Megha Engineering and Infrastructure Limited (MEIL) is India's third most valuable unlisted company. Not only this, it is also the second biggest bootstrapped entity in the country, which speaks volumes about its revenue. For the unversed, MEIL operates as a major engineering and infrastructure conglomerate with 40,000 direct employees and more than seven million people are associated with it.
Megha Engineering and Infrastructure Limited was founded back in 1989 by Pamireddy Pitchi Reddy under the name, Megha Engineering Enterprise. PP Reddy's Megha Engineering and Infrastructure Limited (MEIL) operates in 20 countries and is headquartered in Hyderabad. Apart from being one of the global leaders in infrastructure, MEIL has made its mark in oil and gas, transportation, telecom, irrigation, power, defence and many other sectors.
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Pamireddy Pitchi Reddy was born back in 1957 in Dokiparru village, Krishna district, Andhra Pradesh. He was born into a farmer's family, but right from an early age, he wanted to provide a comfortable life for his family.
As a result, he did the unthinkable. Pamireddy Pitchi Reddy started a company under a shed with two people by the name, Megha Engineering Enterprises in 1989. The company started its journey by constructing small pipes for municipalities.
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Just two years later, in 1991, Pamireddy Pitchi Reddy brought his nephew, P.V. Krishna Reddy, into his business. After gaining initial success in his business, Pamireddy Pitchi Reddy's company started dealing in infrastructure projects, natural gas distribution, roads, and dams. It was in 2006 that PP Reddy decided to expand his company and changed the company's name from Megha Engineering Enterprises to Megha Engineering and Infrastructure Limited (MEIL).
In 2015, MEIL's arm, Megha Gas was established, and it launched its CGD activities in Krishna district (Andhra Pradesh) and Belgaum and Tumkur (Karnataka). After the success of its activities in Andhra Pradesh and Karnataka, Megha Gas expanded its arms to Telangana's four districts, Khammam, Warangal, Nalgonda, and Rangareddy.
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Over the years, Pamireddy Pitchi Reddy's Megha Engineering and Infrastructure Limited has worked on a series of high-paying projects. However, if we talk about some of the most recognised projects that not only brought them immense recognition to Megha Engineering across the world. Such three such projects include the Kaleshwaram Lift Irrigation Scheme in Telangana, the Polavaram project in Andhra Pradesh, Zojila Tunnel project, and the construction of a bullet train station at Mumbai's Bandra Kurla Complex.
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In a span of 35 years, the way Pamireddy Pitchi Reddy has taken his company, Megha Engineering and Infrastructure Limited, from a shed into one of the wealthiest conglomerates in India is beyond words. According to a report in DNA, Megha Engineering's market value was around the mammoth sum of Rs. 67,500 crores as it saw a growth of 22.1 per cent.
Earning a massive amount of money is one thing, but spending that money in the best way is not everyone's cup of tea. Although not much is known about Pamireddy Pitchi Reddy's possessions and assets, but it is his diamond house that needs no introduction.
PP Reddy's diamond house is one of the most talked-about things in Hyderabad. The exterior of the property looks like a huge diamond and one look at it speaks volumes about PP Reddy's luxurious lifestyle.
The Hyderabad-based billionaire, Pamireddy Pitchi Reddy is married to Rama Reddy, and they have two daughters, Megha and Manjali. Both girls are married and leading their respective families. Not everyone is aware of the fact that PP Reddy is one of the few billionaires who is extremely active on social media. The founder of MEIL has a massive fan following of 16.9K followers on his Instagram handle.
Every now and then, we have seen PP Reddy sharing pictures with his wife, Rama Reddy, his daughters, Megha and Manjali, and his son-in-law. However, he has never tagged his daughters and son-in-laws on his IG posts, which confirms that they prefer not to stay in the media limelight. While his daughters and son-in-laws stay away from social media, PP Reddy never misses a chance to give his followers a sneak peek into his luxurious lifestyle.
For the uninitiated, Pamireddy Pitchi Reddy is one of India's most respected self-made billionaires. He was among the top wealth makers in the year 2023, as he added Rs. 24,700 crores to his wealth as per a report from the 360 ONE Wealth Hurun India Rich List 2023. According to a report in DNA, PP Reddy entered into the list of India's 100 richest people in 2023 with an estimated net worth of Rs. 37,300 crores.
It was in March 2024 when Megha Engineering and Infrastructure Limited (MEIL) grabbed headlines after the State Bank of India (SBI) submitted the details of electoral bonds as per the Supreme Court's order. According to a report in The Quint, Megha Engineering donated a mammoth sum of Rs. 584 crores to a political party between April 2019 to October 2023. As per the same report, MEIL's linked companies, Western UP Power Transmission Company Limited and SEPC Power donated Rs. 85 crores to the same political party, which took MEIL Group's total donation to Rs. 669 crores.
As soon as the list was made public, people learnt about MEIL's Rs. 669 crore donation to a political party through electoral bonds, and most of them started searching about the background of Megha Engineering and its founder, Pamireddy Pitchi Reddy. This is why, we have dug deep into the internet to find authentic pieces about PP Reddy's journey as an industrialist. We hope you're inspired by PP Reddy's journey from being a farmer's son to now living in a diamond house!
Isn't it incredible how Pamireddy Pitchi Reddy has built a company from scratch that now has a market value of Rs. 67,500 crore? Share your thoughts with us.
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