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Last Updated : Jun 24, 2020 05:32 PM IST | Source: Moneycontrol.com

The rise and rise of Hinduja brothers: A look at the evolution of the conglomerate group

Their business conglomerate, based in Mumbai and headquartered in London, covers a wide range of sectors including automotive, hospitality, banking and healthcare.

The four Hinduja brothers are at present locked in a dispute over the family's fortune. At the centre of the battle for billions that is unravelling in a UK court is a letter from 2014 signed by the brothers that declares that the brothers appoint each other as executors and that assets in any ones' names belong to all four.

Billions of pounds on paper: Hinduja brothers take dispute over letter 'dividing' family assets to UK court

According to the 2020 'Sunday Times Rich List', the Hinduja brothers, who run the Hinduja Group of companies, have an estimated fortune of 16 billion pounds. Their business conglomerate, based in Mumbai and headquartered in London, covers a wide range of sectors including automotive, hospitality, banking and healthcare.

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The seeds of the Hinduja Group empire were sown over a century ago by Parmanand Deepchand Hinduja, a young entrepreneur from the business town of Shikarpur in Sindh (now in Pakistan). The family legacy began with PD Hinduja's travel to the city of Bombay (now Mumbai) in 1914, where he quickly learnt the tricks of the trade.

Merchant banking and trade-- these were the two areas in which the group's business first began. Its entry into the international business arena was marked by the setting up of an office, the first one outside India, in Iran in 1919. The group had its headquarters in Iran until 1979, after which it moved to Europe and is now headquartered in London. It diversified its businesses in the fields of automotive, information technology, media, entertainment and communications, infrastructure project, development, oil and specialty chemicals, power, real estate and healthcare, among others.

Today, it has offices in major cities spanning all continents across the globe and employs over 150,000 people.

PD Hinduja's four sons- Srichand P Hinduja, Gopichand P Hinduja, Prakash P Hinduja and Ashok P Hinduja-- now own and run different parts of the group businesses. Srichand, the family patriarch, is the current head of the family and Chairman of the Hinduja Group.

Also Read | Hinduja brothers locked in dispute: Here's a look at the family's history

The group's name and its businesses flourish in different fields. Some of the highly successful companies under the legacy name are Ashok Leyland, Hinduja Foundries Ltd, Hinduja Bank (Switzerland) Ltd, IndusInd Bank, Hinduja Leyland Finance Ltd, Hinduja Global Solutions Ltd, among others.

The Hinduja brothers own valuable real estate in London, including the historic Old War Office building in Whitehall, which will house a Raffles Hotel. The Carlton House Terrace, a sprawling mansion located in the heart of London's Westminster neighborhood near Buckingham Palace, is also owned by the family.
First Published on Jun 24, 2020 05:32 pm
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