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Former Zandu Balm promoter family's firm buys ₹110 crore luxury apartment in Mumbai's Worli
Mumbai real estate: Tejal Mercantile Pvt Ltd, a Parikh family-linked firm whose member was with Zandu Pharma, has purchased apartment in Three Sixty West
Tejal Mercantile Private Limited, a company belonging to the Parikh family, one of whose members was a former promoter of Zandu Pharmaceutical Works, has bought a luxury apartment in Mumbai’s Worli for ₹110.41 crore, according to property registration data accessed through Zapkey.
The apartment is located on a higher floor of Three Sixty West, a luxury residential project developed by Oberoi Realty. It has a RERA carpet area of 7,303 sq ft, comprising 7,139 sq ft of carpet area and an adjoining area of 164 sq ft.
The transaction works out to approximately ₹1.51 lakh per sq ft, according to the registration documents.
The documents show that the apartment was sold along with five car parking spaces, and the entire transaction was registered on July 29, 2026.
A stamp duty of ₹6.62 crore and registration fees of ₹30,000 were paid for the transaction, the documents show.
Also Read: Encube Ethicals founder Mehul Shah buys ₹106.5 crore luxury apartment in Mumbai's Juhu
All about the Parikh family
The purchase was made by Tejal Mercantile Private Limited, in which a Parikh family member is listed as a director in the transaction details. According to media reports, the Parikh family has a significant history in India's pharmaceutical industry as one of the two promoter families of Zandu Pharmaceutical Works, alongside the Vaidya family. Zandu, founded in 1910, became the subject of a takeover battle in 2008 after Emami acquired the Vaidya family's stake. The Parikhs subsequently agreed to sell their stake to Emami, paving the way for Emami's takeover of Zandu.
An email query was sent to Oberoi Realty. The story will be updated if a response is received. Tejal Mercantile Private Limited could not be reached for comment.
All about Worli and Three Sixty West
The luxury project constructed by Oberoi Realty, along with its partner, has seen transactions by Bollywood actor Shahid Kapoor, D'Mart's Radhakrishna Damani, Everest Masala Group’s promoter, RR Kabel's promoter Shreegopal Kabra and family, Vadilal Bhai Shah, Vratika Gupta (founder of a well-known decor brand), and Ashley Nagpal (promoter of Ebco Pvt Ltd, a furniture fittings and accessories firm).
The luxury residential project has two towers and includes 4- and 5-BHK units. The project also comprises duplex apartments and penthouses. The project received its occupation certificate in 2022.
As per the MahaRERA portal, the Three Sixty West project is registered under Oasis Realty as the promoter, which has four promoters: SkyLark Buildcon Pvt Ltd, Shree Vrunda Enterprises (part of Sudhakar Shetty’s Sahana Group), and Oberoi Constructions Ltd and Astir Realty LLP (which are Vikas Oberoi promoted companies).
Also Read: How much money do you need to buy an apartment in Worli Sea Face in Mumbai?
According to real estate experts, premium luxury apartments on Worli Sea Face are typically priced between ₹80,000 and ₹1 lakh per sq ft, while the most exclusive residences can command rates of up to ₹2.80 lakh per sq ft.
At the relatively affordable end, homes start at around ₹10 crore. On the ultra-luxury end, marquee developments in Worli Sea Face can go up to approximately ₹140 crore, while duplex residences in the locality are priced between ₹125 crore and ₹250 crore, experts said. According to Mehta, monthly maintenance costs typically range from ₹30,000 to nearly ₹3 lakh, depending on the project, apartment size, and amenities offered.
