GM Rao

 

•Occupation- Chairman of GMR Group 

•Net worth- 2.6 billion US Dollars  

•Nationality- Indian

•Ethnicity- Andhra rite 

 

However small the organization, the emphasis must continually remain on a transparent and positively driven system. This is the best way one can describe GM Rao’s contribution to business. He is a man who was willing to think ahead of his time and also venture out into the industry at the right moment. He can also be attributed for spearheading the ‘family constitution’ model for business. Apart from that he also been able to combine his entrepreneurial spirit with the organizational culture to sustain and achieve the goals of the organization. 

 

GM Rao Early life- GM Rao was born on the 14th of June, 1950 in Rajam, Srikulam District of Andhra Pradesh. Very little is known about his personal life. He spent most of his childhood at his village. However at young age itself he aspired to achieve a position in life. He earned his bachelor degree in engineering. But instead of working and accepting lucrative job offers that came his way he decided to start in his own business.

 

GM Rao Business career- In 1978 he started single jute mill in his village in Rajam, Srikulam. His family was earlier engaged in the gold business.  This was the beginning of the GMR business empire. From the early part of his career itself he was visionary and was willingly to work on opportunities and face the challenges that upheld him. Within a matter of few years he ventured into three evergreen sectors of infrastructure, power and aviation in the mid eighties. His first major business project included the several power plant projects. At present the company owns 13 power plants of which three are operational with a capacity of 808 MW ten projects are under various stages of implementation both in hydel and thermal power.  He made his foray in the infrastructure sector with a series of highway projects. The company has completed six road projects up to date. It recently won three major projects that include 181 km Hyderabad Vijayawada project in Andhra Pradesh on toll basis, 29 km Chennai Outer ring state and the 99 km Hungund Hospet stretch in Karnataka on toll basis.  The late 90’s saw him venturing into aviation and under his able aegis the company developed the New Greenfield International airport at Hyderabad and was also awarded the tender for constructing the world class terminal 3 (T3) on Delhi international airport. It was inaugurated on the 03rd July, 2010.  The company was also given the commission of the brand new Saiba Gocken International Airport in Istanbul which was completed in eighteen months and a month before scheduled date. The company was also the given the project for the modernization and expansion of the Male Airport. Apart from these three major sectors the company is also have its business interests in sugar, ferroalloys, banking and IT. However an infrastructure continues to remain the forte of the company. 

 

GM Rao Board Membership – 

1.Chairman of GMR Group

2.Executive Chairman of GIL

3.Executive Chairman GMR Infrastructure

4.Director in Central Board of the Reserve Bank of India

5.Board of Director of the National Housing Bank (NHB ), a part of the Reserve Bank of India

6.Member of Audit committee of the board of National Housing Bank (NHB)

 

GM Rao family Life- His family continues to be the forte not only of his personal life but also about his business.  However his family has remained in the background and there are few reference made of his personal life.  GMR his wife, two sons (GBS Raju and Kiran Kumar G), his son in law (Mr. S. Bommidala) and their wives are also engaged in the business. With business families facing various problems GM Rao has focused in developing a framework that keeps the family together and avoid disputes. 

 

GM Rao Assets- GM Rao is a businessman who is known for his street smartness and also his tenacity to make a difference. These two features have helped him achieve considerable amount of success in the business field. In his 34 years in business he has build assets worth $ 5 billion from a mere 11 million 1999. With a personal net worth of 3.5 billion US dollars he is 18thon Forbes list of richest people. 

 

GM Rao Charity- Inspired to build an entrepreneurial organization that is aimed at making a difference in society, GMR established the GMR Varalaxmi Foundation. The Corporate Social Responsibility wing of the GMR Group has promoted many initiatives in field of education, health and public hygiene. Focusing on imparting quality education the Group has established a degree college and three primary schools in Srikakulam.

 

GM Rao Awards- 

The "Entrepreneur of the year" at the Economic Times Awards for Corporate Excellence 2006 – 07.

The "Most Promising Entrant to the Big League" by CNBC TV18 at its "Indian Business Leader Awards 2007".

On 12th March, 2009, he received the Infrastructure Person (Infra Person) of the year award at the Infrastructure Journal Award Ceremony held in London.

The "Sir. M. Visveswaraiah Award - 2008" instituted by the Federation of Karnataka Chamber Of Commerce and Industry (FKCCI).

The "Most Inspiring Entrepreneur of the Year – 2008" award by National Institute of Industrial Engineering (NITIE), Mumbai. The 'First Generation Entrepreneur of the Year' at the CNBC TV18 India Business Leader Awards 2009.

 

GM Rao Latest news-