Lloyds Group Promoter's Family Acquires Six Ultra-Luxury Apartments in Mumbai for ₹227 Crore

Ravi Agarwal, chairman of Lloyds Realty, along with other family members, including Babulal Agarwal, chairman of Lloyds Group, has purchased six ultra-luxury apartments in South Mumbai’s upscale Tardeo area for a total consideration of ₹227 crore, according to documents accessed by Zapkey.

Located in the Kalpataru Prive project developed by Kalpataru Hills Residency Pvt Ltd on Altamount Road, the transaction involves six flats, spanning 27 BHKs spread across the 18th to the 23rd floors. Known for its ultra-luxury homes, Altamount Road is home to high-net-worth individuals (HNIs) and is often referred to as Mumbai’s Billionaires Row.

The transaction was registered on July 11, 2025. The total carpet area of the six apartments is 17,908 sq ft, translating to a per sq ft rate of ₹1.26 lakh. The sale also includes 24 car parking spaces, as per the documents.

According to documents accessed by Zapkey, the buyers include Ravi Agarwal and Babulal Agarwal. The latter is the chairman of the Lloyds Group, and Ravi Agarwal heads Lloyd Realty, the group’s real estate arm. The seller is Kalpataru Hills Residency Pvt Ltd.

Altamount Road, located in South Mumbai’s Tardeo area, is one of the city’s most prestigious and expensive residential neighborhoods. Known for its ultra-luxury homes and limited supply, the area is home to high-end apartments, exclusive bungalows, and some of India’s wealthiest families.

Lloyds Group is involved in businesses such as Lloyds Metals and Energy, Lloyds Luxuries, Lloyds Realty Developers Limited, and Lloyds Engineering Works. These operations include importing, exporting, and dealing in iron and steel, alloy steel scrap, steel tubes, pipes, and wires.

A query has been sent to Lloyds Group and Kalpataru. If they respond, the story will be updated.

Previous transactions in Mumbai have also seen significant investments from the Lloyds Group. According to the property registration documents accessed by Zapkey, Lloyds Group chairman Mukesh Gupta’s wife, Abha Gupta, and son Shreekrishna Gupta purchased a triplex worth ₹107 crore in Worli, Mumbai, last year. The triplex measures 13,207 sq ft and was purchased at a per sq ft rate of ₹81,133, according to the documents registered on June 27, 2024. The apartment is located in the Sea Krest building, an under-construction project by Sugee Group, which is also the seller in this transaction. The apartment comes with 16 car parking spaces.