Adar Poonawalla’s RSHPL Acquires ₹395 Crore Commercial Space in Pune’s Kalyaninagar
Adar Poonawalla's RSHPL Acquires ₹395 Crore Commercial Space in Pune’s Kalyaninagar
The acquisition spans 1.75 lakh square feet at Cerebrum IT Park, Kalyaninagar, through four registered transactions.
Rising Sun Holdings Private Limited (RSHPL), promoted by businessman Adar Poonawalla, has purchased commercial office space in Pune’s Kalyaninagar suburb for ₹395 crore. The acquisition took place at Building B1 of Cerebrum IT Park. It includes 1.75 lakh square feet of office space, as per a real estate data analytics platform. The deal was registered on September 11 and executed through four separate transactions.
RSHPL, incorporated in 1993, serves as an investment holding company for the Cyrus Poonawalla Group. Adar Poonawalla, CEO of vaccine giant Serum Institute of India, holds a majority stake. The transaction covers a total built-up area of 2.19 lakh square feet, spanning four floors in Building B1 of Cerebrum IT Park. Additionally, the deal includes parking facilities for 218 cars, spread across the basement of Buildings B1 and B2.
Cerebrum IT Park, developed by Kumar Builders, encompasses 1 million square feet and houses businesses from various sectors. The seller in this transaction was Zavareh Soli Poonawalla, Adar Poonawalla’s uncle and a board member of the Serum Institute of India.
A sum of ₹27.65 crore was paid in stamp duty for the acquisition, which reflects the Poonawalla Group’s ongoing expansion in Pune’s real estate market. The group previously partnered with Panchshil Realty to develop Business Bay in Pune’s Yerwada area and a luxury hotel managed by Ritz-Carlton.
Despite Kalyaninagar being largely residential, it has seen a growing presence of office spaces, particularly in technology, banking and financial services sectors.
