From rundown units to luxury estates: The Bathla family wealth trail

Bhart Bhushan, the founder of Bathla Group, resides in a rundown unit located in Greystanes, contrary to his extravagant properties and vast estate holdings. This modest apartment, five minutes away from the company's headquarters, is not owned by Mr Bhushan but by his associate Neetu Dawar. The property, which currently stands vacant, has seen no maintenance, with crumbling tiles and no signs of life.

Bhushan's brother, Rajinder Mohan, also uses a unit in the same block as his registered address with the Australian Securities and Investments Commission (ASIC). The actual residential addresses of the brothers remain undisclosed in public records. The Greystanes unit block is not the only property associated with the Bathla family that is not under Bhart Bhushan's name.

The Dural mansion, known as Sierra Morena, belonging to Mr Bhushan's nephews Raj and Jai Mohan, is a prime example. This property, valued at $5.5 million with extensive renovations, was purchased in 2020. Work on this property has reportedly been halted for six months.

Another luxury property under development linked to the Bathla family is a residential site at Mt Vernon, 45 minutes from Dural. Plans for a palatial residence include a pool, sauna, steam room, cinema, gym, tennis court, and an eight-car garage. However, construction has not yet commenced, with caveats lodged over the property.

Eight months before Bathla entered administration, ownership of its Girraween headquarters was transferred to a trust, and the site was acquired by Corval Property Fund. Despite the ambitious plans for various properties, Bathla Group found itself in financial turmoil due to a perfect storm of softening sales, tax changes, and higher construction costs.