Jupally Rameshwar Rao was born in a Mahabubnagar district to a farming family. He is the founder and chairman of My Home Group, that situated in Hyderabad and operates in the real estate, cement, and electricity sectors. One of his company’s brands, Maha Cement, is said to generate 3,000 crore in annual revenue.
The Hyderabad-based industrial entrepreneur, who had to travel miles on foot to attend school, lost his father when he was young, and decided to lead a simple life as a homoeopath, but a Rs 50,000 changed his life and he is now in charge of a vast corporate empire and has a net worth of more than $1.3 billion.
Early Life
Rameshwar was not born into generational wealth and had to struggle to create an identity for himself. His sucess story is an inspiration for all. He used to travel miles to get to the school where he studied. He moved to Hyderabad in 1974 to study homoeopathy and pursue a profession as a homoeopathic physician.
On his rocky path to success he encountered quite a few turning points that helped him reach the epitome of success. While pursuing homeopathy he earned notoriety and connections when he led a strike as the student leader. This assisted him in opening his homoeopathy clinic in Hyderabad’s Dilsukh Nagar neighbourhood.
Starting is own business
Rao entered the real estate industry in the 1980s after recognising the potential of an underdeveloped area and receiving assistance from his realtor clients. On the recommendation of a friend, he invested it in a land piece, and when he sold it three years later, he received Rs. 1.5 lakh back. After that, he quit practising homoeopathy and started working in business full-time.
His business venture, Maha Cement, Rameswar Rao entered the cement industry and founded Maha Cement part of My Home Industries Private Limited. In 2008, he sold 50% of the company shares to CRH plc, an Irish company, for Rs1429 crore. Thereafter, for $1,400 crore, he acquired the 3.2 million tonne cement facility Sree Jayajyothi Cements in 2013 from Shriram Epc. Maha Cement is now one of South India’s leading cement producers with a capacity of 10 million tonnes.
Rameshwar Rao is one of the leading people in this industry and he was reportedly among the donors for the construction of the Statue of Equality, 216-foot tall statue in Hyderabad depicting Ramanuja, an 11th century Hindu philosopher.