The promoter family of Blue Jet Healthcare has made significant investments in Mumbai’s luxury real estate market, acquiring three high-end apartments in Worli for a combined value exceeding ₹202 crore, according to property registration records accessed by Zapkey. This acquisition reflects the growing influence of pharmaceutical sector wealth in Mumbai’s premium residential property segment.
Akshay Bansarilal Arora, promoter of Blue Jet Healthcare, purchased two units in the Palais Royale development, a prominent super-luxury skyscraper in Worli, from Honest Shelters Pvt Ltd. Each apartment covers approximately 7,669 square feet and includes five dedicated car parking spaces. The purchase price for each of these units was ₹57.14 crore.
In a separate transaction, Shiven Akshay Arora acquired a 7,747-square-foot apartment at Raheja Artesia in Worli for ₹88 crore. This residence is equipped with six parking spaces, as per the property documents.
Representatives from Blue Jet Healthcare, Akshay Bansarilal Arora, Shiven Akshay Arora, Honest Shelters Pvt Ltd, and Raheja Group were unavailable for comment when approached.
Worli, located in central Mumbai, has become a notable micro-market for luxury residential developments. Following areas such as South Mumbai, Lower Parel, Prabhadevi, and Bandra, Worli has seen rapid growth in premium real estate projects. Some properties in this locality have reached price points above ₹1 lakh per square foot, signaling strong demand from high-net-worth buyers.
Other members of the pharmaceutical industry have also been active investors in Mumbai’s luxury housing sector. Earlier this year, Leena Gandhi Tewari, chairperson of USV Pharmaceuticals, purchased two sea-facing duplex apartments in Worli for a total price of ₹639 crore. This transaction involved stamp duty and GST payments amounting to nearly ₹64 crore, bringing the total cost to about ₹703 crore. This deal is among the highest-value residential property transactions recorded in India.
In addition, the Zydus Family Trust, linked to Zydus Lifesciences Limited (formerly Cadila Healthcare Limited), acquired a ₹200 crore luxury apartment in Worli earlier in 2025. Last year, Vibha Shanghvi, spouse of Dilip Shanghvi, chairman and managing director of Sun Pharma, purchased two apartments in Worli valued at ₹130 crore.
Industry experts observe an increasing trend of pharmaceutical sector wealth being invested in luxury real estate, especially in Mumbai’s premium micro-markets. This pattern has gained momentum since the COVID-19 pandemic, as the pharma sector experienced notable growth in revenue and market capitalization. High-net-worth individuals from this industry view luxury residential properties both as secure investments and as status symbols.
According to real estate analysts, this inflow of pharma wealth into real estate supports ongoing demand in Mumbai’s luxury housing market. Worli, with its central location and improved infrastructure connectivity, has emerged as a preferred destination for these buyers.
The micro-market’s appeal is further strengthened by the presence of multiple high-end residential projects offering modern amenities and superior construction quality. This has attracted investors seeking long-term value and exclusivity in Mumbai’s real estate landscape.
The continuous acquisitions by pharmaceutical promoters and their families underscore the sector’s growing footprint in Mumbai’s luxury property market. This trend is expected to sustain given the stable outlook for pharma companies and the persistent demand for premium housing in key urban centers.
Mumbai remains India’s leading city for luxury real estate transactions, with micro-markets such as Worli playing a vital role in the city’s property ecosystem. The significant investments from pharma promoters contribute to the market’s liquidity and development momentum.
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