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OCTOBER 22, 2006
 Cover Story
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The Building Boom
Is an asset price bubble building up in the real estate market? Flats in posh Mumbai areas sell at the rate of Rs 50,000-70,000 a sq. ft. and housing plots in Gurgaon are going for Rs 1 lakh a sq. yard. This may sound like music to those who have been clinging on to their assets, it portends danger to buyers. The high real estate prices keep the majority out of the housing market and make the dream of owning a house more distant.


The Learning Curve
India's investment in education-as a percentage of GDP-is lower than not just of countries in the West but also some of the emerging economies, including China. The percentage of population in the relevant age group enrolled in higher education too is the lowest among countries with which it must compete. Clearly, there is a need to scale up substantially the physical infrastructure and attract better faculty by offering market wages.
More Net Specials
Business Today,  October 8, 2006
 
 
Cars The Super Rich Drive

A random look at some of the wheels preferred by India's top CEOs.

Anil Ambani

TREADMILL

SIX STEPS TO STAY ACTIVE THIS WINTER

PRINTED CIRCUIT

BOOKEND

Chairman, Reliance Anil Dhirubhai Ambani Group
NET WORTH: $5.5 billion
FAV WHEELS: Lamborghini
Anil Ambani's passion for the good things in life is only too well-known. It comes as no surprise, therefore, that he's passionate about cars and also has an enviable collection of them. His regular weekday wheels is a black Mercedes 350. He also sometimes drives around in a Lexus SUV, with his driver in the passenger seat. But the car that takes one's breath away is the yellow Lamborghini (see file picture) that he uses on Sundays. The car is considered the ultimate in style, power and opulence. These are words that can be applied to Ambani as well.

Kumar Mangalam Birla
Chairman, Aditya Birla Group
NET WORTH: $4.4 billion
FAV WHEELS: BMW 5 Series
Kumar Mangalam Birla is among India's youngest corporate chieftains. He is known to be quiet, elegant, classy and understated. In other words, there's nothing flashy about him. Ditto with his car-an olive green BMW 5 series sedan (left) with a long wheelbase, lightweight alloy wheel rims and a lot of space for the driver and the passengers.

Sunil Bharti Mittal
Chairman and Managing Director, Bharti Airtel
NET WORTH: $4.9 billion
FAV WHEELS: SILVER MERCEDES S320
The dapper chairman of the Bharti Group currently drives around in a silver coloured Mercedes S320 (see file picture). He also has that ultimate value-addition: a sticker below the number plate says "Honorary Consul of Seychelles".

Shiv Nadar
Chairman and CEO, HCL Technologies
NET WORTH: $3 billion
FAV WHEELS: ROLLS ROYCE PHANTOM
Nadar has a bluish-grey Rolls Royce (see file picture) Phantom and a 10-year-old deep beige Mercedes 500 SEL. Nadar had set his heart on the Maybach, but "the roads here are too bumpy to enjoy a ride in a Maybach," says an aide.

Malvinder Singh
MD and CEO, Ranbaxy Labs, & Shivinder Singh, MD, Fortis Healthcare
NET WORTH: $1.55 billion
FAV WHEELS: MERCEDES S320
Malvinder Singh and Shivinder Singh have similar tastes in cars. Both brothers drive around in silver Mercedes S320s and both are now getting the Mercedes S350. The similarities don't end there. Both the new cars will be champagne-coloured and will be imported from Germany. The colour, apparently, was chosen by their wives. Malvinder loves to drive, but finds the Delhi traffic irritating. "But I drive on weekends when I go out with my family," he says. Incidentally, the Merc (left) that the elder Singh drives now belonged to their father, the late Parvinder Singh. "This car has immense emotional value for me," says Malvinder, adding: "I am going to keep it with me always."

Subhash Chandra
Chairman, Zee Telefilms
NET WORTH: $900 million
FAV WHEELS: MERCEDES VIANO 3.5
Subhash Chandra is very choosy about his cars and generally puts convenience and utility above anything else. His mode of conveyance today is the Mercedes Viano 3.5 (below), which he has customised it to his requirements. That includes, among other things, a Dish TV receiver and a plasma television set on which he keeps track of his own business and that of his competitors. Chandra has three Mercs in his garage.

Vivek C. Burman
Chairman, Dabur Group
Net worth: $1.1 billion
FAV WHEELS: MERCEDES KOMPRESSOR
Burman loves driving in style. His preferred mode of transport: his royal blue Mercedes Kompressor. His favourite: a Rolls Royce, a 1990 Silver Spirit, which, his aides say, he used for all his "post-work endeavours". He, however, sold the Rolls sometime back and now wants to go in for a Bentley. While he decides which model to buy, he has added a jet-black Mercedes S class to his fleet. Burman also owns a Mercedes sports car. The car, though an old one, is among Burman's favourite possessions.

Vijay Mallya
Chairman UB Group
Net worth: $950 million
FAV WHEELS: BENTLEY CONTINENTAL FLYING SPUR
Vijay Mallya has always lived life kingsize. Everything about him has a touch of class and flamboyance. Can the man's cars then be far behind? Not at all. Mallya's choice of wheels in Mumbai is the Bentley, which, it must be added, is only one among his massive collection of cars. The red sedan is a four seater and if looks could kill, this car would have several to its credit. The model is called the Continental Flying Spur (left) and costs Rs 3 crore. It is said to be appropriate for a business commute and also for an evening at the theatre. Mallya would like that for sure.

 

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