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17

Indian Billionaire Pays $120 Million for Occasional Weekend Home

By Tony Seruga

Lincoln House in Mumbai.

Lincoln House in Mumbai.

Photographer: AFP/Getty Images

Billionaire Poonawallas buy ex-U.S. consulate for holiday home
Former maharajah’s palace on two-acre seaside plot in Mumbai

What do you do with your new $120 million home? Visit it on Saturdays and Sundays.

The billionaire Indian Poonawalla family last week agreed to pay that much for a former maharajah’s residence in Mumbai that most recently had been the U.S. consulate in the city. The owners of Asian’s largest maker of vaccines may use it about two days a week.

“We always visited Mumbai on the weekends,” Adar Poonawalla, chief executive of Serum Institute of India Ltd., said in an interview Wednesday in Pune where he lives, about four hours from Mumbai. “We have a lot of our horse racing in Mumbai on the weekends. It’s not going to increase my visits.”…

Indian Billionaire Pays $120 Million for Occasional Weekend Home

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