Mukesh Ambani's $2 bn home world's most expensive: Forbes

The 27-storey skyscraper being built in Mumbai by Mukesh Ambani, the richest person in India, could be the world's largest and costliest home with a price- tag nearing two billion dollar, according to Forbes magazine.

"When the Ambani residence is finished in January, completing a four-year process, it will be 550 feet high with 4,00,000 square feet of interior space," Forbes said in a report on its website.

Earlier in March, Mukesh Ambani was ranked as the fifth richest person in the world with a net worth of 43 billion dollars by the Forbes magazine in its annual list of world's wealthiest billionaires. While Lakshmi Mittal, who is an Indian citizen was ranked higher at fourth, he is a British resident. Among resident Indians, Mukesh was ranked at top.

"The only remotely comparable high-rise property currently on the market is the 70 million dollar triplex penthouse at the Pierre Hotel in New York, designed to resemble a French chateau, and climbing 525 feet in the air," Forbes said in its report titled, "Inside The World's First Billion-Dollar Home."

Mukesh Ambani heads India's most valuable firm Reliance Industries, an oil and petrochemicals giant.

"Like many families with the means to do so, the Ambanis wanted to build a custom home. They consulted with architecture firms Perkins + Will and Hirsch Bedner Associates, the designers behind the Mandarin Oriental, based in Dallas and Los Angeles, respectively," the report said.

"Plans were then drawn up for what will be the world's largest and most expensive home: a 27-story skyscraper in downtown Mumbai with a cost nearing 2 billion dollars."

According to Forbes, Mukesh, along with his wife Nita Ambani and three children, currently live in a 22-story Mumbai tower.

The report further noted that the cost for the Ambani residence, called Antilla whose shape is based on Vaastu, would be more than a hotel or high-rise of similar size because of its custom measurements and fittings.

While a hotel or condominium has a common layout, replicated on every floor, and uses the same materials throughout the building, the Ambanis' home has no two alike in either plans or materials used, it said.

"At the request of Nita Ambani, say the designers, if a metal, wood or crystal is part of the ninth-floor design, it shouldn't be used on the eleventh floor, for example. The idea is to blend styles and architectural elements so spaces give the feel of consistency, but without repetition," it said.

"Atop six stories of parking lots, Antilla's living quarters begin at a lobby with nine elevators, as well as several storage rooms and lounges. Down dual stairways with silver-covered railings is a large ballroom with 80 per cent of its ceiling covered in crystal chandeliers."

The report said that Ambanis plan to use the residence occasionally for corporate entertainment also and they want its interiors to have a "distinctly Indian" look and feel.

"The top floors of entertaining space, where Ambani plans to host business guests (or just relax) offer panoramic views of the Arabian Sea... For more temperate days, the family will enjoy a four-story open garden," it noted.

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48 Indian cos among Forbes 2000 list

After billionaire businessmen, it is the turn of companies from India to shine on Forbes radar with as many as 48 firms making it to a list of the world's biggest companies compiled by the US magazine.

Led by India's most valued firm Reliance Industries and PSU major ONGC, all these 48 Indian firms named in the 'Global 2000 List' have a billion-dollar size -- both in terms of turnover and market value.

The rankings, topped by British banking behemoth HSBC, have been compiled on the basis of a composite score of sales, profit, assets and market capitalisation.

HSBC is followed by industrial conglomerate General Electric, Bank of America, JPMorgan Chase and ExxonMobil -- all four from the US -- in the top five positions.

Two Indian firms, Mukesh Ambani-promoted RIL and ONGC are among the top 200 companies at 193rd and 198th ranks.

Earlier in March, Forbes had released its list of world's richest billionaires that included 53 Indian businessmen, with four of them -- Lakshmi Mittal, Mukesh Ambani, Anil Ambani and KP Singh -- figuring among the world's ten wealthiest.

RIL and ONGC are followed by two PSU majors State Bank of India (219) and Indian Oil (303), the country's biggest private sector lender ICICI Bank (374) and state-run power generation major NTPC (411).

The Indian presence is almost evenly divided among the private and state-run companies. While none of the Indian companies have managed to find a place among top 100, it has two firms run by people of Indian origin.

Vikram Pandit-run banking giant Citigroup and Lakshmi Mittal-headed steel behemoth ArcelorMittal are at 24th and 38th positions respectively. Indra Nooyi-run beverage major PepsiCo has been ranked at 131st position.

Other Indian companies on the list include SAIL (647) and Tata Steel (738), telecom giants Bharti Airtel (826) and Reliance Communications (846), software major TCS (927), housing finance giant HDFC (949), engineering heavyweight Larsen and Toubro (961) and state-run oil firm BPCL (967).

While Mukesh Ambani-led RIL has topped the list of Indian companies, there are also three firms belonging to the group led by his estranged younger brother Anil Ambani -- Reliance Communications, Reliance Power (1,597th) and Reliance Capital (1919th).

According to Forbes, the Global 2000 companies have combined revenue of 30 trillion dollars, 2.4 trillion dollars of profit, 119 trillion dollars in assets and 39 trillion dollars in market capitalisation.

Besides, these companies employ 72 million people across the world. While the list is still dominated by the US companies, the number of American firms has dropped by 61 from previous year and 153 from 2004.

"In contrast, China, India and Brazil are rapidly adding companies to the list. India, for example, has 48 companies this year versus 27 in 2004," report said.

In terms of sectors, banking has the largest presence with 315 firms in the global list. Even among the Indian companies, one-third or 16 of them belong to this sector.

Other Indian companies include BHEL (1012), Infosys (1040), HDFC Bank (1093), Wipro (1102), Tata Motors (1111), HPCL (1112), NMDC (1134), ITC (1159), PNB (1166), DLF (1185), Hindalco (1205), GAIL (1249), Canara Bank (1305), Axis Bank (1361), Bank of India (1375), PGCIL (1413), Bank of Baroda (1477), Nalco (1478) and Unitech (1484).

The list also has Grasim (1527), Indian Overseas Bank (1737), IDBI (1744), PFC (1753), Union Bank of India (1759), Satyam (1763), Central Bank of India (1803), Syndicate Bank (1833), M&M (1919), Uco Bank (1935), Oriental Bank (1952), Suzlon Energy (1954) and Allahabad Bank (1996th).

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