Rustomjee is a Mumbai based real estate company, founded by Boman Irani in 1995, and the company was listed as Keystone Realtors on the BSE and NSE. Keystone Realtors fixed a price band of Rs 514-541 a share for its Rs 635-crore initial public offering in November 2022. Shares of the firm, which sells properties under the brand Rustomjee, ended over 3 per cent higher on debut trade, commanding a market valuation of Rs 6,352.08 crore on the BSE. As of March 31, 2022, the company had 32 completed projects, 12 ongoing projects and 19 forthcoming projects across the Mumbai Metropolitan Region, and has developed 20.05 million square feet of residential buildings, premium gated estates, townships, corporate parks, retail spaces, schools and other real estate. It has delivered projects under the affordable, mid and mass, aspirational, premium, and super premium categories, all under the Rustomjee brand.
On S.V. Road, opposite the Goregaon flyover, stands Rustomjee Ozone, a complex of 6 towers offering 2, 2.5 and 3 BHK apartments and penthouses. The project is not a one-time entry for the developer in this pocket. Keystone Realtors' own Q1 FY26 investor update lists Ozone (Phase II), Goregaon (West) among its active mid and mass category projects. That second phase sits near S.V. Road in Mahesh Nagar, Goregaon West, roughly 1.7 km from Goregaon railway station, 2.1 km from Bangur metro station and 2.9 km from Oberoi Mall, with 2 BHK units around 740 sq ft and 3 BHK units around 1,000 sq ft. Its RERA-stated possession date is December 1, 2030. The continuity from the original Ozone towers into a second phase on the same stretch signals a developer treating Goregaon West as a long-hold market rather than a one-project footprint.
Keystone's decision to keep building in this pocket tracks closely with how the corridor itself has changed. Mumbai Metro Line 2A, which went into service in January 2023 with a major stop at Goregaon West, connects Dahisar East to DN Nagar, improving east-west connectivity and cutting travel times. The Aarey JVLR metro station, which opened in October 2024, further serves residents in the Goregaon belt. Quick access to S.V. Road, Link Road and the Western Express Highway gives residents strong road connectivity on top of the rail options. For a buyer weighing a Rustomjee address here, the draw is less about a single road and more about sitting between two employment clusters: the location benefits from proximity to major employment hubs such as Mindspace Malad, NESCO IT Park and Infinity IT Park, which drives consistent housing demand.
The neighbourhood is served by Kokilaben Dhirubhai Ambani Hospital, and schools including Vibgyor High School, Ryan International School and Oberoi International School. For shopping, residents have Oberoi Mall, Inorbit Mall and the local S.V. Road markets within reach. Longer term, Goregaon West is also witnessing large-scale redevelopment, including the roughly 143-acre Motilal Nagar project, expected to reshape the skyline with modern high-rise communities and integrated infrastructure. That kind of area-wide renewal is the same category of work Keystone itself specialises in, which gives the developer a practical read on how the locality is likely to evolve around its own projects.
Goregaon West's micro-market offers 1, 2, 3 and 4 BHK apartments priced from around Rs 1 crore up to Rs 5 crore-plus, with average pricing in prime developments running at approximately Rs 28,000 to Rs 32,000 per sq ft. Rental yields in the area run around 3% to 4%, with price appreciation trends of 6% to 10% annually, a pace analysts expect to sustain at 8% to 12% given continuing metro and IT-park-linked demand. Within that band, a multi-tower, multi-phase project such as Ozone gives buyers a way to enter a developer-backed community rather than a standalone tower, at a stage of the corridor's growth curve rather than after it has already priced in the metro premium.
As part of its business model, Keystone Realtors focuses on entering into joint property agreements, redevelopment agreements with landowners, builders or societies, and slum rehabilitation development, which requires lower upfront capital than buying land outright. That approach has kept the company active well beyond Goregaon West. Keystone Realtors bagged three redevelopment projects in Mumbai in the June 2025 quarter with a combined revenue potential of more than Rs 7,700 crore, on the back of its highest-ever quarterly pre-sales of Rs 1,068 crore. Elsewhere in the city, the Rustomjee name covers Rustomjee Elements, a large gated community in Upper Juhu; Rustomjee Paramount, a signature complex in Khar; Rustomjee Seasons in Bandra Annexe; and Rustomjee Crown, a high-rise development on a 5.75-acre parcel in Prabhadevi. The group has also built for certification, with its Thane township Rustomjee Urbania IGBC certified and its Natraj by Rustomjee commercial project LEED certified. For a Goregaon West buyer, that breadth matters less as a comparison and more as context: the same company managing Ozone's phases is running a redevelopment pipeline across the MMR at a scale that keeps it among the more active listed names in the sector.