Indian Billionaire GM Rao of GMR Group

Published by admin on June 16th, 2009 | Tagged Achievers, Billionaires, Business, Entrepreneurship

Indian Entrepreneur and self made billionaire GM Rao is the Chairman of The GMR Group, India’s leading infrastructure company. According to the Forbes 2009 list of the richest people in the world GM Rao has a net worth of $ 2.1 Billion. GM Rao’s business interests include the following: Airports, Highways, Urban Infrastructure and Power.

GM Rao was born on July 14, year 1950 in Rajam, Andhra Pradesh, India. He completed his Mechanical Engineering from Andhra University. GM Rao started working for the Public Works Department of Andhra Pradesh. After some time he quit his job to pursue a career in business. He joined his family, they were into Jute trading business. GM Rao started a jute mill before entering into the ferroalloys business. Shortly after that GM Rao began investing in Vysya Bank and eventually became its largest share holder. Over the next few yeas he ventured into sugar, Brewing, Information Technology and Infrastructure.

The GMR Group got all the attention when it won bids for building a new airport in Hyderabad and modernizing the Delhi International Airport. GMR Group established a strong presence outside India as well, in places including UK, Netherlands, Australia and Turkey. The group won the bid for modernizing Istanbul’s Sabiha Gokcen International Airport. The Group acquired 50 % stake in InterGen, a leading power generation company based in Netherlands.GMR Group owns the Delhi Daredevils Team of the Indian Premire League (IPL) for which it paid $ 84 Million.The Group has exited banking, Information Technology and Brewing businesses to concentrate on Infrastructure.