Story perspectives

Dinesh Thakkar buys Mumbai’s Angelus tower for INR711 crore

By Drooid · Sep 23, 2026, 4:16 AM UTC · How we work

Summary

Dinesh Thakkar Buys Tower

Dinesh Thakkar, founder of Angel One, bought the Angelus tower in Mumbai for Rs 711 crore.
The seven-storey tower covers 63,000 sq ft of RERA-carpet area, valued at about Rs 1 lakh per sq ft.
Embassy Developments’ shares rose up to 8.3% in early trade after the sale.
The transaction is described as India’s largest single residential-unit deal.

Summary

Thakar Launches Tower

The Embassy Terazza tower forms part of a 2-acre ultra-luxury, low-density development.
Each floor houses a single residence across five towers, offering panoramic sea and city views.
Founder Dinesh Thakkar left school after Class 12, quit his family’s textile business, and lost INR6 lakh in the 1992 Harshad Mehta scam.
Thakkar’s car collection includes a Lamborghini Huracán Performante, a Ferrari 488 Pista and a Porsche GT3 RS.

History

Historical Context

In April 1992 the Harshad Mehta securities scam collapsed the Bombay Stock Exchange, wiping roughly INR5,000 crore and triggering a 40% market plunge. The fallout spurred SEBI’s tighter rules and the National Stock Exchange’s shift to electronic trading, cutting fraud dramatically. Today, Mumbai’s luxury property market, driven by investors who profited from those reforms, showcases the long-term impact.

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Dinesh Thakkar Buys Tower

Dinesh Thakkar, founder of Angel One, bought the Angelus tower in Mumbai for Rs 711 crore.
The seven-storey tower covers 63,000 sq ft of RERA-carpet area, valued at about Rs 1 lakh per sq ft.
Embassy Developments’ shares rose up to 8.3% in early trade after the sale.
The transaction is described as India’s largest single residential-unit deal.

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