Reddy lives in a luxurious mansion in Hyderabad. It is called the Diamond House and shines like a diamond. Reddy also has a private golf course.
Megha Engineering and Infrastructure Limited (MEIL) is the third-most valued unlisted company in India. Furthermore, it is the nation's second-largest bootstrapped organisation, which says a lot about its revenue. For those who are unaware, MEIL is a significant engineering and infrastructure corporation that employs 40,000 people directly and has a network of more than seven million people.
Pamireddy Pitchi Reddy established Megha Engineering Enterprise, which later became Megha Engineering and Infrastructure Limited. With its headquarters located in Hyderabad, PP Reddy's Megha Engineering and Infrastructure Limited (MEIL) conducts business throughout 20 nations. MEIL has established itself as a global leader in infrastructure and has also achieved success in several other industries, including oil and gas, telecom, transportation, irrigation, power, and military.
PP Reddy an engineer and construction magnate is one of the richest people in India. As per Forbes report, he is worth Rs 16,591 crore. In the engineering and construction sectors, he is the richest individual, according to the 360 Wealth Hurun India Rich List 2023. Reddy was born into an ordinary farming family and is their fifth child.
Reddy's family did not have any business background. But in 1989, Reddy decided to try something new, and he and two colleagues founded Megha Engineering Enterprises. Reddy's company has expanded rapidly over the past 34 years, and it is now ranked among the richest business tycoons in India. Megha Engineering and Infrastructure (MEIL) is valued at Rs 67,500 crore in the market as of February 13, 2024. MEIL experienced a growth of 22.1% in 2023.
The company began with modest pipes and constructed the biggest lift irrigation project in India. The company began by manufacturing small pipes and then expanded to build irrigation projects, highways, dams, and natural gas distribution networks. Since then, the business has made a name for itself as a significant force in the building of significant infrastructure projects.
PP Reddy's business constructed the greatest lift irrigation project in India. For $14 billion, the business built the Kalleshwaram Lift Irrigation Project in Telangana. Built on the Godavari River, the project irrigates 18.26 lakh acres over 13 districts. The Kalleshwaram project is dubbed "The Expansion of the River" by PP Reddy.
Reddy lives in a luxurious mansion in Hyderabad which was designed to look like a massive, sparkling diamond. The house, 'Diamond House,' is now a well-known modern landmark in Hyderabad. Reddy even owns his own personal golf course.
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