Grandhi Mallikarjuna Rao
Grandhi Mallikarjuna Rao | |
|---|---|
| Born | July 14, 1950 Rajam, Srikakulam district, Andhra Pradesh, India |
| Occupation(s) | Industrialist, Mechanical engineer |
| Known for | Founding chairman of GMR Group |
Grandhi Mallikarjuna Rao (born 14 July 1950) is a billionaire industrialist and mechanical engineer, recognized as the founding chairman of GMR Group, a prominent Indian infrastructure development company with a global footprint. Since its inception in 1978, GMR has expanded its operations to seven countries, specializing in sectors such as energy, highways, urban development, and airports, and is acclaimed for constructing and managing premier national infrastructure assets.
Early life
Rao was born in Rajam, located in Srikakulam district, Andhra Pradesh, into an upper-middle-class household involved in commodities trading and running a modest jewelry enterprise. After completing his education at Andhra University, he initially worked as a shift engineer at a paper manufacturing facility and subsequently served as a junior engineer with the Andhra Pradesh Public Works Department.
Acting on his mother’s counsel, Rao ventured into commodities trading, where he cultivated robust relationships with suppliers and clients. He acquired a distressed jute mill at a favorable price, which turned profitable and enabled him to secure local bank loans to purchase additional businesses. Subsequently, he divested from various industrial holdings and co-established Vysya Bank in partnership with ING.
After selling his shares in ING Vysya Bank for ₹340 crore, Rao reinvested the capital into the power industry, laying the foundation for GMR Group’s rise as India’s foremost infrastructure asset developer. GMR outperforms its chief rival, GVK, by a factor of six in market capitalization and leads the Indian airport development sector in revenue, asset base, and market valuation.
In 2014, Rao was appointed chairman of the Andhra Pradesh Skill Development Corporation, entrusted with managing a ₹700 crore government program designed to train twenty million individuals over a decade.
Awards
In 2007, GM Rao was honored with the Economic Times Entrepreneur of the Year Award.
Charity
The philanthropic division of GMR Group, known as GMR Varalakshmi Foundation (GMRVF), operates across 22 sites focusing on enhancing social infrastructure and elevating living standards within communities adjacent to the Group’s projects. Inspired by Warren Buffett’s ethos of philanthropy, GM Rao committed ₹1,540 crore to charitable endeavors in 2012. GMRVF functions as a non-profit entity (Section 25), governed by the Group Chairman and maintained by an autonomous team.