Rustomjee Group Expands into Pune, Eyes 100 Acres for Township Projects
Mumbai-based Rustomjee Group, a prominent real estate developer, is set to enter the Pune real estate market with plans to acquire around 100 acres for township projects. The group's CMD, Boman Irani, shares insights on the company's expansion strategy and market focus.
Real EstatePuneRustomjee GroupTownship ProjectsBoman IraniReal Estate MumbaiAug 07, 2025
Boman Irani, CMD of Rustomjee Group, stated that the company is studying two proposals in a joint development (JD) model for the Pune real estate market. “We are looking at township projects, which is what we have successfully executed in the Mumbai Metropolitan Region (MMR). While the exact size of the projects in Pune may vary, we are particularly interested in large-scale development,” Irani explained.
The company’s entry into Pune is not expected to happen immediately. According to Irani, the new projects in Pune will likely be launched by next year. “We have announced a project in the Nagpur real estate market, and we will soon announce the launch of that first. Once we have a solid foundation in Nagpur, we will move on to Pune,” he added.
Despite the expansion, Rustomjee Group’s primary focus remains on the MMR and the redevelopment of old buildings in the region. The company has a robust portfolio in MMR, with 18 ongoing projects totaling around 8.61 million sq ft and 26 upcoming projects totaling around 23.79 million sq ft. Sixteen of these upcoming projects are priced between ₹1 crore and ₹7 crore, catering to the mid-mass and aspirational segments of the market.
Irani highlighted the varying demand across different segments in the MMR. “In certain pockets, the interest is very high, while in others, it is not as strong. Affordable housing is not performing as well as we would like, but the mid-mass and aspirational segment, particularly in the ₹1 crore to ₹7 crore range, is seeing high demand. The ₹3.5 crore to ₹5 crore range is especially attractive, and we see this segment as a continuously growing market for Mumbai city,” he noted.
The company has also announced three significant redevelopment projects in its Mumbai portfolio during the first quarter of FY26. These projects, located in GTB Nagar, Lokhandwala Cluster, and Swarganga CHSL, add 3.25 million sq ft of saleable area with an estimated Gross Development Value (GDV) of ₹7,727 crore. These projects underscore Rustomjee Group’s commitment to revitalizing and modernizing the urban landscape in Mumbai.
In terms of financial performance, Rustomjee Group reported its highest-ever quarterly pre-sales of ₹1,068 crore in Q1FY26, representing a 75% year-on-year increase. However, the company’s consolidated net profit fell 44% to ₹14.51 crore from ₹25.82 crore in the same quarter last year. Total income also dropped to ₹288.64 crore in Q1FY26 from ₹437.20 crore a year ago.
Despite the financial challenges, Irani remains optimistic about the company’s future. “Our focus on large-scale township projects and redevelopment in MMR will continue to drive our growth. We are confident that our expansion into Pune and other cities will open new opportunities and contribute to our long-term success,” he concluded.
Rustomjee Group’s strategic expansion and focus on high-demand segments position it well to navigate the evolving real estate market in India. As the company continues to explore new opportunities, it aims to deliver quality projects that meet the needs of diverse customer segments.
Frequently Asked Questions
What is Rustomjee Group planning to do in Pune?
Rustomjee Group is planning to enter the Pune real estate market with two potential township projects on land parcels of around 100 acres each.
When is Rustomjee Group expected to launch projects in Pune?
The company expects to launch its projects in Pune by next year, following the announcement and launch of a project in Nagpur.
What is Rustomjee Group's primary focus in the Mumbai Metropolitan Region (MMR)?
Rustomjee Group's primary focus in MMR is on redevelopment projects and large-scale township developments, particularly in the mid-mass and aspirational segments.
How did Rustomjee Group perform financially in Q1FY26?
In Q1FY26, Rustomjee Group reported its highest-ever quarterly pre-sales of ₹1,068 crore, but its consolidated net profit fell 44% to ₹14.51 crore from ₹25.82 crore in the same quarter last year.
What segments of the market is Rustomjee Group targeting in MMR?
Rustomjee Group is focusing on the mid-mass and aspirational segments, particularly in the ₹1 crore to ₹7 crore range, with a special emphasis on the ₹3.5 crore to ₹5 crore segment.
Related News Articles
Mumbai's Sky-High Ambitions: Exploring the City's Love for Skyscrapers
As Mumbai continues to grow
Mumbai Records Third-Highest Surge in Luxury Housing Prices Globally
Mumbai's prime residential prices surge 11.5% year-on-year, ranking third globally, as India's economic growth drives demand in luxury housing market.
Affordable Housing Supply Dries Up as Builders Focus on Premium Projects
The latest data from JLL India reveals a 21% decline in affordable housing supply below Rs 50 lakh, while premium projects saw a significant surge in demand.
Priyanka Chopra's Real Estate Empire: A Peek into Her Investments
Priyanka Chopra Jonas is a keen investor in the real estate space, owning multiple properties in India and the US. Here's a look at her recent transactions.
Uber and Heads Up for Tails Expand Pet-Friendly Rides in Delhi and Mumbai
Uber has partnered with Heads Up for Tails to offer pet-friendly rides in Delhi and Mumbai, making travel more convenient and comfortable for pet owners.
Blackstone and Sattva-backed REIT Files Draft Papers for ₹7000 Cr IPO
A real estate investment trust (REIT) backed by asset manager Blackstone Group and Bengaluru developer Sattva Group has filed its draft papers with the Securities and Exchange Board of India (SEBI) for a ₹7000 crore initial public offering (IPO).