Pharma Tycoon Suresh Pareek Invests ₹190 Crore in Mumbai’s Luxury Real Estate
Suresh Pareek, the founder of pharmaceutical firm Ideal Cures, and his wife, Veena Pareek, have jointly acquired two ultra-luxury residential apartments in the prime locality of Worli, Mumbai. The total consideration for the deal is ₹190 crore, as recorded on December 24, 2025, according to documentation 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 combined RERA Carpet Area of the two apartments exceeds 12,000 sq. ft., making it the largest residential deal recently recorded in the Worli area. The apartments were bought at a rate of around ₹1.56 lacs per sq. ft., indicating the robust state of 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 come equipped with two balconies measuring over 1,100 sq. ft. and two open terraces measuring over 700 sq. ft., providing unobstructed views, a crucial feature in luxury apartments in Mumbai.
The sale also included 10 car parking spaces, further emphasizing the magnitude of the transaction. The buyers paid a stamp duty of more than ₹11 crores and a registration charge of ₹60,000, in line with the property registration norms in Maharashtra.
Suresh Pareek is a venture capitalist and entrepreneur, known for founding Ideal Cures Pvt Ltd, a manufacturer of healthcare-related excipients. He exited the company in 2022, holding 16 patents to his name as the inventor. This is not Pareek’s first significant real estate investment in Mumbai. In 2022, he reportedly 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 of around ₹1,530 crore in the Mumbai market were attributed to the pharmaceutical sector, as revealed by the data collected by Zapkey.
Industry experts note that post-pandemic wealth creation, combined with real estate’s appeal as both a store of value and status asset, continues to attract high-net-worth individuals to Mumbai’s top residential addresses. This trend underscores the resilience and growth potential of Mumbai’s luxury real estate market, making it an attractive investment destination for affluent investors.
