Rekha Jhunjhunwala purchases neighbouring building for Rs 118 cr for clear sea view from home: Report

Billionaire stock investor Rakesh Jhunjhunwala's wife Rekha Jhunjhunwala has reportedly bought almost all the units of a building in south Mumbai’s plush Walkeshwar Road on Malabar Hill so that there is no obstruction to the vista of the Arabian Sea from her new home.

Rekha has reportedly purchased a luxury apartment in south Mumbai’s plush Walkeshwar Road on Malabar Hill for over Rs 11.76 crore, which is spread over 1,666 sq ft carpet area on the third floor of residential tower Rockside Apartments. 

Rekha's RARE Villa residence is just behind sea-facing Rockside CHS, which was up for redevelopment, Moneycontrol reported. Rockside and six more buildings on Walkeshwar Road are up for renovation. 

The report said that sensing the redevelopment could potentially obstruct the prime sea-view from RARE Villa, Rekha went about acquiring each and every unit of the old building. The report said that registration documents showed that Rekha purchased nine apartments for Rs 118 crore since November 2023 from different dealers.

Sources said her family has actually purchased 19 of the 24 apartments in the building.

Rekha is now the biggest individual investor in India. She holds 26 stocks with a net worth of over Rs 50,980 crore in her portfolio. Top five investment bets in Rekha's portfolio includes two Tata Group companies - Titan Company and Tata Motors, Concord Biotech, their promoted entity Star Health and Allied Insurance Company; and Metro Brands, which cumulatively constitute about Rs 35,000 crore or more than two-third of the portfolio.

As of December 31, 2023, Rekha owned 4,76,95,970 equity shares, or 5.37 per cent stake worth Rs 17,500 crore in Titan Company. Her stake in Tata Motors stood at 5,32,56,000 equity shares, or 1.6 per cent, which is valued around Rs 5,000 crore.

Jhunwjhunwala owned 10,07,53,935 equity shares, 17.22 per cent stake in Star Health and Allied Insurance Company as of the quarter ended on December 31, 2023. Her stake is valued around Rs 5,700 crore.