Indian Real Estate Tycoon:Ramesh Chandra

Published by admin on February 12th, 2008 | Tagged Achievers, Billionaires, Business, Entrepreneurship

Update: According to the Forbes’ 2009 list of the world’s billionaires Ramesh Chandra dropped off the list with an estimated loss of $ 9 Billion.

Real Estate tycoon Ramesh Chandra and Unitech :

Indian billionaire Ramesh Chandra started Unitech around 4 decades ago with just Rs 50000 and today it is the second largest real estate company of India. According to Forbes (2008),Ramesh Chandra is the 8th richest Indian and also, he is the 4th richest self made billionaire of Asia. He has a net worth of around $ 11.6 billion.

Ramesh Chandra studied civil engineering from,IIT Kharagpur.After his graduation he worked for some time in Kolkata and then he left for the UK to pursue his Masters in structural engineering from the University of South Hampton.

Ramesh Chandra came back to India in 1965 and worked as a pool officer at a government research centre in Roorkee.After working for a few years he decided get into business by starting a Consulting firm.

In the seventies he got into construction business and later in the the mid eighties his company focused on more on real estate and they started to buy land in Gurgaon.In the nineties they started to work on middle income residential housing projects.In 1996 Unitech built its first commercial office complex, this was known as Global Business Park. After the year 2000 they became really active in buying more and more land in the NCR region.

Over the years the company expanded its operations and its presence has been felt in other areas like Kolkata,Bangalore, Kochi,Chennai,Mumbai and Hyderabad.

Unitech has plans to enter the telecom business. Unitech will also be getting into the infrastructure development and hospitality sectors.It also seems like they are working on a mass housing project.

Unitech will invest $720 million in 4 years for building 28 hotels and its partners include Marriott International.

Unitech will foray into retail as they are going to invest Rs. 20000 crore for developing 48 malls and shopping centres across India over the next 6 years.