Lakshmi Mittal, Mukesh Ambani, Anil Ambani and K.P. Singh in the top 10 richest list of Forbes

By Vipin Agnihotri

It’s official. Four Indian industrialists, namely, Lakshmi Mittal, Mukesh Ambani, Anil Ambani and property tycoon K.P. Singh are among the top 10 richest individuals in the world, according to a survey conducted by Forbes magazine.

In my opinion, a phenomenal surge in the sensex last year took them to the top of the totem pole. Point to be noted here is that India has the maximum number in the top 10 followed by US, which has two. On the other hand, Germany, Mexico, Sweden and Russia have one each.

It is worthwhile pointing that in 2007 there was only one Indian, Lakshmi Mittal in the top 10. According to Forbes survey, Warren Buffett, the legendary investor with a $62-billion net worth, is the world’s richest man. Buffett dislodged Microsoft chief Bill Gates ($58 billion), who tumbled to the third spot after a hostile bid for Yahoo that sent the software giant’s stocks plunging by more than 15 per cent.

The second spot has gone to Mexican telecom czar Carlos Slim Helu who is worth $60 billion. After Gates, the pecking order has three Indians: Lakshmi Mittal ($45 billion), Mukesh Ambani ($43 billion) and Anil Ambani ($42 billion).

Although, Anil Ambani’s Reliance Power Ltd made a torrid start on the bourses but interestingly Anil Ambani is the biggest gainer among all the billionaires. In terms of statistic, his net worth has soared $23.8 billion.

Talking about his brother Mukesh Ambani, Mukesh’s fortune has risen $22.9 billion since last year and he is the world’s second biggest gainer in dollar terms. DLF chairman K.P. Singh, who figures in the eighth place, is worth $30 billion.

Forbes used number of parameters to arrive at the wealth of each billionaire. The pivotal factor here is that stock prices were calculated using market prices and exchange rates as of market closings on February 11. In addition, Forbes also went through holdings of publicly traded companies, private investments, real estate and art collections.

According to experts, rise of Indians, particularly the two Ambanis and Singh, on the rich list is not surprising especially when one takes into consideration the fact that their individual businesses have performed admirably over the past year.

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The Mukesh and Anil Ambani Portfolios

The India Street Analysis

By Sundaramurthy Vadivelu

The India Street published Rakesh Jhunjhunwala’s portfolio few months ago. Mukesh Ambani was reported to be the world’s richest person by Indian media. But it was denied immediately by Reliance.

While there are many figures floating around media about their net worth, The India Street attempts to look from a different angle: their family shareholding in Reliance.

Mukesh is married to Nita and they have three children, Akash, Isha and Anant. Anil is married to Tina and they have two sons, Jaianmol and Jaianshul.

We discussed about Mukesh Ambani and Anil Ambani group companies in my earlier article, “Mukesh Ambani vs Anil Ambani : Which Brother's Companies are the better Investment?” as well as “Hot or Not? Ambanis on a dream run!”

Let us analyze the Ambani families’ (including Kokila Ambani) stake in Reliance group companies. We will be discussing only the shareholding in the names of family members.

The data source for the tables given below is BSE web site, www.bseindia.com and it is as on September 30, 2007.

Mukesh Ambani group companies:

Reliance Industries Limited:

Name	Number of shares	% of total shares
Kokila Ambani	3665227	0.26
Mukesh Ambani	1807923	0.13
Nita Ambani	1699073	0.12
Akash Ambani	1681595	0.12
Isha Ambani	1682195	0.12
Anant Ambani	50000	0.00

If we add all the shareholding, it amounts to only 0.75% of the total number of shares. At the current market price of Rs.2713 the market value of the family’s holding works out to Rs.2872 crores.

Mukesh Ambani family does not have a single share on their name in Reliance Petroleum Limited and Reliance Industrial Infrastructure Limited. Interestingly, Anil Ambani controlled Reliance Capital has 1.06% stake in RIIL.

Anil Ambani group companies:

Reliance Energy Limited:

Name	Number of shares	% of total shares
Kokila Ambani	274891	0.12
Anil Ambani	139437	0.06
Tina Ambani	123812	0.05
Jaianmol Ambani	125231	0.05
Jaianshul Ambani	7	0

At the current market price of Rs.1852, the market value is around Rs.123 crores. But, their total shareholding percentage is just 0.28.

Reliance Natural Resources Limited:

Name	Number of shares	% of total shares
Kokila Ambani	3665227	0.25
Anil Ambani	1859171	0.13
Tina Ambani	1650832	0.11
Jaianmol Ambani	1669759	0.11
Jaianshul Ambani	100	0

In RNRL, Ambanis have slightly more shareholding at 0.60% and the market value is Rs.126 crores at the current price of Rs.142.

Reliance Communications Limited:

Name	Number of shares	% of total shares
Kokila Ambani	4665227	0.23
Anil Ambani	1859171	0.09
Tina Ambani	1650832	0.08
Jainmol Ambani	1669759	0.08
Jainshul Ambani	100	0

The current market price is Rs.787 and the market value is Rs.774 crores.

Reliance Capital Limited:

Name	Number of shares	% of total shares
Kokila Ambani	545126	0.22
Anil Ambani	273891	0.11
Tina Ambani	263474	0.11
Jaianmol Ambani	83487	0.03
Jaianshul Ambani	5	0

At Reliance Capital’s current price of Rs.1986 the market value works out to Rs.232 crores.

Total market value of Anil Ambani family portfolio is around Rs.1254 crores.

Conclusion:

Under the promoter and promoter group category, Reliance Industries Limited has 48 individuals/companies listed, for e.g. Petroleum Trust, Reliance Enterprises Limited etc. Similarly, the Anil Ambani group companies feature names like AAA Project Ventures Private Limited, Reliance Innoventures Private Limited, AAA Power Systems Global Private Limited, AAA Communication Private Limited, AAA Enterprises Private Limited etc. The Ambanis’ stake in these companies is not available.

Also, it is virtually impossible to know what other companies stocks they buy on their names. Obviously it is difficult to guess why they are not interested in increasing their personal stake in group companies.

Given this kind of a scenario, it is hard to estimate their actual share holding and the market value.

Sundaramurthy Vadivelu

Mukesh Ambani vs Anil Ambani Which Brother's Companies are the better Investment?

Sundaramurthy Vadivelu

Disclosure Please click on the above link to view the disclosure document before reading this article. The contents may not be reproduced in any form without obtaining prior permission from the publisher. Please send your feedback

In my previous article, “Hot or Not? Ambanis on a dream run!” we discussed about Mukesh Ambani and Anil Ambani group companies’ stock performance. In this article let us analyze these stocks both from fundamental as well as technical perspective.

Mukesh Ambani

Anil Ambani

The combined wealth of the Ambani brothers works out to USD 78.6 billion, making them the richest Indian family and the second richest family in the world. While Mukesh Ambani’s assets are worth USD 53.9 billion, Anil Ambani’s companies are worth USD 24.7 billion. (Source: The New World’s 5 Richest Families by The India Street.)

The following table shows the stock market performance of the companies in the last 6 months and one year.

Mukesh Ambani group companies:

Scrip	6 month return	1 year return
Reliance Industries	67.31	117.76
Reliance Petroleum	130.46	173.83
Reliance Industrial Infra	484.97	435.31

Note: Indian Petrochemical Corporation Limited, a Mukesh Ambani group company has now been amalgamated with Reliance Industries Limited and its shareholders have been allotted 1 Reliance share for every 5 shares of IPCL held by them.

Anil Ambani group companies:

Scrip	6 month return	1 year return
Reliance Communications	62.05	104.00
Reliance Energy	190.51	227.49
Reliance Capital	145.09	213.46
Reliance Nat’l Resources	263.39	311.79

The minimum returns in either of the Ambani group companies is 62% by Reliance Communications in the last 6 months; The maximum return is 485% by Reliance Industrial Infrastructure Limited.

In my previous article, “5 Great Long Term India Stock Buys” we analyzed Reliance Petroleum and Limited and found it suitable for long term investment. In our “Stock of the Week” series, we analyzed Reliance Energy Limited and mentioned that long term investors need to look out for a monthly close above 818.40 with good volumes. It closed at 1206 last month. This month, it has touched a high of 1959. In another article, “Hot or Not? Ambanis on a dream run!” we discussed about Reliance Natural Resources Limited and Reliance Industrial Infrastructure Limited.

The daily chart of Reliance Industrial Infrastructure is shown below.

We can notice the “one sided” price movement in the above chart. After 4 consecutive 10% upper freeze sessions, the stock hit 19 successive 5% upper freeze sessions. This may be considered “over manipulation”.

RNRL closed at 52 on September 19. After 4 trading sessions, it closed at 95.30 on September 25, gaining 83.3%. Such sharp rise was definitely an unexpected one, though technically the stock had broken out in third week of July.

If we exclude these two companies, it can be seen that Reliance Industries has performed marginally better compared to Reliance Communications; Reliance Energy and Reliance Capital have performed better than Reliance Petroleum.

Ranking based on financial ratios:

The following table shows the market capitalization of the companies.

Scrip	M-Cap Rs. crores	Scrip	M-Cap Rs. crores
RELIANCE	360,779	RCOM	154,406
RPL	82,575	RELCAPITAL	43,796
RIIL	3,950	REL	36,043
		RNRL	15,792
Total	447,304	Total	250,037

Mukesh Ambani group companies’ market capitalization is much higher (more than Rs.197,000 crores).

The following tables list the P/E and P/BV ratios:

Scrip	P/E	P/BV
Reliance Industries	31.02	5.88
Reliance Petroleum	-	-
Reliance Industrial Infra	206.65	34.20

Note: According to Reliance Petroleum media release, the company has achieved over 70% overall progress in implementation of its large and complex refinery, coming up in a Special Economic Zone at Jamnagar. Based on the progress made till date, in the engineering, procurement and construction activities, RPL expects to complete the project ahead of December 2008. So P/E and P/BV ratios are not available.

Scrip	P/E	P/BV
Reliance Communications	54.96	7.52
Reliance Capital	50.85	8.42
Reliance Energy	42.36	4.17
Reliance Nat’l Resources	359.26	11.45

Due to the sharp price rise in RIIL and RNRL the P/E and P/BV ratios are high.

A P/E ratio of 10 to 17 is considered “fair” for many companies. If the P/E is between 17 and 25, the stock may be considered “growth” stock and the market may expect that the earnings are likely to increase substantially in future. However, for those stocks with a P/E of more than 25, it could be a case of “stock market bubble” i.e. overvaluation. This may be attributed to large amounts of money flowing into the market during a certain period of time.

The following table shows the P/E ratios of some of the ‘blue chip’ companies.

Scrip	M-Cap	P/E
ONGC	236,966	14.97
Infosys Tech.	105,360	26.30
ICICI Bank	122,049	37.37
Bharti Airtel	187,171	40.41
Larsen & Toubro	97,585	60.09

Reliance Industries has diversified businesses in polymers, petrochemical, refining etc. So it is difficult to compare this company with another company. Going by P/E ratios, we find that it is somewhat ‘cheaper’ compared Larsen & Toubro.

Reliance Communications has a much higher P/E compared to Bharti Airtel. IL & FS Investmart, which is an asset management company, has a P/E of 40.20, Cholamandalam DBS has a P/E of 15.17. These companies could be considered ‘cheaper’ than Reliance Capital. Tata Power has a lower P/E of 30.66 compared to Reliance Energy’s 42.36.

While Reliance Industries can be considered a ‘value’ stock (even at the current price levels), Reliance Communications, Reliance Energy and Reliance Capital may be considered ‘growth’ stocks.

Conclusion:

Based on the performance in last one year and at current valuations, Anil Ambani group stocks can be considered better valued in the stock market.

Sundaramurthy Vadivelu

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Hot or Not? Ambanis on a dream run! Which of India’s Top 10 “Family Named” Stocks is Most Valuable? – Part 1 Which of India’s Top 10 “Family Named” Stocks is Most Valuable? – Part 2 of 3 Which of India’s Top 10 “Family Named” Stocks is Most Valuable? – Part 3 of 3 The New World’s 5 Richest Families

Mukesh and Anil Ambani once again at the negotiating table

By Vipin Agnihotri

I am sure that you are fully aware of the last time Mukesh and Anil Ambani negotiation across the table. It was in year of 2005, when their mother Kokila Ben oversaw the split of the Reliance empire between the two estranged brothers.

It has come into the notice of The India Street that both Mukesh and Anil Ambani are once again forced to come to the negotiating table. This time around it is the Bombay High Court that’s asking them to do so not Kokila Ben.

It is worth mentioning in this regard that few days back, Bombay High Court gave Ambani brothers a period of four month to negotiate the commercial details of a gas deal that was signed as part of the split two years ago.

According to highly placed sources, as part of the settlement, the Mukesh Ambani controlled Reliance Industries Limited would supply gas to the Anil Ambani controlled Reliance Energy’s proposed 7,000 MW power plant in Dadri, Uttar Pradesh.

The question now arises: What does it mean to the Ambani brothers? In my opinion, for Anil Ambani it validates the sanctity of the deal over which Mukesh Ambani has been dragging his feet. Point to be noted here is that if the gas price and terms of supply are sorted out, Anil Ambani can look forward to getting his mega project off the ground.

On the other side of the coin, for Mukesh Ambani the court order has precipitated a four-month delay in sewing up 37 per cent of the total supply from his gas wells in Krishna- Godavari basin, off the coast of Andhra Pradesh. This is quite important since production from the $ 6 billion investment is slated to commence next year.

There were some reports in the Indian media that Mukesh Ambani lobbied the government to hold a string of cabinet level meetings to approve Reliance Industries Limited gas pricing. The good news for Mukesh Ambani is that the court has not endorsed the pricing suggested in the original contract.

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Hot or Not? Ambanis on a dream run!

Sundaramurthy Vadivelu

Disclosure Please click on the above link to view the disclosure document before reading this article. The contents may not be reproduced in any form without obtaining prior permission from the publisher. Please send your feedback

The Ambanis: Anil, Dhirubhai and Mukesh

Dhirajlal Hirachand Ambani (28 December 1932 - 6 July 2002), was instrumental in bringing first time Indian investors to stock market. After working in Gulf as dispatch clerk, he returned to India to start Reliance Commercial Corporation with an investment of Rs.15,000. It was engaged in polyster yarn import.

He started a textile mill at Naroda, Ahmedabad to manufacture textiles using polyester fibre yarn. He implemented backward integration philosophy and a petrochemical complex at Patalganga in Maharashtra was set up to produce polyesters, intermediates and petrochemicals. Reliance established another petrochemical complex at Hazira near Surat in Gujarat to manufacture ethylene, propylene, ethylene glycols, polymers like polypropylene, polyvinyl chloride, polyester intermediates like pure terephthalic acid, polyester filament yarn etc.

His dream project, of course, was a grass root refinery. The 27 million metric ton grassroot refinery at Jamnagar, Gujarat came up in 1999. Reliance has diversified into power, telecom, infrastructure, capital markets, insurance, logistics, retail etc.

At the time of Dhirubhai’s demise, Reliance Group had a gross turnover of Rs. 75,000 crore. This was 1000 times its 1976 – 77 turnover of Rs.70 crore.

Reliance came out with their first IPO in 1977 and Dhirubhai convinced people in rural Gujarat that his company would yield substantial returns to shareholders. This happened at a time when the awareness among public about stock markets was minimum.

Have his sons, Mukesh and Anil, lived up to Dhirubhai’s repuations? The answer is a big YES, as can be seen from the tables below.

Mukesh Ambani Group Companies’ Performance:

Scrip	3 month return	1 year return	5 year return
IPCL	34	50	621
RELIANCE	38	104	822
RIIL	140	138	3,542
RPL	74	150	NA

Anil Ambani Group Companies’ Performance:

Scrip	3 month return	1 year return	5 year return
RCOM	17	72	NA
REL	85	137	396
RELCAPITAL	45	196	3,370
RNRL	167	307	NA

For details about close prices on various dates, please click here.

In the last 1 year, IPCL and RCOM have gained more than 50%; All other companies have gained more than 100%. In the last five years (After Dhirubhai’s demise) RELCAPITAL and RIIL have got multiplied by more than 30 times; REL, IPCL and RELIANCE have gained more than 4, 6 and 8 times respectively.

Dhirubhai is no more; but his dreams have become true. Those who had faith in him and his companies have been thoroughly rewarded.

Let us now analyze some of the medium term charts of these companies.

In late 2004, the media reported that there was some dispute among Ambani brothers regarding ownership of group companies. The Hindu Businessline dated November 30, 2004 read:

“THE Ambani controversy was today stoked further with the despatch of another e-mail to the employees of Reliance Industries Limited, this time by the Vice-Chairman, Mr Anil Ambani, obliquely emphasising the brothers' equal status in the corporate group.

… This is the third email to the employees from the Ambani brothers. The first one was from Mr Mukesh Ambani last week, telling his employees that the Chairman and Managing Director (who is himself) is the final authority at Reliance…”

What did this mean to the stock market? See the chart below.

http://groups.google.com/group/theindiastreet/web/RELIANCE_W_150705.jpg

The weekly chart of Reliance indicates that on November 5, 2004 the stock closed at 540.35. On June 10, 2005 it closed at 566.55.

Between November 5, 2004 and December 17. 2004, the Nifty gained 160 points whereas Reliance lost 59.80 rupees, indicating the market was not quite certain about the stock. Reliance is known to perform very much in line with both Sensex and Nifty due to its weightage. But during this period it was not so.

Finally, after the accord was reached between the brothers, the stock managed to break its resistance at 650 during the week ending June 24, 2005. Technically, a “three inside up” bullish candlestick pattern was formed during first week of June. There was a huge upward gap when the resistance was broken.

The Tribune reported on June 19, 2005 about the accord as follows:

“India’s biggest industrial conglomerate, Reliance Industries Limited, will finally be split up between Mukesh Ambani and his younger brother, Anil, thereby ending a seven-month war between the two.

Kokilaben Ambani, their mother and widow of Reliance Industries Limited founder Dhirubhai, announced the broad contours of the settlement in a statement released here today.”

All the companies mentioned above are currently trading at lifetime highs. There have been no reversal signals on any of the medium term charts. But it is better two book profits in RIIL and RNRL, since both have appreciated very sharply in the last one week or so.

Reliance Industrial Infrastructure Limited

(Group: B1, Scrip Code: 523445):

http://groups.google.com/group/theindiastreet/web/RIIL_W_250907.jpg

The stock formed a false “head and shoulder” pattern between January 2006 and March 2007. False, because, the neckline support was not broken; Volumes were increasing as right shoulder was formed. Between May and June 2006, stock had fallen from a high of 951.70 to a low of 357.40. A bullish three inside up candlestick pattern was formed during the week ending September 7, 2007. From a close of 498 it has appreciated to 1149 (131%) in just about 11 trading sessions. It is extremely overbought in daily charts as well. So profit booking may be considered in this counter.

Reliance Natural Resources Limited (Group: B1; Scrip Code: 532709):

http://groups.google.com/group/theindiastreet/web/RNRL_W_250907.jpg

This stock made a high of 41.65 in March 2006. It had broken this resistance during the week ending July 20, 2007. However, in the last six trading sessions the stock has already gained 84%. It is quite an unusual movement since no major price rise was observed for almost 2 months after the breakout. Profit booking may be considered in the stock for the medium term.

As mentioned earlier, we need to wait for a confirmation of trend reversal for these stocks. But short term investors may avoid these stocks due to overbought conditions and a reversal is expected anytime.

Sundaramurthy Vadivelu

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Note to Mukesh Ambani – Why rich should share wealth with poor

I came across this Mukesh Ambani press release today and while it offered little in detail it was a push in the right direction. While I am not a believer in a philosophy of giving for giving sake, I do believe that corporations should help the poor by creating meaningful jobs. Mukesh seems to believe in restructuring the rural farmer’s retail arrangement (let’s assume and hope he means cutting out the middlemen) with consumers.

Making a case for his retail outlets, he said: “Indian farmer bears the highest risks. So, by unleashing a genuine pro-farmer and pro-consumer retail, it would help both and put them in a win-win situation.”

I agree, but let’s add taking government out of the equation entirely. Why not let the farmer decide the price based on market demand? Currently, these farmers are lining up in long queues while their product rots. Why do local governments or quasi government officials need to be involved at all? Let the farmer decide how to sell his product and let the entrepreneurs in India decide how to best get it to market.

India’s wealthy corporations and high net worth (HNW) individuals should be pushing for economic reforms from India’s government to better empower the individual by offering meaningful jobs. The lesson of simply giving to the poor has been learned time eternal. By giving to the poor without any strings or just as bad without any working opportunities, you create a welfare situation. The US has (and still is) learning how difficult it can be to get people off welfare. Had the US implemented a 90 day financial safety net along with extensive training programs (instead of giving money without strings) the poor and their offspring would have been much better off.

I loathe the extremely wealthy preaching to the rest of us to help the poor without giving any details. It’s easy for the wealthy to make those statements because they can afford to make them. Most of these pitches to help the poor are simply public relations stunts and do nothing to actually help the poor. The HNW individuals I respect actually train the poor or offer them real jobs and opportunities with real career paths. It appears that Mukesh Ambani is doing just that by offering farmers a way to sell their goods bypassing the middlemen. While he profits in turn, welcome to the world of free enterprise. It’s a win-win situation that can be duplicated by all retailers across India. Reliance is not a monopoly (another free enterprise feature) and others can ride the success if Ambani manages to change the farmer/consumer retail paradigm.

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Reliance Industries Will be First Ever India Company to reach $100-billion Market Cap

By Vipin Agnihotri

Billionaires all around the world watch out for Mukesh Dhirubhai Ambani. He is all set to get the bragging rights as one of the worlds top three or four richest men. It is worth mentioning in this regard that Forbes has put him at a distant 14, with a net worth of $20.1 billion.

I am not saying this because he is an Indian. I have a valid point to say that. According to Wall Street, Reliance Industries could touch $100 billion (Rs 4,10,000 crore) in market cap sometime soon. If that happens, Reliance will be the first company in India to achieve that feat.

At this moment of time, Reliance Industries market cap is around $63 billion, and Ambani owns more than half of the company. Morgan Stanley analysts are of the opinion that Reliance Industries value will jump by 58 per cent?

I totally agree with their estimation because from next year onwards, Reliance Industries will start pumping oil from its proven reserves of 1.4 billion barrels. When one take into consideration the fact that Reliance Industries total proven and possible reserves presently of 5.4 billion barrels, the companys exploration and production (E&P) business will generate $3.5 billion (Rs 14,350 crore) in profits between 2010 and 2015.

But the question now arises: How Reliance Industries will unlock its share value to touch $100 billion? When The India Street contacted Reliance Industries spokesperson in this regard he said that that the company would have to opt for both organic and inorganic growth to achieve the target.

Apart from that, Reliance Industries would need to substantially increase its share of revenues from E&P presently just 2 per cent of its $22-billion turnover. Point to be noted here is that at present, 60 to 70 per cent of Reliance industries turnover of Rs 1,10,000 crore comes from the refining business.

However, some of the experts believe that one-third of the Reliance Industries value is coming from gas and if the government, which has a profit sharing agreement, fixes a lower price, Reliance Industries could suffer.

All in all, if the Sensex rises 30 per cent in the next one year, you could see Reliance Industries hitting the $100-billion mark sooner than expected. In short, Reliance Industries joining the $100-billion market cap club is not a matter of if, but when.

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In Pictures: Ambani Mansion Mumbai Update

The building called Antilia being constructed at Altamount Road is likely to be completed by next year

The Mukesh Ambani Skyscraper Mansion is underway and we have obtained the first pictures of the completed structure. Thanks to the Mumbai Mirror, we have also obtained a description of each of the 27 floors of this unique masterpiece. Some of you are tempted to judge the excessive expense of it all, but in reality it’s a monument to India’s new wealth. Yes the home is extreme, but India also has people living in extreme impoverished conditions and dwellings. Let this house be a symbol of what the average Indian can do within the new India economy.

The plan, drawn up by the firm Perkins+Will out of the USA, reveals that the house will resemble a virtual glass palace, with entertainment centres, a health club, a swimming pool and various green spots thrown in for good measure.

Construction of Mukesh Ambani’s new house at Altamount Road, where real estate prices are now in the region of Rs 75,000 per sq ft, began in late 2006, and the first six floors are already in place now. The building is expected to be complete in September 2008.

27 FLOORS
According to the plan, the house will rise to a height of 173.12 meters, equivalent to that of a regular 60-storeyed residential building. However, Antilia will have only 27 storeys in all, which means each floor will have a ceiling considerably higher than the current average of nearly three meters.

Six floors for parking
The first six floors — which have come up — will be reserved for parking alone, and that too for cars belonging only to Mukesh's family. Space for a total of 168 'imported' cars has been earmarked here.

Floor for car maintenance
Sources said the Ambanis would prefer to have all their cars serviced and maintained at an in-house service centre. This centre will be set up on the seventh floor.

Entertainment floor
The eighth floor will have an entertainment centre comprising a mini-theatre with a seating capacity of 50.

Balconies with gardens
The rooftop of the mini-theatre will serve as a garden, and immediately above that, three more balconies with terrace gardens will be independent floors.

The 'health' floors
While the ninth floor will a 'refuge' floor — meant to be used for rescue in emergencies — two floors above that will be set aside for 'health.' One of these will have facilities for athletics and a swimming pool, while the other will have a health club complete with the latest gym equipment.

For guests
There will be a two-storeyed glass-fronted apartment for the Ambani family's guests above the health floors. One more refuge floor and one floor for mechanical works will be built on top of these apartments.

The four floors at the top, that will provide a view of the Arabian Sea and a superb view of the city's skyline, will be for Mukesh, his wife Neeta, their three children and Mukesh's mother Kokilaben.

Air space floor
According to the plan, two floors above the family's residence will be set aside as maintenance areas, and on top of that will be an "air space floor," which will act as a control room for helicopters landing on the helipad above.

Family
The four floors at the top, that will provide a view of the Arabian Sea and a superb view of the city's skyline, will be for Mukesh, his wife Neeta, their three children and Mukesh's mother Kokilaben.

Helipad
The plan states that three helipads are to be built on the terrace.

However, Brihanmumbai Municipal Corporation officials told this paper that permission for the helipads has not been granted yet.
"The residential plans were approved three-four years ago. Two levels of basement have also been shown in the proposed project," Sudhir Shinde, deputy engineer at the BMC's building proposals department said.

Staff
Nearly 600 staffers are expected to work full-time in the building, sources said.

Total stats
According to BMC records, the total area of Mukesh's Altamount Road plot is 4,532.39 square meters. The proposed built-up area is 4,778.09 square meters (only for residential purposes), and the permissible built-up area 4,939.81 square meters.

Brought to you by The India Street