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Rustomjee Group adds three redevelopment projects worth ₹7,727 crore to its Mumbai portfolio
Boman Irani, chairman and managing director of Rustomjee Group, said that redevelopment opportunities in Mumbai remain a key strategic focus for the company
Mumbai-based listed real estate developer Keystone Realtors Ltd (Rustomjee Group) announced on July 7 that it has added three redevelopment projects to the Mumbai market in the first quarter of FY26, with a combined gross development value (GDV) of ₹7,727 crore.
The company announced that in Q1 FY26, pre‑sales were ₹1,068 crore, up from ₹611 crore in Q1 FY25, a 75% Year-on-Year (YoY) increase, marking the company’s best-ever Q1 pre-sales.
According to the company, its Q1 FY26 collections stood at ₹575 crore, compared to ₹485 crore in Q1 FY25, reflecting a 19% YoY growth.
The company said that three projects launched in Q1 FY26 feature a combined saleable area of 0.91 million sq ft and an estimated GDV of 4,000 crore, about 57% of the FY26 full-year target was achieved this quarter.
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Rustomjee Group adds three Mumbai redevelopment projects to its portfolio in Q1 FY26
The company announced the addition of three redevelopment projects to its Mumbai portfolio during the first quarter of FY26.
"We added three redevelopment projects, GTB Nagar, Lokhandwala Cluster, and Swarganga CHSL, adding 3.25 million sq ft of saleable area with an estimated GDV of ₹7,727 crore, reinforcing its leadership in the redevelopment space," the company said in a regulatory filing.
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The company said that the credit rating agency ICRA has upgraded its credit rating to ‘ICRA A+’ with a stable outlook and ‘ICRA A’ with a positive outlook.
“Q1FY26 has laid a strong foundation for the year, marking a pivotal moment for our company as we build on the solid momentum carried over from FY25. We recorded Pre-Sales of INR 1,068 crore, reflecting a robust 75% year-on-year growth. With this, we have already surpassed our full-year FY26 guidance for new additions," Boman Irani, CMD of Keystone Realtors.
"Mumbai's redevelopment opportunities continue to be a key strategic focus, and our leadership in this segment positions us well to harness the potential it offers. Our outstanding performance in both business development and new launches underscores our agility in capturing market opportunities and driving sustained growth. We remain confident in our ability to maintain a strong growth trajectory in both acquisitions and project launches throughout the remainder of the year. We are confidently poised to deliver substantial value to all stakeholders as we navigate through this year," Irani said.
