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BUSINESS
Success stories are easy to write. But to become their protagonist takes a whole lot of courage and hard work. Such undying courage and effort is evident in the story of PNC Menon. Read about him here.
Success stories are easy to write. But to become their protagonist takes a whole lot of courage and hard work. Such undying courage and effort is evident in the story of PNC Menon. Menon lost his father when he was just 10 and had to taken on family responsibilities early on. He faced financial constraints and could not attain much formal education, even having to drop out of college before completing his BCom degree. Here's his story.
Personal life
Menon, whose full name is Puthan Naduvakkatt Chenthamaraksha Menon, was born in 1948 in Palakkad, Kerala. He is married to Sobha Menon, after whom his business is named. The couple has three children -- daughters Bindu and Revathi and son Ravi PNC Menon.
Business and philanthropy
Menon moved to Oman in 1976 at the age of 26 with as little as Rs 50 in his pocket. There, he started and built a successful interior decoration business. Menon eventually expanded his Sobha Group into construction and real estate, operating in several Gulf countries including Oman, Qatar, Bahrain, Brunei, and the United Arab Emirates (UAE).
In 1995, Menon established Sobha Developers Limited in Bengaluru. The company, listed on the Bombay Stock Exchange (BSE) in 2006, is known for building several top projects across the country. Menon's son, Ravi, serves as the company's current chairman while Menon is the chairman emeritus. Menon is also renowned for several philanthropic ventures such as Sri Kurumba Educational & Charitable Trust, founded in 1994. Besides, he has joined The Giving Pledge nonprofit with his wife Sobha, committing to donate at least half of their wealth.
Net worth
Menon has an estimated net worth of USD 3.4 billion or nearly Rs 29,000 crore, according to Forbes, ranking him among the richest people in both Oman and India. He was conferred the Pravasi Bharatiya Samman (Overseas Indian award) by the President of India in 2009.