Ideal Cures pharma owner buys two homes for ₹190.1 crore

Ideal Cures Pharma promoters bought two luxury apartments in Mumbai's Raheja Artesia for ₹190.1 crore, totaling 12,114 sq ft.

MUMBAI: Promoters of Mumbai-based Ideal Cures Pharma, Suresh Pareek and Veena Pareek, have purchased two luxury apartments in Worli’s upscale Raheja Artesia for a combined ₹190.1 crore, property registration documents show.

Ideal Cures pharma owner buys two homes for ₹190.1 crore

The two residences, both located on the 43rd floor of the tower off Dr Annie Besant Road, were acquired from K Raheja Corp promoters Chandru L Raheja and Jyoti Raheja, according to transaction details accessed from proptech platform Zapkey. The deal was registered on December 24, 2025.

One of the apartments has a carpet area of 6,772 sq ft, along with a 629-sq-ft balcony and a 367-sq-ft open terrace, and was purchased for ₹104.9 crore. The second residence spans 5,342 sq ft, with an additional 504 sq ft of balcony space and a 367-sq-ft open terrace. Taken together, the two homes measure 12,114 sq ft of carpet area and 13,981 sq ft including balconies and terraces.

On a per-square-foot basis, factoring in the outdoor spaces, the transaction works out to approximately ₹1,35,970 per sq ft. The purchase also includes 10 dedicated car parking slots.

The acquisition marks a significant step up from the Pareeks’ earlier investment in the same project. Around three years ago, while Raheja Artesia was still under construction, Suresh Pareek had booked an apartment on the 12th floor of the tower. That residence, with a carpet area of about 6,700 sq ft, was bought for ₹64.57 crore, translating to roughly ₹95,000 per sq ft at the time.

Ideal Cures Pharma is engaged in the manufacture and supply of pharmaceutical excipients and ready-to-use coating systems for solid oral dosage forms. The company operates manufacturing facilities in Vasai in the Mumbai Metropolitan Region, Jammu, Sikkim and Khambhat in Gujarat.