUSTOMJEE CROWN | SHOT AT LOCATION

Table of Contents

Company Overview

Performance Highlights

Know more about the www.rust o m je e. c o m

Management Structure

ARTIST’S IMPRESSION

Company Overview

A Snapshot of Rustomjee

Our Journey over two decades

Our Ecosystem

Technology in Planning, Execution, Sales & Marketing

Ongoing & Forthcoming Projects

Project Pipeline

Growth Drivers

/ / Q u a r t e r l y U p d a t e Q 3 F Y 2 5

10,11

Actual views from the Rustomjee Ocean Vista superimposed.

K e ys t o n e R e a l t o r s L i m i t e d

A Snapshot RUSTOMJEE - Leading Developer in MMR

Company Overview Performance Highlights Management Structure

Recent Accolades and Industry recognition awards 2024-25 India’s Top Builders 2024 in the National Category CWAB Awards 2024

Maharashtra State's Best Employer Award 19th Employer Brand Awards 2024

Ultra luxury project of the year - Rustomjee Ocean Vista Realty+ Excellence Awards 2024

Skyscraper of the year - Rustomjee Crown Realty+ Excellence Awards 2024

Transformation Excellence Award: Bandra East (Keystone Realtors) Times Redevelopment Awards 2024

India’s Most Desired Real Estate - Residential Brand 2024 (1st position in the Residential (Real Estate) Brand category across 1,000 brands in 34 categories and 16 cities) TRA Research Awards 2024

IMAGE IS FOR REPRESENTATIONAL PURPOSES ONLY

MMR Focused

Prominent Redevelopment Player

Asset Light Model

28+ Years of existence

25+ msf Construction Area developed

44+ msf Construction Area in pipeline

2 Mega Townships

300+ Completed Buildings

17,000+ Homes Delivered

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K e y s t o n e R e a l t o r s L i m i t e d

A Snapshot (Contd.)

Company Overview Performance Highlights Management Structure

25+ Million Sq. Ft. delivered

Prominent MMR Real Estate developer with 25+ Million Sq. Ft. construction area delivered and a pipeline of 44+ Million Sq. Ft. construction area of ongoing and forthcoming projects across all price points catering to all segments of the population from Affordable to Super Premium

Asset Light Approach

Asset-light approach focused on optimizing the upfront capital expenditure; achieving better return on equity and capital employed. Investment in acquisition of land only when it meets return expectations

Capabilities and Experience

integrated

Capability and experience in developing standalone buildings, gated communities and fully townships. Greenfield & brownfield developments / redevelopments by partnering with societies, land-owners and developers for residential, retail & commercial

Consumer Satisfaction

Continued focus on consumer satisfaction leading to a high level of brand loyalty and engagement

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K e y s t o n e R e a l t o r s L i m i t e d

RUSTOMJEE ELEMENTS | SHOT AT LOCATION

A Snapshot (Contd.)

Company Overview Performance Highlights Management Structure

End to End Project Management Capabilities

across

End-to-end project capabilities with in-house Business Development, expertise Architecture, Construction Approvals, Management, Sales & Marketing and Property Management Services

Experienced Management

Experienced promoters possessing multi-decade experience real estate business

and management in the

Sustainable Development

Strong developments

focus on sustainability

in all our

Execution Track Record

RUSTOMJEE ELEMENTS | SHOT AT LOCATION

in executing greenfield, Proven expertise brownfield, development/redevelopment projects in residential & commercial segments. Enviable record across all housing segments - affordable, mid mass, aspiration, premium and super premium. Pioneer and leading large-scale redevelopment in Mumbai

developer

track

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K e y s t o n e R e a l t o r s L i m i t e d

RUSTOMJEE SEASONS | SHOT AT LOCATION

Our Journey over Two Decades

Company Overview Performance Highlights Management Structure

• La unc he d

its first re sid e ntia l Developme nt

• Launched the Development ‘ Ad a rsh/Rive ra ’ in M a l a d

• Launched the

township tower ‘Urbania’ in Thane

• Mausmi SA Investments LLC

made an investment in Keystone

• Trinity Capital (Fifteen) Limited invested in Enigma Constructions Private Limited, Rustomjee Construction Private Limited and Kapstone Constructions Private Limited’

• Launched the

re d e ve lo p me nt ‘Seasons’ in Bandra East

• Entered into a

development management agreement for the development ‘Crown’ in Prabhadevi

• Acquired land located at Bandra (Ba nd sta nd )

IPO Listing

• Sales launch

Cleon, La Vie (A,B &C)

• Developmen

t c o mp le te d Yazarina (A), Summit, Crown (A), Urbania (L & D), Central Park

1996

1998

2000

2001

2006

2007

2009

2010

2011

2013

2014

2018

2020

2021

2022

2023

2024

• Launched the ‘Regency’ Development in Dahisar

• Launched premium Development JVPD’ road Juhu

‘9 10th

• Launched

slum

redevelopment ‘Elita’ West.

in Andheri

• Launched township Development ‘Global City’ in Virar.

• Launche d the re d e ve lo pment ‘Oriana’ in Bandra East

• Launched the luxury gated community Development ‘Elements’ in Juhu/Andheri

• Launched the gated

community Development ‘Paramount’ in Khar

• Giza Holdings PTE

Limited and Voldemort Investment Holding Company Limited (an entity advised by Xander Investment Management Pte. Ltd.) invested in Kapstone Constructions Private Limited

•

Investment by Lipalton Pte. Ltd (a wholly owned subsidiary of Keppel Land Limited) as its strategic partner in Kapstone Constructions Private Limited

QIP Raised

• Partnered with strategic investors such as HDFC Capital Affordable Real Estate Fund – 3, IIFL Sp e c ia l Opportunities Fund - Series 9 and IIFL Special Opportunities Fund - Se rie s 10, Dreamz Dwellers LLP

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K e y s t o n e R e a l t o r s L i m i t e d

Our Ecosystem

Company Overview Performance Highlights Management Structure

Mt. K Kapital Category II – AIF1

CREST – Property Management Services2

Fifth Wall Designs3

• Mt. K Kapital is a real estate focused fund management company, having SEBI approved Category II Alternative Investment Fund license.

•

Its first fund, MT K Resi Development Fund is an ESG impact fund with a focus of developing residential real estate in MMR.

The Fund is backed by State Bank of India and Famy Group as anchor investor

•

Provides services post purchase of a residential and commercial assets.

• Crest provides integrated property management

services including:

Facility Management Staffing Solutions Leasing Services

• • • • Development Management Consultancy • CAM Estimates and Budgeting

RUSTOMJEE SEASONS | SHOT AT LOCATION

•

Provides interior design services to residential clients.

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K e y s t o n e R e a l t o r s L i m i t e d

Technology in Planning, Execution, Sales & Marketing

Company Overview Performance Highlights Management Structure

Project planning & Execution

Sales & Customer Experience

Recent Developments

IMAGE IS FOR REPRESENTATIONAL PURPOSES ONLY

• Combined

of ERP and BIM maximizes productivity cost estimation.

implementation systems and

and

• Automated digitized invoice process settlement boosts transparency between all stakeholders.

• Smart management measures status

through monitoring of execution.

detailed

• Helps

better

preferences

understand and customer expedite customer purchase decisions resulting in greater reduced and efficiency manpower costs.

• CRM

platform

supports in marketing automation campaigns and personalized communications through intelligent chatbots.

• Automated

and

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

• Vendor Management System centralized for of Marketing

launched procurement Collaterals through SAP.

• Virtual

Assistant

Integrated, self-learning virtual assistant.

Chatbot: AI-driven,

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K e y s t o n e R e a l t o r s L i m i t e d

Ongoing Projects

Townships 1. Global City (K Wing, Retail), Virar (W) (Affordable) 2. La Vie, La Familia , Verdant Vistas A Wing, Verdant Vistas B Wing - Urbania, Thane (W)* (Mid and Mass) (A JV with Keppel Land of Singapore)

Residential Projects 3. Crown- C, Prabhadevi (Super Premium/Premium) 4. Bella (A&B), Bhandup (W)*# (Mid and Mass) 5. Paramount, Khar (W) (Aspirational) 6. Parishram, Pali Hill, (Super Premium/Premium) 7. Ashiana, Juhu (Super Premium/Premium) 8. Aden, Bandra (E) (Aspirational) 9. Cleon, Bandra (E) (Mid and Mass) 10. Stella, Bandra (E) (Mid and Mass) 11. Panorama, Pali Hill ** (Super Premium/Premium) 12. 180 Bayview (Jariwala), Matunga West * (Aspirational) 13. Ocean Vista (Sagar Tarang), Versova,** (Super Premium / Premium) Commercial 14. Eaze Zone, Goregaon (W)

Plotted Development 15. Belle Vie, Kasara (Affordable)

#Part OC received for Bella Wing C & D;

*Note: 1) Urbania, our economic interest is 51%. 2) Bella, our economic interest is 58%. 3) 180 Bayview (Jariwala) is a project with DM fee of 17% of the project revenue + Incentive fee. Category classification (by ticket size): Super Premium: > INR 150 mn, Premium: ₹70-150 Mn, Aspirational: ₹30-70 Mn, Mid & Mass: ₹10-30 Mn, Affordable: <₹10 Mn **Note: Project having investment from Mt K Kapital

V i r a r

Company Overview Performance Highlights Management Structure

B o r i v a l i

T h a n e

B a n d r a ( W )

C h e m b u r

N a v i M u m b a i

P r a b h a d e v i

C h u r c h g a t e

1 0

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K e y s t o n e R e a l t o r s L i m i t e d

Forthcoming Projects

Townships 1. Global City, Virar (W) (Affordable) 2. Urbania, Thane (W)* (Mid and Mass) (A JV with Keppel Land of Singapore)

Residential Projects 3. Charkop, Kandivali (W)* (Mid and Mass) 4. Ozone (Phase II), Goregaon (W) (Affordable) 5. Dombivli (Affordable) 6. Dnyaneshwar Nagar, Sewri (Mid and Mass) 7. Ambedkar Nagar, Khar (W) (Aspirational) 8. Jyotirling, Goregaon (E)* (Mid and Mass) 9. Cliff Tower, Bandra (W)** (Super Premium / Premium) 10. Bandstand, Bandra (W) (Super Premium / Premium) 11. Vivekanand CHSL, Bandra (E) (Aspirational) 12. Basant Park, Chembur (Aspirational) 13. Dhuruvadi, Prabhadevi (Aspirational) 14. Majithia Nagar, Kandivali (W) (Mid and Mass) 15. Crescent Apartments, Pali Hill ** (Super premium/Premium) 16. Haren Textiles, Dahisar E (Mid and Mass) 17. Veenanagar /NeelKamal /Mansarowar/ Nirman CHSL, Malad W (Mid and Mass) 18. Garden Estate, Thane (W) (Mid and Mass) 19. New JV, Goregaon E* (Mid & Mass)

Commercial 20. Urbania Commercial 21. OB12 + 13, Bandra (E) 22. New Kamal Kunj, Bandra (W)

Plotted Development 23. Manori*

Under planning 24. Naigaon

New Additions (FY25) 25. Avinash Towers, Versova (Aspirational) 26. Satsang, Sahyog, Shri Krishna CHSL, Anand, Gulmohar, Shri Hari, Prathamesh CHSL, Goregaon (E) (Mid and Mass)

▪

Belle Vie is Added in Q2FY25 which is already launched and hence forming part of Ongoing Project

▪ Mansarowar Added in Q2FY25 and Nirman Added in Q3FY25 is clubbed with Veena Nagar as they are contiguous Land parcel and hence now will form part of Larger Layout Plan.

▪ Anand, Gulmohar, Shri Hari, Prathamesh CHSL Added in Q3FY25 is

clubbed with Satsang, Sahyog, Shri Krishna as they are contiguous Land parcel and hence now will form part of Larger Layout Plan.

*Note: 1) Urbania - Our economic interest is 51%. 2) Charkop - our economic Interest is 73%. 3) Jyotirling - Our Economic interest is 33.33% . 4) Manori – Our Economic Interest is 73%. 5) New Kamal Kunj – Our Economic interest is 50% 6) New JV – Our Economic interest is 51% **Note: Project having investment from Mt K Kapital

V i r a r

Company Overview Performance Highlights Management Structure

B o r i v a l i

8 19

2 20 T h a n e

9 15

B a n d r a ( W

C h e m b u r

N a v i M u m b a i

P r a b h a d e v i

C h u r c h g a t e

1 1

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K e y s t o n e R e a l t o r s L i m i t e d

Strong residential project pipeline in place for future growth

Ongoing Projects

Forthcoming Projects

15 Ongoing ~7.09 msf saleable

26 Forthcoming ~26.68 msf saleable

Company Overview Performance Highlights Management Structure

15 projects

26 projects

Super Premium/Premium

Aspirational

Mid & Mass

Affordable

Commercial

Super Premium/Premium

Aspirational

Mid & Mass

Affordable

Commercial

Under Planning

CATEGORY

NO. OF PROJECTS

TOTAL SALEABLE AREA (MN SQ FT)

UNSOLD SALEABLE AREA (MN SQ FT)

GDV (INR BN)

% SHARE

SOLD RECEIVABLE (INR BN)

EST UNSOLD INVENTORY (INR BN)

COST TO COMPLETE* (INR BN)

Residential (A)

S up e r P r e m i um / P r e m i um

A s p i r a ti o na l

M i d & M a s s

A ffo r d a b l e

Commercial (B)

Total (A+B)

6.94

3.90

114.70

100%

28.28

61.87

50.57

0.94

0.62

3.72

1.67

0.15

7.09

0.27

0.38

1.95

1.29

0.03

3.92

34.70

17.33

58.62

4.06

30%

15%

51%

114.70

100%

10.30

3.99

13.17

0.82

0.00

28.28

13.17

10.84

35.00

2.86

0.29

62.16

9.78

7.93

30.75

2.11

0.00

50.57

Mid/Mass & Aspirational Segment represent ~66% of the Ongoing Residential Project Portfolio

~20% of the new launches in FY25 has already sold

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

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K e y s t o n e R e a l t o r s L i m i t e d

Forthcoming Projects as on 31st Dec 2024

Company Overview Performance Highlights Management Structure

CATEGORY

Residential (A)

Super Premium/Premium

Aspirational

Mid & Mass

Affordable

Commercial (B)

Total (A+B)

NO. OF PROJECTS

SALEABLE AREA (MN SQ FT)

EST. GDV (INR BN)

COST TO COMPLETE* (INR BN)

21.46

339.32

207.83

0.73

1.42

11.01

8.30

5.22

26.68

38.27

45.44

195.27

60.34

72.00

19.02

28.15

126.36

34.30

47.62

411.32

255.44

Over and Above there is another 1 Project in Naigaon which is in Planning Stage

Mid/Mass & Aspirational Segment represent ~71% of the Forthcoming Residential Project Portfolio

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

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K e y s t o n e R e a l t o r s L i m i t e d

Category-wise Performance for Q3FY25

Company Overview Performance Highlights Management Structure

CATEGORY

Super premium / Premium

Aspirational

Mid & Mass

Affordable

Commercial

Total

PRE-SALES (INR BN)

Q3FY25

Q3FY24

% CHANGE

9MFY25

9MFY24

% CHANGE

4.08

1.31

3.03

0.20

0.00

1.51

1.21

2.80

0.39

0.25

8.63

6.16

171%

-48%

40%

8.82

5.66

6.53

0.71

0.03

3.88

2.22

7.22

0.65

0.25

21.74

14.23

127%

154%

-10%

-90%

53%

Pre-Sales is INR 8.63 bn in Q3FY25, 40% growth on YoY basis Pre-Sales is INR 21.74 bn for 9MFY25, 53% growth on 9M YoY basis Almost achieved the full-year FY24 pre-sales value in just 9MFY25

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K e y s t o n e R e a l t o r s L i m i t e d

Historical Operational Performance (Last 5 Quarters)

Company Overview Performance Highlights Management Structure

Pre-Sales ( N O . O F U N I T S )

Area Sold ( M N S Q . F T . )

Pre-Sales ( I N R B N )

Collections ( I N R B N )

340

277

254

215

167

0.46

0.41

0.38

0.37

0.24

8.4

8.6

6.7

7.0

6.2

6.1

5.5 5.4

4.9

4.5

4 2 Y F 3 Q

4 2 Y F

4 Q

5 2 Y F

1 Q

5 2 Y F

2 Q

5 2 Y F

3 Q

4 2 Y F 3 Q

4 2 Y F 4 Q

5 2 Y F 1 Q

5 2 Y F 2 Q

5 2 Y F 3 Q

4 2 Y F 3 Q

4 2 Y F 4 Q

5 2 Y F 1 Q

5 2 Y F 2 Q

5 2 Y F 3 Q

4 2 Y F 3 Q

4 2 Y F 4 Q

5 2 Y F 1 Q

5 2 Y F 2 Q

5 2 Y F 3 Q

2 3

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K e y s t o n e R e a l t o r s L i m i t e d

New Launches in YTD FY-25

Company Overview Performance Highlights Management Structure

PROJECT NAME

LAUNCH QUARTER

LOCATION

CATEGORY

NATURE OF DEVELOPMENT

RERA COMPLETION DATES

SALEABLE AREA (MN SQ. FT)

EST GDV (INR BN)

180 Bayview (Jariwala)

Q1FY25 Matunga (W)

Aspirational

Dec-29

Ocean Vista (Sagar Tarang)

Q1FY25

Versova

Super Premium / Premium

Redevelopment

May-29

Verdant Vistas – A

Q2FY25

Thane W

Mid & Mass

JDA + JV

Jan-30

Verdant Vistas – B

Q2FY25

Thane W

Mid & Mass

JDA + JV

Feb-30

Belle Vie

Total

Q2FY25

Kasara

Affordable Outright Purchase

Dec-27

0.48

0.15

0.50

0.46

1.53

3.12

13.18

6.99

9.22

7.88

3.30

40.57

Launches in 9MFY25 is almost double of GDV Value launched in 9MFY24

~20% of the new launches in FY25 has already sold

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K e y s t o n e R e a l t o r s L i m i t e d

New Project Additions in FY-25

Company Overview Performance Highlights Management Structure

PROJECT NAME

QUARTER OF ACQUISITION

LOCATION

CATEGORY

NATURE OF DEVELOPMENT

SALEABLE AREA (MN SQ. FT)

EST GDV (INR BN)

CURRENT STATUS

1. Avinash Towers CHSL

Q1FY25

Versova

Aspirational

Redevelopment

2. Belle Vie

Q2FY25

Kasara

Affordable

Plotted Development

3. Satsang, Sahyog, Shri Krishna CHSL^

Q2FY25

Goregaon (East)

Mid and Mass

Redevelopment

4. Mansarowar*

Q2FY25 Malad (W)

Mid and Mass

Redevelopment

5. Anand, Gulmohar, Shri Hari and Prathmesh CHSL^

Q3FY25

Goregaon (East)

Mid and Mass

Redevelopment

6. Nirman CHSL*

Q3FY25 Malad (W)

Mid and Mass

Redevelopment

Total

*Mansarowar & Nirman Society will be clubbed with Veena Nagar/NeelKamal Society while Executing the Project ^Satsang, Sahyog, Shri Krishna, Anand, Gulmohar, Shri Hari & Prathamesh will be clubbed while Executing the Project

0.35

1.53

0.29

0.19

0.25

0.21

2.82

9.84

LOI Received.

3.30

Already Launched

6.11

DA done

3.93

LOI Received

5.40

DA done

4.40

LOI Received

32.97

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K e y s t o n e R e a l t o r s L i m i t e d

Project Additions from FY23 onwards

Company Overview Performance Highlights Management Structure

FY 23

(5 Projects)

FY 24

(8 Projects)

9MFY25

(6 Projects)

Added 19 Projects from FY23 having estimated GDV of ~ INR 163 Bn

• Jariwala, Mahim

(GDV: ₹ 13.18 bn) – Launched

• Dhuruvadi, Prabhadevi (GDV: ₹ 4.49 bn)

•Avinash CHSL, Versova

(GDV of ₹ 9.84 bn)

----

•Sagar Tarang, Versova

•Panorama, Pali Hill

(GDV: ₹ 6.99 bn) - Launched

(GDV: ₹ 4.15 bn) - Launched

• Vivekanand CHSL, Bandra E (GDV: ₹4.33 bn)

• Majithia Nagar, Kandivali W

(GDV: ₹17.28 bn)

• Kher Nagar 31, Bandra E (GDV: ₹3.20 bn) - Launched

• Crescent Apt, Pali Hill

(GDV: ₹ 11.81 bn)

• Basant Park CHSL, Chembur W (GDV: ₹ 16.30 bn)

• Haren Textiles Dahisar E (GDV: ₹14.53 bn)

•Belle Vie, Kasara (GDV of ₹ 3.30 bn) - Launched

•Satsang, Sahayog & Shri Krishna CHSL , Goregaon (E) (GDV of ₹ 6.11 bn)

• Mansarowar CHSL, Malad (W) (GDV of ₹ 3.93 bn)

Entered New Micro Markets – Chembur, Mahim, Versova, Goregaon, Dombivli, Kasara

----

16 out of 19 Projects are Redevelopment

----

• Veena Nagar & NeelKamal

(GDV: ₹ 10.93 bn)

•Anand, Gulmohar, Shri Hari and Prathmesh CHSL (GDV of ₹ 5.40 bn)

14 out of 19 Projects are in Mid/Mass and Aspirational Segment (~79% in terms of total GDV Added)

• New Kamal Kunj (GDV: ₹ 7.93 bn)

•Nirman CHSL •(GDV of ₹ 4.40 bn)

• Goregoan JV

(GDV ₹ 14.04 Bn)

----

5 Projects already launched having estimated GDV of ~ INR 31 Bn ___

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K e y s t o n e R e a l t o r s L i m i t e d

Cash Flows

Company Overview Performance Highlights Management Structure

PARTICULARS (INR Mn)

Q3 FY25

Q2 FY25

Q3 FY24

YTD FY25

YTD FY24

FY 23-24

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/Outflow from Investment Activities Other Investments (FD & Mutual Fund) NET CASH FLOW FROM INVESTMENT ACTIVITIES (B) Financing Activities Debt Drawdown Proceeds from QIP (net of expenses) Repayments Others Finance Costs NET CASH FLOW FROM FINANCING ACTIVITIES (C) Net Cash Flows for the Period (A+B+C)

4,048 0 (1,305) (1,043) (837) (22) 842

(1,395) 177

(1,218)

460 (64) (1,206) 64 (38) (784) (1,160)

4,264

(1,254) (464) (965) 26 1,606

(981) 89

(892)

269 (67) (349) 7 (71) (211) 503

3,025 261 (1,579) (249) (533) 24 949

11,902 (0) (3,823) (2,010) (2,489) (49) 3,531

(1,731)

(3,959)

(146) (1,877)

647 -

(3,312)

7,301 0 (7,141) (394) (260) (494) (1,422)

869 7,856 (4,763) 141 (282) 3,821 4,039

8,249 600 (2,944) (730) (1,410) (218) 3,547

(2,569) (23) (133) (2,725)

7,592 (23) (8,823) (394) (410) (2,058) (1,237)

13,844 629 (4,435) (1,083) (2,256) (267) 6,432

(3,890) 433 - (3,457)

7,823 (85) (10,341) (447) (655) (3,706) (731)

Investment in New Projects in 9MFY25 is INR 3.96 bn ~1.5x of same period Last Year

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K e y s t o n e R e a l t o r s L i m i t e d

Financial Summary – Debt Movement

DEBT MOVEMENT (INR MN)

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

Company Overview Performance Highlights Management Structure

31-Dec-24

31-Mar-24

3,730

8,540

(4,810)

7,652

4,061

3,591

27,043

17,978

0.14

1,145

0.43

0.20

652

ICRA has upgraded and assigned a rating of “A” with positive outlook

“A-” (with Stable Outlook)

“A-” (with Positive Outlook)

“A” (with Positive Outlook)

Feb 2023

Feb 2024

May 2024

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Financial Summary – Profit & Loss

Company Overview Performance Highlights Management Structure

CONSOLIDATED RESULTS (INR Mn)

Q3FY25 Q2FY25 Q3FY24

9MFY25 9MFY24

FY-24

Revenue from Ops

Other Income Total Income EBITDA* PBT PAT Share of Profit / (Loss) from JVs / Associates PAT after Share of Profits EBITDA Margin % PBT % PAT after Share of Profits % Adjusted EBITDA*# Adjusted EBITDA %

4,640

218 4,858 629 483 336 (36) 300 12.9% 9.9% 6.2%

941

5,331

232 5,562 1,037 911 683 (28) 656 18.6% 16.4% 11.8%

1,316

5,207

126 5,333 212 124 86 212 299 4.0% 2.3% 5.6%

1,488

19.4%

23.7%

27.9%

14,193

600 14,792 2,248 1,784 1,293 (81) 1,212 15.2% 12.1% 8.2%

3,137

21.2%

14,107

388 14,495 963 712 494 312 806 6.6% 4.9% 5.6%

3,499

24.1%

22,223

534 22,756 1,629 1,155 821 289 1,110 7.2% 5.1% 3.6%

4,065

17.9%

Absolute EBITDA has grown from INR 0.96 Bn to INR 2.25 Bn i.e. by 134% for 9M YoY

PAT has grown from INR 0.81 Bn to INR 1.21 Bn i.e. by ~50% 9M YoY

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

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K e y s t o n e R e a l t o r s L i m i t e d

ESG (Environment, Social and Governance)

Company Overview Performance Highlights Management Structure

Environmental Initiatives

Social Initiatives

• 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)

• Calculating Scope 1 & Scope 2 carbon emissions, energy and water intensity across projects

• Consolidating data on Environment and social indicators for our BRSR report

• Digitised our data collection process •

IGBC Green Homes Silver Rating awarded for Azziano Wing D & L, Rustomjee Urbania, Thane.

• 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 a year (More than 1,000 children educated)

•

Labour welfare compliance by contractors improved 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. Achieved 1 mn safe man hours each in Bella & Erika and 0.5 mn safe man hours each in Paramount F wing & Parishram without any lost time injuries or fatalities.

Engaging virtually with our key suppliers on their ESG practices & material issues

Training on use of software to make the process effective and seamless

•

• All ongoing project sites in Thane and

Mumbai were audited for compliance to ESG.

Governance

Policies Implemented:

• Anti bribery and anti corruption policy • EHS policy Sustainability policy • • Diversity and Inclusion • Information Security • Grievance management Update for FY25:

• Data verification and validation for all projects

•

for BRSR REPORT/Health and Safety - Principle 5 & 6 Scope 3 calculations (value based) for Purchased goods and services for FY 22-23 and FY 23-24 for Critical Suppliers - Steel, Cement, AAC blocks, aggregates Exploring possibility of Net zero Projects at Rustomjee with external consultants. Kick-off as part of our sustainability initiatives for plotted development at Kasara known as Belle-Vie Project Completion and uploading of Sustainability report for FY23-24 (BRSR) Training to Sales Team and Projects on IGBC green buildings certification (including benefits and requirements) Initiated a near net zero energy, carbon and water project for one of our project sites in Mumbai at design stage.

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K e y s t o n e R e a l t o r s L i m i t e d

Management Structure

Experienced Promoters and Directors Supported by a Professional Management Team Shareholding Pattern at the End of Quarter Completed Projects

RUSTOMJEE CROWN | SHOT AT LOCATION

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Experienced Promoters and Directors

Company Overview Performance Highlights Management Structure

Boman Irani C H A I R M A N & M A N A G I N G D I R E C T O R

• 28+ years of Real Estate experience • President of CREDAI

Chandresh Mehta E X E C U T I V E D I R E C T O R

Percy Chowdhry E X E C U T I V E D I R E C T O R

• 28+ years of Real Estate Experience • Directs the redevelopment initiatives for the Group

• 25+ years of Real Estate Experience • Directs Sales, Marketing and HR

functions

Independent Directors

Ramesh Tainwala N O N - E X E C U T I V E I N D E P E N D E N T D I R E C T O R

• Previously associated with

Samsonite International as CEO

Rahul Divan N O N - E X E C U T I V E I N D E P E N D E N T D I R E C T O R

Seema Mohapatra N O N - E X E C U T I V E I N D E P E N D E N T D I R E C T O R

• Founding partner of Rahul Gautam

Divan & Associates

• Was associated with BBC World Service Trust India as a trustee

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Backed by a Professional and Reinforced Management Team

Sajal Gupta ( G R O U P C F O & H E A D CORPORATE STRATEGY)

Rakesh Setia ( G R O U P H E A D – S A L E S AND MARKETING)

Atul Date ( G R O U P H E A D - P L A N N I N G & ARCHITECTURE)

Company Overview Performance Highlights Management Structure

Manish Sawant ( G R O U P H E A D – LIAISONING)

Bimal Nanda ( G R O U P C S A N D COMPLIANCE OFFIC ER)

Aradhana P ( G R O U P H E A D L E G A L )

Anupam Verma ( C E O - K A P S T O N E C O N S T R U C T I O N S )

Rohit Prasad ( G R O U P H E A D B U S I N E S S DEVELOPMENT)

Rahul Mahajan ( C H I E F I N F O R M A T I O N OFFICER)

Mahesh Gera ( G R O U P C H I E F H U MA N RESOURC ES OFFICER)

Vinayak Bhosale ( C H I E F O P E R A T I NG OFFICER)

Jennifer Sanjana ( P R O J E C T C E O )

Binitha Dalal ( C O F O U N D E R – MT . K KAPITAL)

Harsh Chandra ( P R O J E C T C E O )

Vishal Bafna ( P R O J E C T C E O )

Parag Saraiya ( P R O J E C T C E O )

Manish Randev ( P R O J E C T C E O )

Vineet Mehta ( P R O J E C T C E O )

Sreedharan Veede ( H E A D - S P E C I A L P R O J E C T S )

Madhusudan Thakur ( H E A D – C O MME R C I A L DEVELOPMENT)

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Siddharth Bhatt

( C E O , C R E S T P R O P E R T Y SOLUTIONS)

K e y s t o n e R e a l t o r s L i m i t e d

Shareholding Pattern as on 31st Dec ‘24

Company Overview Performance Highlights Management Structure

FPIs

Abu Dhabi Investment Authority Monsoon Morgan Stanley India Tata Indian Opportunities Fund

Promoter

FPI

Mutual Funds

Insurance

AIF

Bodies Corporate

Others

Mutual Funds

Tata Mutual Fund Quant Mutual Fund Bandhan Small Cap Fund

AIF

HDFC Capital Ananta Capital

Insurance

SBI Life Insurance Aditya Birla Sun Life Insurance SBI General Insurance ICICI Pru Life Insurance

Promoter

FPI

Mutual Funds

Insurance

AIF

Bodies Corporate

Others

78.35%

3.28%

7.55%

5.99%

2.61%

0.47%

1.75%

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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, Dadar Parsi Colony 15. Ciroc, Juhu 16. Raag, Goregaon (E) 17. Shimmer, Juhu 18. 7 JVPD, Juhu

Residential Projects (Contd.) 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. Summit & Pinnacle, Borivali (E) 30. Crown, Tower A & B, Prabhadevi 31. Bella, C &D Wing Bhandup (W) 32. Erika, Bandra (E)

Commercial 33. Sangam, Santracruz (W) 34. Natraj, Andheri (E) 35. Aspiree, Sion (E) 36. Central Park, Andheri (E)

V i r a r

Company Overview Performance Highlights Management Structure

6 B o r i v a l i

T h a n e

C h e m b u r

N a v i M u m b a i

23 B a n d r a ( W )

P r a b h a d e v i

C h u r c h g a t e

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K e y s t o n e R e a l t o r s L i m i t e d

Disclaimer

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.

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RUSTOMJEE ELEMENTS | SHOT AT LOCATION

K e y s t o n e R e a l t o r s L i m i t e d

Thank You

KEYSTONE REALTORS LIMITED 702, Natraj, M.V. Road Junction, Western Express Highway, Andheri East, Mumbai – 400 069. Tel: 022 – 667 66 888 www.rustomjee.com. investor-relations@rustomjee.com

Investor Relations

M r . K a m a l M it t a l

H e a d – F u n d R a i s i n g & I n v e s t o r R e l a t i o n s

kamalmittal@rustomjee.com

M r . K a na v K ha n n a

E Y ( I R P r a c t i c e )

Kanav.Khanna@in.ey.com

Company Secretary & Compliance

Rustomjee Crown. Shot at location

M r . B im a l Na n d a - G r o u p C o m p a n y Se c r e t a r y & C o m p li a n c e O f f ic e r

bimalnanda@rustomjee.com

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