Pharma Promoters of Ideal Cures Acquire Two Luxury Apartments in Mumbai’s Worli for Rs 190 Crore
Suresh Pareek and Veena S Pareek, the promoters of Ideal Cures, a leading pharmaceutical excipients manufacturer, have made a significant investment in luxury residential property in Mumbai. They have acquired two luxury apartments in the upscale Worli locality for a total of Rs 190.1 crore.
The transaction, registered on December 24, involves the purchase of two adjoining units located on the 43rd floor of a high-end residential tower. This acquisition underscores the continued interest from business leaders in large-format premium homes in central and south Mumbai.
The two apartments together have a total RERA carpet area of 12,114 square feet, which translates to an effective rate of around Rs 1.56 lakh per square foot. This deal ranks among the highest-value residential transactions recorded in the country, highlighting the premium nature of the Worli real estate market.
The family already owns a luxury apartment on the 12th floor of the same residential tower, indicating a strong preference for the location. One of the newly bought apartments has a RERA carpet area of 6,772 square feet, along with a 629 square foot balcony and a 367 square foot open terrace. The consideration for this apartment stood at about Rs 104.9 crore and includes five car parking spaces, as per documents accessed through Zapkey.com.
The second apartment, purchased for about Rs 85.2 crore, has a RERA carpet area of 5,342 square feet, in addition to a 504 square foot balcony and a 367 square foot open terrace. This unit also comes with rights to five car parking slots. Together, the transaction includes 10 car parking spaces and spans nearly an entire floor.
According to property consultants, such configurations are increasingly preferred by promoter families seeking long-term end-use homes rather than investment-led purchases. Worli remains one of the country’s most expensive residential micro-markets, supported by scarce new supply, proximity to key commercial districts, and improving infrastructure connectivity, including the coastal road and the Bandra-Worli Sea Link.
The micro-market has seen a steady flow of large-ticket residential deals, particularly from founders, promoters, and senior corporate executives. Property consultants noted that demand in the ultra-luxury segment has remained resilient, with buyers focusing on location, size, and privacy. Even as pricing in prime south and central Mumbai continues to firm up, the interest in such properties remains strong.
Ideal Cures, a prominent player in the pharmaceutical excipients industry, has shown a strategic approach to both business and personal investments. The company’s promoters’ decision to invest in premium real estate in Mumbai’s Worli reflects a broader trend of high-net-worth individuals and business leaders prioritizing luxurious and secure living environments in prime locations.
