That's a fortune by the standards of his Indian homeland, but much lower than the millions he had been reported to have offered 33-year-old Valentina.
Despite his cut-glass accent and private education, his fortune is tied up in the family textile business, which he will only inherit on the death of his mother Gunar.
Gunar herself insists her son is not rolling in money. When news of his relationship with Liz first emerged, she said: "All this super-rich stuff has been completely overdone. He is not a textiles tycoon. I set up a textiles company 30 years ago when I first came to India. Arun and his father have both worked for it in the past, but now Arun has his own software company. All this playboy stuff has been rather overdone. He is definitely not a mogul - he is just setting up a business."
According to a family friend added: "While Gunar is alive, Arun doesn't have a penny of the family money. The money is all tied up in the family business and his mother completely holds the purse strings."
Arun seems to have the trappings of a lavish lifestyle. He makes use of family homes in France, Germany and London and enjoys one of several luxury flats owned by the Nayars in Mumbai's exclusive St James Court.
Still, there'll be no stinting when Arun and multi-millionairess Liz, 38, tie the knot - scheduled for next February. The divorce paperwork ending his seven-year marriage is now expected to be rushed through the Indian and Italian courts.
