G M Rao


GM-RaoFounder & Chairmen – GM Group

G M Rao was born on 14 July 1950, in Rajam, Srikakulam district in 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 the Andhra Pradesh Government as a junior engineer.

He soon entered the trading of commodities as his entrepreneurial nature made it difficult for him to stay content with a mere day job. After developing good relations with suppliers and customers in the business of commodities trading, he acquired a failing jute mill for at a bargain, this venture proved to be lucrative and allowed GM Rao to use leverage from local banks to acquire other assets. Eventually GM Rao invested his stake in a multitude of industries and started a bank named Vysya Bank in collaboration with ING. Rao eventually diluted his stake in this business and decided to enter the business of energy and infrastructure with the proceeds from the sale. The entry into the power business allowed Rao to build what would become India leading infrastructure asset developer, as GMR’s closest competitor, GVK, is 6 times smaller by market capitalization, making Rao the leader of India as an infrastructure asset developer by revenues, asset size, and market capitalization.

His CSR arm, GMR Varalakshmi Foundation, currently serves the underserved sections of society in 22 locations. He donated Rs.1540 crores in 2012 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’ by donating Rs. 740 Crores in the year 2013, G M Rao was the third generous donor of corporate India for the year as per the China’s Harun Report Inc.

Key attributes:

1. His CSR arm, GMR Varalakshmi Foundation, currently serves the underserved sections of society in 22 locations.

2. GM Rao invested his stake in a multitude of industries and started a bank named Vysya Bank in collaboration with ING.

3. G M Rao was the third generous donor of corporate India for the year as per the China’s Harun Report Inc.

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