D’Mart’s Radhakrishnan Damani purchases Rs 1,000 crore house in Mumbai’s Malabar Hill

0 56

Founder of DMart, Radhakrishnan Damani has bought a luxurious bungalow in Malabar Hills

New Delhi. Radhakrishnan Damani, a billionaire businessman and founder of DMart, Radhakrishnan Damani has bought a luxurious bungalow in Malabar Hills, a posh area in south Mumbai. According to reports, Damani, along with his younger brother Gopikishan Damani, bought this property Worth Rs 1001 crore।

The bungalow is spread over an area of ​​1.5 acres

According to the source, the two-story bungalow ‘Madhukunj’ on Narayan Dabholkar Marg is spread over an area of ​​more than 1.5 acres and its total built-up area is near about 60 thousand square feet. Based on the ready reckoner rate, its market price is Rs 724 crore. Damani’s family office paid Rs 30 crore as stamp duty।

Three property deals within two months

According to reports, recently Damani’s family office has purchased 8 acres of land for Rs 250 crore from Mondoleys India in Thane. Apart from this, De-Mart has purchased two floors spread over 39,000 sq ft for Rs 113 crore at Wadhwa Group’s Project The Epicenter in Chembur।

Started his career as an investor in the stock market

Radhakishan Damani is considered the king of retail business. But he started his career as an investor in the stock market in the 1980s. But an idea changed his fortunes and his wealth increased by 100 percent in just 24 hours. The IPO of his company De-Mart came in 2017. Radhakishan Damani was the owner of only one retail company till 20 March 2017, but as he rang the bell of the Bombay Stock Exchange on the morning of 21 March, his wealth soared by 100 percent. D-Mart’s stock was listed at Rs 604.40, while the issue price was kept at Rs 299. This was a return of 102 percent ।

Always away from the limelight

He always wears white clothes and is popularly known as ‘Mr. White and White’ among the investors of the stock market. He started a retail business in 1999, that was the time when the footsteps of Kumar Mangalam Birla and Kishore Biyani of Future Group did not even come into this sector।

Leave A Reply

Your email address will not be published.