Clubs, hotels and residences: family of minor in Pune Porsche crash ‘worth over Rs 600 crores’

In the mid-2000s, the company split with the sons of the family scion going all out to get the majority share of the family empire.

A technical team from Porsche checking the car involved in the crash. (Express photo)

Luxury clubs and hotels, high-rise commercial properties and multiple residential projects — the family of the juvenile involved in the Porsche car accident has presence in almost all verticals of the real estate in the city. The company which was started by the great grandfather of the juvenile, has now grown into a multi-crore company with substantial expanse across Pune and Pimpri Chinchwad.

The scion of the family — the great grandfather of the juvenile, had started the company in the early 1980s. In the early 1990s, the company built the first luxury club in the city as well as a five-star property in the city. Since 2000s, the company forayed heavily into residential projects mostly in Undri, Kalyani Nagar, Wagholi and other parts of Pune. Various reports suggest the company being officially valued close to Rs 500-600 crore.

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In the mid-2000s, the company split with the sons of the family scion going all out to get the majority share of the family empire. After the split, the juvenile’s grandfather and father diverted their interest in infrastructure other than residential and commercial real estate. Soon after the Porshce crash, the other company put out a public notice denying any relation with this company.

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At present, the company has ongoing commercial projects in Pimpri Chinchwad as well as in parts of Pune. Recently, the company has finalised a land deal for development in the Wagholi area of Pune. Since the incident, the official website as well as Linkedin page of the company has been disabled.

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Controversies have not been new to the family — who are among one of the top realtor families of the city. Recently, one of the ex-corporators of Shiv Sena had alleged that the grandfather of the juvenile had tried to get him killed using underworld dons. There were allegations of land grab which were not proved against the family. The family lawyer, while arguing for the release of the grandfather, has claimed the CBI has given the family a clean chit in the previous cases.

Parthasarathi Biswas

Partha Sarathi Biwas is an Assistant Editor with The Indian Express with 10+ years of experience in reporting on Agriculture, Commodities and Developmental issues. He has been with The Indian Express since 2011 and earlier worked with DNA. Partha's report about Farmers Producer Companies (FPC) as well long pieces on various agricultural issues have been cited by various academic publications including those published by the Government of India. He is often invited as a visiting faculty to various schools of journalism to talk about development journalism and rural reporting. In his spare time Partha trains for marathons and has participated in multiple marathons and half marathons. ... Read More

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