Ramesh Chandra: Real estate baron
The boom in India's realty sector has turned around the fortunes of real estate developers. Meet India's real estate baron, Ramesh Chandra, 68. The low-profile Chandra is the founder of Unitech and is today the eighth richest man in India with a net worth of $11.6 billion.
He started a consultancy firm in 1972 after returning from the United Kingdom with a degree in structural engineering. He, and three of his friends, started as consultants in soil mechanics and foundation engineering. Later, he started taking up civil engineering contracts. This was followed by his venture into real estate. With the boom in the realty sector, Unitech rose to become India's second largest real estate developer, with a market cap of $6.7 billion.
Today, the group develops plush residential, commercial, leisure and retail properties, and hotels. Power transmission lines, highways, theme parks, steel plants, indoor stadiums... Unitech has enjoyed an interesting and diverse entrepreneurial journey.
Under Chandra's leadership, Unitech plans to set up a non-banking finance company to sell home loans. The company is also in talks with international insurance firms to offer general insurance in India. Unitech has also applied for a licence to offer mobile services.
The boom in India's realty sector has turned around the fortunes of real estate developers. Meet India's real estate baron, Ramesh Chandra, 68. The low-profile Chandra is the founder of Unitech and is today the eighth richest man in India with a net worth of $11.6 billion.
He started a consultancy firm in 1972 after returning from the United Kingdom with a degree in structural engineering. He, and three of his friends, started as consultants in soil mechanics and foundation engineering. Later, he started taking up civil engineering contracts. This was followed by his venture into real estate. With the boom in the realty sector, Unitech rose to become India's second largest real estate developer, with a market cap of $6.7 billion.
Today, the group develops plush residential, commercial, leisure and retail properties, and hotels. Power transmission lines, highways, theme parks, steel plants, indoor stadiums... Unitech has enjoyed an interesting and diverse entrepreneurial journey.
Under Chandra's leadership, Unitech plans to set up a non-banking finance company to sell home loans. The company is also in talks with international insurance firms to offer general insurance in India. Unitech has also applied for a licence to offer mobile services.
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