Annual Report 2025 - 26

Date: August 25, 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, Mumbai – 400 001 Bandra East, Mumbai – 400 051 Scrip Code: 543669 & 977174 Scrip Symbol: RUSTOMJEE Subject: Notice to the 31st Annual General Meeting (“AGM”) along with Annual Report of the Company for the Financial Year 2025-26 Dear Sir / Madam, This is to inform you that the 31st AGM of Keystone Realtors Limited (“Company”) is scheduled to be held on Friday, September 18, 2026, at 04:00 p.m. (IST) through Video Conferencing ("VC") / Other Audio Visual Means ("OAVM"), in accordance with the relevant circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India. Pursuant to Regulation 34(1) SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) and other applicable Laws and Regulations, please find enclosed herewith the copy of the Annual Report of the Company for the financial year 2025-26 along with the Notice of the 31st Annual General Meeting, which is being sent by email dated August 25, 2026, to those Members whose email addresses are registered with the Company/ RTA/ Depository Participant(s). Additionally, in accordance with Regulation 36(1)(b) of the listing Regulations, the Company has also sent a letter to shareholders whose e-mail addresses are not registered with Company/Depositories, providing the weblink of Company's website from where the Annual Report of the Company for Financial Year 2025-26 can be accessed. The Annual Report for FY 2025-26 including the Notice of 31st AGM and is available on the website of the Company at https://www.rustomjee.com/publicupload/Annual_Report_2025_26.pdf. This is for your information and records. Thanking you, Yours faithfully, For Keystone Realtors Limited Bimal K Nanda Company Secretary & Compliance Officer Membership No. A11578 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 KEYSTONE REALTORS LIMITED Annual Report 2025-26 Groundwork for Scale For three decades, Rustomjee has been shaping Mumbai’s residential landscape through a considered approach to development, with a focus on quality, execution and long- term value. Our integrated in-house capabilities across architecture, design, approvals, construction and marketing, combined with a disciplined asset-light model and strong expertise in redevelopment, have enabled us to build a diversified portfolio and scale our presence across the city. These capabilities provide a strong foundation for the next phase of our growth. FY26 was a year in which that confidence was reflected in our performance. We recorded our highest-ever pre-sales, met or exceeded the operational commitments we had made to the market, and further strengthened our already conservative balance sheet. The year also marked continued progress in improving the quality and profitability of our portfolio, positioning the business on a stronger footing for the next phase of growth. That foundation is built on a deliberate model. We limit the capital committed to land, partnering with housing societies and landowners to redevelop ageing buildings in established micro-markets with strong demand. We evaluate each new project for margin before adding it to our portfolio. We have also focused our pipeline on the premium and emerging premium segments, where Mumbai’s demand is strongest and our brand has an established position. Cluster redevelopment, which brings adjoining societies together into a single integrated development, enables greater scale and stronger project economics in land-constrained parts of the city. Scale, for us, is not a departure from this discipline. It is the result of it. Having grown pre-sales at a compound rate of 36% over three years, we are well positioned to build on this momentum through large cluster redevelopments, plotted development, new geographies and formats, and a growing commercial annuity portfolio. These growth levers provide a diversified foundation for the next phase of the business. Actual Image With Proposed View - Rustomjee Ocean Vista, Versova About this Report Inside this Report Corporate Overview Statutory Reports This Annual Report presents the Reporting Period and Boundary New Project Addition in FY26 02 Cluster Redevelopment 26 Corporate Information 62 The report covers the financial year from 1 April 2025 performance, strategy and prospects to 31 March 2026 (FY26), with comparative figures for New Project Launches in FY26 04 Premiumisation of the Portfolio 28 Directors' Report: 2025 - 26 63 the prior year (FY25) provided where relevant. Financial of Keystone Realtors Limited, widely information is presented on a consolidated basis unless FY26 Highlights 06 Key Performance Indicators 30 Corporate Governance Report 77 stated otherwise, and is drawn from the Company’s recognised under the Rustomjee brand, audited financial statements. Operational and market About the Company 08 Vision 2030: The Road Business Responsibility and information has been sourced from the Company’s for the financial year ended 31 March 2026. records and named external research. to ₹10,000 Crores 32 Sustainability Report 142 Vision, Mission, Values & Brand Purpose 10 Letter to Shareholders 34 It is prepared to give shareholders and other Our Journey 12 Board of Directors 36 stakeholders a clear and balanced account Where We Build 14 Leadership Team 38 Registered Office of how the Company created value during Project Portfolio: Execution Excellence & Financial Statements Keystone Realtors Limited, 702, Natraj, M.V. Road the year, and of the foundations on which it Junction, Completed Projects 16 Technology 40 Standalone Financial Western Express Highway, Andheri (East), Mumbai Statements 182 intends to build over the coming decade. 400069. Project Portfolio: Sustainability & ESG 42 CIN: L45200MH1995PLC094208 Ongoing Projects 18 Consolidated Financial Corporate Social Responsibility 44 Website: www.rustomjee.com Statements 280 Project Portfolio: Awards & Recognition 46 Forthcoming Projects 20 Notice 379 Governance Framework 48 The Redevelopment Opportunity 22 Management Discussion & Analysis 50 Feedback Our Business Model 24 We welcome feedback on this report. Comments and queries may be directed to the Company’s Investor Relations team at the registered office or by email at For more details investor-relations@rustomjee.com www.rustomjee.com Forward-Looking Statement This report contains certain forward-looking statements, which are subject to inherent risks and uncertainties. Expressions such as ‘will’, ‘shall’, ‘anticipate’, ‘believe’, ‘estimate’, ‘intend’, ‘expect’ and similar terminology, when used in relation to the Company or its business, are intended to denote such forward- looking statements. These statements are based on current expectations, assumptions and projections regarding future events and business performance, including the Company’s stated growth ambitions and project pipeline. Actual results, performance or achievements may differ materially from those expressed or implied due to a variety of factors, including changes in economic conditions, real estate market dynamics, regulatory developments, the pace of project approvals and execution, and other unforeseen events. The Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. Readers are advised not to place undue reliance on these forward- looking statements, which speak only as of the date of this report. Artist’s Impression - Rustomjee Crescent [Showing first 8,000 characters — download PDF for full document]