'Yashoda & Krishna' Painting Breaks MF Husain's Record, Auctioned For Rs 167.2 Crore To Billionaire Cyrus Poonawalla

Mumbai: A Rs 167.2 crore auction on Wednesday broke the record held by famous painter MF Husain. The breakthrough was achieved by renowned Indian artist Raja Ravi Varma's iconic oil painting Yashoda and Krishna, which was sold at the Saffronart Spring Live Auction in Mumbai to become the most expensive Indian artwork sold at an auction.

Who's The Billionaire Buyer?

The famous painting has been acquired by Indian billionaire Cyrus Poonawalla, who is the Founder and Managing Director (MD) of biopharmaceuticals company Serum Institute of India (SII). During the COVID-19 pandemic, SII partnered with the British-Swedish multinational pharmaceutical company AstraZeneca to develop Covishield vaccine.

After claiming the highest bid for Varma's painting, the billionaire said, "I am privileged to have the opportunity to acquire, preserve, and care for the iconic Raja Ravi Varma painting Yashoda and Krishna. This national treasure deserves to be made available for public viewing periodically, and it will be my endeavour to facilitate this going forward."

About Yashoda and Krishna

Painted in 1890s, Yashoda and Krishna represents the sacred bond of mother and child. Raja Ravi Varma, in this artwork, resonates the theme of of maternal love through the representation of an infant Lord Krishna and his mother foster Yashoda, who raised him since he was a newborn baby.

According to collector Ganesh V Shivaswamy, the painting captures the scene from Shrimad Bhagavatam when Yashoda was milking a cow and Krishna approached her for milk.

The subject of Yashoda and Krishna is often compared to Madonna and Child, which represents Virgin Mary and infant Jesus.

MF Husain's Gram Yatra

Maqbool Fida Husain’s 1954 painting Untitled (Gram Yatra) spans over nearly 14 feet and portrays the rural Indian life. In 2025, it was auctioned for $13.8 million (around Rs 119 crore) at Christie’s New York.

According to British auction company Christie's, the “monumental" painting is an “epic survey of Indian society and global modern art".

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