Pharma Tycoon Suresh Pareek Acquires Two Luxury Flats in Mumbai for ₹190 Crore
Suresh Pareek, the founder of pharmaceutical company Ideal Cures, and his wife Veena Pareek have jointly purchased two luxury apartments in Mumbai’s Worli for ₹190 crore, according to property registration documents accessed by Zapkey.com.
Located on the 43rd floor of Raheja Artesia, the two apartments together measure over 12,000 sq ft of RERA carpet area, as per the documents. The sellers of the two apartments are Chandru Raheja, chairman of K Raheja Corp, and Jyoti Raheja.
The apartments were sold at a per-square-foot price of ₹1.56 lakh and come with two balconies of over 1,100 sq ft and two open terraces of over 700 sq ft, as per the documents. The apartments were purchased along with 10 car parking spaces, and the transaction for the two apartments was registered on December 24, 2025. A stamp duty of over ₹11 crore and a registration fee of ₹60,000 were paid for the purchase of the two apartments.
Suresh Pareek is a venture capitalist who founded Ideal Cures Pvt Ltd, a manufacturer and supplier of pharmaceutical excipients. Pareek exited the company in 2022, according to his LinkedIn profile. The profile notes that he is also the inventor of 16 patents. An email query sent to K Raheja Corp and Ideal Cures did not receive any response. Suresh Pareek and Veena Pareek could not be reached for comment.
A media report published in 2022 stated that Pareek had previously purchased a sea-view luxury apartment in Mumbai’s upscale Worli locality for over ₹64.57 crore.
Pharma honchos drive big-ticket deals in Mumbai’s real estate market. India’s ultra-luxury housing market saw one of its strongest years on record in 2025, with wealthy individuals and entities spending over ₹7,100 crore on 51 marquee residential transactions. Of this, properties worth about ₹1,530 crore in Mumbai had direct links to buyers from the pharmaceutical sector, according to data collated by Zapkey.
The trend highlights a sharp rise in luxury home purchases by pharma entrepreneurs and executives, driven by post-COVID wealth creation and a growing preference for real estate as both a safe haven and a status asset. “Pharma money is clearly flowing into real estate,” said an industry expert. The year saw USV chairperson Leena Gandhi Tewari purchase two ultra-luxury sea-facing duplex apartments in Mumbai’s Worli for nearly ₹739 crore, marking the largest single residential property transaction ever recorded in India.
