The Untold Story of Qimat Rai Gupta, Founder Of Havells
Psychologists have correctly said that ¡°when one is truel ready for a thing, it puts in its appearance.¡± Like Qimat Rai Gupta was ready for it.?
Qimat Rai Gupta, founder and former chairman and managing director of Havells, started his career as a small trader in Delhi to build an Indian multinational electrical equipment company - Havells. Qimat Rai Gupta¡¯s story makes for an inspiring read that taught us how hard work and persistence are key to achieving one's goal.
Who was Qimat Rai Gupta?
Qimat Rai Gupta was born in a lower-middle-class family in the year 1937 in then undivided Punjab. Gupta¡¯s upbringing was shaped by the Indian quintessence and the teachings of the Bhagwad Gita.
He started his career as a school teacher in Punjab, but he had big dreams from the beginning and used to explore new possibilities in his trading business.
Call it destiny but while visiting Delhi on a holiday, Gupta got a chance to manage his uncle's electrical goods shop in Bhagirath Palace. Impressed by his enthusiasm, his uncle made him an equal partner in his trading business.
QRG turned an entrepreneur in 1958 when he founded Guptajee and Company with a sum of Rs 10,000. The company specialised in fixtures and electric cables.
How Haveli Ram Gandhi became Havells
Qimat Rai Gupta had always been known for making daring decisions, he bought Havells switchgear brand from a Delhi businessman, Haveli Ram Gandhi, for Rs 7 lakh in 1971. Contrary to the perception that the name is of German extraction, Havells is the anglicised name Haveli Ram Gandhi, grandfather of fashion designer Rohit Gandhi, gave to his switchgear company when he started it several decades ago.
There was no looking back for QRG after acquiring Haveli Ram Gandhi. From switchgear, he diversified into newer areas like cables, lighting, appliances, fans and geysers.?
Gupta, a shopkeeper from Baghirath Palace, made an empire of more than 22,000 crores from this brand. Today QRG¡¯s Havells is one of the largest electronics companies in the world.
Havells - big switch
Havells jumped into the big league in 2007, when it bought global lighting company Sylvania. The acquisition catapulted Havells among the world's top four lighting companies. Today, Havells owns global brands like Crabtree, Sylvania, Concord, Luminance and Standard.
In the 2013-14 fiscal year, Havells India reported a consolidated net profit of Rs 446 crore on sales of Rs 8,227 crore. The company's shares have more than doubled in the past year and have outperformed the broader Nifty, which is up 37 per cent.
Qimat Rai Gupta, former chairman of electrical equipment maker Havells India, has made it to the Forbes' billionaire list for the first time. Gupta, whose net worth was $2 billion as of September 2014, is India's 48th richest man, according to Forbes.
Company's social responsibility
Company Social Responsibility was never left in the dark with QRG. Havells¡¯ investment in staff and transport infrastructure has improved their workers¡¯ standard of living by manifolds while there setting up and maintaining of a central kitchen has fed nutritious, wholesome and hygienic mid-day meals to over 50,000 school going children each day, covering 666 government schools in the Alwar district of Rajasthan.
Tracing Qimat Rai Gupta¡¯s journey
From beginning his career as a small trader in Delhi to building an Indian multinational electrical equipment company Havells. Qimat Rai Gupta¡¯s journey was inspiring and his son Anil Rai Gupta writes a book on his father's life name, Havells: The Untold Story of Qimat Rai Gupta.
Anil Rai Gupta, son of Qimat Rai Gupta is the chairman and managing director of Havells India Ltd. He joined Havells in 1992 and rose through the ranks under the tutelage of his father. Anil led the acquisition of German lighting - system company Sylvania in 2007 and was also instrumental in its turnaround after the economic meltdown of 2008. He studied economics at Shri Ram College of Commerce, University of Delhi, and has an MBA from Wake Forest University, North Carolina, USA.
Born in a low-income family of Malerkotla in Punjab, Qimat Rai Gupta passed away quietly on November 7, 2014, his worth was almost $2 billion when he died at the age of 77 after a cardiac arrest.
A businessman who kept himself a low profile and stayed focused on his work created a minimum fuss in his life - and in death.
And that's why the life of Qimat Rai Gupta was extraordinary, he always kept himself away from the limelight, which inspires thousands across the country.
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