Rustomjee Group Sets Sights on Pune, Exploring 100-Acre Township Plans

Mumbai-based real estate giant Keystone Realtors Ltd, popularly known as the Rustomjee Group, is gearing up to make its debut in the Pune property market. Chairman and Managing Director Boman Irani confirmed that the company is evaluating two prime land parcels totaling approximately 100 acres for a potential township project.

If finalized, Pune will become the third city in Rustomjee’s expansion drive, following its recent entry into Nagpur just three months ago.

“We are currently studying two joint development proposals in Pune, each involving significant land parcels. Our vision is to create a township, just like our large-scale projects in the Mumbai Metropolitan Region (MMR),” said Irani. “While the entry won’t happen this year, we expect to step into Pune by next year, after launching our Nagpur project.”

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MMR Still the Core Focus

Despite its expansion plans, Rustomjee remains firmly anchored in the MMR market, especially in the redevelopment of old buildings. The group recently announced three major redevelopment projects—GTB Nagar, Lokhandwala Cluster, and Swarganga CHSL—together adding 3.25 million sq ft of saleable space with a projected Gross Development Value (GDV) of ₹7,727 crore.

Currently, the company has 18 ongoing projects in MMR spanning 8.61 million sq ft and 26 upcoming projects covering 23.79 million sq ft. Notably, 16 of these fall within the high-demand ₹1 crore to ₹7 crore price bracket.

Market Insights – Sweet Spots & Demand Trends

Speaking on the Mumbai market, Irani highlighted that demand is strongest in the ₹3.5 crore to ₹5 crore segment, calling it the “sweet spot” for buyers. He also noted:

• ₹1 crore to ₹3 crore homes continue to be the most popular choice.
• Affordable housing is facing slower demand.
• Mid-mass and aspirational segments between ₹1 crore to ₹7 crore are undersupplied yet highly sought after.

“MMR is essentially eight to nine markets rolled into one. Each has its own price points, preferences, and buyer base. The key is to identify where your product will resonate and position accordingly,” Irani added.

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Record-Breaking Sales, But Profit Dip

In Q1FY26, Rustomjee achieved its highest-ever quarterly pre-sales of ₹1,068 crore, marking a 75% jump year-on-year. However, consolidated net profit dropped 44% to ₹14.51 crore, down from ₹25.82 crore in the same quarter last year.
Total income also fell from ₹437.20 crore to ₹288.64 crore.

Bottom Line: Rustomjee’s upcoming Pune entry signals its strategic push into key Indian cities while keeping MMR as its stronghold. With large township ambitions, continued redevelopment projects, and a sharp eye on high-demand price brackets, the group is positioning itself for long-term growth.

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