Shravan Gupta

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]

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

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. 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. "Young Turks Season 2 Episode 22 Part 1 Spearheading The Retail & property development (MGF)". CNBC-TV18. 29 July 2013.
  9. "MGF poised for the next phase of growth". Asian News International. 12 February 2019.
  10. "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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