His uncanny resemblance to a star in the extended family is pretty evident. Today he might be on the wrong side of 30s and not a film star, but he?s pretty much a star in the industry he is in.
For Nikhil Nanda, joint managing director of Escorts Limited, his work is his passion and it?s pretty evident from almost everything about him. His wife Shweta Nanda (Amitabh Bachchan?s daughter), recollects Nikhil, says as much, ??She says I?m a boring guy. For me Escorts is not just work, it?s passion.??
It?s little surprise when you realise it comes from the grandson of H P Nanda, a pioneer in his own right when you think of the Indian Industry. ??He is a man I really look up to. To think of it, he came to India with his family and Rs 500. And look at where he took the Indian Industry to. He was a man of great vision and I consider him as one of the founders of the Indian Industry.??
And if there is something that this young Nanda wants to do is to take the group to the heights his grandfather would be very proud of. What is interesting to note is how business slowly creeped into his system. Growing up as the children of Ritu and Rajan Nanda, says Nikhil, never made things different for him and sister Nitasha. ??We grew up like other normal children. We Were disciplined in everything we did. We even maintained budgets. In fact our parents made sure we never felt any different from other children,?? says Nikhil.
He was about 13 when he was sent to Doon School because his parents thought a good boarding school could make a lot of difference. It did, ??I learnt a great deal at Doon. Be it travelling on DTC buses to Dehradoon or the very time table I had to follow at the hostel, everything changed me as a person. I kind of grew up a lot in those years.??
As a young boy, Nikhil also remembers accompanying his grandfather, the late Raj Kapoor (Ritu Nanda?s father) to film shoots. ??For the outside world he might have been a great director and famous actor, I saw him as any child would see his/her grandfather. In his night suit, having tea, talking to us. Shoots were fun as well. I accompanied him to Gangotri where he was shooting Ram Teri Ganga Maili. I was with him even during the shooting of Gopichand Jasoos. Shooting had its own charm. There were lights and cameras and pretty women around. It was interesting.??
It was probably this glamour element that had made him take up a few modelling assignments, something he is most embarrassed about now. ?Oh, I think it was one of those things I wanted to try as a young guy. It?s most embarrassing now.?
But the lure of the glamour wasn?t enough to change what he saw and heard most as a child, the art of business. ?I think somewhere along the line I?d always been toying with the idea. But yes, I?d say it was in class 10 when my grandmother passed away and I spent a lot of time with my grandfather (H P Nanda) that I decided to get into the family business.?
After finishing his school, Nikhil went to Wharton Business School, Philadelphia. He graduated in business administration in 1995 and majored in management and marketing. And his stint abroad as a student, says Nikhil, ?made a man out of me.? Because not only did he learn about subjects, he also learnt about people from different backgrounds. ?These things I?d say really broadened my perspective.?
After coming back in 1998, Nikhil joined as director, business Development, Escorts Yamaha Motor Ltd. (EYML) when he was all of 21 and worked at the shop floor for almost four and a half years. It wasn?t easy given the fact that he was still a young man and he admits as much. ?It certainly scared me. And from that perspective, I gave up a lot of aspects of my life. I had to become serious in my life. I got married when I was 23. I had children at a young age. So everything in my life came in really early. So I was very very focused in taking up responsibilities and in settling down at my work place. It just evolved. Both my parents have been very facilitating. They?ve been around but let me take my own decisions. And so far, I have been happy with all my decisions.? He was responsible for formulating the joint venture agreement with Yamaha Motor Company and the strategy for the motorcycle business.
The 34-year-old has been actively involved in day-to-day operations of the company since he took over as its executive director in May 2000. As a member of the core group he has been responsible for strategising the group initiatives and developing, recommending and executing maximum value for its shareholders.
What probably makes Nikhil deserve the accolades is because of the kind of person he is. ?I don?t have a chip on my shoulder. I like to work very closely with my team, I don?t have a bossy attitude and I like to mingle with my people. To be a successful businessman, you have to have traits of being a people-centric person. A lot of time the top job is about motivating people. I?ve always liked mingling with people rather than adopting a top-down approach. A lot of times, it?s also about walking behind your team to make your people to walk the talk. Escorts is not H P Nanda, Rajan Nanda or Nikhil Nanda. Escorts is about 8,000-9,000 people who are working here. They constitute the genetics of the company.?
The year 2007 came with more responsibility as he was appointed the joint managing director. It?s a challenge he took on easily for the simple reason that designations, says Nikhil, are not important. ?What does a designation mean? You can take away a title from me, but you can?t take the passion away. I love this company. The passion and resolve of what I have for this company will remain. I think a title is something you have to earn.?
Ask him if he has earned his and he smiles, ?I?m far too young to have earned it. Even when I?m 50 and you ask me if I?ve earned it and I?ll probably still say, I have along way to go. I?m far too ambitious for my company. And I?m going to be realistic on that ambition. I simply want to take this company to the position of rest and regard it was two decades ago.?
His young shoulders, you realise, have learnt to deal with responsibility and difficult times with ease. Take, for example, the restructuring of the group which began in 2000. ?You have to have the faith and move on. This is my life and I?m never going to give up. I wake up every morning and the only mad dream I have is what can I do to add value to this company. It?s a passion I can?t put in words. I breathe, I live Escorts. If you tell me to take a cheque of Rs 200 crore and sit at home I can?t do it. I want to be a part of this evolution India is seeing and have Escorts flag flying up there.?
And move on they sure did. The liability of about Rs 1,700 crore five years back is down to Rs 520 crore (including working capital of Rs 290 crore). ?We?ve been able to construct the company backwards. Five years back the company needed to go through restructuring and I can proudly say we?ve done it successfully. And now we are focusing on three businesses ?tractors, construction equipment and automotive components. We are tanked up with fuel and ready to take off.?
What is interesting about Nikhil, however, is to see him when he is not at work. He is shy, introvert and emotional, like he puts it. The son-in-law of Jaya and Amitabh Bachchan is not the man you?ll spot easily at parties. ?I?m very fortunate to have them. I have a lot of respect for my father- in- law and mother-in-law. My brother-in-law and sister-in-law are wonderful people. We are a happy family.?
That said you?ll not really spot him at Bollywood dos. ?I have a few friends and I?m not very comfortable at parties and big gatherings.? He?d rather spend time with daughter Navya Naveli, son Agastya and wife Shweta. ?Seeing my children grow up is a pleasure,? he smiles.
His life, says Nikhil, is pretty simple, he loves his work and hobbies aren?t something he has. Then as an afterthought he adds, ?Flying is something I?ve always wanted to do. But the closest I?ve come to it is a flight simulator. I don?t think I can fly. I?ve chosen a life and I need to be honest to it.? He says even as his eyes look longingly at the lovely blue sky above.
Fact file
•Nikhil Nanda, 34, is the son of Ritu and Rajan Nanda
• He is the joint MD of Rs 3,500 crore Escorts Ltd
• The company plans to grow to Rs 7,000 crore by 2012
• He was one of the five Indians, who were selected as the Global Leaders of Tomorrow for the year 2001 by the World Economic Forum, Geneva