Pharma Tycoon Suresh Pareek Splashes ₹190 Crore on Mumbai's Ultra-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, for a total consideration of ₹190 crore. The deal was 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 developed by K Raheja Corp. The total RERA Carpet Area of the apartments is over 12,000 square feet, making it one of the largest residential deals in the Worli area recently. The apartments were purchased at a rate of approximately ₹1.56 lakhs per square foot, reflecting 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 square feet and two open terraces measuring over 700 square feet, offering unobstructed views—a crucial feature for luxury apartments in Mumbai.

The sale also included 10 car parking spaces, further emphasizing the scale and luxury of the purchase. 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 well-known venture capitalist and entrepreneur, having founded Ideal Cures Pvt Ltd, which specializes in manufacturing healthcare-related excipients. He exited the company in 2022 with 16 patents to his name. This is not Pareek’s first major real estate investment in Mumbai. In 2022, media reports indicated that he had bought a sea-facing luxury flat in Worli for over ₹64.57 crores.

The transaction fits into a growing trend of pharmaceutical entrepreneurs and executives making significant 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 alone, 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 totaling 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, driven by the city’s economic vibrancy and the prestige associated with owning luxury properties in prime locations.

Despite efforts to reach out to K Raheja Corp and Ideal Cures for comments, no responses were received. Suresh Pareek and Veena Pareek could not be contacted at the time of publication.