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Shravan Gupta | |
|---|---|
 | |
| Nationality | Indian |
| Alma mater | Shri Ram College of Commerce |
| Occupation | MD & Chairman of MGF Group |
| Spouse | Shilpa Gupta [1] |
| Children | 2 |
Shravan Gupta (born 1973) is an Indian businessman, serving as the chairman of MGF Group. [2] [3] He was previously a director at Emaar MGF Land. [4] [5] [6] [7]
Gupta has done his bachelor's degree in commerce from Shri Ram College of Commerce, University of Delhi. [8] He is married to Shilpa Gupta [1] and has two daughters with her. [8]
After doing his B.Com from a college in Delhi, Shravan joined his family business, [8] namely Motor & General Finance Ltd. (MGF), a vehicle-finance/lending company which had been founded in 1930. He served as a Non-executive director of Motor & General Finance until 30 March 2007. In 1997, MGF diversified into real estate, when Shravan founded MGF Developments. The company created over 5 million square feet of mainly retail space (but also some commercial and residential space), building five shopping malls, including three in Gurgaon which are clustered together within a range of one Km (The Metropolitan, The Metropolis and The Megacity Mall), and one each in Delhi (City Square Mall) and Jaipur (MGF Metropolitan Mall). [9]
In 2006, Shravan's MGF Developments entered into a joint venture with Emaar Properties PJSC Dubai to invest in the Indian realty space. [10] [9] The joint venture company, Emaar MGF, has invested about Rs.8,500 crore in the Indian real estate market, of which about Rs. 7000 crore (INR 70 billion/USD 1 billion) was brought in by Emaar, which represents the largest Foreign direct investment in India in the real estate sector. [11] Emaar and MGF announced that they were parting ways and that the joint venture would be divided vertically. [12] Two months later, Shravan resigned from his position as Executive Vice-Chairman & Managing Director of Emaar MGF. [10] [13]
The NCLT later allowed the withdrawal of insolvency proceedings against Shravan Gupta's real estate firm, after the company reached to a settlement with the homebuyers who had dragged the company to NCLT. [14]