Dilip Surana has purchased 12,043 square feet of land that includes a bungalow built on 8373 square feet of the area, as per the sales deed.
Dilip Surana, the Chairman and Managing Director of Micro Labs, has purchased a lavish property in Bengaluru for Rs 66 crore, which includes both land and a built-up area. This is one of the costliest real estate transactions in Bengaluru.
Dilip Surana, the chairman and MD of Micro Labs, has purchased a luxury property in Bengaluru from GG Rajendra Kumar, Sadhna, and Manu Gautam for Rs 66 crore. The property includes a land area of 12,043 square feet, with a bungalow built on 8373 square feet of the land. The sales deed shows that Surana paid a stamp duty of Rs 3.36 crore for the deal.
Who is Dilip Surana?
He is the chairman of Micro Labs and is responsible for leading the company. The annual revenue of Micro Labs, a pharmaceutical company, exceeds Rs 4000 crore. The company specializes in manufacturing generic drugs for cardiac diseases, diabetes, and pain relief. The domestic market contributes 60 percent of its revenue.
Two decades ago, the Surana family resided in rented homes in Bengaluru as they preferred to live frugally, in accordance with the beliefs of Dilip Surana’s father, GC Surana. GC Surana believed in reinvesting every earned penny back into the company and was solely focused on growing business, with no interest in luxuries such as cars and houses.
Dilip and Anand Surana currently lead the company their father founded. With operations in 50 countries and 17 factories, the company has grown significantly. The Suranas gained attention for their product Dolo-650, which became popular during the COVID-19 pandemic. In 2020, they earned an impressive Rs 400 crore from sales of this product alone.
Before the pandemic, they used to sell 7.5 crore strips of Dolo. However, during the pandemic, this number doubled. Between March 2019 and March 2021, the company’s profits increased by 244%.
GC Khurana, the founder of Micro Labs, started his journey as an accountant who migrated from Rajasthan to Bengaluru in search of employment opportunities. He initially worked as a distributor for a company based in Delhi before starting his own venture, Micro Labs, in 1973 with just five products. Khurana was dedicated to maintaining high-quality standards in his products and aimed to compete with multinational companies in terms of quality.
Dilip Surana joined the company in 1983 and played a significant role in expanding its reach across India. Anand Surana also joined the company later. While the company offers drugs in several categories such as cardiology, diabetology, ophthalmology, dermatology, and psychiatry, their most popular product is still Dolo.
In 1993, Micro Labs launched Dolo with a unique feature – it contained paracetamol with a strength of 650 milligrams. The aim was to prevent the risk of an overdose of paracetamol.
The sales of Dolo 650 doubled during the Covid-19 pandemic, as it became a household name. The Surana family’s net worth is now Rs 26,600 crore. Micro Labs is one of the few companies that produce paracetamol in the 650 mg category, which contributed to the increase in sales.