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India's Richest 2019: Kaleshwaram Builder At 39th Spot!

By:  Tupaki Desk   |   20 Nov 2019 8:17 AM GMT
Indias Richest 2019: Kaleshwaram Builder At 39th Spot!
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PP Reddy of Megha Engineering & Infrastructures Ltd (MEIL) moved up to 39th Position from 47th in the India's Richest 2019 list. Thanks to the $14 billion Kaleshwaram Lift Irrigation Project!

Mr.Reddy's MEIL is constructing India's Biggest Lift Irrigation Project Kaleshwaram which is aimed at supplying 57 million cubic meters of water per day from the Godavari river. Its because of Kaleshwaram Project, The net profit of MEIL increased to 31 billion rupees for the financial year 2018-19. Increase in revenue generation by 23 percent (235 billion rupees), Net Worth of PP Reddy went up by 6 percent ($3.3 billion). In the Rich List, He managed to move up to 39th position from No.47.

The 62-Year-Old established MEIL in the year 1987 with an investment of Rs 1 lakh. In 1991, Even his Nephew PV Krishna Reddy entered into the same business. Now, These Two are acting as Chairman and Managing Director of MEIL. By now, MEIL has completed various projects not only in India, but also in Kuwait, Jordan and other nations. Recently, It entered into the European Market by buying an Italian Oil Rig Maker. MEIL is now one of the best engineering and construction companies in India.