Credit Rating- Others

Date: August 24, 2026 The General Manager The Manager, Listing Department, Listing & Compliance Department, Bombay Stock Exchange Limited, National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. C/1, G Block, Dalal Street, Bandra Kurla Complex, Bandra East, Mumbai – 400 001, Mumbai – 400 051. Scrip Code: 543669 & 977174 Scrip Symbol: RUSTOMJEE Sub: Credit rating by ICRA Limited Ref: Intimation under Regulation 30(6) read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Dear Sir/ Madam, This is to inform you that ICRA Limited (“ICRA”) vide its letter dated August 24, 2026, assigned a rating of “ICRA AA -/ (Stable)” (pronounced as ICRA double A minus rating with stable outlook) to the proposed Rs. 385 Crore Non-convertible Debentures to be issued by the Company. This is to further inform you that ICRA Limited (ICRA) vide its letter dated August 24, 2026, reaffirmed a rating to the Company’s Rs. 285 Crore Non-convertible Debentures, Issuer Rating and total Bank Loan Facilities rating for Rs. 1,000 crores as “ICRA AA -/ (Stable)” (pronounced as ICRA double A minus rating with stable outlook). The letters from ICRA are enclosed herewith. We request you to please take note of the aforesaid. Thanking you For Keystone Realtors Limited Bimal Nanda Company Secretary ACS 11578 Encl: As above KEYSTONE REALTORS LIMITED 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 ICRA Limited ICRA/Keystone Realtors Limited/24082026/1 Date: August 24, 2026 Mr. Sajal Gupta Keystone Realtors Limited 702, NATARAJ, MV Road Junction Western Express Highway Andheri (East), Mumbai – 400069 Dear Sir, Re: ICRA’s Credit Rating for below mentioned Instruments of Keystone Realtors Limited As per the Rating Agreement/Statement of Work executed with ICRA Limited, ICRA’s Rating Committee has taken the following rating actions for the mentioned instruments of your company. Rated Amount Financial Sector Instrument Rating Action1 (Rs. crore) Regulator# Issuer Rating - [ICRA]AA-(Stable); reaffirmed -$ Total - $ Since no instrument is being rated, FSR is not applicable. The rating scale and definitions stipulated in SEBI Master Circular for CRAs are being followed. # SEBI’s grievance redressal/dispute resolution and SEBI investor protection mechanisms such as SCORES and ODR shall not be available for activities and instruments which fall under the regulatory purview of Financial Sector Regulators other than SEBI. The aforesaid rating(s) will become due for surveillance within one year from the date of rating communication letter. However, ICRA reserves the right to review and/or, revise the above rating(s) at any time based on new information becoming available, or the required information not being available, or other circumstances that ICRA believes could have an impact on the rating(s). Therefore, request the lenders and investors to visit ICRA website at www.icra.in for latest rating(s) of the company. The rating(s) are specific to the terms and conditions of the instruments as indicated to us by you, and any change in the terms or size of the same would require a review of the rating(s) by us. In case there is any change in the terms and conditions or the size of the rated instrument, the same must be brought to our notice before the instrument is used by you. In the event such changes occur after the rating(s) have been assigned by us and their use has been confirmed by you, the rating(s) would be subject to our review, following which there could be a change in the rating(s) previously assigned. Notwithstanding the foregoing, any change in the over-all limit of the instrument from that specified in this letter, would constitute an enhancement that would not be covered by or under the said Rating Agreement. The rating(s) assigned must be understood solely as an opinion and should not be treated, or cause to be treated, as recommendation to buy, sell, or hold the rated instrument availed/issued by your company. You are also requested to forthwith inform us about any default or delay in repayment of interest or principal amount of the instrument rated, as above, or any other debt instruments/ borrowing and keep us informed of any other developments which may have a direct or indirect impact on the debt servicing capability of the company including any 1 Complete definitions of the ratings assigned are available at www.icra.in. BuilSdeinngs Nitoiv. i8ty, 2 Lnad bFelolo :r ,R Teoswterirc Ate d Tel.: +91.124 .4545300 Website: www.icra.in DLF Cyber City, Phase II CIN: L749999DL1991PLC042749 Email: info@icraindia.com Gurugram – 122002, Haryana Helpdesk: +91 9354738909 Registered Office: B-710, Statesman House, 148, Barakhamba Road, New Delhi 110001. Tel.: +91.11.23357940-41 RATING ● RESEARCH ● INFORMATION proposal for re-schedulement or postponement of the repayment programmes of the dues/ debts of the company with any lender(s) / investor(s), or occurrence of any significant development that could impact the ability of the company to raise funds such as restriction imposed by any authority from raising funds through issuance of debt securities through electronic bidding system. Further, you are requested to inform us immediately as and when the borrowing limit for the instrument rated, as above, or as prescribed by the regulatory authority(ies) is exceeded. We look forward to your communication and assure you of our best services. With kind regards, Yours sincerely, For ICRA Limited Anupama Reddy Vice President & Group Head anupama.reddy@icraindia.com Sensitivity Label : Restricted ICRA Limited ICRA/Keystone Realtors Limited/24082026/3 Date: August 24, 2026 Mr. Sajal Gupta Keystone Realtors Limited 702, NATARAJ, MV Road Junction Western Express Highway Andheri (East), Mumbai – 400069 Dear Sir, Re: ICRA’s Credit Rating for below mentioned Instruments of Keystone Realtors Limited As per the Rating Agreement/Statement of Work executed with ICRA Limited, ICRA’s Rating Committee has taken the following rating actions for the mentioned instruments of your company. Rated Amount Financial Sector Instrument Rating Action1 (Rs. crore) Regulator# Long Term – Fund Based – Term RBI 395.00 [ICRA]AA-(Stable); reaffirmed Loans Long Term-Fund Based-Overdraft 4.10 [ICRA]AA-(Stable); reaffirmed RBI Long Term - unallocated 600.90 [ICRA]AA-(Stable); reaffirmed RBI Total 1000.00 # SEBI’s grievance redressal/dispute resolution and SEBI investor protection mechanisms such as SCORES and ODR shall not be available for activities and instruments which fall under the regulatory purview of Financial Sector Regulators other than SEBI. The aforesaid rating(s) will become due for surveillance within one year from the date of rating communication letter. However, ICRA reserves the right to review and/or, revise the above rating(s) at any time based on new information becoming available, or the required information not being available, or other circumstances that ICRA believes could have an impact on the rating(s). Therefore, request the lenders and investors to visit ICRA website at www.icra.in for latest rating(s) of the company. The rating(s) are specific to the terms and conditions of the instruments as indicated to us by you, and any change in the terms or size of the same would require a review of the rating(s) by us. In case there is any change in the terms and conditions or the size of the rated instrument, the same must be brought to our notice before the instrument is used by you. In the event such changes occur after the rating(s) have been assigned by us and their use has been confirmed by you, the rating(s) would be subject to our review, following which there could be a change in the rating(s) previously assigned. Notwithstanding the foregoing, any change in the over-all limit of th [Showing first 8,000 characters — download PDF for full document]