Capital firm director buys Rs 2.63 bn Mumbai apartments

03 Oct 2023 CW Team

Asha Mukul Agarwal, the director of the capital market investment and trading firm Param Capital, has made a substantial investment in three luxury apartments in the upscale Malabar Hill area of South Mumbai. The apartments, located on the 24th and 25th floors of the Lodha Malabar super-luxury residential tower on Walkeshwar Road, were acquired from Microtech Developers, a listed company of the Lodha Group.

Agarwal's purchases include two apartments on the 25th floor, totalling 9,719 sq ft, acquired for over Rs 1.32 billion, and a single apartment spanning 9,535 sq ft on the 24th floor, purchased for Rs 1.30 billion. These transactions were registered on September 27, with a total stamp duty of nearly Rs 131.5 million paid. Mumbai's property market set a new benchmark in September with stamp duty collections exceeding Rs 11.21 billion.

These apartments also come with exclusive access to ten parking slots within the tower. The under-construction Lodha Malabar project recently witnessed India's most expensive apartment deal when the Taparia family acquired a triplex on the 26th, 27th, and 28th floors for Rs 3.69 billion.

The luxury tower, situated on a 1.08-acre plot opposite the governor's estate, with stunning views of both the Arabian Sea and the Hanging Gardens, is slated for completion by June 2026.

This purchase follows other high-profile real estate investments in Mumbai, including Bajaj Auto chairman Niraj Bajaj's acquisition of a sea-view luxury penthouse for over Rs 2.52 billion in the same under-construction project, and BK Goenka, Welspun Group chairman's purchase of a penthouse in Worli for Rs 2.40 Bn.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..