London has always attracted Indian billionaires. Many famous billionaires of the country have bungalows or flats in London. The latest name of billionaire Ravi Ruia has been added to this. Ravi Ruia has bought a London bungalow for around ₹1190 crore ($145 million). According to media reports, Ruia’s family office has bought the Hanover Lodge mansion at 150 Park Road this month.

“The property is under construction and has become available at a price that makes it an attractive investment,” William Rego, a spokesman for the Ruia family, was quoted as saying by Bloomberg. According to the report, it was owned by Andrey Goncharenko till two years back. Andrey Goncharenko is a property investor from Russia. He leased the property in 2012 from Rajkumar Bagri of the Conservative Party for £120 million (₹1,264 crore).

Who is Ravi Ruia: He is the co-founder of Essar Group. Ravi started his career in the family business and along with his elder brother, Shashi Ruia, took the company to new heights. Shashi and Ravi jointly founded Essar Global Fund Limited (EGFL) as a diversified global private fund. It is managed exclusively by its investment manager, Essar Capital Limited.

EGFL invests long term capital in portfolio companies and holds approximately 100% of all its investments. The portfolio companies have total revenues of approximately US$13 billion and employ over 7,000 people.