Dabur chairman Anand C Burman to buy bungalow in Delhi for Rs 120 crore
ET Bureau|
Updated: Oct 10, 2017, 11.47 PM IST
NEW DELHI: The billionaire chairman of the Dabur Group, Anand C Burman, is in the process of purchasing a bungalow in New Delhi’s upmarket Jor Bagh area for Rs 120 crore, said a person who has direct knowledge of the matter.
Burman confirmed the plan to ET, but declined to provide any details. He is buying the 11,840-sq-ft bungalow from a Kolkata-based industrialist, the person with knowledge of the matter said. The transaction is yet to be completed, he added. Part of the fifth generation of the Dabur Group’s founder family, Burman is known for his interests in research & development in pharmaceutical sciences and has over 40 patents against his name. Forbes had estimated his net worth at $1.87 billion.
With Rs 7,700 crore annual consolidated revenue, Dabur ranks among the country’s top five FMCG companies. Two years ago, Dabur chairman-emeritus VC Burman bought a bungalow in New Delhi’s Golf Links area for Rs 160 crore. The Burmans also own a property on the posh Prithviraj Road in Central Delhi.
Analysts in the real-estate sector say purchases have become subdued this year on account of a slowing economy. A recent high-profile acquisition in Central Delhi was in June, when mobile wallet Paytm’s founder, Vijay Shekhar Sharma, bought a bungalow in Golf Links for an estimated at Rs 82 crore.
Burman confirmed the plan to ET, but declined to provide any details. He is buying the 11,840-sq-ft bungalow from a Kolkata-based industrialist, the person with knowledge of the matter said. The transaction is yet to be completed, he added. Part of the fifth generation of the Dabur Group’s founder family, Burman is known for his interests in research & development in pharmaceutical sciences and has over 40 patents against his name. Forbes had estimated his net worth at $1.87 billion.
With Rs 7,700 crore annual consolidated revenue, Dabur ranks among the country’s top five FMCG companies. Two years ago, Dabur chairman-emeritus VC Burman bought a bungalow in New Delhi’s Golf Links area for Rs 160 crore. The Burmans also own a property on the posh Prithviraj Road in Central Delhi.
Analysts in the real-estate sector say purchases have become subdued this year on account of a slowing economy. A recent high-profile acquisition in Central Delhi was in June, when mobile wallet Paytm’s founder, Vijay Shekhar Sharma, bought a bungalow in Golf Links for an estimated at Rs 82 crore.
