Mumbai-based real estate developer Rustomjee (Keystone Realtors) has completed the acquisition of 8,800.74 square metres of floor space index (FSI) for ₹143.45 crore from Parth Construction. According to deal-related documents accessed via CRE Matrix, a real estate data analytics firm, the FSI will be transferred from Parth Construction's slum rehabilitation authority (SRA) project in Jogeshwari East to Rustomjee's project in Andheri. The transaction also includes 24 car parking spaces and was registered on June 16, 2026, with Rustomjee paying a stamp duty of ₹8.6 crore.
As reported by Business Standard, Rustomjee stated that it "continually assess opportunities aligned with our long-term growth strategy and will make disclosures as and when required under applicable regulations." The acquisition represents part of the company's expansion strategy to enhance its development capabilities in Mumbai's prime real estate markets. The FSI transfer from Jogeshwari East to Andheri project demonstrates the company's focus on optimizing its land bank for maximum development potential.
According to Business Standard, Rustomjee delivered exceptional financial results in fiscal year 2025-26 (FY26), with pre-sales growing 33% year-on-year to ₹4,022 crore, surpassing its annual pre-sales guidance of ₹4,000 crore. The company's collections grew 13% YoY to ₹2,621 crore in FY26, while it launched seven projects with a gross development value (GDV) of ₹9,813 crore. In terms of business development, Rustomjee added five projects to its portfolio in FY26 with an estimated GDV of ₹10,420 crore, surpassing its annual guidance of ₹6,000 crore.
As reported by Business Standard, Rustomjee has outlined ambitious growth targets, aiming to achieve annual sales of ₹10,000 crore by FY30 through its three-pronged approach of velocity, scale and stability. Velocity will come from other areas of residential development such as plotted developments and senior living, scale from expanding into other cities, and stability from commercial real estate. For FY27, the company has guided pre-sales of around ₹5,000 crore, while launches and project additions are expected to be about ₹8,000 crore each.
