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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The big-ticket purchase is part of a trend where the super rich are ready to fork out eye-popping sums for independent mansions, a scarce commodity in the city.
Editor's note: Mahatma Gandhi’s idea that the wealthy must act as trustees of their wealth for the larger good of the people and avoid ostentatious displays of it seems to have finally received a burial. India’s ever growing population of billionaires seem to have cast off their socialist baggage. Once and for all. If Mukesh Ambani set off the trend of splurging out on a home with his estimated $1 billion skyscraper (land and building costs taken together) in 2012, Radhakishan Damani, the reclusive stockbroker-turned-business magnate who owns the DMart chain of retail stores, took it to a whole other level with his Rs 1,001 crore acquisition of an over a century old bungalow in South Mumbai recently. Damani’s March-end acquisition of Madhu Kunj, a two-storeyed bungalow measuring 61,916.3 sq. feet in South Mumbai’s Malabar Hill area, is the most expensive residential deal ever in the country if one goes by what he paid for the built-up area. If that wasn’t enough, he paid a whopping Rs 30 crore as stamp duty. Damani had been scouting around for an independent bungalow for …
The big-ticket purchase is part of a trend where the super rich are ready to fork out eye-popping sums for independent mansions, a scarce commodity in the city.
Editor's note: Mahatma Gandhi’s idea that the wealthy must act as trustees of their wealth for the larger good of the people and avoid ostentatious displays of it seems to have finally received a burial. India’s ever growing population of billionaires seem to have cast off their socialist baggage. Once and for all. If Mukesh Ambani set off the trend of splurging out on a home with his estimated $1 billion skyscraper (land and building costs taken together) in 2012, Radhakishan Damani, the reclusive stockbroker-turned-business magnate who owns the DMart chain of retail stores, took it to a whole other level with his Rs 1,001 crore acquisition of an over a century old bungalow in South Mumbai recently. Damani’s March-end acquisition of Madhu Kunj, a two-storeyed bungalow measuring 61,916.3 sq. feet in South Mumbai’s Malabar Hill area, is the most expensive residential deal ever in the country if one goes by what he paid for the built-up area. If that wasn’t enough, he paid a whopping Rs 30 crore as stamp duty. Damani had been scouting around for an independent bungalow for …
FY26 numbers show that Airtel is stealing a march on its larger rival on most counts and is unrelenting in its ambition, casting a cloud on Jio’s valuation.
Surprisingly strong metrics alongside aggressive expansion mask a lurking balance-sheet risk. Moreover, competition is not going to be kind to the retail giant any time soon.
Telecom and retail both continue with their ‘hit and miss’, while O2C delivers an unsurprisingly poor performance in Q4. This is a year RIL will be glad to see the back of.
FY26 numbers show that Airtel is stealing a march on its larger rival on most counts and is unrelenting in its ambition, casting a cloud on Jio’s valuation.
Surprisingly strong metrics alongside aggressive expansion mask a lurking balance-sheet risk. Moreover, competition is not going to be kind to the retail giant any time soon.
Telecom and retail both continue with their ‘hit and miss’, while O2C delivers an unsurprisingly poor performance in Q4. This is a year RIL will be glad to see the back of.
