Latest news with #LuluGroup
India.com
a day ago
- Business
- India.com
These are the 5 richest Muslim families in India, know how much money they have?, they are...
These are the 5 richest Muslim families in India, know how much money they have?, they are... In India, there are many Muslim families, but today we will be talking about the ones that are the richest, and have a great inspirational tale to tell. Due to their diligence and commercial acumen, there are many Muslim households in the country that enjoy great financial success. They have made their mark not only domestically, but internationally as well. Here is a bit more about five of the wealthiest Muslim families of India today: 1. Azim Premji A man known for his daring and fortune, he is one of the most prosperous Indian Muslim businessman. He is the founder and chairman of Wipro Limited, a well- known IT company. Premji is also known for his charitable work, as a significant portion of his massive fortune has been contributed to charitable causes, particularly education. According to the Hurun India Philanthropy List, he has donated around Rs 9,713 crore till date, and Forbes estimates him to be worth around $12.2 billion USD. If seen on a daily basis, he has donated around Rs 27 crore every day. 2. M.A. Yusuf Ali Family (Lulu Group) M.A. Yusuf Ali is the managing director of Lulu Group international. He was born in Kerala and found his business in Abu Dhabi. He has a vast network of retail centres and hypermarkets throughout the Middle East, India, and other countries as well. , According to Forbes, Yusuf Ali, also known as the 'Middle East Retail King', is worth roughly $7.4 billion (about Rs 65,150 crore) and has constructed sizable shopping centres in Kerala, India, which offer commercial and job prospects. 3. Yousuf Hameed Yousuf Hameed is not only a renowned scientist and businessman, but also the owner of Cipla Pharmaceuticals, one of India's top pharmaceutical firms. Apart from that, he has helped create reasonably priced medications, especially for the treatment of HIV/AIDS. His worth is estimated to be around $2.6 billion (about Rs 21,000 crore). Cipla pharmaceuticals are very well known in India, and their headquarters in Mumbai. In 2005 Yousuf Hameed was awarded with the Padma Bhushan from the Indian Government. 4. Rafiq Malik Chairman of Metro Brands Limited and a well-known businessman, Rafiq Malik is known for brands like Metro, Mochi, Walkway, Da Vince and Fitflop . His company, Metro Shoes is a prominent ladies footwear retail chain in India. Forbes estimates Rafiq's net worth to be around $2.1 billion dollars, or around 17,160 crore. He was the 89th richest person in India in 2022, and 1,434th on Forbes' list of billionaires in 2023. 5. Dr. Azad Moopen Dr. Azad Moopen is a Doctor and Entrepreneur from India residing in Dubai. He was born in Kalpakancheri , Kerala, in 1953. After graduating from Calicut Medical College with an MBBS and an MD, he also received a gold medal in his career. His life changed course in 1987 when he travelled to Dubai for a unique assignment. He is an Indian healthcare entrepreneur. He is the developer of many healthcare facilities in Asia-Pacific. He is also the chairman and managing director of Aster DM Healthcare, a healthcare conglomerate in the Middle East and India founded in 1987. Forbes says Dr. Azad Moopen has a net worth of around $1 billion USD, around Rs 8600 crores. As a result, he is among the wealthiest Indians in the United Arab Emirates
New Indian Express
a day ago
- Business
- New Indian Express
Andhra govt allots APSRTC land to Lulu, unions oppose GO 137
VIJAYAWADA: The Andhra Pradesh government has allotted prime land in Vijayawada and Visakhapatnam to Lulu International Shopping Mall Pvt Ltd for constructing shopping malls, sparking strong opposition from RTC employees' unions and other organisations. The Industries and Commerce (Infra) Department has released Government Order No. 137, leasing 13.74 acres at Harbour Park in Visakhapatnam, and 4.15 acres of APSRTC Governorpet-II bus depot land in Vijayawada to Lulu Group for 99 years, with a three-year rent-free period or until the malls open, whichever is earlier. The lease amount will be increased by 10% every decade. The lands will be transferred to the AP Industrial Infrastructure Corporation, which will oversee their handover to Lulu Group. Unions flag operational & environmental issues In Visakhapatnam, Lulu plans to invest Rs 1,066 crore to build a G+3 shopping mall with 13.50 lakh square feet, including 6 lakh square feet for parking 2,000 vehicles, anchor shops, and leasable retail spaces. In Vijayawada, the Rs 156 crore project includes a G+3 mall spanning 2.32 lakh square feet, accommodating 200 vehicles and 120 retail shops. The proposal, aligned with the Andhra Pradesh Tourism Land Allotment Policy 2024-29, was approved by the State Investment Promotion Board (SIPB) on July 17, following recommendations from the State Investment Promotion Committee (SIPC). The government believes the project will boost investor confidence and policy continuity.
The Hindu
2 days ago
- Business
- The Hindu
CPI(M) demands scrapping of G.O. 137 allotting land to Lulu Group in Andhra Pradesh
The Andhra Pradesh State Committee of the Communist Party of India (Marxist) has strongly opposed Government Order (G.O.) 137, which allots valuable government and APSRTC land to the multinational conglomerate Lulu Group. In a statement issued on Monday, CPI(M) State Secretary V. Srinivasa Rao demanded the immediate cancellation of the G.O., calling it a threat to small and medium businesses and employment in the State. He said the G.O. facilitates the allotment of 13.83 acres of prime government land in Visakhapatnam and 4.15 acres of APSRTC land in Vijayawada to the Lulu Group for commercial development, including the construction of a Lulu Mall. 'The government, which is supposed to protect public sector assets, is now surrendering them to corporate entities under the guise of development,' Mr. Srinivasa Rao alleged. He took strong objection to the 99-year lease granted on nominal terms, describing it as virtually handing over the land for free. He warned that the entry of large multinational retail firms like Lulu would deal a severe blow to small and medium-scale traders, many of whom are already struggling. 'The retail sector is already reeling from the entry of corporate giants. Encouraging such firms will lead to massive job losses and the closure of local businesses,' he said. Mr. Srinivasa Rao urged the State government to reconsider its decision, revoke G.O. 137, protect public assets, and take proactive steps to support small and medium businesses.
New Indian Express
5 days ago
- Business
- New Indian Express
Minister Sridhar Babu asks UAE investors to be partners Telangana's vision
HYDERABAD: Stating that the state government is committed to transforming Telangana into a $3 trillion economy by 2047, IT & Industries Minister Duddilla Sridhar Babu on Thursday urged the UAE industrialists to be partners in realising this vision. The minister was addressing the gathering after inaugurating the Investopia Global, an international investment summit, being jointly organised by the UAE and Telangana Government, at the HICC. 'Though geographically small, Telangana is a state with a grand ambition and strong implementation. In a short span, it has risen like a phoenix, and emerged as a model in development and welfare for other states. In 2024-25, Telangana recorded a GSDP growth of 8.2%, which is higher than the national average of 7.6%. Telangana's contribution to the national GDP has exceeded 5%,' he said. The minister noted that the state has devised plans to expand dry ports, multimodal logistics parks, and industrial corridors. 'Net-zero industrial parks, EV zones, green logistics hubs, the Regional Ring Road (RRR), and Metro Phase-2 will give further boost to industrial development. The Future City being developed to global standards will become a world hub for FinTech, Climate Tech, and Smart Mobility innovation. Telangana is witnessing rapid growth in data centers, Global Capability Centers (GCCs), AI labs, and aerospace clusters,' he added. 2.5 times increase in exports from Telangana to UAE Sridhar Babu further informed that over the past 18 months, Telangana attracted over Rs 3.2 lakh crore in fresh investments. 'In the financial year 2024-25, exports from Telangana to the UAE have increased 2.5 times. Pharma, aerospace, digital services, and food processing sectors have played a crucial role. Prominent UAE-based companies like Lulu Group, DP World, and NAFFCO have already made investments in the state,' he noted. He described the investment summit a reunion of old friends. Like the UAE, Telangana values time, trust, and transformation, he added. UAE Minister of Economy and Tourism Abdullah Bin Touq Al Marri, Telangana IT & Industries Special Chief Secretary Sanjay Kumar, TSIIC MD K Shashank, UAE Ministry of Investment Under Secretary Mohammed Al Wahaibi, UAE International Investors Council Secretary General Walid Hareb Al Falahi and Investopia CEO Jean Fares were among the attendees.
Hans India
6 days ago
- Business
- Hans India
Sridhar Babu seeks UAE industrialists' help in realising TG's $3 trillion GSDP dream
Hyderabad: The Minister for IT & Industries D Sridhar Babu urged UAE industrialists to partner and contribute in achieving the vision of achieving a $3 trillion economy for the State. He formally inaugurated the international investment summit titled 'Investopia Global,' jointly organized by the UAE and Telangana Government at HICC. The Minister noted that the state has devised plans to expand dry ports, multimodal logistics parks, and industrial corridors. Net-zero industrial parks, EV zones, green logistics hubs, the Regional Ring Road (RRR), and Metro Phase–2 will give further boost to industrial development. The Future City being developed to global standards will become a world hub for FinTech, Climate Tech, and Smart Mobility innovation. Telangana is witnessing rapid growth in data centers, Global Capability Centers (GCCs), AI labs, and aerospace clusters. 'Though geographically small, Telangana is a state with grand ambition and strong implementation. In a short span, it has risen like a phoenix and emerged as a model in development and welfare for other states. In 2024–25, Telangana recorded a GSDP growth of 8.2%, which is higher than the national average of 7.6%. Telangana's contribution to the national GDP has exceeded 5%,' he explained. Minister elaborated that over the past 18 months, Telangana attracted over Rs 3.2 lakh crore in fresh investments. In the financial year 2024–25, exports from Telangana to the UAE have increased 2.5 times. Pharma, aerospace, digital services, and food processing sectors have played a crucial role. Prominent UAE-based companies like Lulu Group, DP World, and NAFFCO have already made investments in the state. 'This is not just an investment summit—it is a reunion of old friends and a launchpad for the future. Like the UAE, Telangana values time, trust, and transformation. There are vast opportunities in Telangana across AI, emerging technologies, life sciences, green hydrogen, renewable energy, logistics, warehousing, trade infrastructure, food processing, agro exports, aerospace, defence manufacturing, electric vehicles, smart mobility, tourism, wellness, and medical sectors,' he emphasised. The Minister extended a fresh invitation to UAE industrialists to invest in Telangana. UAE Minister of Economy and Tourism Abdullah Bin Touq Al Marri, Telangana IT and Industries Special Chief Secretary Sanjay Kumar, TSIIC MD K Shashank, UAE Ministry of Investment Under Secretary Mohammed Al Wahaibi, UAE International Investors Council Secretary General Walid Hareb Al Falahi, and Investopia CEO Dr Jean Fares were present.
