Four decades ago, PNC Menon dropped out of college and headed to Muscat with Rs 50 in his pocket. Today, he helms a multi-billion-dollar real estate empire that extends from Saudi Arabia to India. He is now on the cusp of diversifying into newer businesses and starting a real estate fund.
Seated on a plush sofa in suite number 1663 at The Oberoi, Mumbai—his favourite suite which provides a sweeping view of the Arabian Sea—Puthan Naduvakkatt Chenthamaraksha (PNC) Menon proclaims: “I will retire only in two ways—one is if I’m not alive, and, second, if I’m not able to move.”
The 68-year-old, self-admittedly, is addicted to success. “If you’re successful, you want to succeed more and more. It’s an endless journey. It’s an addiction which I’m enjoying,” says the NRI billionaire (Forbes estimates his personal net worth at $1.64 billion).
This addiction has taken him places, both in terms of geography and business. The founder and chairman of Sobha Group, a construction and real estate player in the UAE, and chairman emeritus of India-listed real estate developer Sobha Limited, is diversifying into newer sectors: Hospitality, with the launch of his own hotel brand Strada; branded furniture and lighting, for which he is setting up a factory in Abu Dhabi; real estate consultancy services; and a multi-billion dollar real estate fund, Menon Capital, which would invest in rent-yielding commercial assets across Europe, the UAE and India.
For the last one, Menon intends to draw on his decades-long experience. “I have been in the building industry for 47 years. I thought it is time for me to leverage the knowledge that I have got over this period to launch a fund which would drive investments into real estate,” says Menon. “We are ready and should be getting into the market any time now.”
Denne historien er fra April 14, 2017-utgaven av Forbes India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra April 14, 2017-utgaven av Forbes India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Home-Cooked Meal Is Now Greatly Valued
The pandemic has also brought with it an improved focus on hygiene, use of technology in dining, rise of cloud kitchens and resurgence in popularity of Indian ingredients
Paytm 3.0 - Reaching Near Breakeven In Two Years
As of 2020, Vijay Shekhar Sharma’s super app for financial services had run up losses in thousands of crores. Now, as digital payments gets yet another boost courtesy Covid-19, he’s hopeful of reaching near breakeven in two years
THE PANDEMIC HAS CAUSED WOMEN GREATER LABOUR PAIN
Covid-19 has shown that women are more likely to face the brunt of job losses than men, and find fewer opportunities when they want to resume. That apart, several have to deal with increased hours of unpaid work at home and even domestic abuse
LEADERSHIP WILL BE ABOUT SEEING THE BIGGER PICTURE
Leaders must not only guard their teams first during a crisis, but also deal with stakeholders with respect and dignity. And apart from pursuing business goals, they should remain committed to our planet and the environment
PHILANTHROPY SHOULD BE HUMBLE, BUT NOT MODEST
Apart from building a flexible and resilient framework for the future, philanthropists, civil society and the government must work in tandem so that every rupee is absorbed on the ground
INTEGRATED HEALTH CARE, TECH WILL DISRUPT SECTOR
While clinical research will get a boost, having a skilled workforce and public spending on health care will be challenges in the near term
DIGITALISATION WILL HELP IN VALUE CREATION
As the pandemic brings technology and innovation to the core of business and daily life, the next decade will see about 150 million digital-first families in India
Industry 4.0: Climate Revolution?
Augmenting sustainability alongside digital capabilities is an economic, competitive and global opportunity for India’s businesses, but regulations need to reflect intent
EV Dream Still Miles Away
Electric vehicles have remained a buzzword in India for years. But not much has moved on ground due to high upfront costs, range anxiety and charging infrastructure
Living Waters
A virus has caused us to scramble for oxygen but our chokehold on the environment is slowly strangling the very waters that breathe life into us. The virus is a timely reminder: We are merely consumers, not producers of life’s breath on this planet
