Mumbai-based real estate developer Keystone Realtors Ltd (commonly known as Rustomjee Group) continues its impressive growth trajectory, adding three major redevelopment projects worth ₹7,727 crore to its portfolio in the first quarter of FY26. With a focus on revitalizing Mumbai’s real estate landscape, the group has seen substantial growth in pre-sales and collections, making significant strides towards its ambitious goals for the year.
Rustomjee Group’s Strategic Expansion in Mumbai
In a significant move for its business, Rustomjee Group announced that it had added three redevelopment projects to its Mumbai portfolio in Q1 FY26. These new developments, featuring a combined saleable area of 3.25 million sq. ft., are set to transform key areas of Mumbai. The total estimated Gross Development Value (GDV) of these projects stands at an impressive ₹7,727 crore.
Key Details of the New Projects:
- Project Locations: GTB Nagar, Lokhandwala Cluster, Swarganga CHSL
- Saleable Area: 3.25 million sq. ft.
- Estimated GDV: ₹7,727 crore
- Q1 FY26 Pre-Sales: ₹1,068 crore (75% YoY increase)
- Q1 FY26 Collections: ₹575 crore (19% YoY growth)
Record-Breaking Pre-Sales and Collections in Q1 FY26
Rustomjee Group has shown remarkable performance in Q1 FY26, with pre-sales reaching ₹1,068 crore, up 75% from ₹611 crore in Q1 FY25. This marks the company’s best-ever Q1 pre-sales, demonstrating the strength of its redevelopment projects and market demand.
Additionally, the company’s Q1 collections stood at ₹575 crore, reflecting a 19% year-on-year growth compared to ₹485 crore in Q1 FY25. These positive numbers indicate the strong demand for Rustomjee’s projects and the company’s growing influence in the Mumbai real estate market.
Insights from Key Official:
Boman Irani, Chairman and Managing Director of Keystone Realtors, commented on the stellar performance:
“Q1 FY26 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. With pre-sales of ₹1,068 crore, we have already surpassed our full-year FY26 guidance for new additions.”
He further highlighted the strategic focus on redevelopment opportunities, stating:
“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.”
Credit Rating Upgrade
Adding to its positive momentum, Rustomjee Group received an upgrade from the credit rating agency ICRA, with a new rating of ‘ICRA A+’ with a stable outlook and ‘ICRA A’ with a positive outlook. This upgrade reflects the company’s growing financial strength and its strong position in the real estate sector.
Summary Table
| Category | Details |
|---|---|
| Projects Added | 3 Redevelopment Projects |
| Project Locations | GTB Nagar, Lokhandwala Cluster, Swarganga CHSL |
| Saleable Area | 3.25 million sq. ft. |
| Estimated GDV | ₹7,727 crore |
| Pre-Sales (Q1 FY26) | ₹1,068 crore (75% YoY increase) |
| Collections (Q1 FY26) | ₹575 crore (19% YoY growth) |
| Credit Rating | ICRA A+ (Stable Outlook) and ICRA A (Positive Outlook) |
Frequently Asked Questions (FAQ)
Q1: What are the new redevelopment projects added by Rustomjee Group in Q1 FY26?
A1: Rustomjee Group has added three redevelopment projects in GTB Nagar, Lokhandwala Cluster, and Swarganga CHSL, totaling a saleable area of 3.25 million sq. ft. with an estimated GDV of ₹7,727 crore.
Q2: How much did Rustomjee Group’s pre-sales grow in Q1 FY26?
A2: The pre-sales for Q1 FY26 amounted to ₹1,068 crore, marking a 75% year-on-year growth from ₹611 crore in Q1 FY25.
Q3: What was the YoY growth in collections for Rustomjee Group in Q1 FY26?
A3: Rustomjee Group’s collections for Q1 FY26 stood at ₹575 crore, showing a 19% increase from ₹485 crore in Q1 FY25.
Q4: Which credit rating agency upgraded Rustomjee Group’s rating?
A4: The credit rating agency ICRA upgraded Rustomjee Group’s rating to ‘ICRA A+’ with a stable outlook and ‘ICRA A’ with a positive outlook.
Q5: What is the strategic focus of Rustomjee Group for the future?
A5: Rustomjee Group is focusing on capturing the growth potential in Mumbai’s redevelopment market, with strong leadership in the segment and continued growth in project launches and acquisitions.