Shravan Gupta
NationalityIndian
Alma materShri Ram College of Commerce
OccupationMD & Chairman of MGF Group
SpouseShilpa Gupta[1]
Children2
Websiteshravangupta.com

Shravan Gupta (born 1973) is an Indian businessman, serving as the chairman of MGF Group.[2][3] He was previously a director at Emaar MGF Land.[4][5][6][7]

Early and personal life

Gupta has done his bachelor's degree in commerce from Shri Ram College of Commerce, University of Delhi.[8] He is married to Shilpa Gupta[1] and has two daughters with her.[8]

Career

After doing his B.Com from a college in Delhi, Shravan joined his family business,[8] namely Motor & General Finance Ltd. (MGF), a vehicle-finance/lending company which had been founded in 1930. He served as a Non-executive director of Motor & General Finance until 30 March 2007. In 1997, MGF diversified into real estate, when Shravan founded MGF Developments. The company created over 5 million square feet of mainly retail space (but also some commercial and residential space), building five shopping malls, including three in Gurgaon which are clustered together within a range of one Km (The Metropolitan, The Metropolis and The Megacity Mall), and one each in Delhi (City Square Mall) and Jaipur (MGF Metropolitan Mall).[9]

Joint Venture with Emaar

In 2006, Shravan's MGF Developments entered into a joint venture with Emaar Properties PJSC Dubai to invest in the Indian realty space.[10][9] The joint venture company, Emaar MGF, has invested about Rs.8,500 crore in the Indian real estate market, of which about Rs. 7000 crore (INR 70 billion/USD 1 billion) was brought in by Emaar, which represents the largest Foreign direct investment in India in the real estate sector.[11] Emaar and MGF announced that they were parting ways and that the joint venture would be divided vertically.[12] Two months later, Shravan resigned from his position as Executive Vice-Chairman & Managing Director of Emaar MGF.[10][13]

Other Sources

The NCLT later allowed the withdrawal of insolvency proceedings against Shravan Gupta’s real estate firm, after the company reached to a settlement with the homebuyers who had dragged the company to NCLT.[14]

References

  1. 1 2 Subramanian, N Sundaresha (28 December 2015). "Emaar MGF's Gupta family set to benefit from Dun Smart City". Business Standard.
  2. ↑ Yadav, Shyamlal (8 October 2021). "Pandora Papers: MGF's Shravan Gupta owned BVI firm, JV with Emaar got $2 million". The Indian Express. Retrieved 22 December 2022.
  3. ↑ "Emaar accuses MGF and Shravan Gupta of fraudulent and illegal transfers of land parcels". MoneyControl.
  4. ↑ "Shravan Gupta appears in CBI court". The Times of India. 24 August 2012.
  5. ↑ Nair, Shraddha (17 August 2010). "Gupta brothers of MGF Group split". Livemint.
  6. ↑ www.ETRealty.com. "Emaar MGF MD Shravan Gupta steps down - ET RealEstate". ETRealty.com. Retrieved 3 December 2020.
  7. ↑ "ED seizes Rs 102.8-mn assets from Emaar MGF MD Shravan Gupta under FEMA". Business Standard. 15 December 2018.
  8. 1 2 3 "Young Turks Season 2 Episode 22 Part 1 Spearheading The Retail & property development (MGF)". CNBC-TV18. 29 July 2013.
  9. 1 2 "MGF poised for the next phase of growth". Asian News International. 12 February 2019.
  10. 1 2 "Emaar MGF MD Shravan Gupta steps down". The Economic Times. 10 June 2016.
  11. ↑ "Emaar-MGF brings large FDI to India". Khaleej Times. 17 December 2005.
  12. ↑ Emaar to end decade-long JV with MGF.
  13. ↑ "Reaching for the sky in Dubai". The Times of India (New Delhi edition). 25 June 2007.
  14. ↑ Haidar, Faizan. "NCLT allows withdrawal of insolvency proceedings against MGF Developments". The Economic Times. Retrieved 20 December 2021.
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