Rustomjee is the brand name under which Keystone Realtors Limited, incorporated in 1995, has built its business across the Mumbai Metropolitan Region for close to three decades. Keystone Realtors' presence in the MMR market for two and half decades, together with its construction quality, execution and delivery capabilities, has enabled it to establish the Rustomjee brand in the MMR. The company is promoted by Boman Rustom Irani, Percy Sorabji Chowdhry and Chandresh Dinesh Mehta, and is listed on the NSE and BSE after a mainboard IPO that opened in November 2022. Nagpur marks a deliberate step outside that home market, and Pardi Nagar is where that step has been taken.
Keystone Realtors' wholly owned subsidiary, Keybloom Realty, acquired land admeasuring approximately 13,473 square meters situated at Pardi, Nagpur. Keybloom Realty entered into a sale deed on 17 February 2025 for this land, describing it as a strategic opportunity to enter the high growth geography with rapid growth of infrastructure at Nagpur, with a limited investment of Rs 20 crore to participate in the larger land parcel envisaged to be developed. Company disclosures classify the Pardi parcel within the mid and mass housing segment, and it appears in Keystone's FY25 land-bank additions alongside its ongoing Mumbai and Thane projects. Subsequent investor commentary has pegged the potential project value of this Nagpur entry at roughly Rs 1,000 crore in Gross Development Value, part of a broader push in which the company added new parcels worth Rs 4,783 crore in GDV during FY25 alone.
Rustomjee Group has acquired land of approximately 13,473 square meters situated at Pardi, Nagpur, to be developed as a plotted residential project, Rustomjee Plots Nagpur. The project offers customizable residential plots where buyers can design and build homes according to their lifestyle and budget. The location has connectivity with NH-44, Outer Ring Road, Umred Road, Bhandara Road, and Dr. Babasaheb Ambedkar International Airport. The airport is about 14 km away, roughly a 25-minute drive. The site is also close to MIHAN and major industrial hubs, and to the Nagpur-Mumbai Expressway corridor.
Amenity planning for the layout follows the pattern Rustomjee has used in its larger Mumbai and Thane gated communities, scaled to a plotted format. Planned amenities include a swimming pool, clubhouse, party hall, dedicated parking, sports area, walking and jogging paths, a cycling track, kids' play area, a seniors' deck, power backup and a yoga lawn. Plot buyers get the flexibility of phased construction, a format increasingly favoured by Nagpur buyers who want to control both design and outlay over time.
Rustomjee's core competence has historically been urban redevelopment and vertical gated communities in land-constrained Mumbai suburbs. The company has commanded a market share of 28% in Khar, 23% in Juhu, 11% in Bandra East, 14% in Virar, 3% in Thane and 5% in Bhandup in terms of unit absorption between 2017 and 2021. Notable projects on that portfolio include Rustomjee Elements in Upper Juhu, Rustomjee Paramount in Khar, Rustomjee Seasons in Bandra Annexe, and Rustomjee Crown, a 5.75-acre high-end development at Prabhadevi with three high-rise towers. Its Thane township, Rustomjee Urbania, is certified by the Indian Green Building Council, and the Natraj By Rustomjee commercial project carries LEED certification. As of its IPO filing, the company had delivered 32 completed projects and roughly 20.22 million square feet of built area, mostly across MMR. Nagpur is a different product for the same brand: a low-rise, land-led format aimed at a Tier-2 buyer who wants a plot rather than an apartment, backed by a developer whose name is established through decades of high-density Mumbai delivery.
Pardi sits off Bhandara Road on Nagpur's eastern side, within reach of the Kalamna and Bhandewadi rail points and the city's Outer Ring Road. Its relevance to a Rustomjee buyer is tied directly to the infrastructure programme reshaping Nagpur's periphery. Colliers ranks Nagpur in the No. 1 position among the emerging real estate markets across 30 Tier-II cities. The Mumbai-Nagpur Samruddhi Mahamarg was completed at its full 701-kilometre length in June 2025, cutting travel time between the two cities from nearly 16 hours to about 8 hours. The Multi-modal International Cargo Hub and Airport at Nagpur, one of India's largest economic zones, already has over 40 multinational companies either operational or acquiring land there.
That combination of an expressway link to Mumbai and a functioning employment hub at MIHAN is precisely the kind of setup that has historically drawn branded MMR developers to enter Tier-2 markets. The south-east corridor running from Wardha Road and Besa toward MIHAN and along the Samruddhi Mahamarg has been one of Nagpur's more active property zones, where the employment anchor of the SEZ, the airport and the expressway overlap and land values tend to respond more strongly than the city average. Umred Road, one of the arteries feeding Pardi Nagar, has itself seen sharp movement: Umred Road recorded 50% price growth over three years, emerging as an affordable housing hub with good infrastructure.
Rustomjee has not published unit-level pricing for the Pardi plots as an open listing; rates are shared directly with prospective buyers based on plot size and location within the layout. For context, general market data along nearby corridors gives a sense of the range: nearby areas like Pardi, Umred Road and Jamtha show land rates from roughly ₹2,500 to ₹4,000 per sq ft, with premium locations going higher. Nagpur as a whole saw a 23% rise in property prices in 2024. Citywide, the broader Samruddhi corridor has seen even sharper long-run moves: land prices near the Samruddhi Circle area have increased by nearly 3.7 times compared to 2015, with projections estimating a 5.2 times rise by 2035.
Keystone Realtors' scale gives the Nagpur entry a financial backbone that smaller regional developers typically lack. The company reported pre-sales of ₹3,028 crore for FY25, a 34% year-on-year increase that exceeded its own target, and has set a pre-sales target of ₹4,000 crore for FY26. FY25 net profit grew 69% to ₹188.13 crore. That growth has been funded by an aggressive land-acquisition programme across formats and geographies, of which the Pardi parcel is one entry among several new additions logged in FY25, alongside projects in Versova, Goregaon and Worli in Mumbai.
For a buyer evaluating Rustomjee Plots Nagpur, the proposition rests on two distinct threads coming together: a developer whose brand discipline was built over 30 years of dense Mumbai redevelopment, now applying that same execution standard to a plotted, lower-density format in a city where infrastructure spend is running well ahead of current pricing. Proximity to MIHAN and the Nagpur-Mumbai Expressway is positioned as the driver of future value appreciation for the layout. Buyers get the flexibility of a plot with the assurance of a listed, RERA-experienced developer whose Mumbai portfolio spans affordable to super-premium categories, rather than a purely local, single-city builder.