Mukesh Ambani’s Grand Gesture of Appreciation
Mukesh Ambani, India’s richest person, has gifted a luxurious 22-storey building worth Rs. 1,500 crore to his most-trusted employee, Manoj Modi, in a grand gesture of appreciation. The property was presented to Modi a few months ago in Mumbai’s plush Nepean Sea Road area, according to Magicbricks.com. The building is named ‘Vrindavan’ and has been designed by Talati & Partners LLP, with furniture sourced from Italy.
The Recipient: Manoj Modi, The Billionaire’s Right Hand
Manoj Modi is known as the billionaire, Mukesh Ambani’s right hand and has played a pivotal role in securing multi-billion dollar deals at Reliance Industries. Mukesh Ambani, the chairman and owner of Reliance Industries, decided to reward him with a grand gift. Modi currently serves as a Director at Reliance Retail and Reliance Jio and owns large-scale projects of Reliance such as Hazira petrochemical complex, the Jamnagar refinery, the first telecom business, Reliance Retail, and 4G rollout, as per Magicbricks.com.
The Property Details: ‘Vrindavan’ Designed by Talati & Partners LLP, With Furniture Sourced From Italy
Nepean Sea Road, located in South Mumbai, is one of the most upscale localities, with properties costing between Rs. 45,100 to Rs. 70,600 per square foot. The building spans across 1.7 lakh square feet, with each floor covering an area of 8000 square feet. However, parking is restricted to the 7 floors in this building. With the gift of this luxurious property, Modi has now become the envy of many.
Mukesh Ambani chairs and runs $104 billion (revenue) Reliance Industries, which has interests in petrochemicals, oil and gas, telecom, and retail. The company was founded by his late father Dhirubhai Ambani, a yarn trader, in 1966 as a small textile manufacturer. After his father’s death in 2002, Mukesh Ambani and his younger sibling Anil divvied up the family empire. Reliance sparked a telecom price war with the launch of 4G phone and broadband service Jio in 2016. Today, it has more than 430 million subscribers and is rapidly rolling out 5G services.
Recently, Mukesh Ambani has been pivoting Reliance into green energy. The company will be investing $80 billion over the next 10-15 years on renewable energy and building a new complex next to its refinery. The move has been welcomed by environmentalists as it indicates that large corporations are taking significant steps towards cleaner energy production.
The Nepean Sea Road area is known for its verdant surroundings, top-notch facilities, and robust social infrastructure. The area boasts of world-class amenities and is flanked by the sea on three sides. The property gifted by Mukesh Ambani to Modi is a symbol of appreciation and gratitude for his contributions to Reliance Industries. The luxurious building is expected to enhance the prestige of the Nepean Sea Road area and boost its property values.
In conclusion, Mukesh Ambani’s grand gesture of appreciation towards Manoj Modi has made headlines in India. The gift of a luxurious 22-storey building in one of Mumbai’s most upscale localities is a testament to Modi’s hard work and dedication towards Reliance Industries. This move has been praised as an example of corporate appreciation and has set a high benchmark for other companies to follow.