50 Richest Indians in the GCC
Sun 10 Feb 2013 04:48 AM
Raghuvinder Kataria
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Raghuvinder Kataria

Industry: Telecoms

Company: Kataria Holdings

Designation: Chairman

It is unlikely you will bump into Ragu Kataria. The billionaire businessman keeps a low profile, working out of his home in Emirates Hills. But that doesn’t mean he isn’t doing big deals. Back in June 2009,  he quietly acquired two buildings in Emaar Square — including Building 5, which houses the Dubai headquarters of HSBC, and Building 3 — for a total purchase value of approximately AED750m ($204.15m). The value of that AED750m investment has increased by over 40 percent in the past three years.Early in his professional career, he led the formation of   JT Telecom — a joint venture between Telia of Sweden and Thailand-based Jasmine Telecom — that pioneered mobile telephony in India. That JV company later merged with Sunil Mittal’s Bharti Enterprises to provide coverage across the world’s second-most populous nation.

Today, Bharti Airtel is the number one provider in India and the third-largest in-country mobile operator in the world. As the driving force behind the launch and subsequent privatisation of mobile services in the country, Kataria remains a founding shareholder in that company — which now serves nearly 250 million subscribers across the globe.

In addition to property investments in Dubai, Kataria also owns a wide range of real estate assets in both India and Europe. He is also a major investor in the financial services sector, with strategic stakes in firms such as Dhanalaxmi Bank and Destimoney, a brokerage firm in India.

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