Company: Sobha Developers
Wealth: 1.2 Billion
Kerala-born PNC Menon migrated to Oman in 1976, and started an interior decorating business with a partner. After spotting an opportunity in real estate in India, he established Sobha Developers in 1995, named after his wife.
Today, the firm is one of the largest and only backward integrated real estate players in India. In 2006, Menon listed the company’s shares on the Bombay Stock Exchange, which saw him propelled into the international spotlight and listed on the Forbes Rich List for the first time.
With more than 35 years of experience in the field of construction and real estate development, Menon has remained the firm’s chairman, while his wife sits on the board His son, Ravi, an engineer from Purdue University, is vice chairman.
As of March 2011, Sobha Developers had completed 71 residential projects and 191 contractual projects and currently has 23 residential projects and 38 contractual projects underway. Some of the firm’s landmark clients include Infosys, Taj Group, Dell, HP and Bosch.
Sobha Developers has also set up the Sobha Academy, which offers training in building and construction. It has received a number of awards and its future township projects are set to be designed in association with the Indian Green Building Council.
In 2009, Menon was awarded the Pravasi Bharatiya Samman Puraskar by the Indian president and he has also been named on the Prime Minister’s Advisory Council of Overseas Indians.