Rs 100 In 1964 To Rs 11,500 Crore In 2023, Meet Real Estate Entrepreneur Subhash Runwal – News18

Real estate entrepreneur Subhash Runwal, who arrived in Mumbai with just Rs 100 in 1964, has now become a billionaire with a net worth of Rs 11,500 crore. Mumbai, known as the land of dreams, has witnessed remarkable success stories, one of which is the inspiring journey of Subhash Runwal. Through his sincere hard work, he has built a massive sea-facing empire near Shah Rukh Khan’s house in Mumbai.

Being considered one of the top real estate developers in the city, Subhash Runwal’s company Runwal Group plays an important role in helping middle-class people achieve their dream of owning their own house. As the chairperson of Runwal Group, he focuses on constructing shopping malls and affordable luxury apartments for families.

Subhash Runwal pursued his graduation in commerce from Pune and later moved to Mumbai in 1964 to realise his dream of becoming an accountant. After completing his studies in 1967, he received a job offer from Ernst & Young in the USA with a lucrative salary. However, he decided to return to India after a few months due to the indifferent culture and lifestyle abroad. Subsequently, he worked with a chemical company for 1.5 years before taking a significant risk in 1978 by venturing into the real estate business.

His first investment was in a 22-acre land, which was 10,000 sq ft in size, in Thane. He started constructing a housing society called Kirtikar Apartments on this property. This move brought him into the limelight as a developer in the low-cost housing segment. In 1981, he further expanded his ventures by building a 16-tower cluster. While he experimented with businesses in manufacturing steel and pharmaceutical products, they did not achieve the level of success he had hoped for.

Subhash Runwal eventually decided to focus solely on the property business and put all his efforts into strengthening it, which proved to be a successful move. When his two sons joined the business, they further expanded the company’s horizons and Runwal Group began building malls in addition to residential projects.

Their first Runwal Mall was inaugurated in 2002 by the legendary actor Amitabh Bachchan. They also established R-City Mall in Ghatkopar, covering an area of 1.2 million square feet. Runwal Company holds a significant market share in providing affordable properties to people.