The promoter family of Blue Jet Healthcare has acquired three luxury apartments in Worli, Mumbai, for more than ₹202 crore, according to property registration documents accessed by Zapkey. This purchase highlights a continuing trend of pharmaceutical sector wealth being invested in Mumbai’s high-end real estate market.
Akshay Bansarilal Arora, promoter of Blue Jet Healthcare, bought two apartments in the Palais Royale tower, developed by Honest Shelters Pvt Ltd. Each unit measures approximately 7,669 square feet and includes five car parking spaces. The apartments were acquired for ₹57.14 crore each.
In a separate transaction, Shiven Akshay Arora purchased a 7,747-square-foot apartment in Raheja Artesia, Worli, for ₹88 crore. This residence comes with six parking spaces.
Representatives from Blue Jet Healthcare, Akshay Bansarilal Arora, Shiven Akshay Arora, Honest Shelters Pvt Ltd, and Raheja Group were not available for comment at the time of reporting.
Worli, located in central Mumbai, has emerged as a key micro-market for luxury residential projects, following other high-end areas such as South Mumbai, Lower Parel, Prabhadevi, and Bandra. Property rates in Worli have reached upwards of ₹1 lakh per square foot in some projects, reflecting strong demand.
Other pharmaceutical industry leaders have also been active in Mumbai’s luxury housing market. Earlier this year, Leena Gandhi Tewari, chairperson of USV Pharmaceuticals, purchased two sea-facing duplex apartments in Worli for a total of ₹639 crore. The deal included stamp duty and GST payments totaling nearly ₹64 crore, bringing the overall transaction value to approximately ₹703 crore. This purchase is noted as one of the most expensive residential property transactions in India to date.
The Zydus Family Trust, associated with Zydus Lifesciences Limited, also bought a ₹200 crore apartment in Worli earlier in 2025. Last year, Vibha Shanghvi, wife of Dilip Shanghvi, chairman and managing director of Sun Pharma, acquired two apartments in Worli valued at ₹130 crore.
Real estate experts observe a growing pattern of wealth from the pharmaceutical sector flowing into luxury residential real estate in Mumbai. This trend is attributed to a surge in wealth accumulation in the sector, particularly following the COVID-19 pandemic, with luxury real estate seen as both a safe investment and a symbol of status.
Industry analysts note that pharmaceutical promoters and executives are increasingly investing in properties in premium micro-markets such as Worli, driven by the desire for secure assets amid changing economic conditions.
