Billionaire industrialist Yohan Poonawalla and his wife Michelle Poonawalla have acquired a ₹500 crore mansion in the upscale Cuffe Parade area of South Mumbai. The expansive 30,000 sq ft standalone property will act as the couple’s secondary residence, while their primary residence will continue to be the iconic Poonawalla House in Pune, according to the resource. 

Yohan Poonawalla, chairman of Poonawalla Engineering Group and director of Poonawalla Stud Farms—one of Asia’s largest stud farms—is also the chairman of Poonawalla Financials and director of Poonawalla Racing and Breeding. At 52, he is the son of Zavaray Poonawalla, co-founder of the Serum Institute of India.

Yohan and Michelle Poonawalla’s new mansion in Mumbai is situated in the affluent Cuffe Parade area, where property prices range from ₹400 to ₹750 crore. The renovation of the mansion will be managed by MYP Design Studio, led by Michelle Poonawalla.

According to a Business Standard report, the Poonawalla Mansion spans the ground, first, and second floors and includes a spacious terrace that ensures privacy and exclusivity. MYP Design Studio will revamp the property to harmoniously combine "historic grandeur with contemporary elegance."

The billionaire couple intends to display their remarkable art collection in the mansion. In addition to works by renowned artists, the mansion will feature Michelle Poonawalla's distinctive oil paintings and house Yohan Poonawalla's esteemed automobile collection.