Rustomjee Group Eyes Pune Real Estate Market, Aims for 100-Acre Township Projects
Rustomjee Group, led by CMD Boman Irani, is set to explore the Pune real estate market with plans for large-scale township projects. The company is currently evaluating two joint development proposals for around 100 acres of land.
Real EstatePuneRustomjee GroupTownship ProjectsBoman IraniReal Estate NewsAug 07, 2025
This move marks the third city for the company, following its recent foray into the Nagpur real estate market three months ago. Irani shared with HT.com that the company is studying two proposals in a joint development (JD) model for the Pune market, aiming to replicate the success of their large-scale projects in the Mumbai Metropolitan Region (MMR).
“We are currently exploring projects for Pune, 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 explained.
The Rustomjee Group has a strong track record in developing large-scale projects, particularly in MMR. Irani emphasized, “We want to do township projects, and that is what we have done in MMR. I am not saying we did 100 acres in MMR, but large projects.” This strategy aligns with the company’s vision to capitalize on the growing demand for well-planned, integrated communities.
In terms of market dynamics, Irani noted that while interest in certain pockets of the Mumbai real estate market remains high, the affordable housing segment is not performing as well. “In certain pockets, the interest is very high, and in certain pockets, the interest is not that great. The mid mass and aspirational segment in the ₹1 crore to ₹7 crore range, the demand is high, and the supply is not adequate. Whenever you say for Mumbai, when you hit the sweetspot of ₹3.5 crore to ₹5 crore, we find a good amount of interest.”
The company has also been focusing on redevelopment projects in Mumbai. In the first quarter of FY26, Rustomjee Group announced three redevelopment projects in its Mumbai portfolio, including GTB Nagar, Lokhandwala Cluster, and Swarganga CHSL, adding 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, totaling around 23.79 million sq ft. Sixteen of these upcoming projects are in the price range of ₹1 crore to ₹7 crore, catering to the mid and aspirational segments of the market.
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 the challenges, the company remains optimistic about its growth prospects in the Pune and Nagpur markets, as well as its ongoing and upcoming projects in MMR. The focus on large-scale township projects and redevelopment initiatives is expected to drive the company’s future growth and strengthen its market position.
Frequently Asked Questions
What is Rustomjee Group planning to do in Pune?
Rustomjee Group is exploring two potential land parcels of around 100 acres for township projects in Pune. The company is currently studying these proposals in a joint development model.
Which cities has Rustomjee Group already entered?
Rustomjee Group has already announced its foray into the Nagpur real estate market. Pune will be the third city for the company.
What is the current focus of Rustomjee Group in the Mumbai real estate market?
Rustomjee Group is focusing on redevelopment projects in Mumbai, particularly in the mid and aspirational segments of the market, ranging from ₹1 crore to ₹7 crore.
What was Rustomjee Group's financial performance in Q1FY26?
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.
What is the company's strategy for large-scale projects?
Rustomjee Group aims to develop large-scale township projects, similar to what they have done in the Mumbai Metropolitan Region (MMR). The company is looking to replicate this success in Pune and other new markets.
Related News Articles
India's Office Leasing Market Sees Significant Growth in H1 2024
Office leasing in India touches 32.8 mn sq ft in H1 2024, driven by Global Capability Centres and tech firms.
Revamping Slums: Dharavi's Redevelopment Model to Inspire Other States
Dr. Niranjan Hiranandani, Chairman of Hiranandani Group, believes the Dharavi redevelopment scheme will set a new standard for slum redevelopment across India.
Luxury Real Estate on the Rise: Yohan and Michelle Poonawalla's 30,000 sq ft Mansion in South Mumbai
High-net-worth individuals flock to South Mumbai for luxurious properties, driving up demand and transforming the real estate landscape.
Real Estate Director Arrested in Connection with Hathras Land Scam
Gautam Buddha Nagar Police have apprehended the director of a real estate firm in connection with the Hathras land scam involving irregularities in land acquisition.
Mumbai's Skyline Set for a Major Overhaul with Proposed High-Rise Height Limits
The Maharashtra government is considering raising the height limit for high-rise buildings in Mumbai, which could reshape the city's skyline. The real estate sector is optimistic about the potential benefits of this move.
Casagrand Millenia Secures Major Land Acquisition in Pune for Rs 126 Crore
Casagrand Millenia, a leading real estate developer, has made a significant move by acquiring 1.18 hectares of land in Pune for Rs 126 crore. The strategic acquisition is expected to bolster the company's presence in one of India's most promising real est