Where the rich are investing 2015

Anand Deshpande

A substantial portion of the Persistent Systems' chairman's wealth will go to the DeAsra foundation

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Published 6 years ago on Nov 20, 2015 2 minutes Read
Soumik Kar

Like most first-time entrepreneurs, making money was the last thing on Anand Deshpande’s mind when he started his company, Persistent Systems, in 1990 with ₹2 lakh of his own and borrowed money. “When you are an entrepreneur, you have to be all in, so up until the listing in 2010, all the money was re-deployed into the company and I only took home a minimal salary. It was only after the IPO that I have been re-investing my dividend income in risk-free bonds and debt funds,” says Deshpande, who, along with his family members, holds a 38.4% stake in the company. The dividend income on the holding was around ₹43 crore in FY15. Based on the current market price, Deshpande’s stake alone (28.5%) is valued around ₹1,470 crore. But unlike most entrepreneurs, he looks at his stint at Persistent Systems as a job and not as a family business where his son or daughter will be groomed to take over the business.