Rustomjee Group Expands Mumbai Portfolio with Three Major Redevelopment Projects
Mumbai-based real estate developer Rustomjee Group announces the addition of three redevelopment projects worth ₹7,727 crore to its Mumbai portfolio, marking a significant boost to its growth in the city.
Mumbai Real EstateRedevelopment ProjectsRustomjee GroupKeystone RealtorsGross Development ValueReal Estate NewsJul 07, 2025
The projects, GTB Nagar, Lokhandwala Cluster, and Swarganga CHSL, add 3.25 million sq ft of saleable area to Rustomjee Group's portfolio. This significant addition is a testament to the company's commitment to leveraging redevelopment opportunities in the city, reinforcing its leadership in this segment.
Boman Irani, chairman and managing director of Rustomjee Group, said, “Redevelopment opportunities in Mumbai remain a key strategic focus for the company. Our leadership in this segment positions us well to harness the potential it offers. The addition of these three projects is a pivotal moment for our company, building on the solid momentum carried over from FY25.”
In Q1 FY26, Rustomjee Group achieved pre-sales of ₹1,068 crore, marking a 75% Year-on-Year (YoY) increase from ₹611 crore in Q1 FY25. This performance sets a strong foundation for the year, with the company already surpassing its full-year FY26 guidance for new additions. The company's collections for the quarter stood at ₹575 crore, a 19% YoY growth from ₹485 crore in Q1 FY25.
The three new projects feature a combined saleable area of 0.91 million sq ft and an estimated GDV of ₹4,000 crore, achieving about 57% of the FY26 full-year target in this quarter. This remarkable performance highlights the company's agility in capturing market opportunities and driving sustained growth.
Rustomjee Group's strategic focus on redevelopment is not just about adding to its portfolio but also about contributing to the urban renewal of Mumbai. The projects are expected to bring modern, high-quality living spaces to the city, enhancing the quality of life for residents.
The credit rating agency ICRA has also upgraded Rustomjee Group's credit rating to ‘ICRA A+’ with a stable outlook and ‘ICRA A’ with a positive outlook, reflecting the company's financial health and strong market position.
“We are confidently poised to deliver substantial value to all stakeholders as we navigate through this year,” Irani added. “Our outstanding performance in both business development and new launches underscores our commitment to maintaining a strong growth trajectory in acquisitions and project launches throughout the remainder of the year.”
Mumbai's redevelopment market continues to be a key area of focus for Rustomjee Group, and the company is well-positioned to capitalize on the opportunities it presents. With a strong pipeline of projects and a solid financial performance, Rustomjee Group is set to continue its leadership in the redevelopment segment and drive sustainable growth in the coming years.
Frequently Asked Questions
What are the three new redevelopment projects added by Rustomjee Group in Mumbai?
The three new redevelopment projects added by Rustomjee Group in Mumbai are GTB Nagar, Lokhandwala Cluster, and Swarganga CHSL.
What is the combined gross development value (GDV) of the three new projects?
The combined gross development value (GDV) of the three new projects is ₹7,727 crore.
How much did Rustomjee Group's pre-sales increase in Q1 FY26 compared to Q1 FY25?
Rustomjee Group's pre-sales increased by 75% in Q1 FY26 compared to Q1 FY25, from ₹611 crore to ₹1,068 crore.
What is the estimated GDV of the three projects launched in Q1 FY26?
The estimated GDV of the three projects launched in Q1 FY26 is ₹4,000 crore.
What is the new credit rating of Rustomjee Group as per ICRA?
The credit rating agency ICRA has upgraded Rustomjee Group's credit rating to ‘ICRA A+’ with a stable outlook and ‘ICRA A’ with a positive outlook.
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