Grandhi Mallikarjuna Rao

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Grandhi Mallikarjuna Rao
The Vice President, Shri M. Venkaiah Naidu releasing the Economic Impact Report of Delhi Airport, on completion of 12 years of operations of GMR Group at Delhi Airport, in New Delhi (cropped).JPG
Born (1950-07-14) 14 July 1950 (age 75)
Rajam, Andhra Pradesh, India
OccupationsFounder & Chairman of GMR Group
SpouseGrandhi Varalakshmi
Website www.gmrgroup.in/group-holdings-detail/

Grandhi Mallikarjuna Rao (born 14 July 1950) is an Indian mechanical engineer, philanthropist, and industrialist. He is the founder chairman of GMR Group, [1] a global infrastructure developer and operator based in India. [2] [3] The GMR Group, started in 1978, is active in the energy, highways, urban development, and airport sectors, and is known for building and operating world-class national assets, including major airports like Delhi's Indira Gandhi International Airport and Hyderabad's Rajiv Gandhi International Airport. He also co-owns the IPL team Delhi Capitals. [4] Rao is one of the richest people in India and in the world, having been listed by Forbes. [5] His GMR Group is considered the leading airport developer in India by revenue, asset size, and market capitalisation.

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Early life and education

Grandhi Mallikarjuna Rao was born on 14 July 1950, in a Telugu family in Rajam, Srikakulam district, Andhra Pradesh, India. [6] He was born in an upper-middle-class family whose main business interests involved commodities trading and a small-scale jewelry business started by his father in Rajam. After graduating from Andhra University, Rao joined a paper mill as a shift engineer and then joined the Public Works Department of the Andhra Pradesh Government as a junior engineer. [7]

Career

Rao soon entered the trading of commodities at the insistence of his mother. After developing strong relationships with suppliers and customers, he successfully acquired a failing jute mill at a bargain price. This venture proved lucrative and allowed Rao to leverage capital from local banks to acquire other assets. He eventually divested his stake in a multitude of industries and, in 1987, started the private sector bank, Vysya Bank, in collaboration with ING. [8]

Rao later diluted his stake in ING Vysya, selling his entire share for ₹340 crore. The capital generated from the bank stake sale enabled his entry into the power and infrastructure sectors, laying the foundation for the GMR Group

GMR Group and Infrastructure Leadership

The GMR Group is a diversified infrastructure conglomerate with operations in 7 countries. The company's focus on building and operating large-scale, world-class national assets, particularly airports, cemented its leadership position. The GMR Group is significantly larger than its nearest competitor, GVK, by market capitalisation, establishing it as India's foremost airport developer by revenue and asset size.

In 2014, Rao was appointed as the chairman of the Andhra Pradesh Skill Development Corporation, with government plans to invest ₹700 crore to train approximately two crore people over 10 years. [9] [ needs update ]

Awards

GM Rao received the Economic Times Entrepreneur of the year Award in 2007. [10]

Philanthropy

Rao is known for his commitment to charitable causes, stating that Warren Buffett was an inspiration for his pledge to 'give back to society'. In 2012, he donated ₹1,540 crores for charitable purposes. [11] [12]

The GMR Varalakshmi Foundation (GMRVF) serves as the Corporate Social Responsibility arm of the GMR Group. GMRVF is a non-profit (Section 25) company governed by Rao, which focuses on developing social infrastructure and enhancing the quality of life in underserved communities across the 22 locations where the Group maintains a presence.. [13]

References

  1. ↑ Srikar Muthyala (29 September 2015). "The List of Great Entrepreneurs of India in 2015". MyBTechLife. Archived from the original on 14 January 2016.
  2. ↑ "GMR holding board". GMR Group. Archived from the original on 15 September 2008. Retrieved 24 April 2008.
  3. ↑ Bhupathi Reddy1 (30 August 2015). "Top 10 Entrepreneurs of India". EntrepreneurSolutions.com. Archived from the original on 26 January 2016.{{cite web}}: CS1 maint: numeric names: authors list (link)
  4. ↑ "RBI". GMR Group . Retrieved 28 November 2011.
  5. ↑ "#349 Grandhi Rao - Forbes.com". www.forbes.com. Archived from the original on 11 March 2007. Retrieved 9 December 2025.
  6. ↑ "7 from Andhra Pradesh make it to Forbes list". The New Indian Express. 15 May 2012. Retrieved 12 July 2024.
  7. ↑ "Interview with GM Rao of the GMR Group". Moneylife NEWS & VIEWS. Retrieved 24 June 2021.
  8. ↑ Kumar, V Rishi. "The GM Rao way to building a business for eternity". The Hindu Businessline.
  9. ↑ "GMR Group head GM Rao appointed Chairman of Andhra Pradesh Skill Development Corporation". Economic Times. 17 December 2014. Retrieved 17 January 2023.
  10. ↑ "Entrepreneur of the Year: Grandhi Mallikarjun Rao". Economic Times. 4 October 2007. Retrieved 15 December 2014.
  11. ↑ "GMR donates Rs 1,540cr to charity. Deccan Chronicle". Deccan Chronicle . Archived from the original on 25 March 2011.
  12. ↑ "GMR Group pledges Rs 1,540 cr for charity". businesstoday.intoday.in. 23 March 2011.
  13. ↑ "GMR Varalakshmi Foundation is the Corporate Social Responsibility wing of the GMR Group". Gmrgroup. Retrieved 17 January 2023.
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