Mumbai, 4 April : In a biggest residential property deal this year founder of DMart Radhakishan Damani has purchased a bungalow property at Narayan Dabholkar road in South Mumbai for a price of whooping 1,001 crore.According to property market sources this property is spread on 1.5 acres at a very prime location in Malabar Hill. The bungalow named Madhkunj is now the property of Damani.30 crore rupees were paid for the stamp duty of registration of this property. According to sources this purchase happened last month and it is not yet confirmed that this 80 years old beautiful heritage property will be redeveloped or not.This purchase has made buzz in the financial market of India and the curiosity about the name Radhakishan Damani is increased among the common people of the country.
Who is Radhakishan Damani? Damani was born into a Indian Marwari family in 1954. Radhakishan Damani has started his journey form a small place named Karad in Maharashtra. His father Shivkishanji Damani was also a share market investor. Radhakishan Damani started investing in the share market after the death of his father at the age of 20.Damani took admission in the commerce field at Mumbai University but after the first year of his degree course he dropped out of the college to join his brother Gopikishan Damani in the stock market.
The Entrepreneurial journey of Radhakishan Damani Radhakishan Damani started as an investor by investing in companies like VST industries, Samtel Limited, Somany Ceramics, 3M india, Jay Shree Tea, Trent, Jubilant Foodworks.After minting money from the stock market Damani decided to embark on an entrepreneurial journey in 2002. He started DMart with only one store in Powai, Mumbai. Since then Damani has not looked back. He is called ‘Mr. White and White’ in financial markets in India because of his style of wearing white shorts and white trousers. Currently Damany is regarded as one of the richest personalities in the country. In fact Damani made his Avenue supermarts public in 2017 to become the second richest business tycoon after Mukesh Ambani.Currently DMart has 200 stores across the country. The huge purchase of his house has certainly raised many eyebrows in the country.
