RUSTOMJEENSE14 May 2025

Keystone Realtors Limited has informed the Exchange about Investor Presentation

Keystone Realtors Limited

Date: May 14, 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 Audited Financial Results for the year ended March 31, 2025.

This the Company’s website https://www.rustomjee.com/about-us/financial-statements/?year=2024-2025.

uploaded

being

also

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

Investor Presentation

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

10,11

Actual views from the Rustomjee Ocean Vista superimposed.

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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 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 Excellence in Stall Designing Developers CREDAI MCHI - Mumbai (BKC) Best Stall Design CREDAI MCHI - KDMC (Kalyan) Most Innovative Brand Communicator of the Year CREDAI MCHI - Thane Best Realty Brands ET Now Best Realty Brand Awards 2025

IMAGE IS FOR REPRESENTATIONAL PURPOSES ONLY

MMR Focused

Prominent Redevelopment Player

Asset Light Model

29+ Years of existence

26+ msf Construction Area developed

40+ 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

26+ Million Sq. Ft. delivered

Prominent MMR Real Estate developer with 26+ Million Sq. Ft. construction area delivered and a pipeline of 40+ 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

• La unc he d

its first Re sid e ntia l Development

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

• Launched

the township tower ‘Urbania’ in Thane

• Mausmi SA Investments an made LLC investment in Keystone

• Launched

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

• Trinity Capital

(Fifteen)

Limited invested in Constructions Enigma Private Limited, Rustomjee Construction Private and Constructions Kapstone Private Limited’

Limited

• Acquired

Land located at Bandra (Bandstand)

• Entered

into a

Development management agreement for the development ‘Crown’ in Prabhadevi

IPO Listing

• Sales launch • Cleon, La Vie (A,B

& C)

• Development completed

• Yazarina (A), Crown Summit, (A), Urbania (L & D), Central Park

Company Overview Performance Highlights Management Structure

• Entered into First Plotted Development at Kasara “Belle Vie”

1996

1998

2000

2001

2006

2007

2009

2010

2011

2013

2014

2018

2020

2021

2022

2023

2024

2025

2026

• Launched the ‘Regency' Development in Dahisar

• Launched premium Developme nt ‘9 JVPD’ on 10th road Juhu

• Launched

slum redevelopme nt in ‘Elita’ Andheri West.

• Launched township Development ‘Global in Virar.

City’

• Launched

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

• Launched

the gated

luxury community Development ‘Elements’ Juhu/Andheri

• Launched the gated

community Development ‘Paramount’ in Khar

• Giza

and

Limited

Holdings

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

•

(a owned Keppel

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

• Partnered with strategic

investors such as HDFC Capital Affordable Real Estate Fund – 3, IIFL Special Opportunities Fund - Series 9 and IIFL

• Special Opportunities Fund - Series 10, Dreamz Dwellers LLP.

• Launched Category II AIF (Mt.

K Capiital)

QIP Raised

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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 (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. Urban Woods – Phase 1, Dombivli (Affordable) 4. Crown- C, Prabhadevi (Super Premium/Premium) 5. Bella (A&B), Bhandup (W)*# (Mid and Mass) 6. Paramount, Khar (W) (Aspirational) 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) 14. Prive (Vivekanand CHSL), Bandra (E) (Aspirational)

Commercial 15. Eaze Zone, Goregaon (W)

Plotted Development 16. Belle Vie, Kasara

#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. **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

N a v i M u m b a i

C h e m b u r

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

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) (Mid and Mass) 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. Basant Park, Chembur (Super Premium / Premium) 12. Dhuruvadi, Prabhadevi** (Super Premium / Premium) 13. Majithia Nagar, Kandivali (W) (Mid and Mass) 14. Crescent Apartments, Pali Hill ** (Super premium/Premium) 15. Haren Textiles, Dahisar E (Mid and Mass) 16. Veenanagar /NeelKamal /Mansarowar/ Nirman CHSL, Malad W (Mid and Mass) 17. Garden Estate, Thane (W) (Mid and Mass) 18. New JV, Goregaon E* (Mid & Mass)

Commercial 19. Urbania Commercial 20. OB12 + 13, Bandra (E) 21. New Kamal Kunj, Bandra (W)

Plotted Development 22. Manori*

Under planning 23. Naigaon

New Additions (FY25) 24. Avinash Towers, Versova (Aspirational) 25. Satsang, Sahyog, Shri Krishna, Anand, Gulmohar, Shri Hari, Prathamesh, Om, Shri Gajanan, Mangalmurthi CHSL, Goregaon (E) (Mid and Mass) 26. Shivneri, Worli ((Super Premium / Premium) 27. Pardi, Nagpur (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.

▪ Om, Shri Gajanan and Mangalmurthi CHSL Added in Q4FY25 is clubbed

with Satsang, Sahyog, Shri Krishna, Anand, Gulmohar, Shri Hari, Prathamesh CHSL 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 ***Virar Land comprising of the Saleable area of 5.2 Mn Sq Ft is considered for development under JDA 1 1

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V i r a r

Company Overview Performance Highlights Management Structure

B o r i v a l i

8 18

2 19 T h a n e

9 14

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

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

16 Ongoing ~7.96 msf saleable

27 Forthcoming ~21.29 msf saleable

Company Overview Performance Highlights Management Structure

16 projects

27 projects

Super Premium/Premium

Aspirational

Mid & Mass

Affordable

Commercial

1 2

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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)

7.81

0.86

0.75

3.72

2.48

0.15

7.96

4.36

0.22

0.43

1.74

1.96

0.03

4.38

115.73

100%

30.22

21.51

54.99

9.01

26%

19%

48%

115.73

100%

30.26

9.72

5.34

13.73

1.47

30.26

59.38

10.90

12.84

28.36

7.28

0.29

59.67

53.55

8.72

9.70

28.46

6.67

53.55

Mid/Mass & Aspirational Segment represent ~66% of the Ongoing Residential Project Portfolio ~25% of the new launches in FY25 have already been sold (~37% of projects launched in Q1FY25)

*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 March 2025

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)

16.08

318.64

196.54

1.47

0.69

11.99

1.93

5.21

68.40

21.02

35.65

13.12

206.16

136.37

23.06

73.73

11.39

47.80

21.29

392.37

244.34

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 #In addition, Virar Land comprising of the Saleable area of 5.2 Mn Sq Ft is considered for development under JDA

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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 Q4FY25 & FY25

Company Overview Performance Highlights Management Structure

CATEGORY

PRE-SALES (INR BN)

Super premium / Premium

Aspirational

Mid & Mass

Affordable

Commercial

Total

Q4FY25 %Contribution 1.93 23% 2.52 29% 3.10 36%

0.99 12% 0.00 0% 8.54 100%

Q4FY24 %Contribution 3.80 45% 1.26 15% 3.07 36%

0.26 3% 0.03 0% 8.43 100%

FY25 %Contribution 10.75 36% 8.17 27% 9.63 32%

1.70 6% 0.03 0% 30.28 100%

FY24 %Contribution 7.69 34% 3.49 15% 10.29 45%

0.91 4% 0.28 1% 22.66 100%

Pre-Sales is INR 30.28 bn in FY25, 34% growth on YoY basis Aspirational and Mid & Mass contributed ~60% of pre-sales, in line with our guidance The PSFT rate (Excl Plotted Development) has improved from INR 18,821/-PSFT to INR 21,985/- PSFT

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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)

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 )

411

0.58

8.4

8.6

8.5

6.7

Company Overview Performance Highlights Management Structure

7.5

277

254

215

167

0.46

0.41

0.38

0.24

7.0

6.1

5.5

5.4

4.9

4 2 Y F

4 Q

5 2 Y F

1 Q

5 2 Y F

2 Q

5 2 Y F

3 Q

5 2 Y F

4 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

5 2 Y F 4 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

5 2 Y F 4 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

5 2 Y F 4 Q

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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 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

Q2FY25

Kasara

Affordable Outright Purchase

Dec-27

Urban Woods Phase-I

Q4FY25

Dombivli

Affordable

JDA

May-29

Prive

Total

Q4FY25

Bandra (E)

Aspirational

Redevelopment

Nov-29

0.48

0.15

0.50

0.46

1.53

0.92

0.13

4.16

13.18

6.99

9.22

7.88

3.30

5.53

4.08

50.19

~25% of the new launches in FY25 have already been sold (~37% of projects launched in Q1FY25) Industry Recognition (180 Bayview): Featured in Construction Week's "Top Five Projects That Will Take Your Breath Away."

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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

7. Om, Shri Gajanan, Mangalmurthi CHSL

Q4FY25

Goregaon (East)

8. Shivneri CHSL

Q4FY25

Worli

9. Pardi, Nagpur

Total

Q4FY25

Pardi, Nagpur

Mid and Mass

Redevelopment

Super Premium / Premium

Redevelopment

Mid and Mass

Outright Purchase

0.35

1.53

0.29

0.19

0.25

0.21

0.40

0.09

0.36

3.67

9.84

DA done

3.30 Already Launched

6.11

DA done

3.93

LOI Received

5.40

DA done

4.40

LOI Received

8.41

DA done

3.36

DA done

Agreement Signed

3.10

47.83

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

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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

FY 23

(5 Projects)

FY 24

(8 Projects)

FY25

(9 Projects)

•Jariwala, Mahim

(GDV: ₹ 13.18 bn) – Launched

• Dhuruvadi, Prabhadevi (GDV: ₹ 4.49 bn)

•Avinash CHSL, Versova

(GDV of ₹ 9.84 bn)

•Sagar Tarang, Versova

(GDV: ₹ 6.99 bn) - Launched

•Panorama, Pali Hill

(GDV: ₹ 4.15 bn) - Launched

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

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

• Majithia Nagar, Kandivali W

(GDV: ₹17.28 bn)

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

Company Overview Performance Highlights Management Structure

Added 22 Projects from FY23 having estimated GDV of ~ INR 178 Bn

----

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

•Kher Nagar 31, Bandra E

(GDV: ₹3.20 bn) - Launched

• Crescent Apt, Pali Hill

(GDV: ₹ 11.81 bn)

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

----

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

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

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

• Veena Nagar & NeelKamal

(GDV: ₹ 10.93 bn)

•Nirman CHSL (GDV of ₹ 4.40 bn)

• New Kamal Kunj (GDV: ₹ 7.93 bn)

• Goregaon JV

(GDV ₹ 14.04 Bn)

•Om, Shri Gajanan, Mangalmurthi CHSL (GDV of ₹ 8.41 bn)

•Shivneri CHSL (GDV of ₹ 3.36 bn)

•Pardi, Nagpur (GDV of ₹ 3.10 bn)

18 out of 22 Projects are Redevelopment

----

16 out of 22 Projects are in Mid/Mass and Aspirational Segment (~79% in terms of total GDV Added)

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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)

Q4 FY25

Q3 FY25

Q4 FY24

FY 24-25

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)

5,204 419 (1,423) (1,099) (882) 53 2,273

(2,860) 1,301

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

(1,395) 177

(1,558)

(1,218)

388 (8) (958) 8 32 (537) 177

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

5,595 29 (1,492) (352) (846) (49) 2,885

(1,321) 456 133 (732)

231 (62) (1,518) (53) (245) (1,648) 506

17,107 419 (5,246) (3,109) (3,371) 4 5,803

(6,819) 1,948

- (4,870)

1,257 7,849 (5,721) 149 (250) 3,284 4,217

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 is consistently going up. FY24 over FY23 is 2.25x and FY25 over FY24 is ~1.75x

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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-Mar-25

31-Mar-24

3,160

8,738

(5,578)

7,652

4,061

3,591

26,462

17,978

0.12

1,162

0.43

0.20

652

ICRA has upgraded and assigned a rating of “A+” (with Stable Outlook)

“A-” (with Stable Outlook)

“A-” (with Positive Outlook)

“A” (with Positive Outlook)

Feb 2023

Feb 2024

May 2024

“A+” (with Stable Outlook)

May 2025

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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 – Profit & Loss

Company Overview Performance Highlights Management Structure

CONSOLIDATED RESULTS (INR Mn)

Q4FY25

Q3FY25

Q4FY24

FY-25

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 %

5,848 573 6,422 1,069 891 694 (28) 666 16.7% 13.9% 10.4% 1,543 24.0%

4,640 218 4,858 629 483 336 (36) 300 12.9% 9.9% 6.2% 941 19.4%

8,116 146 8,262 667 444 327 (22) 305 8.1% 5.4% 3.7% 1,709 20.7%

20,041 1,173 21,214 3,317 2,676 1,986 (108) 1,878 15.6% 12.6% 8.9% 4,679 22.1%

22,223 534 22,756 1,629 1,155 821 289 1,110 7.2% 5.1% 4.9% 4,065 17.9%

EBITDA grown from INR 1,629 Mn in FY24 to INR 3,317 Mn in FY25 (Increased ~104%) EBITDA Margin more than doubled in FY25 as compared to FY24 from 7.2% in FY24 to 15.6% in FY25 PAT Increased ~69% YoY from INR 1,110 Mn in FY24 to INR 1,878 Mn in FY25

The Board of Directors has recommended a final dividend of INR 1.50/- per fully paid-up equity share of INR 10/- each (i.e. 15% of face value of equity share) for the financial year ended March 31, 2025, subject to approval of the shareholders in the ensuing Annual General Meeting of the Company.

*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

Governance

• 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

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.

•

Introduced Merit Scholarship Program for Degree Engineering In The Memory of Late Shri. Venkatraman Balaraman for 50% of course fees for all employees incl third party employees and consultants.

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. Registered our first "Carbon Net Zero" project with the Indian Green Building Council (CII - IGBC) for our Belle-Vie project in Kasara.

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)

ESG audits have been completed for all project sites. New sites that began demolition or piling last quarter have started digitally generating and reporting sustainability data.

Celebrated “Safety Week” across all project sites, including medical camps, fire safety training, and other health and safety programs.

Launched the “Supply Chain Sustainability Program” with key building material vendors.

The EHS and Sustainability Policy has been implemented throughout the company.

Conducted our first in-house ISO 14001 and ISO 45001 Awareness Training for site/project engineers and safety officers.

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

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

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

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 March ‘25

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%

3.10%

7.38%

6.32%

2.49%

0.50%

1.86%

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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) 33. Parishram, Pali Hill

Commercial 34. Sangam, Santracruz (W) 35. Natraj, Andheri (E) 36. Aspiree, Sion (E) 37. 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

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

Financial Summary – Balance Sheet

Company Overview Performance Highlights Management Structure

BALANCE SHEET (INR Mn)

Assets Non Current Assets PPE, Investment Property, ROU Goodwill Investments Financial Assets Tax Assets Other Non Current Assets

Current Assets Inventories Debtors Cash & Bank Other Financial Assets Tax Assets Net Other Current Assets Total Assets

Equity & Liabilities Equity Share Capital Other Equity Non- Controlling Interest Total Equity

Non Current Liabilities Borrowings Other Financial Liabilities Trade Payables

Current Liabilities Borrowings Trade Payables Other Financial Liabilities Tax Liabilities Other Current Liabilities Total Liabilities

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As at 31st Mar 2025

As at 31st Mar 2024

557 3,182 3,182 1,753 566 122

38,610 907 8,458 4,208 125 4,268 65,937

1,260 26,463 127 27,850

2,608 1,922 108

6,437 7,991 1,867 102 17,053 65,937

367 3,182 3,502 1,215 991 90

37,103 1,048 3,664 4,377 0 3,780 59,318

1,139 16,839 (36) 17,942

6,093 1,902 44

4,756 6,422 2,316 61 19,783 59,318

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

Mr. Kamal Mittal - Head – Fund Raising & Investor Relations kamalmittal@rustomjee.com

Investor Relations

Mr. Kanav Khanna - EY (IR Practice) Kanav.Khanna@in.ey.com

Company Secretary & Compliance

Rustomjee Crown. Shot at location

Mr. Bimal Nanda - Group Company Secretary & Compliance Officer bimalnanda@rustomjee.com

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