Pharma Business Leaders Buy Big Luxury Homes in Mumbai’s Worli

Mumbai, May 2025 — Leena Gandhi Tewari, head of pharmaceutical company USV, has bought two big, expensive sea-view apartments in Worli for ₹639 crore. With taxes included, the total cost is about ₹703 crore. This is the most expensive home purchase ever recorded in India.

This shows that many people from the pharmaceutical business are now buying very expensive homes in Mumbai. Experts say that after COVID, pharma business owners have more money and want to invest in luxury homes to show their status and keep their money safe.

The two apartments are in a tall building called Naman Xana on Worli Sea Face. They cover a large area of about 22,500 square feet on four floors. The price per square foot is very high, making it the priciest home deal in the country. Worli has become a popular area for luxury homes, competing with other famous areas like South Mumbai and Bandra.

Ritesh Mehta from JLL India said this is a very important deal because sea-view luxury homes are rare and in high demand. People buying these homes usually want to live in them, not just invest.

Even though this deal sets a new high price for homes in Mumbai, some experts say it might not represent the prices of all luxury homes in the city.

Earlier this month, another rich buyer, Uday Kotak, bought eight flats in Worli Sea Face for over ₹400 crore.

Pharma Industry Buying More Luxury Homes

Experts say that pharma business owners are a big reason why Mumbai’s luxury home market is growing. After COVID, many pharma leaders have more money and want to buy expensive homes.

“Before, buyers would spend ₹100-200 crore, now they are ready to spend ₹500 crore or more on their homes,” said an expert.

Sandeep Reddy from Zapkey said many pharma leaders want these special homes and are willing to pay very high prices because they don’t want to miss out.

Other Big Pharma-Linked Home Purchases in Mumbai

Other big luxury home purchases by pharma families and leaders include:

• Vibha Shanghvi, wife of Sun Pharma’s Dilip Shanghvi, bought two apartments worth ₹130 crore in Worli.
• Neerav Parekh, owner of Barnsley Football Club, and his mother bought two apartments worth ₹170 crore in Worli.
• The Zydus Family Trust bought a ₹200 crore apartment in Oberoi Three Sixty West, Mumbai.
• Sanjeev Agarwal, CEO of Althera Pharma, bought three apartments worth over ₹72 crore in South Mumbai.
• Seema Singh, wife of Alkem Laboratories promoter, bought a ₹185 crore apartment in a new building in Worli.

These big purchases show how pharma business money is changing Mumbai’s luxury home market, especially in top areas like Worli and South Mumbai.