The Art of Building a Sports Car Portfolio
Fortune India|May 2021
Angel Broking founder Dinesh Thakkar explains why track record matters when buying exotics.
PAVAN LALL

Angel Broking founder Dinesh Thakkar with his prized Ferrari and other exotic super cars.

THERE IS NO SHORTAGE of the arguments against buying exotic sports cars in India. Impracticality is one. An absence of infrastructure to enjoy machines that are built for speed is the obvious second. The third is having to double up on price because of exorbitant duty structures. But Dinesh Thakkar, chairman, managing director, and founder of stock brokerage and wealth management firm Angel Broking, dismisses all those arguments as he shifts gears in the red 488 Ferrari Pista that we are driving in on an early Sunday morning on Marine Drive in Mumbai.

“Why one works and runs a business is a means to an end. So, if people say a car is a depreciating asset, I say passions are always about spending; life is ultimately about fulfilment and having fun,” he says.

Business has been good for Thakkar who says Angel Broking, which now has 3 million clients, saw growth double in 2019; which, of course, makes passions easier to pursue for him. Still, Thakkar takes no chances with the dozen or so fast cars that he owns and drives. “I always go for the full insurance package, and all my performance cars are covered bumper to bumper for anything that could go wrong. A flat tyre because of a pothole or a dent from a passing motorcycle— all of that is covered.” That’s wise given that a small paint job for an exotic car can cost a couple of lakhs and a set of four tyres the same price as a hatchback car.

In Italian, Pista means “track” and in layman’s terms that means this is a production car designed and geared to be perfectly at home on a professional Formula 1 track with timings to boot. It’s also the reason my feet hit a steel plate when I stretch them out, the cockpit feels like the interiors of a fighter jet, the rear mid-mounted engine generates 700 BHP and the car jettisons to 100 km/hr in barely two seconds. Even on bad roads, the Ferrari is super fast, its twin-turbo V8 producing power so inexhaustible it seems ungodly.

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