Shravan Gupta
Businessperson (b. 1973) From Wikipedia, the free encyclopedia
Businessperson (b. 1973) From Wikipedia, the free encyclopedia
Shravan Gupta (born 1973) is an Indian businessman, serving as the chairman of MGF Group.[2][3] He was previously a director at Emaar MGF Land.[4][5][6][7]
Shravan Gupta | |
|---|---|
| |
| Nationality | Indian |
| Alma mater | Shri Ram College of Commerce |
| Occupation | MD & Chairman of MGF Group |
| Spouse | Shilpa Gupta[1] |
| Children | 2 |
Gupta has done his bachelor's degree in commerce from Shri Ram College of Commerce, University of Delhi.[8] He is married to Shilpa Gupta[1] and has two daughters with her.[8]
After doing his B.Com from a college in Delhi, Shravan joined his family business,[8] namely Motor & General Finance Ltd. (MGF), a vehicle-finance/lending company which had been founded in 1930. He served as a Non-executive director of Motor & General Finance until 30 March 2007. In 1997, MGF diversified into real estate, when Shravan founded MGF Developments. The company created over 5 million square feet of mainly retail space (but also some commercial and residential space), building five shopping malls, including three in Gurgaon which are clustered together within a range of one Km (The Metropolitan, The Metropolis and The Megacity Mall), and one each in Delhi (City Square Mall) and Jaipur (MGF Metropolitan Mall).[9]
In 2006, Shravan's MGF Developments entered into a joint venture with Emaar Properties PJSC Dubai to invest in the Indian realty space.[10][9] The joint venture company, Emaar MGF, has invested about Rs.8,500 crore in the Indian real estate market, of which about Rs. 7000 crore (INR 70 billion/USD 1 billion) was brought in by Emaar, which represents the largest Foreign direct investment in India in the real estate sector.[11] Emaar and MGF announced that they were parting ways and that the joint venture would be divided vertically.[12] Two months later, Shravan resigned from his position as Executive Vice-Chairman & Managing Director of Emaar MGF.[10][13]
The NCLT later allowed the withdrawal of insolvency proceedings against Shravan Gupta’s real estate firm, after the company reached to a settlement with the homebuyers who had dragged the company to NCLT.[14]
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