PP Reddy, an engineer and construction magnate, is among India's wealthiest individuals. According to Forbes, his net worth stands at Rs 16,591 crore. According to the 360 Wealth Hurun India Rich List 2023, he is the wealthiest person in the engineering and construction industries. If you think that PP Reddy inherited his business, you are mistaken. Reddy was born into an ordinary farming family and is their fifth child.
Reddy's family had no business connections. However, in 1989, Reddy decided to venture into something different and laid the foundation of Megha Engineering Enterprises with two employees. Over the last 34 years, Reddy's company has grown exponentially and has been listed among India's richest business tycoons. As of February 13, 2024, Megha Engineering and Infrastructure (MEIL) has a market value of Rs 67,500 crore. In 2023, MEIL's growth was 22.1 per cent.
Starting with small pipes, the company moved on to build India's largest lift irrigation project. The company, which originally made small pipes, moved on to construct roads, dams, and natural gas distribution networks, as well as lift irrigation projects. The company has since established itself as a major player in the construction of large infrastructure projects.
PP Reddy's company has built India's largest lift irrigation project. The company constructed the Kalleshwaram Lift Irrigation Project in Telangana for $14 billion. The project, built on the Godavari River, irrigates 18.26 lakh acres of land in 13 districts. PP Reddy calls the Kalleshwaram project 'The Expansion of the River.'
Reddy lives in a luxurious mansion in Hyderabad. It is called the Diamond House and shines like a diamond. Reddy also has a private golf course.
