At 83 years old, Chandru Raheja stands as one of India’s wealthiest individuals, renowned for his prowess in the real estate sector. With a staggering net worth of Rs 41,000 Crore ($5 billion), he has carved out a significant place in India’s business landscape.
The Legacy of K Raheja Corp
Chandru Raheja currently serves as the Chairman of K Raheja Corp, a conglomerate that traces its origins to his late father, Lachmandas Raheja, who founded the group in 1956. Following a familial split in 1996, Chandru Raheja took the reins of the business, steering it to unprecedented heights in the real estate industry.
Business Ventures and Successes
Under Chandru Raheja’s leadership, K Raheja Corp has become synonymous with excellence in real estate development. The conglomerate’s portfolio spans across diverse sectors including office spaces, hospitality, malls, residential offerings, retail, and power.
Noteworthy entities under its umbrella include:
- Shoppers Stop: A prominent department store chain with a nationwide presence.
- Inorbit Mall: Luxury retail destinations located in Mumbai, Hyderabad, and Vadodara.
- Mindspace: State-of-the-art IT parks situated in Mumbai, Hyderabad, Chennai, and Pune.
Chalet Hotels and Hospitality Ventures
Another significant vertical under K Raheja Corp is Chalet Hotels, renowned for its upscale hospitality offerings. The portfolio includes prestigious names like JW Marriott Mumbai Sahar, The Westin Hyderabad Mindspace, Bengaluru Marriott Hotel Whitefield, and The Dukes Retreat in Lonavala. Chalet Hotels made headlines with its successful listing in 2019, further cementing its position in the hospitality industry.
Recent Successes and Market Influence
In the first quarter of 2023, K Raheja Corp Homes, the conglomerate’s residential arm, achieved remarkable sales figures of Rs 1,100 crore. This feat was attributed to the success of Raheja Modern Vivarea, a luxurious residential project comprising two towers in South Mumbai.