Everest Food Products Pvt Ltd, renowned as Everest Spices, a leading Indian spice brand for over 52 years, spices-up its portfolio with its promoter acquiring a Rs 73.50 crore apartment in Mumbai's luxurious Three Sixty West project by Oberoi Realty. The high-rise project registered on October 30, is a part of Oberoi's 60-plus acquisitions in the luxurious development, previously making headlines for India's largest property deal in 2023.
Everest Food Products Pvt Ltd, recognized by the brand name Everest Spices, is an iconic Indian company engaged in the manufacturing, distribution and export of ground spices and spice blends. The company's founder, Shri. Vadilal Bhai Shah, officially registered the Everest brand and introduced its initial three products – Milk Masala, Garam Masala and Tea Masala – to the market in 1967. With a significant presence in the Indian spices market for the past 52 years, Everest is often regarded as India's No.1 spice brand. A 2007 study indicated that over two crore households regularly used Everest spices. Adding spice to his property portfolio, the promoter of Everest Food Products Private Limited has reportedly acquired an apartment valued at Rs 73.50 crore in the luxurious Three Sixty West project developed by Oberoi Realty in Mumbai's Worli area, as revealed by documents obtained by Zapkey.com. According to the documentation, the high-rise apartment spans 6,130 sq ft in carpet area, with an additional 164 sq ft. The transaction, inclusive of six parking spaces, was officially registered on October 30. Stamp duty of Rs 2.40 crore and registration charges of Rs 30,000 were paid by the buyers, as per the available documents, and Everest Food Products Private Limited has confirmed the completion of the transaction. Three Sixty West is a mixed-use development featuring two towers – one housing The Ritz-Carlton Hotel and the other hosting ultra-luxury residences managed by The Ritz-Carlton. The specific apartment in question is part of the 60-plus units acquired by Oberoi Realty in collaboration with Sahana Group from the project's developer, Oasis Realty. Oberoi Realty invested a total of Rs 4,000 crore to acquire Sahana Group's inventory in the project. In a previous significant transaction, Oberoi Realty had acquired a luxurious penthouse in the same development for Rs 230.55 crore, making it one of India's most substantial single-apartment deals. Another penthouse of similar size in Oberoi Three Sixty West was also purchased by BK Goenka of the Welspun Group for the same amount, Rs 230.55 crore. The Three Sixty West project made headlines in 2023 for marking India's largest property deal, involving the acquisition of 28 units by the family members and associates of Radhakrishna Damani, the billionaire founder of D’Mart, in Mumbai for Rs 1,238 crore. These transactions were officially registered on February 3.
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