Keystone Realtors, also known as Rustomjee Group, a listed real estate developer from Mumbai, announced on February 16 that the firm is chosen for the redevelopment project in Andheri, Mumbai. The project includes eight housing societies with a revenue potential of ₹1,775 crore.

• The redevelopment will provide new homes for all 637 current members while unlocking roughly 5 lakh sq ft of RERA carpet area for open sale, generating an estimated ₹1,775 crore in Gross Development Value (GDV), according to the company.
• The eight housing societies of Om Nagar Co-operative Housing Society Federation Limited are located in Mumbai area's Andheri East.
• The redevelopment project will take place on the combined land which measures around 20,569.90 square meters.

Boman Irani, the Chairman of the Rustomjee Group, recently emphasized that redevelopment will remain a dominant force in Mumbai for at least the next 20 years. He noted that this sector provides significant opportunities for out-of-station developers looking to enter the Mumbai market.

He further added that the redevelopment market in Mumbai provides ample opportunities because of its large market, which is advantageous for the new players entering the Mumbai real estate sector.

1. In 2025, Boman Irani had announced that the firm is planning to launch a new residential development in Bandstand, Bandra, Mumbai with a Gross Development Value (GDV) of approximately ₹3,000 crore.

2. The company had also announced plans to enter the Pune real estate market in 2025 as it is exploring two land parcels of approximately 100 acres for a township project in the city.

With the company's aim to broaden its horizon in the redevelopment market, this project shows the presence of the firm in a strategically significant suburban market. Irani said that this project underscores the company's dedication to location, scale and value creation. The urban redevelopment redefines modernising communities and upgrading the city life for the people.

The company stated that this high-profile redevelopment deal supports its strategy to maintain a varied portfolio across different price points while expanding its presence in Mumbai's rapidly developing western suburbs and securing its future growth pipeline.