Ranjan Pai’s Firm Acquires Prime Bengaluru Property for ₹165 Crore
Esencia Partners, a firm led by Manipal Hospitals’ Ranjan Pai, has acquired a prime property on Lavelle Road in Bengaluru for ₹165.6 crore, signaling strong confidence in the city's luxury real estate market.
Real EstateLuxury PropertyBengaluruRanjan PaiEsencia PartnersReal Estate MumbaiOct 13, 2025
Pai is the chairman of the Manipal Education and Medical Group, which operates businesses across healthcare, education, and private investments. This transaction on Lavelle Road is one of the most significant real estate deals in Bengaluru this year. The price, which translates to approximately ₹64,150 per square foot, underscores the immense value and scarcity of land in one of the city's most prestigious and expensive addresses, said Sandeep Reddy, co-founder of Zapkey.
“Large, independent land parcels are a rarity in central Bengaluru, making this a prized trophy asset. The purchase by a prominent business leader like Ranjan Pai further signals robust confidence from ultra-high-net-worth individuals in the long-term value of Bengaluru's luxury property market,” Reddy added. Pai did not respond to Mint's queries, and Mint couldn't immediately reach Cummins, the seller.
The site on Lavelle Road has an old bungalow, according to a person in the know who didn't wish to be named. Ultra-rich individuals in cities such as Mumbai, Delhi-National Capital Region, and Bengaluru have been buying prime properties even as prices continue to swing upwards. Such transactions are both for personal use of the properties as well as for investment purposes.
In June, Shruti Pai, founder and director of Sagework Design, had bought a luxury duplex for ₹64 crore in a boutique condominium complex in Bengaluru, in one of the most expensive residential deals in the city. Before Sagework, Shruti Pai was creative director at Manipal Education and Health Group. She is married to Ranjan Pai. The largest deal of 2024 occurred when Ajit Isaac, managing director of Quess Corp, purchased a 10,000 sq ft property in Bengaluru's 'Billionaire Street' in the Koramangala locality for ₹67 crore.
Frequently Asked Questions
What is the significance of the property on Lavelle Road?
The property on Lavelle Road is significant because it is one of the most prestigious and expensive addresses in Bengaluru, and the transaction is one of the most significant real estate deals in the city this year.
Who is Ranjan Pai and what is his role in the deal?
Ranjan Pai is the chairman of the Manipal Education and Medical Group and a managing partner of Esencia Partners, the firm that acquired the property on Lavelle Road.
What is the price per square foot for the Lavelle Road property?
The price for the Lavelle Road property translates to approximately ₹64,150 per square foot.
What other notable property deals have been made in Bengaluru recently?
Notable deals include Shruti Pai's purchase of a luxury duplex for ₹64 crore and Ajit Isaac's purchase of a 10,000 sq ft property in Koramangala for ₹67 crore.
Why are ultra-rich individuals buying prime properties in cities like Bengaluru?
Ultra-rich individuals are buying prime properties in cities like Bengaluru for both personal use and investment purposes, driven by the increasing value and scarcity of such properties.
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