Meet the 90-year-old billionaire Benu Gopal Bangur

Meet the 90-year-old billionaire Benu Gopal Bangur

by 5paisa Research Team Last Updated: 2022-02-16T19:10:30+05:30

The legacy of the Bangur Empire is still on!

Benu Gopal Bangur, the chairman of Shree Cements is one of the richest persons in India. According to the Forbes list, this 90-year-old billionaire from Kolkata ranks 20th in the Indian rich list. His net worth is estimated to be around Rs 56,250 crore. He is a major stakeholder in Shree Cement which has a market capitalization of around Rs 89,750 crore.

Bangur hails from Kolkata and belongs to a Marwari business family. He carried the entrepreneurship traits in the family itself. In those times, his grandfather, Mungee Ram Bangur, used to be a stockbroker, and his brother Ram Coowar Bangur led the foundation of the Bangur Empire, one of the biggest family groups of India. He completed his B.Com honours degree from Calcutta University. In those times, he was one of the first graduates in Kolkata.

Shree Cements was started by Bangur’s grandfather in Jaipur. He bequeathed a huge 65% stake in Shree Cements after which he became the chairman of the company. The company is also known as Bangur Cement. Under his watch, the cement company has become the third-largest cement company in India by market cap today. The company has a name for being India’s one of the most cost-efficient cement companies.

Since 2010, the company’s revenues have quadrupled from Rs 3,543 crore to Rs 14,165 crore (trailing twelve months). Today, the company manufactures and sells cement under the brand names Roofon, Bangur Power, Shree Jung Rodhak, and Rockstrong.

Currently, at the ripe age of 90, he has let his children take care of the business empire that carries its legacy with it. His son, Hari Mohan Bangur, a chemical engineer from IIT Mumbai, is currently looking after the company.

Also read: ABG Shipyard scam: All you want to know about India’s biggest bank fraud

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