Jupally Rameswar Rao (born 16 September 1955) is an Indian businessman. He is the founder-chairman of My Home Group, a Hyderabad-based company with a presence in realty estate, cement, and power sectors.[1][2][3] One of the brands of his company, Maha Cement has a reported annual revenue of ₹3,000 crore.[1] As per Forbes magazine, Rameswar Rao has a net worth of US$2.5 billion, as of march 2024.[4]
Jupally Rameswar Rao | |
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| Born | 16 September 1955 Kudikilla, Mahbubnagar, Telangana |
| Nationality | Indian |
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| Spouse | Sri Kumari |
| Children | 4 |
Early life edit
Rameswar Rao was not born into generational wealth , and had to struggle during his childhood often walking miles to attend his school, he wanted to become a homeopathy physician and studied for the same in Hyderabad, through connections he made during his student days of being a student leader he opened his practice in Dilsukhnagar. On the advice of a friend he once invested ₹50000 to develop a plot of land and sold it three years later for ₹150000, realising the potential of undeveloped land he quit his homeopathy practice and ventured into real estate, eventually founding the My Home Group, which is today one of the largest real estate companies in India
Business career edit
In 1981, he established My Home Constructions Private Limited, which has an annual revenue of ₹650 crore as of November 2016.
Rameswar Rao ventured into the cement business and started Maha Cement (My Home Industries Private Limited), which he later encashed by selling 50% to CRH plc, an Irish company for ₹1429 crore in 2008.[5][6] He bought the 3.2 million tonne cement plant Sree Jayajyothi Cements from Shriram Epc for ₹1,400 crore in 2013. Now the company has a 10-million tonne cement capacity, making Maha Cement one of the largest cement producers in South India.
As of April 2022, he has a net worth of US$1 billion according to Forbes.[4]
He made significant contributions to build the Statue of Equality in Shamshabad Hyderabad India, including donating land on which it was built.He is also the majority owner of the TV9 news network and part owner of the NTV news network owning about 12 percent of the channel
Recognition edit
In May 2017, he was awarded with Lifetime Achievement Award by M. Venkaiah Naidu, the Union Minister of Urban Development, Housing and Urban Poverty Alleviation at HMTV Business Excellence Awards - 2017.[7]
Rameswar Rao's company M/s My Home Constructions Pvt. Ltd received the esteemed safety awards at the Global Safety Summit International Awards & Conference in London. He was honored for his exceptional contributions to health and safety, adding to his recent Lifetime Achievement Award.[8] [9]
Developed and Upcoming Projects (Residential)
.My Home Vihanga
.My Home Mangala
.My Home Krishe
.My Home Sayuk
.My Home Tarkshya
.My Home Vippina
.My Home Avali
.My Home Grava
.My Home 99
.My Home Tridasa
.My Home Nishada
.My Home Apas
.My Home Raka
And many more commercial and residential projects in both the twin Telugu states, including plans for a smart city.
References edit
- ^ a b Sengupta, Sudipta (5 March 2015). "From homeopathy to building homes". The Times of India.
- ^ "Furore at GAME park event". The Hindu. 9 January 2014.
- ^ "No irregularities in MyHome Constructions: CM K Chandrasekhar Rao". Deccan Chronicle. 21 November 2014.
- ^ a b "Jupally Rameshwar Rao". Forbes. Retrieved 4 November 2022.
- ^ "Cement firm My Home to consolidate all existing products under 'MAHA Cement' brand". The Economic Times. 25 November 2016.
- ^ "Where The Rich Are Investing 2016". Outlook Business. 11 November 2016.
- ^ "Biz boost to build wealth". The Hans India. 7 May 2017.
- ^ "My Home Group Chairman Dr Jupally Rameswar Rao conferred with prestigious GSS Global Safety Awards 2023". www.news9live.com. 22 July 2023.
- ^ "10th Global Safety Summit concluded on 23 Dec 2022; nominations open for International Safety award 2023, London". www.forbesindia.com. 29 December 2022.
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