Ever heard of a man named Subhash Runwal? Mumbai, the financial hub of India, is a place of opportunities where…
Subhash Runwal (photo:Twitter)
Ever heard of a man named Subhash Runwal? Mumbai, the financial hub of India, is a place of opportunities where individuals from all across the nation have penned incredible success tales. One such example of an outsider rising to the top of the field without support is the Bollywood celebrity Shah Rukh Khan. One of SRK’s famous neighbours has a similar success story. He arrived in the city with barely Rs 100 and quickly established a sizable business empire. Now a billionaire, Subhash Runwal is significantly wealthier than his well-known neighbour.
Runwal, who is now 80, is one of the city’s leading developers and is renowned for assisting middle-class families in realising their dream of home ownership. He serves as the chairman of the Runwal Group, which develops numerous commercial centres and residences ranging from modest to opulent.
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A little town in Maharashtra by the name of Dhulia is where the tale of Runwal begins. He witnessed his parents’ financial struggles as a child. In 1964, a 21-year-old Runwal left for Mumbai with barely Rs. 100 in his pocket, his hopes of becoming an accountant, and a commerce degree from Pune. In 1967, he graduated as a CA and accepted a position with Ernst & Ernst. He was given a well-paying position in the US, but he returned to India shortly after since he did not like the way of life there. He then worked for a chemical firm, but in 1978 he made the decision to go it alone and put all of his money into real estate.
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His first property was 22 acres in Thane, and his first project was Kirtikar Apartments, a 10,000-square-foot housing society. He rose to prominence in the market for affordable housing. He constructed the 16-tower cluster of the iconic Runwal Nagar in 1981. He later ventured into the steel and pharmaceutical industries, but those ventures did not enjoy the same level of success.
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