Qimat Rai Gupta was not an engineer by training, but he was a master of human engineering. Qimat wasn’t a mathematical whiz, but he was one of the finest wealth generators. He may not have grasped the stock market’s whims and fancies, but he certainly knew how to look after stockholders.
The Havells brand name originated from Haveli Ram Gandhi. Due to some financial reasons, he sold Havells brand to Qimat Rai Gupta, a shopkeeper of Baghirath Palace for Rs 7 lakh who made an empire of more than 22000 crores from this brand. Today his company is the 5th largest electronics company in the world.
So, without wasting any kind of time let’s see How Havells Become the Most Popular Brand All Over the World.
Qimat Rai Gupta was born in 1958 in a simple family of Maler Kotla, at the age of 21, to do something, he came to Delhi with Rs. 10,000. Coming to Delhi, he started learning to trade in the electrical market of Bhagirath Palace at his own relative’s place. After some time, he started his own trading business with the name – Gupta Ji & Company.
Qimat Rai, who had big dreams from the very beginning, used to explore new possibilities in his trading business. In 1971, he came to know that the owners of the Havells brand wanted to sell their business and the Havells brand due to some financial crisis, and at that time the Havells brand was not very popular in the electrical market, yet people recognized this brand in the local market.
Qimat Rai Gupta like this offer, but he had no funds to own this complete brand. He, fortunately, thought that, if he completely takes over the Havells brand then he can sell his product at better pricing, and finally he bought the Havells company brand at the cost of Rs 7 lakhs. This was the turning point of his life. For a specific period, he did trading in this business.
Opening gates of HAVELLS
Qimat Rai Gupta established its first manufacturing plant to make electric switches and changeovers in Kirti Nagar, Delhi in 1976. In 1980, he set up a manufacturing plant to make electric meters 1980. In 1980. He laid down the foundation of Havells India Private Limited.
He always focused to provide better quality products and services to its customers. Because of the increased demand in a few years, plants for making electronic products were also set up in Haryana and UP, and continue to grow product and dealer network with wisdom. During this time, he also expanded the company from Tribunal and Joint Ventures.
By 1992, Havells had become a 25-crore company. Qimat Rai Gupta’s dreams were bigger and bigger capital was needed to make the company bigger, for which in 1993 he got his company listed in Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) with a public issue.
Revolutionize Technology Problem
During this time, all the big companies of the world had to face the escalating effect of Chinese products due to which it became difficult for small businessmen to survive and at the same time, the technology available to Havells from abroad was getting hampered. So, keeping the quality in the opposite position, in 1998, Havells started his own Research and Development (R&D) department.
SYLVANIA V/S HAVELLS
In the coming few years, his company grew in stature with the acquisition of Joint Ventures. In 2007, Qimat Rai Gupta decided to buy a German company (SYLVANIA). It was not so easy to take this decision, but on his intention, Rai Gupta decided to acquire the German company.
German company incurs losses due to recession in 2008. Some people advised them to sell the company, rest says that your office is unlucky. Qimat Rai Gupta, who believed in his wisdom and hard work, told his son Anil and his nephew Amit that the SYLVANIA is a challenge for us today, but it is also a big opportunity.
He took many measures to convert its losses into profit, such as reducing the number of employees and expenses of the company, reducing its cost, and by 2010 SYLVANIA started giving a profit. Havells opens an exclusive brand showroom for the first time in Electrical Industry.
Net Worth of Qimat Rai Gupta
In 2014, Qimat Rai Gupta left his family a fortune of $2 billion. Despite this, he remained humble and grounded. He could have had all of the pleasures money could buy, yet he decided to live simply. Our home was warm and inviting, never showy. His automobiles were never flashy.
Books and Message
He recognized the value of brands, implemented many financial breakthroughs, and made great strategic purchases. He never took notes in meetings, yet he could recall every detail without skipping a beat.
Gupta was an outspoken supporter of free communication. ‘Kothe par chadkar bolo,’Sunega to koi.’ The message was that only by honestly discussing your concerns can a solution emerge. This resulted in Havells’ open culture. Another feature that distinguishes Havells is the peaceful coexistence of family and professionals.
The Success story of Qimat Rai Gupta is making the biggest impact on people’s life.