Divi Labs founder's daughter acquires two properties in Hyderabad for ₹80 crore

By Bricksnwall | 2024-05-24

Nilima Prasad Divi, daughter of Divi's Labs founder, has purchased two houses in Hyderabad's affluent Jubilee Hills region for ₹80 crore, according to records accessed by Zapkey.

Murali Divi started the pharmaceutical firm Divi's Laboratories, which was incorporated in 1990. It is a manufacturer of active pharmaceutical ingredients and intermediates with headquarters in Hyderabad. The two properties cost ₹40 crore apiece, totaling ₹80 crore, according to the records.

The transaction was registered on May 2, 2024. The most expensive areas in Hyderabad include Jubilee Hills and Banjara Hills.

A query has been submitted to Nilima Prasad Divi.

In March 2023, GVK Group sold two properties in Hyderabad for ₹73.81 crore, according to deeds of sale.

Knight Frank India, a real estate consultancy firm, reported 26,027 property registrations in Hyderabad in the first four months of 2024, totaling ₹16,190 crore. This represents a 15% YoY increase in registrations and a 40% YoY increase in total value compared to the same period last year.

As many as 56% of the properties sold in Hyderabad were in the below ₹50 lakh range, almost 27% of properties were priced between ₹50 lakh and ₹1 crore range and 17% properties in the above ₹1 crore price bracket.

Source: Hindustan Times