Justo Realfintech Limited has announced the strategic acquihire of Pune-based Hustlewin, marking a significant expansion of its operations in the Pune real estate market. The tech-enabled mandate-driven real estate sales, marketing and execution platform aims to strengthen its presence across Pune and adjoining micro-markets through this strategic move.

Hustlewin's Track Record and Performance

Established in 2022, Hustlewin has rapidly emerged as one of Pune's fastest-growing execution platforms with impressive achievements:

The integration brings Hustlewin's on-ground strengths into Justo's consolidated delivery framework and is expected to add upwards of ₹20.00 crore in annual revenue visibility to Justo, starting from FY27.

Strategic Integration and Team Expansion

As part of the acquihire, 25 of Hustlewin's top-performing sales, marketing and execution professionals will join Justo, further strengthening the company's presence across Pune and adjoining micro-markets. The transition enables Justo to take over the execution of four ongoing residential projects in Pune, along with a strong pipeline of upcoming mandates.

Pushpendra Rathore, CEO & Managing Director of Hustlewin, joins Justo as an additional Market Head for Pune & Emerging Markets. With leadership experience at 99acres and Relation Realtech, he has contributed to the execution of more than 50 projects across Pune's prime micro-markets. Reporting to Nitin Pardeshi, Director-Sales & Marketing at Justo, Pushpendra will work alongside other Market Heads Sandeep Kulkarni and Vishal Thigaley.

Leadership Perspectives

Puspamitra Das, Founder & CMD of Justo Realfintech Limited, emphasized the strategic importance of this move: "This acquihire enhances our execution capability in a market that is strategically vital for us. Hustlewin's on-ground expertise and micro-market understanding add meaningful strength to our platform. With Pushpendra coming on board, we are creating a more integrated, scalable engine for our mandate-led growth."

Pushpendra Rathore expressed his enthusiasm about joining Justo: "I am delighted to be part of the Justo family. This integration brings together Hustlewin's entrepreneurial execution strengths with Justo's institutional scale and technology framework. Our immediate priority is to drive consistent sales momentum, stronger developer partnerships and growth to new markets."

Business Impact and Revenue Enhancement

The acquihire significantly enhances Justo's execution capability by combining seasoned on-ground leadership, strong developer relationships, and a proven mandate delivery framework. The comprehensive business impact includes:

As Justo scales across Pune, Nagpur, Raipur and Indore, Pushpendra will eventually lead a team of over 80 members within Justo's overall 350-strong Pune-based workforce. The company is also actively exploring similar opportunities to further strengthen and expand its presence in Mumbai and Pune markets.

Justo Realfintech Limited, a Mumbai-based company, has received three penalty orders from the Registrar of Companies (RoC) for violating Section 42(10) of the Companies Act, 2013. The violations stem from the company's failure to maintain separate bank accounts for private placement application money.

Penalty Details

Impact and Company Response

Despite the significant penalties, Justo Realfintech has stated that there is no material impact on its financials, operations, or other activities. The company describes the non-compliance as procedural and technical, relating to a past period.

Justo Realfintech has announced that it is taking appropriate steps before competent authorities in response to these orders. The company emphasizes that the compounding order pertains to a procedural/technical non-compliance from a past period and does not affect its day-to-day business or performance.

Regulatory Implications

This case highlights the importance of strict adherence to regulatory requirements, particularly in financial matters such as private placements. Companies must ensure that they maintain separate bank accounts for application money received during private placements, as mandated by Section 42(6) of the Companies Act, 2013.

The penalties imposed on both the company and its directors underscore the personal liability that company officials may face for regulatory non-compliance. It serves as a reminder for all listed entities to maintain robust compliance mechanisms to avoid such penalties and regulatory scrutiny.

While Justo Realfintech claims no material impact from these penalties, the incident may affect investor confidence and require the company to strengthen its internal controls and compliance procedures going forward.