Pharma Entrepreneur Suresh Pareek Makes ₹190 Crore Luxury Real Estate Investment in Mumbai
Suresh Pareek, the founder of pharmaceutical firm Ideal Cures, and his wife, Veena Pareek, have made a significant investment in Mumbai's luxury real estate market. The couple has jointly acquired two ultra-luxury residential apartments in the prime locality of Worli for a total consideration of ₹190 crore. The deal was recorded on December 24, 2025, according to documentation obtained from the real estate analytical platform Zapkey.com.
The two apartments are situated on the 43rd floor of the luxury residential building Raheja Artesia, a project by K Raheja Corp. The apartments cover a RERA Carpet Area of over 12,000 sq. ft., making this the largest residential deal in the Worli area in recent times. The apartments were purchased at a rate of around ₹1.56 lacs per sq. ft., highlighting the strong demand and value in Mumbai's ultra-luxury real estate market.
The sellers of the two apartments are Chandru Raheja, the chairman of K Raheja Corp, and Jyoti Raheja, as per the registration details. The units are equipped with two balconies measuring over 1,100 sq ft and two open terraces measuring over 700 sq ft. These features provide unobstructed views, a significant factor in the appeal of luxury apartments in Mumbai.
The sale also included 10 car parking spaces, further emphasizing the scale of this transaction. The buyers paid a stamp duty of more than ₹11 crores and a registration charge of ₹60,000, as required by the property registration norms in Maharashtra.
Suresh Pareek, a venture capitalist and entrepreneur, is the founder of Ideal Cures Pvt Ltd, a manufacturer of healthcare-related excipients. His LinkedIn profile indicates that he exited the company in 2022, with 16 patents to his name as the inventor. This is not Pareek's first significant real estate investment in Mumbai. According to media reports from 2022, he had previously bought a sea-facing luxury flat in Worli for over ₹64.57 crores.
The transaction aligns with a growing trend of pharmaceutical entrepreneurs and executives making substantial investments in Mumbai’s luxury housing segment. According to Zapkey data, India’s ultra-luxury residential market saw transactions worth over ₹7,100 crore across 51 marquee deals in 2025, with Mumbai accounting for a significant share. In 2025, the Indian ultra-luxury real estate sector witnessed one of its best years ever, with more than ₹7,100 crore being spent on 51 marquee deals in the residential segment. Out of these, sales amounting to around ₹1,530 crore in the Mumbai market were attributed to the pharmaceutical sector.
Industry experts attribute this trend to post-pandemic wealth creation and the enduring appeal of real estate as both a store of value and a status symbol. High-net-worth individuals are increasingly drawn to Mumbai’s top residential addresses, further driving the demand in the ultra-luxury segment.
