Meet the Billionaire who purchased 1500 crore House from Mukesh Ambani.

By, Harshadkr. Arun Salve
Arvind Poddar is one of the richest men in India. He and his family control Balkrishna Industries. He was appointed as Chairman & Managing Director of the Balkrishna Industries Limited for a period of Five years with effect from 1st August, 2016 to 31st July, 20212l. His son Rajiv is married to Manoj Modi’s daughter. Manoj Modi came to limelight after his boss Mukesh Ambani gifted him a house worth Rs 1500 crore as a gift from his boss. The house has 22 storeys. The land rate of the area is around Rs 70000 per square feet.

About Balkrishna Industries: Balkrishna Industries Limited (BKT) is an Indian multinational tyre manufacturing company based in Mumbai, India. Balkrishna Industries manufactures off-highway tyres used in specialist segments like mining, earthmoving, agriculture, and gardening in five factories located in Aurangabad, Bhiwadi, Chopanki, Dombivali, and Bhuj.

History of Balkrishna Industries: Balkrishna Industries Ltd was incorporated on November 20, 1961. The company began operations in the year 1987 with the inauguration of its first off-highway tyre manufacturing facility in Aurangabad. Subsequent growth in business allowed the company to open new facilities in Bhiwandi (2002) and Chopanaki (2006).

Current Status of Balkrishna Industries: The current market price of Balkrishna Industries is Rs 1967.35. Balkrishna Industries Ltd is in the Tyres sector and has a market capitalization worth Rs. 43,927.42 crores. The company has reported a Consolidated Total Income of Rs 2884.17 Crore for the quarter ended 30-09-2022.

Future of Balkrishna Industries : Balkrishna Industries is forecasted to grow earnings and revenue by 20.8% and 5.3% per annum respectively. EPS and ROE are also expected to grow by 20.8% and 18.3% per year respectively¹. Based on forecasts, a long-term increase is expected in the stock price. Analyst coverage for Balkrishna Industries stock is good.

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