The owner of the supermarket chain DMart, Radhakishan Damani has purchased a luxurious house worth Rs. 1000 crores at Malabar Hills in south Mumbai. He is an Indian billionaire and invests in the retail sector.

Gopikishan his brother and Radhakishan Damani purchased a 5752.22sq ft house, the market value of the property is Rs 724 crore and it was registered on 31st March 2021. The property at Malabar Hills was purchased from Pareshchand Roychand & Sons, Purachand & Sons, and Premchand Roychand & Sons.

As per the documentation recorded in the Registry department of the Government of Maharashtra, Damani paid Rs 30 crore as stamp duty for that new house which is bought from Jayesh Shah, Varsha Mehta and Saurabh Mehta. Saurabh Mehta is the trustee of Purachand Roychand & Sons and Varsha Mehta is the trustee of Pareshchand Roychand & Sons, Jayesh shah is the partner at Premchand Roychand & Sons.

According to Forbes India’s rich list of 2020, Damani ranked at the fourth position as India’s richest man. As per the Hurun India Rich List 2021, Damani ranked 8th position with a net worth of $14.5 bn. He is the only businessman who maximised his profit and revenue in the time of the Coronavirus pandemic. Damani already has another property at Altamount Road in Mumbai. As per news reports he also acquired an 8-acre property from Mondelez India.

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And in recent period his supermarket chain D’Mart purchased 39,000 sq areas with 2 floors that are under Wadhwa Construction in Mumbai. The D’Mart had earned 16.3 % profit year-on-year and the net profit increased to Rs 446.95 crore in the FY20-21. In the FY21 in third-quarter revenue of the company was Rs 7,542 crores.

 

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