The biggest bet for Boman Irani — CMD of Mumbai-based realty major Keystone Realtors Ltd (also known as Rustomjee Group) — is currently the ₹5-crore apartment market, while properties in the ₹1-crore to ₹3-crore range will remain his ‘darling’ forever.

Irani noted that property demand in Mumbai varies significantly by location. “Some pockets are witnessing strong interest, while others are seeing relatively muted activity. In the mid-mass and aspirational segment — priced between ₹1 crore and ₹7 crore — demand remains robust, but supply is limited. In particular, in Mumbai’s sweet spot of ₹3.5 crore to ₹5 crore, we see substantial buyer interest,” he said.

Highlighting the diversity of the Mumbai Metropolitan Region (MMR), Irani described it as “eight to nine markets in one,” with a wide range of sizes, price points, and requirements. “If you can identify where your product will work, you will be able to sell over time. My big bet is on the ₹5 crore sweet spot, which I see as a steadily growing market in Mumbai, while ₹1 crore to ₹3 crore will always be the darling,” he said.

The Rustomjee Group also plans to foray into the Pune real estate market. Irani told HT.com last week that the company is currently exploring two potential land parcels of around 100 acres for a township project in the Pune real estate market.

This will be the third city for the company to enter after it announced its foray into the Nagpur real estate market around three months ago.

“We are studying two proposals right now in a joint development (JD) model for the Pune real estate market, and I can say they are for a size of around 100 acres. We want to do township, and that is what we have done in the Mumbai Metropolitan Region (MMR). I am not saying we did 100 acres in MMR, but large projects,” Irani said.

“We are exploring projects for Pune currently, and any new entry in a new city will not happen immediately, but only by next year. We have announced a project in the Nagpur real estate market, and we will soon announce the launch of that first and later get into Pune. However, it goes without saying our major focus remains to be MMR and redevelopment of old buildings in MMR,” Irani said.

The company has announced three redevelopment projects for its Mumbai portfolio during the first quarter of FY26. These include GTB Nagar, Lokhandwala Cluster, and Swarganga CHSL, adding 3.25 million sq ft of saleable area with an estimated GDV of ₹7,727 crore.