Kasturi Group

What Kasturi Group does

Kasturi Group, founded in 1987 and headquartered in CBD Belapur, Navi Mumbai, is a privately held residential real estate developer operating across Navi Mumbai and Dombivli, Maharashtra. The company has delivered 35+ residential landmarks totaling over 30 million sq. ft. of developed space and currently has approximately 15 million sq. ft. of projects under development, including AURELIA (New Panvel), REGIUS LUXE and REGIUS (Sector-12, Kharghar), AVENUE HILLS (Kharghar), DEVPRIYA (Ulwe), and an upcoming G+27 project in Kalamboli. Completed projects span configurations from 1 RK to 5 BHK across Kharghar, Ulwe, Kamothe, Panvel, Dombivli, Nerul, Seawoods, and Sanpada. There is no proprietary technology platform; the operating model is conventional land-acquisition, CIDCO-tender participation, construction, and direct sale of finished units.

The business model is direct-to-consumer property sales under a one-time license (sale) revenue structure. Units are sold to individual home buyers — middle-class to upper-middle-class families seeking primary residence, family housing, or investment property — through on-site sales teams and the corporate head office, supported by a website, downloadable e-brochures, and customer testimonials. Pricing is quote-based, varying by unit type, floor, configuration, and project, and is not publicly disclosed. Revenue is recognized on property handover and registration, making it inherently lumpy and project-cycle dependent.

The Group is family-led: founded by Shri Bhagwanji Dharamshi Minat, with second-generation Directors Mr. Shantilal B. Minat (BFM, LLB) and Mr. Rahul B. Minat (B-Tech Civil, MSc Project & Infrastructure Management). The company differentiates on quality construction, on-time delivery, Vaastu Sastra compliance, 100% transparency in dealings, and location selection within well-connected CIDCO nodes. Operations are supported by a lean team of approximately 38 employees, suggesting heavy reliance on outsourced construction contractors and a project-management overlay rather than vertically integrated development staffing.

Name

Kasturi Group

Website

https://kasturiinfracorp.com

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Kasturi Group is a Navi Mumbai-based residential real estate developer founded in 1987, delivering mid- to premium-segment apartment projects (1 RK to 5 BHK) directly to individual home buyers across Navi Mumbai and Dombivli, with 35+ landmarks delivered and 15 million sq. ft. currently under development.

Ownership category

akta.pro rank

Headquarters

HQ city

Navi Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Property Sales: Kasturi Group generates revenue through the sale of residential and commercial real estate properties. The company develops residential towers and complexes in Navi Mumbai and surrounding areas, selling units to individual buyers and families. Revenue is realized upon property handover and registration.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Kasturi Group is a real estate developer that constructs and sells residential and commercial properties, primarily residential towers ranging from 1 RK to 5 BHK configurations, in Navi Mumbai and Dombivli. The company develops G+6 to G+27 storey projects on CIDCO tender plots and sells units directly to end-buyers through on-site sales teams and its head office. Revenue is generated from one-time property sales of self-developed housing and commercial/retail space.

Product overview

Kasturi Group is a real estate development company offering a portfolio of residential projects across Navi Mumbai and Dombivli. The company operates as a unified real estate development operation (not a software platform), with ongoing projects including AURELIA (New Panvel), REGIUS LUXE (Kharghar), REGIUS (Kharghar), DEVPRIYA (Ulwe), and AVENUE HILLS (Kharghar), alongside completed projects spanning multiple neighborhoods including TPS-1, TPS-2, VARDVINAYAK, SHREE CHAMUNDA HARMONY, SHREE CHAMUNDA GARDEN, KASTURI, SOLITAIRE, KASTURI HEIGHTS, STAR GALAXY, SAPPHIRE, GOMAJI KASTURI, KASTURI HERITAGE, KANUPRIYA, SHREE CHAMUNDA DHAM, NANDIDHAM, and various other completed residential complexes. Projects range from G+6 to G+27 storeys and include configurations from 1 RK/1 BHK to 5 BHK, with amenities such as swimming pools, landscaped podiums, automated parking, and 24x7 security systems.

Differentiator

Problem solved

Functional benefit

Products and services

• AURELIA Ongoing G+12 storey premium residential tower in New Panvel on a 1,580 sq. mtrs. plot, offering premium 1 and 2 bed smart homes in the Akurli-Panvel Corridor with hi-speed elevators, 24x7 CCTV security, and fire-fighting systems. Targeted at end-user home buyers and investors in the Navi Mumbai market.
• REGIUS LUXE
• REGIUS
• KALAMBOLI
• DEVPRIYA
• AVENUE HILLS
• DAMODARPRIYA

Quantifiable outcome

• 35+ landmarks delivered across Navi Mumbai and Dombivli
• +3 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators6 records

Recent moves5 records

Expansion highlights3 records

Broad incumbents

• DLF Limited: India's largest listed real estate developer with a broad residential portfolio across price points. Comparable as a mass-market to premium for-profit residential developer with a multi-project, multi-geography pipeline model.
• Oberoi Realty: Mumbai-focused premium residential developer with comparable product configurations (2-4 BHK club-class residences) and similar buyer profile in MMR. Direct overlap in product positioning with projects like Regius Luxe.
• Lodha Group (Macrotech Developers): One of India's largest residential real estate developers with a strong Navi Mumbai and Mumbai Metropolitan Region presence. Directly comparable as a for-profit residential developer targeting the same middle-class and upper-middle-class buyer segments, though at a far larger scale and with national reach.
• Hiranandani Group: Established Mumbai and Navi Mumbai developer with major townships in the same micro-markets (Kharghar-style integrated developments). Comparable as a premium residential and commercial developer with similar Vaastu-conscious, family-oriented buyer base.
• Godrej Properties: Pan-India listed residential developer with active projects across MMR including Navi Mumbai growth corridors. Comparable as a for-profit developer selling residential units to end buyers with a multi-city, multi-project pipeline model.
• Shapoorji Pallonji Real Estate: Large diversified developer with active MMR residential projects including premium configurations. Comparable as a for-profit residential developer with a brand-led, quality-focused value proposition similar to Kasturi's stated differentiators.

Direct peers

• Mahindra Lifespace Developers: MMR-focused listed residential developer with similar mid-to-premium project configurations and a comparable Navi Mumbai presence. Closely matches Kasturi's product mix (2-4 BHK apartments) and direct-to-consumer sales model.
• Paradise Group (Navi Mumbai): MMR-focused residential developer with a comparable Navi Mumbai portfolio and similar product configurations (1-3 BHK). Direct regional peer competing for the same end-buyer pool in the Navi Mumbai corridor.
• Prajapati Group: Navi Mumbai-based regional residential developer with comparable mid-market project portfolio in similar micro-markets. Closely matches Kasturi in geography, product type, and target customer segment, making it a near-direct local competitor.
• Sai World Empire (Sai Group): Navi Mumbai and Panvel-based developer with active residential projects in Kharghar, Ulwe, and Panvel. Directly competes with Kasturi in the same micro-markets on similar mid-market and premium 2-3 BHK product.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/m-s-kasturi-developers

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kasturi Group