Shah Rukh’s less well-known but equally successful neighbour has a success story similar to Shah Rukh’s in that he arrived in Mumbai with barely Rs 100 and went on to establish a business empire worth thousands of billions.
Mumbai, the financial hub of India, is a place of opportunity where individuals from all across the nation have penned incredible success tales. One such example of an outsider rising to the top of the field without support is the Bollywood celebrity. One of SRK’s famous neighbours has a similar success story. He arrived in the city with barely Rs 100 and quickly established a sizable business empire. Now a millionaire, Subhash Runwal is far wealthier than his well-known neighbour.
Who is Subhash Runwal?
Runwal, who is now 80, is one of the city’s leading developers and is renowned for assisting middle-class families in realising their goal of home ownership. He serves as the chairman of the Runwal Group, which develops several commercial centres and residences ranging from modest to opulent.
A little village in Maharashtra by the name of Dhulia is where the tale of Runwal begins. He witnessed his parents’ financial struggles as a child. In 1964, a 21-year-old Runwal travelled for Mumbai with barely Rs. 100 in his pocket, his hopes of becoming an accountant, and a commerce degree from Pune. In 1967, he graduated as a CA and accepted a position with Ernst & Ernst. He was given a well-paying position in the US, but he returned to India shortly after since he did not like the way of life there. He then worked for a chemical firm, but in 1978 he made the decision to go it alone and put all of his money into real estate.
His first property was 22 acres in Thane, and his first project was Kirtikar Apartments, a 10,000 square foot housing society. He rose to prominence in the market for affordable homes. He constructed the 16 tower cluster of the iconic Runwal Nagar in 1981. He later ventured into the steel and pharmaceutical industries, but those ventures did not enjoy the same level of success.
Nevertheless, the real estate industry continued to grow. After his two MBA sons joined the company, The Runwal Group entered the mall business. In 2002, Amitabh Bachchan, a giant in the world of Bollywood, cut the ribbon to officially open the first R Mall in Mulund. The 1.2 million square foot RCity Mall in Ghatkopar was constructed with funding from a Singapore government company.
Runwal first resided in a leased “one room-kitchen” in Mumbai’s Kurla district. Then he moved into a larger flat in Deonar after living in a two-bedroom one in Ghatkopar. His six-acre Runwal Estate in Pune is now his property. Near Shah Rukh Khan’s Mannat, Subhash Runwal currently resides in a home with a view of the ocean. He now has a net worth of $1.4 billion, or approximately Rs 11,500 crore.
