Saturday, October 2, 2010

3 Kamma billionaires in the Forbes India Rich list

According to the Forbes India Rich List, there are 69 billionaires this year, compared to 52 last year.

Rank - 29; Lagadapati Madhusudhan Rao ($2.3 Billion)
Chairs infrastructure group Lanco. Net profits at flagship Lanco Infratech surged 68% to $42 million in latest quarter, as it increased power generation capacity four-fold to 2000 megawatts. Has secured $1.5 billion funding for a new 1,320 megawatts power plant in eastern India. Established Singapore arm in Singapore with view to developing power projects in emerging markets. Is partnering Indonesian miner Bukit Asam to bid for a power project in that country. Plans to get into solar energy in a big way in Europe and the US. Older brother L. Rajagopal is a member of parliament.
Rank - 59; B G Raghupathy ($1.13 billion)
One-time marketing executive, now maker of equipment for thermal power plants. His BGR Energy Systems has completed over 150 contracts in 45 countries including Germany, Australia, Iraq, Oman and Malaysia. It has orders in hand of $2 billion, including one for supplying gas processing equipment for gas fields in Iraq. Recently signed two separate joint ventures with Japan's Hitachi and Germany's Hitachi Power Europe to build steam turbines and generators for thermal power plants. Revenues and profits at BGR have more than doubled in past two years. Wife Sasikala sits on board.

Rank - 60; Murali Divi ($1.12 billion)
His 20 year-old generics firm Divis Laboratories does custom manufacturing for big pharma companies and derives over 90% of revenues from exports. Hit by global slowdown but recovering. Sales up in latest quarter after 20% fall last fiscal. It is investing $42 million in a special economic zone. Youngest of 12 siblings, was one-time partner of pharma tycoon K. Anji Reddy (No. 64) before striking out on his own in 1990. Shunned patent-busting to making generic versions of off-patent drugs. Son Kiran looks after business development.
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