UpdateBot at 05:18, 29 June 2022

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{{Use dmy dates|date=June 2019}}
{{Use Indian English|date=June 2019}}
{{Infobox person
| image =
| name = Grandhi Mallikarjuna Rao
| caption =
| birth_date = {{birth date and age|df=yes|1950|07|14}}
| birth_place = [[Rajam]], [[Andhra Pradesh]], India
| death_date =
| death_place =
| nationality = Indian
| occupation = Chairman of [[GMR Group]]
| spouse =
| networth = {{profit}} $2.6 billion USD (2019)
| website = [http://www.gmrgroup.co.in/corporate/gmrao.html G.M. Rao]
}}

'''Grandhi Mallikarjuna Rao''' is a mechanical engineer, billionaire industrialist, the founder chairman of [[GMR Group]],<ref>{{cite web|url=http://mybtechlife.com/the-list-of-great-entrepreneurs-in-india-2015/ |title=The List of Great Entrepreneurs of India in 2015 |publisher=MyBTechLife |author=Srikar Muthyala |date=29 September 2015 |url-status=dead |archiveurl=https://web.archive.org/web/20160114000446/http://mybtechlife.com/the-list-of-great-entrepreneurs-in-india-2015/ |archivedate=14 January 2016 }}</ref> a global infrastructure developer and operator based in India.<ref>{{cite web | title= GMR holding board| url=http://www.gmrgroup.co.in/corporate/gmrao.html| publisher=[[GMR Group]]| date=| accessdate=2008-04-24}}</ref><ref>{{cite web|url=https://www.entrepreneurssolutions.com/top-10-entrepreneurs-in-india-1-penchal-reddy-born13th-march-1990residencesingapore-nationalityindianyears-active-years-active-2012-to-presentqualificati/ |title=Top 10 Entrepreneurs of India |date=30 August 2015 |author=Bhupathi Reddy1 |publisher=EntrepreneurSolutions.com |url-status=dead |archiveurl=https://web.archive.org/web/20160126161619/https://www.entrepreneurssolutions.com/top-10-entrepreneurs-in-india-1-penchal-reddy-born13th-march-1990residencesingapore-nationalityindianyears-active-years-active-2012-to-presentqualificati/ |archivedate=26 January 2016 }}</ref> Started in 1978, GMR Group is now present in 7 countries, active in energy, highways, large urban development and airports sectors, known for building and operating world class national assets.<ref>{{cite web | title= RBI| url=http://www.rbi.org.in/commonman/English/scripts/organisation.aspx| publisher=[[GMR Group]]| accessdate=2011-11-28}}</ref>

==Early life==
G M Rao was born on 14 July 1950, in [[Rajam]], [[Srikakulam district]] in [[Andhra pradesh|Andhra Pradesh]], [[India]]. He was born in an upper-middle-class family whose main business interests involved commodities trading and a small scale jewelry business started by his father in [[Rajam]]. After graduating from [[Andhra University]], Rao joined a paper mill as a shift engineer and then joined the [[Public Works Department]] of Andhra Pradesh Government as a junior engineer.<ref>{{Cite web|title=Interview with GM Rao of the GMR Group|url=https://www.moneylife.in/article/once-we-decide-to-get-into-something-we-get-into-it-with-the-assumption-that-we-dont-know-anything-grandhi-mallikarjuna-rao/4979.html|access-date=2021-06-24|website=Moneylife NEWS & VIEWS|language=en}}</ref>

He soon entered the trading of commodities, as his mother had insisted. After developing good relations with suppliers and customers in the business of commodities trading, he acquired a failing jute mill at a bargain, this venture proved to be lucrative and allowed GM Rao to use this leverage from local banks to acquire other assets. Eventually GM Rao divested his stake in a multitude of industries and started a bank named Vysya Bank in collaboration with [[ING]].<ref>{{Cite news|last=Kumar|first=V Rishi|title=The GM Rao way to building a business for eternity|work=The Hindu Businessline|url=https://www.thehindubusinessline.com/companies/the-gm-rao-way-to-building-a-business-for-eternity/article8194430.ece}}</ref>

Rao eventually diluted his stake in ING Vysya by selling his stake in whole for 340 crores. The cash from the bank stake sale allowed his entry into the power business allowed Rao to build what would become India leading infrastructure asset developer, as GMR's most relevant competitor, [[GVK (conglomerate)|GVK]], is 6 times smaller by market capitalization, making [[GMR Group]] the leader in India as an airport developer by revenues, asset size, and market capitalization.

==Awards==
GM Rao received the Economic Times Entrepreneur of the year Award in 2007,.<ref>{{cite news|title=Entrepreneur of the Year: Grandhi Mallikarjun Rao|url=http://economictimes.indiatimes.com/magazines/entrepreneur-of-the-year-grandhi-mallikarjun-rao/articleshow/2429985.cms|accessdate=15 December 2014|publisher=Economic Times|date=2007-10-04}}</ref>

== Charity ==
Its [[Corporate social responsibility|CSR]] arm, ''GMR Varalakshmi Foundation'', currently serves the underserved sections of society in 22 locations. In 2012, he donated {{INR}}1,540 crores for charitable purposes. He mentioned in an interview that Warren Buffett is an inspiration for him to pledge his money in support of 'Giving back to society'.<ref>{{cite web |url=http://www.deccanchronicle.com/channels/cities/hyderabad/gmr-donates-rs-1540cr-charity-998 |title=GMR donates Rs 1,540cr to charity {{!}} Deccan Chronicle |website=www.deccanchronicle.com |url-status=dead |archive-url=https://web.archive.org/web/20110325090127/http://www.deccanchronicle.com/channels/cities/hyderabad/gmr-donates-rs-1540cr-charity-998 |archive-date=2011-03-25}}</ref><ref>{{cite web |title=GMR Group pledges Rs 1,540 cr for charity |url=http://businesstoday.intoday.in/story/gmr-group-chairman-g.-m.-rao-pledges-rs-1540-cr-for-charity-for-gmr-varalakshmi-foundation/1/14117.html |website=businesstoday.intoday.in |date=23 March 2011 |language=en}}</ref>

In 2013, by donating {{INR}}740 crores, G. M. Rao was the third generous donor of corporate India for the year as per the China's Harun Report Inc.<ref>http://archives.eenadu.net/11-14-2013/news/newsitem.aspx?item=panel&no=10</ref>

GMR Varalakshmi Foundation (GMRVF), is the Corporate Social Responsibility arm of the GMR Group. Its objectives are to develop social infrastructure and enhance the quality of life of communities around the locations that has the Group's presence. This non-profit (Section 25) company has its own staff and is Governed by Group Chairman, GMR Group.{{citation needed|date=August 2016}}

==References==
{{reflist}}

==External links==
*[https://www.forbes.com/lists/2006/77/biz_06india_Grandhi-Rao_C8QG.html Forbes India's Richest]
*[https://web.archive.org/web/20070311212541/http://www.forbes.com/lists/2007/10/07billionaires_Grandhi-Rao_C8QG.html Forbes World's Richest]
*[http://www.iht.com/articles/2006/11/23/bloomberg/sxmuk.php International Herald Tribune]
*[http://www.rediff.com/money/2005/apr/23spec.htm Rediff.com news article]
*[http://www.india-today.com/btoday/20040425/features4.html Business today news article]
*[http://economictimes.indiatimes.com/articleshow/2430267.cms Economic Times article]

{{DEFAULTSORT:Rao, Grandhi Mallikarjuna}}
[[Category:Indian billionaires]]
[[Category:1950 births]]
[[Category:Businesspeople from Andhra Pradesh]]
[[Category:Indian chief executives]]
[[Category:Living people]]
[[Category:People from Srikakulam district]]
[[Category:People from Uttarandhra]]
[[Category:Indian Premier League franchise owners]]

Grandhi Mallikarjuna Rao - Revision history

UpdateBot at 05:18, 29 June 2022