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Back in the 1990s, Boman R. Irani —an engineer by training with a background in manufacturing— observed a lack of structure in the real estate market. The chairman and managing director of Rustomjee Group saw an opportunity to apply an engineering mindset to real estate, focussing on structured processes and upfront planning, which he put into action on acquiring a 2,000-square-metre plot of land in Mumbai. It is this approach that has helped lay the foundation for the group’s success.
Over just three decades, the group has emerged as one of Mumbai’s most trusted luxury residential developers. What distinguishes Rustomjee in the luxury residential segment is its emphasis on lifestyle rather than square footage alone. The developer focuses on gated communities, sea facing residences, green spaces, and low-density layouts that provide privacy and exclusivity. Its projects typically include premium amenities such as clubhouses, rooftop lounges, landscaped gardens, business centres, wellness facilities and children’s recreational areas.
Among Rustomjee’s most notable developments is The Panorama in Bandra, Mumbai (set to be completed by 2027). Designed as an exclusive address for a select number of families, the project offers four and five-BHK residences with expansive balconies, sundecks, and full-floor layouts. With only around 20 to 25 residences in the development, The Panorama is representative of Rustomjee’s strategy of creating exclusive, boutique luxury projects in some of Mumbai’s most exclusive neighbourhoods. In Chembur, Mumbai, it has launched Balmoral Golf Links, a low-density gated estate overlooking the Bombay Presidency Golf Course (expected to be ready by 2030). Spread across 4.2 acres, the project will offer only 144 residences, with two apartments on every floor. The design focuses on large homes, green open areas, and uninterrupted views, appealing to buyers seeking a blend of privacy and luxury.
After finishing college, Irfan Razack joined the family business: a highend, bespoke men’s clothing outfit. His first exposure to real estate came when he was tasked with selling some family-owned land and reinvesting the proceeds into another real estate project to save on capital gains taxes. For the next five years, Razack and his brothers built a business buying and selling land before deciding to turn developers. In the initial years, they concentrated mostly on commercial buildings—since Bengaluru didn’t have too many good office buildings in the 1980s—before turning towards residential development.
Today, the Prestige Group has emerged as one of India’s most prominent players in the luxury real estate segment, building a strong reputation for delivering highend residential developments that blend design excellence, premium amenities, and strategic locations. Headquartered in Bengaluru, the company has evolved into a diversified real estate powerhouse with a significant footprint across major metropolitan cities including Bengaluru, Mumbai, Hyderabad, Chennai, and Delhi NCR.
A defining feature of Prestige Group’s luxury real estate business is its focus on integrated lifestyle developments. The company emphasises communities that include landscaped open spaces, clubhouses, retail zones, and proximity to business districts. Projects such as Prestige Shantiniketan in Whitefield and Prestige Falcon City on Kanakapura Road in Bengaluru exemplify this approach, combining residential, commercial, and retail components into large-scale urban ecosystems. In the luxury housing segment, Prestige has consistently delivered premium apartments, villas, and high-rise residences for affluent buyers. Landmark developments such as Prestige Kingfisher Towers, located next to UB City in Bengaluru, highlight the company’s ability to create ultra-luxury offerings characterised by expansive layouts, bespoke interiors, and exclusive amenities. Newer projects such as Prestige Rock Cliff in Hyderabad, with residences priced in the ultrapremium bracket, demonstrate the group’s continued focus on high-value housing.
After an initial attempt in the textile industry failed because of labour troubles, Niranjan Hiranandani ventured into real estate. While his first few projects in Versova, a western suburb of Mumbai, showed promise of a distinctive style, it was really only in the 1990s with Hiranandani Gardens, Mumbai’s first planned township built on a former quarry further north in Powai that he made his mark.
“A decade ago, luxury real estate was largely associated with prime locations, grand lobbies, and premium finishes,” says Hiranandani, the co-founder and managing director of the Hiranandani Group. “Today, the definition has evolved to focus on experience and environment. Discerning buyers now seek homes that offer a sense of retreat: larger residences, expansive green landscapes, abundant natural light, and thoughtfully designed spaces that enhance comfort and privacy. Equally important are walkable neighbourhoods, wellness-oriented amenities, and curated lifestyle infrastructure that support a balanced and enriching way of life.” He says this evolution is consistent with the changing profile of Indian luxury home buyers. “Compared to buyers a decade ago, this generation has far more global exposure and is design conscious. They have experienced luxury living in cities across the world and expect homes that offer comparable levels of privacy, technology integration, wellness infrastructure, and aesthetic sophistication. Importantly, they are more focused on long-term value and quality of life, not just prestige.”
Increasingly, sustainability is part of the blueprint. Futureready developments, he says, must integrate energy-efficient design, water management systems, green spaces, and wellness infrastructure right from the planning stage. “True luxury today lies in living well without compromising the future, and responsible development plays a crucial role in achieving that balance,” concludes Hiranandani.
When it came to choosing a career, Pirojsha Adi Godrej thought he’d pursue diplomacy or politics. The Wharton School of Business graduate, who also holds a master’s degree in international affairs from Columbia University, soon realised that his introverted nature was illsuited for those professions. He then completed an MBA from Columbia Business School and, in 2012, was appointed CEO of Godrej Properties Limited (GPL).
In 2004, when he joined the company, GPL’s revenue was around D40 crore. In FY2026, Godrej Properties reported a booking value of over D34,000 crore, achieving their highest ever annual performance. Over the past decade, the company has steadily moved beyond mid-market housing to create highend residential developments in metropolitan cities including Mumbai, Delhi NCR, and Bengaluru. The company highlights premium residences, villas, and integrated townships as a key part of its national portfolio of more than 250 projects.
Under Godrej’s leadership, GPL has moved from a model of establishing joint ventures with landowners to outright land acquisitions. This allows the company to design and execute projects that it believes are best suited for the market. A classic example of this strategy is GPL’s acquisition of RK Studios in Chembur (established by the late Bollywood legend Raj Kapoor), in 2019, for the development of the premium residential project Godrej RKS. In Delhi-NCR, GPL has expanded aggressively into the luxury segment through developments in Gurugram, Noida, and Delhi. Projects such as Godrej Miraya and Godrej Astra in Gurugram offer largeformat residences with exclusive clubhouses and wellness facilities in limited numbers, designed to appeal to ultra-premium buyers. Sustainability is key for Godrej, a principle that is built into all of GPL’s luxury projects.