Dinesh Thakkar, founder, chairman and managing director of Angel One, has snapped up an entire residential tower in Mumbai for ₹ 711 crore. The sea-facing eight-storey tower is located in the upscale Juhu neighbourhood and is part of Embassy Developments’ Embassy Terazza project.
The skill set can be acquired later, but entrepreneurship is innate,” he said on Ranveer Allahbadia’s podcast two years ago. (Also read: Angel One founder buys Juhu bldg for ₹ 711 cr ) Dinesh Thakkar will be using the eight-storey tower as his family home. The founder added that the tower will be named Angelus. Dinesh Thakkar’s journey does not follow the conventional MBA to corporate success route. In fact, the founder of Angel One has studied only till the 12th grade. Despite being a college dropout, Thakkar managed to reach the heights of success through sheer determination and an instinct for business. “I believe that entrepreneurship is something that people are born with.
The company said the transaction is the largest single residential unit transaction in India. “When I started looking for a new home, my focus was on privacy, spaciousness, exceptional sea views and creating a luxurious, iconic sanctuary that would become our family home,” he said.
Early life and career
He lost money and went into debt during that time. Dinesh Thakkar was born into a business family in Mumbai’s Mulund suburb. His family was involved in the textile trading business. He initially joined the family business but found too many restrictions and chose to go his separate way. “When you take capital from family, there are certain kind of framework attached to that. So I just wanted to be a free bird,” he explained on The Indian Dream podcast. At that time, he had little knowledge of how stock brokerage worked. However, over the years, his business and knowledge grew. We have brought that philosophy to Mumbai, and in a relatively short period, it has resonated with some of the country’s most discerning buyers. When I started looking for a new home, my focus was on privacy, spaciousness, exceptional sea views and creating a luxurious, iconic sanctuary that would become our family home. We have named our dream home ‘Angelus’. I look forward to seeing ‘Angelus’ at Embassy Terazza take shape as a very special home for our family.”
He incorporated Angel Broking as a traditional stock brokerage firm in 1996. Thakkar’s broking business listed in Mumbai in 2020 as online trading took off during the pandemic lockdown, according to a Bloomberg report. Earlier reporting noted: Angel One founder buys Juhu bldg for ₹711 cr MUMBAI: In a largest single residential unit transaction in the country, Dinesh Thakkar, founder, chairman and managing director of Angel One Limited, a leading Indian fintech and financial services company, has bought an ultra-luxe residential tower, developed by Embassy Developments Limited, in Juhu for over ₹ 700 crore. Dinesh Thakkar’s acquisition of an entire tower at Embassy Terazza is a strong endorsement of that vision and the trust the Embassy brand has earned in Mumbai within 18 months of launching in the city.
Because of the Harshad Mehta scam, in 1992, he faced a setback.
“So I started with a small capital of ₹ 2.5 lakh.” (Also read: Mumbai’s new trophy asset: Forget penthouses, why the ultra-rich are buying entire luxury towers ) Dinesh Thakkar entered the brokerage business in the late 1980s. Earlier reporting noted: In a statement issued by his company, Thakkar said: “Juhu has always had a special character that very few locations in Mumbai can match. Earlier reporting noted: Speaking about the deal, Jitendra Virwani, chairman, Embassy Developments Limited said, “Over the last three decades, Embassy has built a deep understanding of what today’s homebuyers value most.
