Not too long ago, brothers Kapil and Dheeraj Wadhawan, 49 and 44, respectively, and the promoters of the Mumbai-based NBFC (non-banking financial company) DHFL, were the toast of the Mumbai corporate circuit. Armed with an MBA degree from Edith Cowan University in Australia, Kapil had joined the family's real estate financing business, called Dewan Housing Finance Limited at the time, in 1997, and together with brother Dheeraj, oversaw a big turnaround in its fortunes. From sales revenues of roughly Rs 100 crore and profits of just Rs 16 crore when Kapil took over, the business grew to Rs 10,826 crore in revenues by 2016-17, with a net profit of Rs 2,896 crore. The brothers also expanded the business through a string of acquisitions and diversified it from a pure home loan company to a broader financial services firm that extended loans for education and to small and medium enterprises, and entered the life and general life insurance business, besides mutual funds. They also lived life kingsize, owning a private plane, a yacht and a fleet of luxury cars, including a Rolls Royce Phantom and a Bentley, and moved around with gun-toting bodyguards.
KAPIL WADHAWAN Former CMD, DHFL
DHEERAJ WADHAWAN Former director, DHFL
Their father Rajesh Wadhawan had founded the company in the 1980s. He passed away in 2000, three years after Kapil took over. Rajesh's brother Rakesh and nephew Sarang ran the family's older real estate business, HDIL (formerly Housing Development and Infrastructure Ltd), until recently.
Diese Geschichte stammt aus der July 11, 2022-Ausgabe von India Today.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der July 11, 2022-Ausgabe von India Today.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Grand Young Master
Seventeen-yearold D. Gukesh has become the youngest player to win the Candidates chess tournament
SPORTING SPIRIT
BADMINTON PLAYER ASHWINI PONNAPPA, 34, IS OFF TO HER THIRD OLYMPICS, THIS TIME WITH A NEW PARTNER, TANISHA CRASTO
PORTRAITS OF A PEOPLE
Etchings by the colonial Flemish artist F. Baltazard Solvyns are getting a new lease of life in an exhibition at the Dr. Bhau Daji Lad Museum, Mumbai
Centennial Man
A seminal exhibition of K.G. Subramanyan's works in his birth centenary year at Emami Art, Kolkata takes an imaginative and immersive curatorial approach
Rhythms of Nature
ARTIST AND MUSIC COMPOSER GINGGER SHANKAR'S LATEST SINGLE COMBINES SOUTH INDIAN MUSIC WITH INUIT THROAT SINGING
SEARCHING FOR THE SOUND
Kashmiri musician Faheem Abdullah’s debut album Lost; Found is a collaborative effort
FOUND IN TRANSLATION
With its excellent translations, Songs of Tagore makes Rabindrasangit accessible to the non-Bengali reader
Of Freedom and Friendship
T.C.A. RAGHAVAN'S CIRCLES OF FREEDOM FOLLOWS THREE YOUNG MUSLIMS DRAWN INTO THE FREEDOM STRUGGLE
The Razor's Edge
Salman Rushdie's Knife is an eloquent, first-person account of the horrific attack on him. It's also a love story
THE LAST-MILE PUSH
The India Today Smart Money Financial Summit had top experts discussing how technology could be leveraged to widen the reach of personal finance tools