Latest news with #RustomjeeGroup
Business Standard
4 days ago
- Business
- Business Standard
Rustomjee Group Unveils Balmoral Golf Links: A Premium Gated Community Offering Exclusive Golf Course Views in Chembur with a GDV of ~Rs. 1,600 Cr
VMPL Mumbai (Maharashtra) [India], June 4: Rustomjee Group, one of Mumbai's most respected real estate developers, is proud to announce the launch of Rustomjee Balmoral Golf Links -- a limited-edition, luxury residential development nestled in the rapidly transforming neighbourhood of Chembur, Mumbai anticipating a GDV of ~Rs. 1,600 Crore. Focused on offering exclusivity and space in the heart of the city, Rustomjee Balmoral Golf Links redefines low-density, high-design urban living. This gated 4.2-acre estate comprises just 144 exclusive 3, 4, and 5 Bed residences across four towers, with homes ranging from 1,399 to 3,068 sq. ft. Each floor accommodates only two apartments, ensuring optimum privacy, expansive layouts, and stunning views of the adjoining 88-acre Bombay Presidency Golf Course -- a rare offering in Mumbai's residential landscape. Designed by celebrated architect Hafeez Contractor, with interior planning by Patty Mak, the project has been envisioned as an organic extension of the surrounding golf greens. The landscape architecture by COEN Design International from Singapore introduces over one acre of vehicle-free, immersive green zones to encourage quietude, wellness, and community interaction. Five verdant landscape zones -- The Forest, The Grove, The Meadow, The Park, and The Garden -- form a continuous natural spine that adds character and tranquility to the overall experience. Boman Irani, Chairman and Managing Director of Rustomjee Group, commented: "Chembur has always stood out for its location, connectivity and strong community fabric. With Balmoral Golf Links, located alongside Mumbai's 88-acre golf course, we're offering residents rare access to expansive green views and a sense of openness that's hard to find in the city. Our continued belief in Chembur's potential drives us to create low-density, thoughtfully planned homes that add real value to the neighbourhood and reflect our long-term commitment to this market." Elevating the lifestyle quotient further is a curated bouquet of amenities led by a well-appointed clubhouse overlooking the golf course designed to be like a jewel box amidst the green oasis. The project features a swimming pool, state-of-the-art fitness centre, alfresco dining areas, and thoughtfully designed spaces for multi-generational living. Children can explore play areas like a treehouse and adventure garden, while adults benefit from wellness-focused elements like a meditation walkway, jogging track, open-air fitness pods, and senior citizen zones. Rooted in a "Me, We, Us" spatial philosophy, Rustomjee Balmoral Golf Links facilitates seamless movement between private, semi-private, and communal spaces. It includes an event lawn with amphitheatre, WFH pavilions, gathering zones, pet park, and kitchen garden -- creating a balanced lifestyle that nurtures solitude, family time, and community engagement. What distinctly sets Rustomjee Balmoral Golf Links apart is its unparalleled location combined with the exclusivity of limited availability. With the longest continuous golf course frontage in the vicinity, the project offers a distinguished arrival experience and a view that's increasingly scarce in Mumbai. Add to this excellent connectivity to Eastern Express Highway, BKC, Bandra, Navi Mumbai, and the upcoming metro and coastal road networks, and it becomes clear that Rustomjee Balmoral Golf Links is not just an investment in a home -- but in a lifestyle that will be increasingly hard to replicate. About Rustomjee Group: Founded in 1996, Rustomjee Group is one of Mumbai's leading real estate developers with a strong reputation for quality, innovation, and customer focus. With over 26 million square feet of delivered projects across MMR, Rustomjee has created landmark developments in BKC, South Mumbai, Juhu, Thane, Borivali, and Virar. Known for integrating design excellence with thoughtful community building, the Group continues to redefine urban living standards across the city.
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Business Standard
4 days ago
- Business
- Business Standard
Need to serve all asset classes across MMR: Keystone Realtors CMD
Boman Irani said that the company will launch a senior living project, get into data centers and will divest 3.35 per cent to meet Sebi norms to partially fund capex Mumbai Listen to This Article Despite a moderation in the demand for housing across the Mumbai metropolitan region (MMR), city-based Keystone Realtors, which operates the Rustomjee brand, expects growth to double over the next three to four years. Boman Irani, chairman and managing director, Rustomjee Group, in a face-to-face interview with Prachi Pisal, tells that the company will launch a living project for seniors, get into data centres and divest 3.35 per cent to meet Sebi norms, to partially fund capex. Edited excerpts: What does FY26 look like for the company compared to FY25? We have tied up 22 projects worth about Rs 17,800 crore
Hindustan Times
29-05-2025
- Business
- Hindustan Times
Maharashtra Housing Policy 2025 offers major benefits for senior living buyers; Stamp duty reduced to flat ₹1,000
The Maharashtra government has finalised the Housing Policy 2025, introducing significant incentives for senior living housing projects. Under the new policy, stamp duty for buyers of such properties has been reduced to a flat ₹1,000, down from the current 5% to 7% of the property's value, depending on the location. In addition to the reduced stamp duty, the government will offer property tax concessions for owners of senior living homes. Developers of these projects will also benefit from various tax relaxations and enhanced Floor Space Index (FSI) allowances. This is Maharashtra's first comprehensive housing policy in nearly two decades. Announced last week, it addresses modern housing concepts such as senior citizen housing and student accommodation, aiming to promote inclusive and future-ready urban development. As part of the Maharashtra Housing Policy 2025, the state government plans to redevelop ageing and dilapidated old-age homes and orphanages located on government land. These facilities will be upgraded and integrated with senior citizen housing projects to better accommodate the growing elderly population. According to the policy, Maharashtra's elderly population accounted for around 10% of the total as per the 2011 Census, higher than the national average. This figure is projected to rise significantly, reaching 17% by 2036. The policy also highlights a shift in social structure, noting that joint families are increasingly giving way to nuclear households, creating a greater demand for independent senior living facilities. The government sees this redevelopment as a crucial step toward addressing the evolving housing and care needs of the elderly. Also Read: Maharashtra approves new housing policy after nearly two decades: 5 key highlights According to market sources, leading real estate developers such as Rustomjee Group and Dosti Realty are preparing to launch dedicated senior living housing projects in Maharashtra in the coming months. To promote this segment, the Maharashtra government, under its Unified Development Control and Promotion Regulations (UDCPR), has introduced a separate category for senior citizen housing or retirement homes. These guidelines are part of the recently announced Maharashtra Housing Policy 2025, which aims to foster inclusive and age-friendly urban development. These measures aim to attract private investment into the senior housing sector while ensuring that the needs of elderly residents are met through thoughtful planning and infrastructure. Also Read: Dharavi redevelopment project gets a push as master plan receives Maharashtra government's approval Real estate developers have welcomed the Maharashtra government's new housing policy, particularly the relaxations and incentives for senior and student housing. They see the move as a progressive step toward addressing the evolving housing needs of specific demographic groups while encouraging private sector participation in these emerging segments. 'Addressing the growing demand for elderly-friendly housing is the need of the hour, and the Maharashtra government's new housing policy has a special mention of this. These actions will help the growth of senior living projects by making development more viable and attractive. Our understanding is that these policy reforms will benefit senior living housing projects in Maharashtra and set a benchmark through thoughtfully designed and well-supported developments," said Anuj Goradia, director of Mumbai-based Dosti Realty. Also Read: Rustomjee Group plans to launch senior living and plotted development projects: Boman Irani The apex body of real estate developers, CREDAI-MCHI, has also welcomed the policy.
Business Standard
14-05-2025
- Business
- Business Standard
Keystone Realtors gains after Q4 PAT soars to Rs 65 cr
Keystone Realtors advanced 1.58% to Rs 524.40 after the company's consolidated net profit surged 111.21% to Rs 64.80 crore, despite a 27.94% decline in revenue from operations to Rs 584.85 crore in Q4 FY25 over Q4 FY24. Profit before tax (PBT) soared 105.55% to Rs 86.62 crore in Q4 FY25, compared with Rs 42.14 crore in Q4 FY24. EBITDA stood at Rs 107 crore, registering the growth of 59.7%, compared with Rs 67 crore posted in corresponding quarter last year. EBITDA margin expanded to 16.7% in Q4 FY25 as against 8.1% in Q4 FY24. Pre-sales rose 1% to Rs 854 crore in Q4 FY25, compared to Rs 843 crore posted in the same quarter last year. Collections grew 11% to Rs 747 crore in Q4 FY25, up from Rs 670 crore in Q4 FY24. In Q4 FY25, the area sold jumped 53% to 0.58 million square feet, compared with 0.38 million square feet in Q4 FY24. During the quarter, the company added 3 projects with an estimated gross development value (GDV) of Rs 1,487 crore. Gross Debt stands at around Rs 316 crore and gross debt/equity ratio is 0.12 as on Q4FY25. On full year basis, the companys consolidated net profit jumped 53.25% to Rs 171.96 crore, despite a 9.82% decline in revenue from operations to Rs 2,004.10 crore in FY25 over FY24. During FY25, the company added 9 projects with an estimated GDV of Rs 4,783 crore surpassing its FY25 guidance of Rs 4,000 crore. On outlook front, the company said that Mumbai Metropolitan Region (MMR) real estate industry is on a promising growth trajectory, offering abundant opportunities for the Rustomjee Group. With a strong focus on redevelopment, expansion within the MMR region, and the competitive advantage of the companys unique strengths, It is well-positioned for sustained success. The company further noted that asset-light business model, effective stakeholder management, customer-centric approach, technological advancements, reliable vendor relationships, and experienced leadership team will continue to drive growth and deliver exceptional value. It operates across a wide spectrum of housing segments and is confident of continuing as a dominant developer and a preferred partner in (re)development projects. Boman Irani, chairman and managing director, Keystone Realtors, said, Im pleased to share that we have successfully achieved most of our guidance on operational parameters for FY25 with the Pre-Sales guidance for FY25 demonstrating strong execution and market alignment in the pre-sales phase, thanks to a series of strong launches of 7 projects having GDV of Rs 5,019 crore in FY25. Im excited to report that our Pre-Sales for Q4FY25 have reached Rs 854 crore and for FY25 Pre-Sales have reached Rs 3,028 crore reflecting a 34% YoY growth. With collections efficiency of approximately 77% we have strong collections of Rs 2,327 crore in FY25 compared to Rs 2,203 crore in FY24. In FY25, we added 9 projects with GDV of Rs 4,783 crore further reinforcing our growth trajectory. In FY25 we completed 5 projects with construction area totaling 0.72 mn sqft. The demand for our products remains robust, and were excited about the strong pipeline of upcoming launches for FY26. Our asset-light model, with a focus on redevelopment opportunities, particularly in Mumbai MMR, continues to be a key driver of growth. Meanwhile, the companys board recommended a final dividend of Rs 1.50 per equity share of Rs 10 each for the financial year ended March 31, 2025, subject to the approval of shareholders at the ensuing annual general meeting(AGM). The company has fixed the record date as Friday, 23 May 2025. Keystone Realtors is a prominent real estate developer based in the Mumbai Metropolitan Region (MMR).
