Where the rich are investing 2016

Rameswar Rao Jupally

My Home Group's chairman has most of his networth tied up in real estate and the cement business

RA Chandroo

The sprawling office of the privately-held My Home Group at Hitec City in Hyderabad is affluent, yet subtle. A tall man clad in a simple white shirt greets with a namaskar and goes back to signing a bunch of cheques. The red tilak on his forehead characterises his signature style. Rameswar Rao Jupally, founder and chairman of My Home Group, is a busy man these days. But the transition from a homeopath to a realtor happened by chance. During his early days as a practitioner, Jupally got a chance to sell a plot that he had bought for Rs.95,000 at Rs.2 lakh, within three months. The profit lured him into the property business, leading to the creation of My Home Constructions in 1986. The entry coincided with the IT boom that swept the region, eventually boosting realty prices. “I have never looked back ever since,” recalls Jupally. Today, it is hard to miss the My Home signboard if you are looking at buying a house in Hyderabad. The group is currently valued at $1 billion with a presence in realty, cement and power. As expected, all of Jupally’s wealth is tied up in his realty business.