Keystone to construction

They call it Rustomjee’s O-zone, a 16-acre residential complex at Goregaon (West) in Bombay that retains 70 percent as open, green space in a fume-filled city. Reaching for the sky on the remaining 30 percent of the plot are six tall towers. A four-acre elevated, vehicle-free podium will encompass a children’s safe play zone, water body with lap pool, clubhouse, tennis/badminton courts, jogging track, skating rink, gazebo, etc. Rustomjee’s upcoming windows of opportunity include commercial and retail space at Andheri and a sprawling residential/commercial prestigious project spread over 100 acres at Thana.

"Rustomjee” is the brand name of the Keystone Group, founded by youthful entrepreneur Boman Irani in 1996. A first generation real estate developer, Irani is Keystone’s chairman and managing director; kinsman Percy Chowdhry is director on the board. The focus of Keystone’s activities are mainly Bombay’s suburbs – the hitherto sleepy, green and gardeny neighborhoods with ambling roads and quaint villas which have found in recent years that the big, bad, bustling city is standing on their doorstep!

"We will be moving our office pretty soon from Dahisar to Andheri, into bigger, more centrally located premises,” says Irani. With a mechanical engineering degree from Bombay University, Irani had ventured into real estate in the belief that anyone working on the concept of building a brand, in what was largely an unorganized sector, would be successful. Explains Irani: "Roti (bread), kapda (clothing) aur makaan (housing) are the essentials of life. You have brands in food, in clothes, so why not in building construction? he queries. The red triangle in Keystone’s logo denotes fire, symbolizing purity and quality, the black one around it denotes strength and endurance, explains their website www.rustomjee.com

From left: (1st row) Goregaon’s Raag and O-zone; (2nd row) Royale at Dahisar, Irani (extreme left) with celebrity judges Priya Dutt, Ranjana Kumari, Mistri, Zorabian, B. Irani, Piyush Pandey and Rupa Shah; Rustomjee International School and Rustomites

Keystone was one of the first real estate development companies to get an ISO 9001:2000 certification in August 2001 and they have developed more than two million sq ft of space. The names of the buildings are intriguing – La Sonrisa, La Solita, Orva, Raag, The Shimmer… and are spread across swanky suburbs like Juhu and Bandra, central locations like Dadar and Matunga, or homely habitats in Malad or Dahisar. Eminent architects like Hafeez Contractor and Talati Panthaky and Associates have been associated with their projects. Their major venture, Rustomjee Acres at Dahisar, was adjudged "Project of the Year 2001-02” and honored with an award instituted by Accommodation Times.

With many a common man moving to hitherto undeveloped areas, the geometry of the building is often determined by the geography. Chiseling new contours for interiors are the demands of discerning buyers – smart modular kitchens, wooden flooring, utility areas including drying balconies, video door phone security systems…

"We look at ourselves as open, young, progressive. We look at ourselves as providers of good living. We are open to trying out new things. We have suffered the brunt sometimes but have not shied back. We have an extremely talented team of people. Tell them something and it’s done!” asserts Irani. "Boman sir is a dynamic personality, extremely hardworking and dedicated,” says Anjali Goyal, managing executive (marketing infrastructure), of the team leader’s command and control.

In a city of contrasts, where the upper crust often live cheek-by-jowl with horrendous slums, where there is a constant jostle for space between living areas, roads and barefoot-in-the-park places, Irani rues the fact that all builders are usually tarred with the same brush: "Some of those called builders aren’t really the builders. Sure there are some bad apples, but there are many builders who have done much good development. But the good things never get reported!”

Irani: driving force behind the Rustomjee brand; (above) the late Rustom Irani

The MCHI (Maharashtra Chamber of Housing Industry) has standard rules and measures to make sure that the end user gets the best product in terms of actual useable area, common utilities, amenities, etc, Irani asserts. "This is a self-imposed guideline which all developers, being members of MCHI, adhere to,” he declares. With FDI (foreign direct investment) now permitted in real estate, Irani says he views "every threat as an opportunity.” FDI will bring big money into the industry: "Yes, FDI means deep pockets. You are looking at $ 100 million as a starting point. Finance is the fuel of the housing industry. FDI will ensure equity in the real estate business rather than debt… competition and the latest technology will offer the best to all home buyers. FDI can be a catalyst. It can make us go that much faster.”

The group established its first school called Rustomjee International School in 1999, an S.S.C., English medium, co-educational high school at Dahisar. Promoted by the Rustom Irani Foundation and named in memory of Boman’s father Rustom Sheriar Irani, the School has around 4,500 students and has established its credentials within a short period of six years. The P. R. Toddlers’ Academy encompasses the nursery, junior and senior K.G. and is named after mother Porochy.

"I love my work and I love my School even more,” enthuses the 37-year-old bachelor, declaring that he finds great happiness spending time each week at the School, meeting with the children, seeing the changes. The wonder years are not merely for academic excellence, believes Irani. Their full-fledged computer lab has 52 high-end computers, games like football, basketball, chess and extracurricular activities like yoga, karate, dance and gymnastics promote all round development. The Sensitive Saturday program aims to instill humane values into Rustomites, with visits to old age homes, orphanages, etc. Their Shiksha program imparts vocational skills to children from economically weaker sections who work as domestic help. Rustomites are also encouraged to interact with students from municipal schools. The School is one of the few institutions in the city that admits the differently abled (mentally and physically challenged), in a section run by POSAT (Physio Occupational Speech Academy of Therapists) Foundation. A new building has been built nearby for the School to extend its facilities. Percy’s wife Suzanne is the School’s principal.

Keystone director Chowdhry

The Rustom Irani Foundation also sponsors "Unsung Heroes – No Longer!” an all-India level competition which provides a platform for teachers to showcase their talent. This year 600 teachers from schools in Delhi, Calcutta, Bangalore, Poona, Bombay… progressed through tough elimination rounds to the finals at the Tata Theatre in Bombay on September 2. Surrounded by lovely ladies, Key­stone’s general manager (marketing and sales) Kaizad Hateria com­pered the evening, for the first time and at 24 hours’ notice, he said, amidst an audience of screaming supporters! The second runner-up was awarded Rs 25,000, the first runner-up Rs 50,000, the winner got a munificent one lakh rupees! Well-known actors Boman Irani and Perizaad Zorabian and Akansha founder Shaheen Mistri were among the celebrity judges this year.

Though a goodly number of Zoroastrian families have moved to the suburbs, Rustomjee International has a very small percentage of Zoroastrian students, says Irani. School premises are however frequently used, free of cost, by the Borivli and Subur­ban Zoroastrian Association (BASZA) for their get-togethers. "I happily encourage them and often tell Noshir Paghdi­walla (BASZA president) to ‘go for the bigger dream,’” smiles Irani.

The Federation of Parsi Zoroastrian Anjumans of India invited Irani as guest speaker at their executive council meet at Bombay’s Banaji Atash Behram Hall in September 2005. The Federation also conferred on him the Rusi Noshirwan Cama Memorial Award for 2002 in the sphere of professional competence. "Boman’s success in real estate is totally due to his dedication and delivering what he promised in the quality of construction... Boman’s unrelenting desire, philosophy and vision to prioritize education has led the Rustomjee International School to achieve an enviable reputation in a short span… Boman has been a driving force in encouraging every member of his team to achieve excellence in all spheres... in inculcating the value... that ‘success is not in never falling, but in rising after every fall,” states the citation.

As a community, we have too much of a "stuck with it” attitude, regrets the Bombay builder: "We must look at change openly. Tough times need tough decisions. Go out and help your own. See how the Aga Khanis, for example, stand by each other. I will give five percent more opportunity to a Parsi, but if you’re dishonest with me, that’s your Waterloo!”

Hailing from a family which used to make and export the Java/Yazdi brand of motorcycle, Irani says his parents encouraged them to be very focused, to have "the strength of character to stand up for what you want.”

The P. R. Toddlers’ Academy — Rustomjee’s KG section

With towering concrete, fiberglass and steel structures transforming the hitherto squat central and suburban skyline in Bombay, the squeeze in supply due to recent court judgments (staying the development of mill lands) will see a short-term, unhealthy spurt in prices, Irani visualizes. However, "India’s growth, which I am confident will sustain over the long term, will open massive opportunities for the real estate industry,” he says. With booming BPOs, IT giants and the retail sector fuelling demand, in the near future will arise the demand for second homes, resorts, medical centers, etc, which will continue to lift development on the upward trajectory. "The government needs to remove hurdles created under the Urban Land Ceiling Act, among others, for meaningful development and improved speed… single window clearances to take care of local issues like land acquisitions, environmental clearance will help. There has to be strong legislation to guide and exe­cutive authority to monitor development.”

Bombay’s future, he avers, lies in multi-nodal development, with each node, for example Borivli, having its own housing, schools, offices, parks, shops and entertainment facilities. This would cut travel in a pothole-ridden city where the average time spent commuting is four hours or more every day. "We need a two to three-tier road-rail network, as exists in some south-east Asian countries. It’s not that it cannot be done. The Delhi metro was completed some seven months ahead of schedule and it goes under really old, historic sites. It’s all a matter of perception. The problem lies in explaining an idea to an official who can’t grab the entirety of it! If an urban town planner’s concept is a one-room kitchen flat where the water does not leak, he won’t look beyond. I like to show people what I imagine — not a Star Trek kind of imagination but an implementable one,” he declares.