Rustomjee Group Expands to Pune, Eyes 100 Acres for Township Projects
Mumbai-based real estate developer, Rustomjee Group, plans to enter the Pune market with a focus on township projects. The company is currently exploring two potential land parcels of around 100 acres.
Real EstatePuneRustomjee GroupBoman IraniTownship ProjectsReal EstateAug 07, 2025
This will be the third city for the company to enter after it announced its foray into the Nagpur real estate market around three months ago. According to Irani, the company is studying two proposals in a joint development (JD) model for the Pune real estate market. The focus is on large-scale projects, similar to what the company has developed in the Mumbai Metropolitan Region (MMR).
“We are exploring projects for Pune currently, and any new entry in a new city will not happen immediately but only by next year. We have announced a project in the Nagpur real estate market, and we will soon announce the launch of that first and later get into Pune. However, it goes without saying our major focus remains to be MMR and redevelopment of old buildings in MMR,” Irani said.
Rustomjee Group is known for its township projects, which have been a significant part of its portfolio in the MMR. The company's strategy in Pune is to replicate this success by focusing on large, integrated developments that offer a mix of residential, commercial, and recreational spaces.
When asked about the current state of the Mumbai real estate market, Irani noted that interest varies across different segments. “In certain pockets, the interest is very high, and in certain pockets, the interest is not that great. Affordable housing is not doing that great, but the mid-mass and aspirational segment in the range of ₹1 crore to ₹7 crore is seeing high demand, and the supply is not adequate. The ₹5 crore sweetspot is a continuously growing market for Mumbai city, and ₹1 crore to ₹3 crore will always be the darling,” he added.
The company has also been focusing on redevelopment projects in Mumbai. In the first quarter of FY26, Rustomjee Group announced three redevelopment projects for its Mumbai portfolio, including GTB Nagar, Lokhandwala Cluster, and Swarganga CHSL. These projects add 3.25 million sq ft of saleable area with an estimated Gross Development Value (GDV) of ₹7,727 crore.
In total, the company has around 18 ongoing projects in MMR measuring around 8.61 million sq ft and has 26 projects upcoming of around 23.79 million sq ft. Sixteen out of these 26 projects are in the price range of ₹1 crore to ₹7 crore, catering to the mid-mass and aspirational segments.
On the financial front, Rustomjee Group reported its highest-ever quarterly pre-sales of ₹1,068 crore in Q1FY26, up 75% year-on-year. However, its consolidated net profit fell 44% to ₹14.51 crore from ₹25.82 crore in the same quarter last year. Total income dropped to ₹288.64 crore in Q1FY26 from ₹437.20 crore a year ago.
Despite these challenges, the company remains optimistic about its future growth, particularly in the Pune market. The focus on township projects and redevelopment initiatives in MMR is expected to drive the company's expansion and strengthen its market position.
Frequently Asked Questions
What is Rustomjee Group's plan in Pune?
Rustomjee Group plans to enter the Pune real estate market with a focus on township projects. The company is currently exploring two potential land parcels of around 100 acres for these projects.
What other cities has Rustomjee Group entered recently?
Rustomjee Group recently announced its foray into the Nagpur real estate market. Pune will be the third city for the company to enter.
What is Rustomjee Group's main focus in the Mumbai real estate market?
Rustomjee Group's main focus in the Mumbai real estate market is on the redevelopment of old buildings and township projects. The company is particularly interested in the mid-mass and aspirational segments in the range of ₹1 crore to ₹7 crore.
What are the financial highlights of Rustomjee Group in Q1FY26?
In Q1FY26, Rustomjee Group reported its highest-ever quarterly pre-sales of ₹1,068 crore, up 75% year-on-year. However, its consolidated net profit fell 44% to ₹14.51 crore from ₹25.82 crore in the same quarter last year.
What is the Gross Development Value (GDV) of Rustomjee Group's redevelopment projects in Mumbai?
Rustomjee Group's redevelopment projects in Mumbai, including GTB Nagar, Lokhandwala Cluster, and Swarganga CHSL, have an estimated Gross Development Value (GDV) of ₹7,727 crore.
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