Rustomjee Selected as Redevelopment Partner for Swarganga CHSL at Dindoshi Nagar Cluster, Goregaon East — Part of ₹10,420 Crore FY26 BD Pipeline
Rustomjee Advances Redevelopment Leadership with Swarganga CHSL Selection
Keystone Realtors (Rustomjee) added Swarganga CHSL at Dindoshi Nagar Cluster, Goregaon East to its development portfolio in FY26 as part of five redevelopment projects totalling 4.32 million square feet with an estimated GDV of ₹10,420 crore. The announcement, confirmed in the company's Q4 FY26 operational filing with the National Stock Exchange on April 6, 2026, marks a significant expansion of the developer's cluster redevelopment strategy across Mumbai's eastern suburbs.
The five FY26 additions—GTB Nagar at Sion, Lokhandwala Cluster at Andheri West, Swarganga CHSL at Dindoshi Nagar Cluster, The Homestead CHSL at Lokhandwala Cluster, and Om Nagar CHSFL at Andheri East—represent a 118% year-on-year growth in business development over the prior year's ₹47.83 crore. The company achieved 174% of its full-year FY26 business development guidance of ₹60 crore.
Location and Strategic Context
Goregaon East is an upscale residential suburb in western Mumbai with excellent connectivity via the Western Express Highway, New Link Road, Goregaon East and West railway stations on the Mumbai Suburban Railway, Dindoshi Bus Depot, and the Goregaon West Metro station. Dindoshi is one of the sub-localities within Goregaon East that adds vibrancy and variety to the neighbourhood.
Dindoshi is known as the city's largest bus stop in the Goregaon East zone, offering comprehensive transportation facilities, with schools within 1 kilometre radius and the Oberoi Mall within 800 metres. The area is close to various commercial hubs, such as Goregaon Film City.
Part of Broader Expansion Push
Rustomjee launched a total of 7 projects in FY26 with an estimated GDV of ₹98.13 billion compared to ₹50.19 billion for FY25, showing a growth of 96% year-on-year. For the full year, pre-sales rose 33% year-on-year to ₹40.22 billion and collections increased 13% to ₹26.21 billion, while in Q4 FY26 the developer delivered its highest-ever quarterly pre-sales of ₹13.46 billion and record collections of ₹8.53 billion.
Rustomjee management has stated that redevelopment opportunities in Mumbai remain a significant area of focus, and as a leader in this space, the company is strategically positioned to capitalize on this momentum.
Developer Profile and Track Record
Keystone Realtors (Rustomjee), established in 1995, is one of the prominent MMR-based realtors with leadership in the redevelopment space and has successfully housed 19,000 families through several redevelopment projects. The company's portfolio includes 14.32 million square feet of completed projects; 12 million square feet of ongoing development and another 28 million square feet of planned development in the pipeline, spanning across the best locations of the Mumbai Metropolitan Region.
Rustomjee's deep expertise in redevelopment projects is a cornerstone of its asset-light approach, having successfully executed numerous redevelopment projects transforming older structures into modern residential and commercial spaces, which allows the company to optimize upfront capital expenditure, achieve better returns on equity, and enhance capital employed.
Financial Standing
As of Q2 FY26, Gross Debt stands at approximately ₹588 crore with a Gross Debt/Equity ratio of 0.21, and Net Debt stands at nil. In addition to ICRA's A+ credit rating with Stable Outlook, India Ratings has assigned an A+ rating with Positive Outlook.