Rustomjee Group plans to launch its first plotted development project in Kasara Ghat near the hill station Igatpuri, about 3-4 hours from Mumbai. The company is currently active in the redevelopment space in the Mumbai Metropolitan Region (MMR) and gradually plans to expand into new verticals. The company also has plans to come up with a plotted development project in Manori in Mumbai having a potential of 0.33 million sq ft, according to an investors' presentation.
The company has added 15 new developments (projects) in the last two financial years, out of which 12 are redevelopments. The company will continue to explore potential in other real estate segments as well from plotted developments, data centres, just to name a few, to be able to kind of grow its positioning and serve across various segments in this micro market itself or in this large market itself.
Rustomjee Group plans to diversify into data centers probably because the company has land banks and the development capabilities to construct data centers, as per real estate consultants. The company also plans to raise funds via qualified institutional placement (QIP) of equity shares.
