Friday, October 28, 2011

Divi Murali and L Madhusudhana Rao in the Forbes India's Richest list

Divi Murali: #53 with $1.05 billion
Pharmacist and youngest of 13 siblings, owns 52% of Divi's Laboratories, pharma firm he founded in 1990 after stint partnering with Dr. Reddy's Laboratories. Company makes off-patent generics and does custom manufacturing of patented drugs for big pharma companies. Gets over 90% of its $266 million revenues from international markets. Investing $90 million to expand its manufacturing capacity; its new 350-acre special economic zone in eastern India opened in June.


Lagadapati Madhusudhana Rao: #91 with $495 million
Fortune down 78% as shares of his power producer Lanco Infratech plummeted amid sector slowdown. Inked $716 million deal to buy Australia's Griffin Coal but got slapped with $3.5 billion lawsuit by fertilizer maker Perdeman Chemicals alleging breach of a coal-supply agreement. Tripling power capacity to 9,300 megawatts by 2014 and bidding for power projects in Bangladesh, Indonesia. Brother L. Rajagopal has been member of parliament since 2004.
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