Visionary Builder: The Niranjan Hiranandani Story

Niranjan Hiranandani is highly esteemed in the Indian business realm, particularly for his role as co-founder and managing director of the Hiranandani Group. His contributions have been instrumental in shaping India's real estate sector, earning him recognition as one of the country's foremost billionaire entrepreneurs. With a strong focus on innovation, a sharp eye for opportunities, and a commitment to excellence, Hiranandani's journey underscores the transformative potential of entrepreneurship and vision. Under his leadership, the Hiranandani Group has not only redefined city skylines but also inspired a new wave of aspiring entrepreneurs to pursue ambitious goals. His ascent from humble origins to a billionaire real estate tycoon is a testament to his relentless drive, unwavering vision, and exceptional leadership. Through his efforts, Hiranandani has not only transformed urban landscapes but also set new standards of excellence within the real estate industry. As India undergoes rapid urbanization and growth, the legacy of Niranjan Hiranandani and the Hiranandani Group will undoubtedly be symbols of innovation, quality, and sustainable development.

Niranjan Hiranandani  - Biography

Niranjan Hiranandani - Personal Life
Niranjan Hiranandani - Early Life
Niranjan Hiranandani - Career
Niranjan Hiranandani - Journey so Far
Niranjan Hiranandani - Hiranandani Group of Companies
Niranjan Hiranandani - Investments
Niranjan Hiranandani - Philanthropy and Associations
Niranjan Hiranandani - Controversies
Niranjan Hiranandani - Awards and Recognitions

Niranjan Hiranandani - Personal Life

Niranjan Hiranandani was born in Mumbai on March 8, 1950. He attended Campion School in Mumbai for his schooling and earned a bachelor's degree in commerce from Sydenham College, also in Mumbai. He became a chartered accountant through the Institute of Chartered Accountants of India.

His father, Lakhumal Hiranandani, was an ENT surgeon who received the Padma Bhushan award from the Government of India. Niranjan has an elder brother named Navin Hiranandani and a younger brother named Surendra Hiranandani. He is married to Kamal Hiranandani and has two children, a daughter named Priya and a son named Darshan. Priya is married to Cyrus Vandrevala, who is a businessman based in London, while Darshan is married to Neha Jhalani, the daughter of Shabnam and Pradeep Jhalani, a Delhi-based businessman.

Niranjan Hiranandani - Early Life

Niranjan Hiranandani embarked on his career as a teacher of accounting. In 1981, he ventured into entrepreneurship by establishing his first business, a textile weaving unit located in Kandivali, Mumbai.

Equipped with a strong educational background and ambition to excel in the real estate domain, Niranjan Hiranandani, together with his brother Surendra Hiranandani, laid the foundation of the Hiranandani Group in 1978. Although the company had humble beginnings, it swiftly gained acclaim for its dedication to quality, innovation, and customer satisfaction. Over time, the Hiranandani Group has evolved into one of India's premier real estate developers, boasting a diverse portfolio encompassing residential, commercial, and mixed-use projects.

Niranjan Hiranandani - Career

Together with his brother Surendra, he acquired 250 acres of land in Powai, Mumbai, initiating a real estate venture named Hiranandani Gardens. Encouraged by the success of Hiranandani Gardens, Niranjan Hiranandani and his team proceeded to undertake numerous other noteworthy projects across Mumbai and beyond. Ranging from luxurious residential complexes to expansive IT parks and integrated townships, the Hiranandani Group's portfolio expanded significantly.

Niranjan Hiranandani - Journey so Far

Niranjan Hiranandani has made a significant impact on the Indian real estate scene by transforming Powai and Thane, two Mumbai suburbs. Back in the late 1980s, when these areas were largely undeveloped, he recognized their potential. His vision was to create self-sustaining communities offering modern amenities and green spaces. Leading the Hiranandani Group, he initiated ambitious projects like Hiranandani Gardens in Powai and Hiranandani Estate in Thane. These integrated townships set new standards for urban planning, featuring well-designed residential complexes, commercial areas, schools, hospitals, and recreational facilities. Today, Powai and Thane are bustling communities, drawing residents and investors alike, due to Hiranandani's foresight.

Despite his success, Hiranandani remains grounded, prioritizing values like integrity, honesty, and hard work. He attributes much of his achievements to teamwork, acknowledging the contributions of his dedicated team at the Hiranandani Group.

He founded Hiranandani Hospitals in Powai and Thane, reflecting his commitment to healthcare.

As the founder Chairman of Yotta Infrastructure, he launched NM1, the world's second-largest data center, in Navi Mumbai.

He was ranked among the top 10 Indian real estate tycoons by the Grohe Hurun report in 2020 and held the second position in the Real Estate Sector according to the IIFL Wealth Hurun India Rich List (2020).

Hiranandani Group’s co-founders Surendra and Niranjan though now pursuing independent ventures, jointly own assets, notably the Powai Township, which they developed.
In 2016, they sold part of their commercial and retail assets in Powai to Canada's Brookfield Asset Management for $1 billion.

Through his family office Nidar Group, Hiranandani is investing in energy infrastructure, focusing on natural gas pipelines and gas storage terminals.

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Niranjan Hiranandani - Hiranandani Group of Companies

At the core of Niranjan Hiranandani's achievements is his steadfast dedication to quality and creativity. He strongly believes that real estate is not just about constructing buildings but about crafting enduring, livable environments that enrich residents' lives. In pursuit of this goal, Hiranandani has introduced numerous innovative concepts and technologies in India's real estate sector.
For instance, the Hiranandani Group was among the earliest developers in India to embrace mixed-use developments, integrating residential, commercial, and retail spaces within single townships. This approach optimizes land usage and fosters lively, self-sufficient communities where people can live, work, and enjoy leisure activities without lengthy commutes.

Alongside mixed-use developments, Hiranandani has been a pioneer in incorporating eco-friendly practices and sustainable design principles into its projects. From implementing rainwater harvesting systems to harnessing solar energy, the Hiranandani Group is dedicated to minimizing its ecological impact and advocating for sustainable living.

As Hiranandani guides the Hiranandani Group forward, his vision remains centered on innovation, sustainability, and excellence. With several ambitious ventures on the horizon, including the creation of smart cities and sustainable urban infrastructure, Hiranandani is poised to leave an even more profound mark on India's real estate landscape in the years ahead.

Niranjan Hiranandani - Investments

Niranjan Hiranandani made an investment in Goodfellows on November 17, 2022.

Niranjan Hiranandani - Philanthropy and Associations

In addition to his accomplishments in the business realm, Hiranandani is recognized for his philanthropic endeavors and commitment to social responsibility. He strongly advocates for giving back to society and actively participates in various charitable initiatives and community development projects.

• Through the Hiranandani Foundation, the philanthropic wing of the Hiranandani Group, Hiranandani has helped in causes like education, healthcare, and environmental conservation. The foundation operates schools, hospitals, and vocational training centers in underprivileged areas, extending quality education and healthcare services to numerous individuals.
• Hiranandani is associated with 17 schools, including the Hiranandani Foundation School in Powai and Thane.
• He has served as the past president of the Maharashtra Chambers of Housing Industry and chaired the Mumbai City Development and Environment Committee of the Indian Merchants Chambers (IMC).
• Hiranandani holds the position of President of the National Real Estate Development Council (NAREDCO), a body established under the Government of India's Ministry of Housing and Urban Affairs.
• He has also served as the President of the Associated Chambers of Commerce and Industry of India (ASSOCHAM), a century-old trade association aimed at shaping the country's trade and industrial landscape.
• Hiranandani's involvement extends to various advisory roles, including serving as an advisor to the Government of India on housing and habitat policy and as the former president of the Federation of Indian Chambers of Commerce and Industry (FICCI).
• He chairs the Priyadarshni Academy, focusing on social and cultural initiatives, and serves on the boards of trustees for several temples and educational institutions.
• Hiranandani played a pivotal role in establishing the HSNC University, Mumbai, as a cluster university. Affiliated with institutions like K.C. College and H.R. College, this university aims to provide quality education and is operated by the H(S)NC Board, an esteemed educational trust of which Hiranandani has previously served as president.

Niranjan Hiranandani - Controversies

In October 2021, Niranjan Hiranandani was implicated in the Pandora Papers, accused of concealing $60 million in multiple offshore trusts. Hiranandani defended himself by stating that the funds held in the offshore account in the British Virgin Islands belonged to his son Darshan Hiranandani, who resides in Dubai.

Additionally, there is an arbitration case initiated by his daughter Priya Hiranandani, alleging that her father and brother breached a business association agreement signed by the three parties in May 2006.

According to the anti-corruption branch of the Central Bureau of Investigation (CBI), the Hiranandani Group failed to deposit its employees' Provident Fund (PF) in 2003-04. The Employee Provident Fund Organisation (EPFO) conducted an inquiry and determined that the sum involved amounted to Rs 9 crore.

Niranjan Hiranandani - Awards and Recognitions

Hiranandani has been awarded with the following awards:

• Mr. Niranjan Hiranandani received the NDTV Property Awards 2013 for his exceptional contribution to the real estate sector.
• He was also honored with the Construction Week India Awards 2012 Hall of Fame in Real Estate.

FAQs

Who is Niranjan Hiranandani?

Niranjan Hiranandani is the Founder and MD of Hiranandani Group of Companies.

What is the Hiranandani Group of Companies about?

With over four decades of expertise in the real estate industry, the Hiranandani Group stands as one of India's foremost premium developers.

What is the net worth of Niranjan Hiranandani?

The net worth of Niranjan Hiranandani is $1.5 billion.