Mallikarjuna Rao: Scorecard is quite impressive

For 55-year-old Grandhi Mallikarjuna Rao, Diwali came a few weeks late this year. On November 8, the Supreme Court upheld the Centre's decision to award the Delhi Airport modernisation project to his group while dismissing a petition filed by the Anil Dhirubhai Ambani Group in this regard. Earlier, his little-known, eponymous GMR Group, had stunned India Inc by winning the contract for modernising the Delhi airport. His scorecard is impressive-he has two international airport projects (Delhi and Hyderabad) under his belt, generates 800 MW of power (GMR Energy) and is building half a dozen road projects including Ambala-Chandigarh in the North and Tambaram-Tindivanam in the South. Besides, he has interests in sugar, jute and ferro-alloys and boasts a total asset base of Rs 15,000 crore. The small-time jute trader from Srikakulam in Andhra Pradesh, who started life as an engineer in the state's PWD, has come a long way. "My vision is to make GMR the leading player in the infrastructure space in India," says Rao.

It is easy to understand why many opponents underestimate him. He's quiet, not very articulate and conservative. But people who judge books by their covers are wont to overlook a razor sharp brain that sees opportunity where others don't. The man also has his little quirks. He talks passionately about his gurus-Sri Sri Ravishankar and Swami Sukhbodananda-and presents first-time visitors to his office with CDs of their teachings. He also leaves the day-to-day running of his empire to his sons G.B.S. Raju and Kiran Kurmar Grandhi as well as son-in-law Srinivasa Bommidala. But don't let that fool you. The man remains very much in charge of the business he has built from scratch.

-Venkatesha Babu

NUMBERS OF NOTE

220: The number of malls India is expected to have by 2007, up from a mere 30 in 2003

68 per cent: The share of Mumbai, Delhi, Chennai, Kolkata, Bangalore and Hyderabad in India's total organised retail market

$1.3 million (Rs 5.85 crore): The amount for which TCS has acquired TCS Management, a privately-owned consulting company in Australia

90 per cent: The contribution of India's urban population to government revenues

$50,000 (Rs 22.5 lakh): The permissible overseas remittance limit for resident Indians per financial year, up from $25,000

$3.2 billion (Rs 14,400 crore): The increased limit for FII investments in government securities, up from $2 billion (Rs 9,000 crore)

$48 billion (Rs 2,16,000 crore): What financial systems reforms, and further economic liberalisation, can add every year to India's gross domestic product

Rs 150-200 crore: The amount the three-day bandh by traders in the Capital (Oct. 30-Nov. 1, 2006) is estimated to have cost the exchequer

Rs 2,91,206 crore: The total assets under management of the domestic MF industry as on September 30, 2006

16.9 per cent: Projected growth of technology spending by SMEs in India in 2007, the highest in the Asia-Pacific region

100 million-plus: Total number of websites on the internet, according to a survey by the internet research firm Netcraft

130 million litres: The estimated use of ethanol in India in 2006

Rs 26,000: India's current annual urban per capita income

7 lakh cases: The current size of the domestic wine market in India. Over the next 5 years, this is likely to grow to 28 lakh cases to be Precise

NOTED

ANNOUNCED: By ITC, a deal with Sachin Tendulkar to co-create a line of energy foods called Sachin's Fit Kit. The range, to be launched in a couple of months, is likely to include energy bars, fortified cookies and vitamin-enriched pasta. The contract tenure will extend beyond three years.

RANKED: By Transparency International, India at #70, out of 163 nations, on its Corruption Perception Index (CPI). Last year, India stood at #88 in the Berlin-based anti-corruption watchdog's report. This is the first time it has reversed its downward slide on the CPI. Iraq, Myanmar and Haiti are percieved as most corrupt in the latest report (released on November 6), Finland, Iceland and New Zealand are seen as the cleanest.

RECORDED: By the country's industrial sector, a production growth rate of 11.4 per cent in September 2006. The surge was due to the growth of 12 per cent and 11.3 per cent, respectively, recorded by the manufacturing and electricity sectors. In the first half of this year, the Index of Industrial Production has grown by 10.9 per cent compared to the same period of 2005-06.

INTRODUCED: By Research in Motion, the company that manufactures Blackberry phones, the Blackberry Pearl in India. The device has a digital camera, multimedia capabilities, a phone and an organizer. The company currently has tie-ups with Bharti and Hutch for its phones. The Pearl costs Rs 24,990.

REPORTED: By India's automobile industry, double-digit growth in October. Passenger car sales were up 16.3 per cent while motorcycle sales clocked a growth of 13.15 per cent. If multi-utility vehicles are added to passenger cars, the overall growth rate falls marginally to 14.5 per cent.

LAUNCHED: By Bajaj Auto, its Pulsar bike in Indonesia. The streets of Jakarata, Surabaya and Bali are already full of Bajaj three-wheelers, so it was only a matter of time before this happened. According to Sanjiv Bajaj, Executive Director of the company, this move will propel Bajaj Auto into the league of the world's three largest two-wheeler companies.

BRELIANCE STALKING BP'S BELGIAN UNIT

Reliance has now jumped into the global M&A ring. It has reportedly placed a bid of $2.5 billion (Rs 11,250 crore) for BP's petrochemical unit and secondary refinery in Belgium. Details on the petrochemical unit, however, are not available at this juncture. Over the last two years, BP has been actively divesting its petrochemical businesses across the world. Reliance has been in talks with BP for over a year, even as margins in the business, which witnesses cyclical behaviour without missing a beat, continue to remain firm. According to analysts, it is premature to comment on Reliance's move. "It all depends on the acquisition price and the plant capacity," says a Mumbai-based analyst. Reliance officials refused to comment on the deal.

-Balaji Chandramouli

MEN'S HEALTH LAUNCHED

Men's Health launch: India Today Group's Editor-in-Chief Aroon Purie; John Abraham; and Editor Jamal Shaikh

The Indian edition of men's health, the world's largest men's magazine, was launched in India on November 9 by Bollywood heart-throb John Abraham, India Today Editor-in-Chief Aroon Purie and Men's Health Editor Jamal Shaikh in a glittering ceremony at the JW Marriott, Mumbai. Speaking on the occasion, Purie said: "Somebody like John Abraham does not need this magazine. But someone who wants to be like John Abraham will definitely need it."

The jam-packed function drew Bollywood stars like Gul Panag, Kim Sharma, Koel Purie, Gulshan Grover and Pooja Bedi. Men's Health, which has a worldwide readership of over 20 million readers across 43 countries, will address issues like health, fitness, nutrition, sex, relationships, style, gadgets and gizmos. With a tag line 'The Magazine Men Live By', the magazine is positioned as a contemporary lifestyle magazine, and will be aimed at successful, professional men. Priced at Rs 50 per issue, Men's Health will have an initial print run of 50,000 copies.

-T.V. Mahalingam