Pharma Tycoon Suresh Pareek Invests ₹190 Crore in Mumbai’s Luxury Real Estate
Suresh Pareek, the founder of Ideal Cures, and his wife Veena Pareek have jointly acquired two luxury apartments in Mumbai’s prestigious Worli neighborhood for a staggering ₹190 crore. According to property registration documents accessed by Zapkey.com, the apartments are located on the 43rd floor of the Raheja Artesia building and cover a total RERA carpet area of over 12,000 square feet.
The apartments, which were sold by Chandru Raheja, chairman of K Raheja Corp, and Jyoti Raheja, come with two balconies totaling over 1,100 square feet and two open terraces exceeding 700 square feet. Additionally, the purchase includes 10 car parking spaces. The transaction was registered on December 24, 2025, with a stamp duty of over ₹11 crore and a registration fee of ₹60,000.
Suresh Pareek, a venture capitalist who founded Ideal Cures Pvt Ltd, a leading manufacturer and supplier of pharmaceutical excipients, exited the company in 2022. His LinkedIn profile highlights his role as the inventor of 16 patents. Despite attempts to reach out, neither K Raheja Corp nor Ideal Cures provided a response to queries, and Suresh Pareek and Veena Pareek could not be contacted for comment.
This purchase is not Pareek’s first venture into Mumbai’s luxury real estate market. In 2022, he reportedly bought a sea-view luxury apartment in Worli for over ₹64.57 crore. The trend of pharmaceutical honchos driving big-ticket deals in Mumbai’s real estate market is on the rise, reflecting the sector’s post-COVID wealth creation and a growing preference for real estate as a safe haven and status asset.
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. This trend is highlighted by the purchase of two ultra-luxury sea-facing duplex apartments in Worli by USV chairperson Leena Gandhi Tewari for nearly ₹739 crore, marking the largest single residential property transaction ever recorded in India.
The surge in luxury home purchases by pharma entrepreneurs and executives underscores the sector’s financial strength and the strategic importance of real estate in their investment portfolios. “Pharma money is clearly flowing into real estate,” said an industry expert, emphasizing the sector’s resilience and the growing appeal of luxury properties as both a safe investment and a symbol of status.
The Raheja Artesia building, known for its prime location and luxury amenities, is a testament to the high standards of living sought by affluent residents in Mumbai. The building’s amenities, including spacious terraces and balconies, offer residents a premium living experience, making it a desirable location for high-net-worth individuals like Suresh Pareek and his wife.
As the pharmaceutical sector continues to thrive, it is likely that more such high-value real estate transactions will be seen in the coming years, further solidifying Mumbai’s position as a hub for luxury property investments.
