The company, which operates the Rustomjee brand, expects to generate a potential of approximately 6 lakh sq ft of carpet area from the development of the land, as per the extent of the provisions of the Development Control and Promotion Regulations for Greater Mumbai, 2023.
Consideration under the agreement is on a staggered basis, subject to the fulfilment of necessary conditions precedent, it said.
Shares of Keystone Realtors closed 1.32% higher at Rs 561.70 apiece on the BSE, as compared with a 0.5% decline in the benchmark Sensex.
