Adar Poonawalla’s Rising Sun Holdings buys 1.75-lakh square feet office space in Pune for ₹395 crore

The commercial space is spread across four floors in Cerebrum IT Park, located in Marigold Complex of Pune’s Kalyani Nagar area

Rising Sun Holdings Private Limited (RSHPL), owned by billionaire Adar Cyrus Poonawalla, has acquired 1.75 lakh square feet of office space in Pune for a sum of ₹395 crore, property registration documents accessed through real estate data analytics platform Propstack showed.

Adar Poonawalla’s Rising Sun Holdings buys 1.75-lakh square feet office space in Pune for ₹395 crore (Representational photo) (Pixabay)

Incorporated in 1993, RSHPL is an investment holding company of the Cyrus Poonawalla Group. Adar Cyrus Poonawalla, who is also the CEO of vaccine major Serum Institute of India, holds a majority stake in the company.

The said commercial space is spread across four floors, spanning a built-up area of 2.19 lakh square feet in Building B1 of Cerebrum IT Park, located in Pune’s Kalyani Nagar. The deal also includes parking space for a total of 218 cars across the basement units of buildings B1 and B2, the documents showed.

Built by Kumar Builders, Cerebrum IT Park is spread across 1 million square feet in the heart of Pune. It comprises three buildings - B1, B2 and BC - occupied by companies from diverse sectors.

More on the deal

The transaction, executed via four separate deals, was registered on September 11 and named Zavareh Soli Poonawalla as the seller.

Zavareh Poonawalla is a businessman and brother of Cyrus S Poonawalla, the founder and CMD of Serum Institute of India.

As per details cited in the documents, the four deals collectively attracted a stamp duty of ₹27.65 crore and registration fees of ₹1.2 lakh.

Queries sent to Zavareh Soli Poonawalla by HT.com did not elicit a response till press time. The story will be updated once a response is received.

Poonawalla Group did not comment.