Divi’s Labs founder’s daughter buys two properties in Hyderabad for Rs 80 crore

ncorporated in October 1990, Divis Lab is a pharmaceutical and biotechnology company engaged in generic active pharmaceutical ingredient (API), custom synthesis and nutraceuticals.

Nilima Prasad Divi, daughter of Murali Divi, the founder of Indian pharma MNC Divi’s Laboratories, has bought two properties in Hyderabad's posh Jubilee Hills for Rs 80 crore, documents from Zapkey show.

Each of the properties, which costs Rs 40 crore, sprawls 11,043 square feet or 1127 square yards and is located in the same area. The sale agreement was signed on May 2, 2024, documents show.

A list of queries has been sent to Divi’s Labs.

Luxury property demand

Rich and renowned people, who are increasingly searching for homes in low-density neighbourhoods, are drawn to the posh Jubilee Hills.

Related stories

Souptik Datta

Sub Editor|Moneycontrol

• 
  If illegal floors can't be razed, demolish the building, says Karnataka High Court
• 
  Karnataka RERA asks Ozone Group to repay homebuyer's home loan, clears all liabilities on buyer
• 
  India turns 2nd fastest-growing data center market in Asia-Pacific with 28% growth in capacity

Plot sizes in Jubilee Hills are often more than 1,000 square yards, according to brokers in the city. In this case, the apartment was priced at Rs 72,000 per square foot, however, local brokers say properties in affluent areas like Jubilee Hills, Banjara Hills, and Gachibowli are often sold at more premium rates.

Last year, the owner of business conglomerate GVK Group, which focuses on infrastructure, energy, resources and airports, sold two properties spread across an area of 2,812 square yards for Rs 73.81 crore in Jubilee Hills.

"Residential demand maintains its robust momentum, characterised by a notable surge in demand for premium Hyderabad homes as evidenced in February 2024. Prices have consistently risen since the onset of the pandemic, and February has faithfully adhered to this trend, with homebuyers persistently gravitating towards higher-value properties,” Shishir Baijal, Chairman and Managing Director of Knight Frank India, said.

Incorporated in October 1990, Divi’s Labs is a pharmaceutical and biotechnology company engaged in generic active pharmaceutical ingredient (API), custom synthesis and nutraceuticals. The company has global leadership in contract research and manufacturing services and generic APIs.