Meet man who lives in ‘Diamond House’, wealth increased by Rs 24700 crore in one year, his business is…

P Pitchi Reddy isn’t just one of India’s richest self-made billionaires, he is also one of the top wealth makers of the year. The Hyderabad-based business tycoon is the richest individual in the engineering and construction industry and added a whopping Rs 24,700 crore to his wealth in the year, according to 360 ONE Wealth Hurun India Rich List 2023. 

While staying true to his humble roots being a farmer’s son, Reddy has emerged as a flamboyant businessperson who lives in a palatial residence that has been specially designed to look like a massive, sparkling diamond. The house has become a modern landmark in Hyderabad popular as the ‘Diamond House’. Reddy even owns his own personal golf course. 

Born as the fifth child in a farming family, Reddy was never in a position to dream of becoming a billionaire with unimaginable wealth. However, he did have plenty of ambition which led him to start a small firm with just two people in 1989 named Megha Engineering Enterprises. He began by constructing small pipes for municipalities and grew his company to become a major player in heavy infrastructure projects like roads, dams, natural gas distribution networks and lift irrigation projects including India’s largest such project Kaleshwaram lift irrigation project at a monumental cost of $14 billion. 

PP Reddy was joined by his nephew PV Krishna Reddy in the business two years after its inception. He succeeded the founder as MD and today is the person in-charge of running Megha Engineering and Infrastructure Limited (MEIL). PP Reddy broke into India’s 100 richest people this year and today commands a net worth of Rs 37,300 crore.