Meet Mumbai law graduate with net worth Rs 32900 crore who owns Shopper’s Stop, cousin is also a billionaire

Chandru Raheja leads the K Raheja Corp. His family opened India’s first departmental store in 1991. This group also owns Shoppers Stop. The family runs departmental stores, office parks and hotels.

Chandru Raheja is among four brothers who joined owned a massive property business. Raheja opened his separate business in 1996. His K Raheja Corp is now one of Mumbai’s leading developers. His sons, Neel and Ravi, run the group.

Chandru Raheja has built IT parks, hotels, malls and department store chain Shoppers Stop.

He also owns hotels like Mumbai’s JW Marriott and Hyderabad’s Westin.

Raheja family has three listed companies -- Mindspace REIT, Shoppers Stop and Chalet Hotels. The market value of these companies is Rs 37000 crore. 

In 2005, he bought a land in Hyderabad filled with boulders. The same land now provides office spaces to Google, Microsoft, TCS and Tech Mahindra. 

Shopper Stop’s market cap has gone up to Rs 8500 crore.

No one is the chairperson of the companies. The board of the company takes all the major decisions in matters involving more than Rs 5 crore.

Due to these decisions, family’s net worth has gone up from 1.8 billion dollars in 2013 to 4 billion dollars, Forbes reported.

Chandru Raheja was born in 1941. He is the son of Lachmandas Raheja. He has four brothers. He studied law from the University of Mumbai. His cousin Rajan 

Raheja is also a billionaire.

His net worth is Rs 32900 crore. His cousin, Rajan Raheja, owns Exide Industries and has a net worth of 3 billion dollars.