Niranjan Hiranandani

Niranjan Hiranandani
Born (1950-03-08) 8 March 1950 (age 74)
Mumbai, Maharashtra, India
EducationChartered accountant
Alma mater
OccupationReal estate developer
Known forCo-founder and MD, Hiranandani Group
SpouseKamal Hiranandani
Children2
ParentLakhumal Hiranand Hiranandani
RelativesSurendra Hiranandani (brother)

Niranjan Hiranandani (born 8 March 1950) is an Indian billionaire businessman, co-founder and managing director of Hiranandani Group, engaged in real estate business. He is ranked by Forbes among the 100 richest Indians, with a net worth of US$1.6 billion as of June 2021.[1]

In 2020, he was in the Top 10 Indian real estate tycoons according to the Grohe Hurun report.[2][3] In 2020, he was the second richest person in the Real estate Sector as per the IIFL Wealth Hurun India Rich List (2020).[4][5] Along with members of his family, Hiranandani controls the privately owned Hiranandani Group.

Early life and education

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Hiranandani was born in Mumbai. The Hiranandani family is of Sindhi heritage.[6] His father was Lakhumal Hiranand Hiranandani, an ENT surgeon and a recipient of the Government of India's Padma Bhushan award.[7][8] Hiranandani's elder brother is named Navin,[9] and his younger brother is Surendra.[10] Hiranandani finished schooling from Campion School, Mumbai and has a bachelor's degree in commerce from Sydenham College in Mumbai.[11] He is a chartered accountant of the Institute of Chartered Accountants of India.[12]

Career

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Hiranandani started his career as an accounting teacher.[13] In 1981 he started his first business, a textile weaving unit in Kandivali, Mumbai.[14][15]

Along with his brother Surendra, he bought 250 acres land in Powai, Mumbai in 1985 and started a real estate business under the name Hiranandani Gardens.[16] Hiranandani Constructions is working on revamping and launching two townships that the developer acquired through a court auction for nearly ₹1,000 crore.[17] Hiranandani Estate is a township built in Thane, a part of the Mumbai Metropolitan Region in Maharashtra.[18] Hiranandani Hospital was started in Powai in 2006 and Thane in 2011.[19]

He is the Founder Chairman of Yotta Infrastructure and have launched the world's second largest data center, NM1 in its Integrated Yotta Data Center Park at Navi Mumbai.[20][21][22]

In October 2021, Hiranandani was named in the Pandora Papers. He is alleged to have hidden $60 million in several offshore trusts.[23] Hiranandani claimed that the money stored in the offshore account in the British Virgin Islands belongs to his son Darshan Hiranandani who stays in Dubai.[24]

Associations

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Hiranandani is on board of 17 schools, including the Hiranandani Foundation School in Powai and Thane.[25]

Hiranandani is the past president of the Maharashtra Chambers of Housing Industry;[26] Chairman of Mumbai City, Development and Environment Committee of the Indian Merchants Chambers (I.M.C.) Mumbai,[27]

He is also the President of an association by the name of National Real Estate Development Council (NAREDCO).[28] formed under the aegis of the Government of India, Ministry of Housing and Urban Affairs, for promoting transparency and ethics in the real estate business and for transforming the unorganized Indian real estate sector into a globally competitive business sector.[28][29]

He is the past President of a 100 year old trade association of India the "Associated Chambers of Commerce and Industry of India" ASSOCHAM.[30][31] Established for shaping the Trade Commerce and Industrial Environment of the Country.[32] ASSOCHAM is a member of International Chamber of Commerce.

Member of the task force of the Government of India for reforms in housing and urban development[33] and Member of the study group Slum Rehabilitation Scheme, Government of Maharashtra.

Hiranandani was the adviser to the Government of India on housing and habitat policy and real estate president of the Federation of Indian Chambers of Commerce and Industry (FICCI).[34]

Hiranandani is the chairperson on the Priyadarshni Academy which facilitates for social and cultural work.[35]

He is on Board of Trustees – Nathdwara Temple Board, Nathdwara (Rajasthan), Babulnath temple, Jhulelal temple.[36]

He is the President of the Hyderabad (Sind) National Collegiate Board, which manages 22 educational institutions including secondary and higher secondary schools, polytechnics, and degree and post-graduate colleges.[37]

He is also the former Chairman of Advisory Council of Confederation of Real Estate Developers’ Association of India (CREDAI).[38]

He is also a part of the Board of Advisors of IIMUN.[39]

He also played an instrumental role in the formation of the newly formed cluster university called HSNC University, Mumbai. This varsity, although is State-owned but will be operated & administered by the H(S)NC Board, one of Indian's oldest educational trusts of which he has previously served as president. He will be affiliated with the same in the future as well, while working in the capacity of the institute's "Provost". This cluster university will also include prestigious Institutions such as K.C. College and H.R. College.[40][41][42]

Personal life

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Niranjan is married to Kamal Hiranandani[43] and has two children: a daughter, Priya, and a son, Darshan.[44] Priya is married to Cyrus Vandrevala,[45] a London-based businessman.[46] Darshan is married to Neha Jhalani, daughter of Delhi-based businessman Pradeep Jhalani and his wife Shabnam Jhalani.[47][48]

See also

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References

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  1. ^ "Forbes profile: Niranjan Hiranandani". Forbes. Retrieved 30 June 2021.
  2. ^ "Who are India's richest property tycoons?". Black Book. 9 October 2017. Retrieved 30 November 2017.
  3. ^ "Hurun Report - Info - Hurun India Real Estate Rich List 2020". www.hurun.net. Retrieved 9 April 2021.
  4. ^ "IIFL WEALTH HURUN INDIA RICH LIST 2020". hurun-india. Retrieved 3 December 2020.
  5. ^ "IIFL Wealth Hurun India Rich List 2020: DLF's Rajiv Singh secures top spot among real estate developers". Moneycontrol. 29 September 2020. Retrieved 3 December 2020.
  6. ^ Palijo, Waseem (8 January 2019). "Most billionaires in India today once resided in Pakistan's Sindh". Daily Times. Archived from the original on 7 May 2020. Retrieved 7 May 2020.
  7. ^ "Renowned ENT surgeon Dr L H Hiranandani dies". Mumbai Mirror. 6 September 2013. Retrieved 28 March 2016.
  8. ^ "Bio - Lakhumal Hiranand Hiranandani". In.com. Archived from the original on 7 April 2016. Retrieved 28 March 2016.
  9. ^ "Death in tycoon family". The Telegraph (Calcutta). 8 July 2006. Archived from the original on 25 February 2007. Retrieved 28 March 2016.
  10. ^ "Surendra Hiranandani". Forbes. Retrieved 28 March 2016.
  11. ^ Ved, Yash. "Leader Speak". India Infoline. Retrieved 28 March 2016.
  12. ^ "YOU HAVE TO BE WORLD- CLASS". The Free Press Journal. 10 July 2013. Retrieved 28 March 2016.
  13. ^ Shah, Mitali (24 March 2010). "Boom time for affordable housing". Construction Week. Retrieved 28 March 2016.
  14. ^ "Niranjan Hiranandani Managing Director, Hiranandani Group". NBMCW. October 2012. Retrieved 28 March 2016.
  15. ^ "Niranjan Hiranandani : Managing Director Hiranandani Group Of Companies". Admodito. Retrieved 9 March 2015.
  16. ^ "Row House". Outlook Business. Retrieved 9 March 2015.
  17. ^ "Hiranandani Constructions to develop realty project in Ahmedabad". India Infoline. India Infoline News Service. 9 January 2015. Retrieved 28 March 2016.
  18. ^ Babar, Kailash (4 September 2015). "TCS close to country's 'largest' office space deal". The Economic Times. Retrieved 28 March 2016.
  19. ^ "Hiranandani Group bags the Top Real Estate Developers Awards by Bloomberg TV". The Free Press Journal. 14 October 2014. Retrieved 28 March 2016.
  20. ^ "Hurun Report - Info - Hurun India Real Estate Rich List 2020". www.hurun.net. Retrieved 9 April 2021.
  21. ^ Ahaskar, Abhijit (7 July 2020). "Yotta inaugurates large data centre with 7,000 racks at Panvel". mint. Retrieved 9 April 2021.
  22. ^ "Yotta invests $950 million in 20-acre data center park in Greater Noida - W.Media". W.Media. 29 October 2020. Retrieved 9 April 2021.
  23. ^ "Mumbai real estate major Hiranandani: Link to BVI, trust with $60 million in assets". The Indian Express. 6 October 2021. Retrieved 6 October 2021.
  24. ^ "'It's not my money,' says billionaire Niranjan Hiranandani about the offshore account in British Virgin Islands". Business Insider. 7 October 2021.
  25. ^ Mukherji, Anahita (4 April 2009). "Kids to benefit as IIT coaching classes". The Times of India. Retrieved 28 March 2016.
  26. ^ Bharucha, Nauzer (17 November 2015). "Prominent city developers move away from MCHI". The Times of India. TNN. Retrieved 28 March 2016.
  27. ^ "Niranjan Hiranandani". Bloomberg. Retrieved 9 March 2015.
  28. ^ a b "National Real Estate Development Council - About Us - Structure of NAREDCO". www.naredco.in. Retrieved 3 December 2020.
  29. ^ "NAREDCO elects Niranjan Hiranandani as new president". The Economic Times. Retrieved 3 December 2020.
  30. ^ "Assocham India :: Leadership". www.assocham.org. Retrieved 3 December 2020.
  31. ^ "Niranjan Hiranandani takes over as Assocham president". Business Standard India. Press Trust of India. 23 December 2019. Retrieved 3 December 2020.
  32. ^ "Assocham India :: About Us". www.assocham.org. Retrieved 3 December 2020.
  33. ^ "Executive Profile - Niranjan Hiranandani". Bloomberg. Retrieved 28 March 2016.
  34. ^ "Niranjan Hiranandani takes over as President - IMC". India Infoline. India Infoline News Service. Retrieved 28 March 2016.
  35. ^ "Priyadarshni Academy felicitates Priyanka Chopra". Daily News and Analysis. 20 September 2014. Retrieved 28 March 2016.
  36. ^ Wajihuddin, Mohammed (25 February 2015). "Sindhis to get a shrine they can call their own in Kutch". The Times of India. Retrieved 28 March 2016.
  37. ^ "Make India World Leader in Education like in Ancient Times: President". The New Indian Express. IANS. 28 March 2015. Archived from the original on 9 April 2016. Retrieved 28 March 2016.
  38. ^ "FIPB locks real estate investment for 3 years". The Indian Express. 30 March 2009. Retrieved 28 March 2016.
  39. ^ "IIMUN". www.iimun.in. Retrieved 6 February 2018.
  40. ^ "HSNC University Mumbai | About it". HSNCU Mumbai official website.
  41. ^ "HSNC University, Mumbai Announced Academic Partnership With Pennsylvania State System of Higher Education, USA in a Virtual Ceremony". www.businesswireindia.com. Retrieved 17 August 2020.
  42. ^ "HSNC University welcomes, lauds the National Education Policy 2020 - The Economic Times". The Economic Times. Retrieved 17 August 2020.
  43. ^ "After a point, money becomes meaningless, says Niranjan Hiranandani". DNA India. Retrieved 9 March 2015.
  44. ^ "In knots over family & legal wrangles". Business and Economy. Archived from the original on 23 September 2015. Retrieved 9 March 2015.
  45. ^ "Hiranandani real estate heiress fights dad, brother for share of Rs 3,000 cr fortune". The Hindustan Times. Archived from the original on 24 February 2014. Retrieved 9 March 2015.
  46. ^ "Niranjan Hiranandani files suit in Bombay HC against daughter, seeks Rs 50 cr". The Financial Express. Retrieved 9 March 2015.
  47. ^ Saxena, Aditi (22 February 2016). "All in a name: The mystery behind the mix-up in the inboxes of Neha Hiranandani & Neha Hiranandani". The Economic Times. Retrieved 21 February 2018.
  48. ^ "High society shakes a leg - Times of India". The Times of India. 19 March 2009. Retrieved 21 February 2018.
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