Jupally Rameshwar Rao was born into a family of farmers, had to walk for kilometers everyday to be able to study and had chosen a life of a homeopath, not a billionaire businessman.
The story of Rameswar Rao is made of the stuff that inspires money-minting Bollywood family movies. From having to walk miles to school, losing his father at an early age and choosing a modest life as a homeopath, the Hyderabad-based industrial tycoon is today at the helm of a massive business empire and commands a net worth of over Rs 10,600 crore ($1.3 billion).
Jupally Rameshwar Rao was born into a family of farmers with around 30 acres of land in a village in Mahabubnagar district. He used to walk for kilometres to reach school to study. In 1974, he arrived in Hyderabad to study homeopathy and build a career as a homeopathic doctor. However, he encountered several turning points in his life.
The first came while in college, when he became a student leader and led a strike. Rao gained prominence and contacts. This helped him set up his homeopathy clinic in DilsukhNagar area of Hyderabad. Seeing the opportunity of an underdeveloped area and help from his realtor clients, Rao entered the world of real estate in the 1980s.
It was an investment of Rs 50,000 which marked a change in Rao's life. He invested it in a plot of land on the advice of a friend and got Rs 1.5 lakh in return when he sold it after 3 years. He then left homeopathy and entered into the world of business full time.
Rao founded his company My Home Constructions in 1981. In the decades to follow, he became one of the most prominent Telugu real estate tycoons in the country. Rao’s company builds societies, apartment flats, villas and offices. He also owns the brand Maha Cement, one of the largest producers of cement in South India. His company has a turnover in excess of Rs 4,000 crore. Most of his four sons and four daughter-in-laws work in Rao’s group handling different corporate functions.