Ignatius Navil Noronha was named India’s richest professional manager in 2021
Last weekend saw one of the largest-value Mumbai real estate spends of the year, as DMart CEO Ignatius Navil Noronha snatched up two apartments for Rs. 70.3 crore in Mumbai’s Bandra East.
Purchased jointly by the CEO and his wife Kajal Noronha, the combined 9,552 square feet purchase is spread between the 24th and 25th floor of Rustomjee Seasons — an under-construction super premium property located close to the business district of Bandra Kurla Complex. According to MoneyControl, the deal also includes a sizeable 10-car parking and 912 square foot terrace deck.
Described as ‘BKC’s Landmark Address’, the huge 3.8-acre estate offers one of the most comprehensive amenities lists in Mumbai’s hotly-contested luxury real estate market. According to Rustomjee:
“Right in the heart of the BKC Annexe and minutes away from the Western Express Highway, the buzzing nightlife of Bandra, prominent headquarters, educational institutions, and entertainment hubs such as the MCA Club, the Trident, the Sofitel Hotel, Rustomjee Seasons is where you’ll discover that style converges with convenience.”
The well-established builder has established plans for a mini-film theatre, Italian fine dine experience, performance studio, extensive landscaping, and more — all likely suiting Norohna’s needs.
The 47-year-old executive, who has worked with Dmart’s parent firm Avenue Supermarkets Ltd. for over 15 years, was named the wealthiest professional manager in India last year, with a 2% stake in the firm. Dmart founder Radhakrishna Damani happens to hold the real estate crown in India — owning the Rs. 1,001 crore-valued Madhukunj, a 61,914 square foot estate located in South Mumbai’s Malabar Hill.
Lead Image: Rustomjee
