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Rs 7 Lakh To Rs 1,21,598 Cr: This 77-Year-Old Businessman Died Decades Ago But Left A Rich Legacy; He Was....

Havells Success Story: Qimat Rai Gupta was a prominent Indian entrepreneur and the founding chairman of Havells, a leading global electrical company. Born in 1937 in Malerkotla, Punjab, India, he came from a modest, lower-middle-class background.

His entrepreneurial journey began with the establishment of a small electrical products store in the bustling Bhagirath Place market in Delhi. Under his visionary leadership, Havells expanded its footprint and now owns renowned global brands, including Crabtree, Sylvania, Concord, Luminance, and Standard, cementing its position as a major player in the electrical industry.

Zee Media Bureau|

Updated:Nov 19, 2024, 08:10 PM IST

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Early Life And Background

Qimat Rai Gupta is born in 1937 in Malerkotla, Punjab. He grew up in a lower-middle-class family. His childhood was shaped by strong Indian values and the teachings of the Bhagwad Gita, laying the foundation for his later entrepreneurial journey.

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Founding Guptaji And Company In New Delhi (1958)

In 1958, Qimat Rai Gupta moved to New Delhi and founded Guptaji & Company, an electrical trading business, with a modest capital of Rs 10,000 in Bhagirath Place, a well-known wholesale market for electrical goods. This marked the beginning of his business career.

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Acquisition Of Havells In 1971

A pivotal moment in Gupta’s career came in 1971 when he acquired the Havells brand for Rs 700,000 from Haveli Ram Gandhi. This acquisition transformed the company into a household name in India.

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Anil Rai Gupta’s Role And Rise

Anil Rai Gupta, Qimat’s elder son, joined Havells in 1992. Under his father’s mentorship, Anil progressed through the company and eventually became the Chairman and Managing Director of Havells India Ltd., continuing the legacy.

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Qimat Rai Gupta's Son's Education

Anil holds an MBA from Wake Forest University, USA, and studied economics at Shri Ram College of Commerce, University of Delhi. His leadership was instrumental in Havells’ growth, including the strategic acquisition of German lighting company Sylvania in 2007.

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Qimat Rai Gupta’s Net Worth and Legacy

Qimat Rai Gupta passed away at 77 due to a cardiac arrest, with a net worth estimated at $2 billion (around Rs 16,800 crore) at the time. His visionary leadership helped build Havells into a global brand with a strong presence in the electrical industry.

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Havells India Valuation

Under the leadership of Anil Rai Gupta, Havells India now stands at a valuation of Rs 1,21,598 Cr reportedly, a workforce of 6,500 employees, and over 20,000 trade partners. The company operates in more than 50 countries, continuing to thrive and expand globally. (Image Credit: File Photo)