Success Story of Sanjiv Goenka: The Owner of RPSG Group

The Indian startup circuit is well known for the mighty figures who have revolutionized the world. Now, as there are millions of companies that have worked for the development of society, the businessmen of India have made the most of the opportunities thrown at them.

Among the companies that have worked for the development of the startup circuit and providing employment, RP-Sanjiv Goenka Group (RPSG) is a brand that is popular in the Indian subcontinent. The man leading this group is Sanjiv Goenka. He has been an influential person throughout his tenure and continues to do so!

Sanjiv Goenka - Biography

Sanjiv Goenka - Background
Sanjiv Goenka - RPSG Group
Sanjiv Goenka - Transforming RPSG Group into a Conglomerate
Sanjiv Goenka - RPSG Group - Highlights
Sanjiv Goenka - RPSG Group - Funding
Sanjiv Goenka - RPSG Group - Acquisitions
Sanjiv Goenka - RPSG Group - Subsidiaries
Sanjiv Goenka - RPSG Group - Lucknow Super Giants
Sanjiv Goenka - Carvaan
Sanjiv Goenka - RPSG Group - Increased Sales
Sanjiv Goenka - An Inspiration

Sanjiv Goenka - Background

Sanjiv was born on 29 January 1961. He pursued his graduation from the prestigious St. Xavier's College, Kolkata.

Sanjiv Goenka was born in Kolkata in 1961 and is the son of the late Dr. Rama Prasad Goenka. He is married to Preeti Goenka, and they have two children: a daughter named Avarna and a son named Shashwat.

Sanjiv is a former member of the Prime Minister’s Council on Trade and Industry. Presently, he is serving as the chairman of the Board of Directors of Woodlands Medical Center LTD.

Apart from making a mark on the business sector, he has also taken an interest in the world of sports. Sanjiv is the owner of the ATK Football Club in the Indian Super League. He was elected as the president of the All India Management Association in 2009-2010. Apart from that, he is the chairperson of the prestigious Indian Institute of Kharagpur. Sanjiv Goenka has a net worth of $3.4 billion approximately Rs 28,390 crore (2024).

Sanjiv Goenka - RPSG Group

RPSG Group was created by Sanijv Goenka in 2011. This company is named after his father, Late Rama Prasad Goenka. His brother leads the Mumbai-based RPG Group while Sanjiv heads the RPSG Group. The major part of Sanjiv Goenka’s group was the power generation and distribution company CESC Ltd. Hence, to match the power revenues, the junior Goenka had to make his other businesses grow faster. He had to unlock some of the value that had been trapped within the flagship CESC Ltd.

Sanjiv Goenka - RPSG Group - Highlights

This company-owned businesses like retail and real estate. Three businesses in the group have turned around in the past years. These groups are carbon black, music, and film content. Sanjiv Goenka entered the BPO circuit with the purchase of Firstsource Solutions in 2012.

In October 2018, the flagship CESC was split into three parts. These parts were the power generation and distribution business, retail business, and CESC Ventures. The CESC Ventures included IT and FMCG. According to Sanjiv, to turn the business around, the company decided to stop doing business for the sake of top-line, and hence, the team started to focus on profitability.

Sanjiv’s turnaround efforts at Saregama have put the company on track. He had brought in new management to the company that was a relatively smaller member of RPSG Group. It had an annual turnover of INR 281.03 crore in the Q4 2023-2024. The company has rights to music content in various Indian languages, and has changed very much in one year! This is all due to Sanjiv’s effort in remodeling the company.

Sanjiv Goenka - Transforming RPSG Group into a Conglomerate

Sanjiv has always guided his team. This is the reason that RPSG has become a conglomerate with diverse revenue streams.

Whenever a visitor visits his office, three small identical glass bowls of snacks are served to the visitor. Two of them comprise of snacks from the Goenka group. While the third snack has a popular fried snack from the third company. Sanjiv then challenges his guests to taste the contents of the three bowls and identify the one which is the in-house products. You might wonder why he does this kind of activity. The reason is he wants to get feedback from every visitor to his office.

Although the group’s entry into the FMCG snacks business is new, Goenka has been bullish about its future. He monitors the INR 500 crore FMCG operation, tastes most of the new products himself, and also makes sure that the visitors check out the food. This attitude of Sanjiv has helped him expedite his wish to make the INR 26,000 crore group an even division of the regulated and non-regulated business.

The RPSG Group used to be dependent on the power sector. The main reason is that the power sector comprises 80% of its revenues. Well, today, revenues are evenly distributed and matched between power and other business.

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Sanjiv Goenka - RPSG Group - Funding

Sanjiv Goenka - RPSG Group - Acquisitions

Sanjiv Goenka - RPSG Group - Subsidiaries

The RPSG Group subsidiaries are:

Sanjiv Goenka - RPSG Group - Lucknow Super Giants

In August 2021, the Governing Council of the Indian Premier League invited bids for two new teams. Although 22 companies showed interest, only six made serious offers due to the high base price. The RPSG Group, owned by Sanjiv Goenka, won the rights to operate the Lucknow franchise with a bid of ₹7,090 crore (around ₹80 billion or US$950 million in 2023).

The team then held a competition to decide its name, and in January 2022, they chose "Lucknow Super Giants."

Sanjiv Goenka - Carvaan

Saregama’s (one of the RPSG Group companies) product Carvaan now accounts for half of its revenues. Presently, more than a million products have been sold. Hence, due to its success, Goenka has launched smaller hand-held products targeting the younger generation, this hand-held music device has internet connectivity to stream music.

According to Sanjiv, Carvaan was targeted at an older generation. But, the new edition will attract the younger generation too.

Carvaan Go is also available at the company’s online store. The credit for the success of the product also goes to Vikram Mehra. He has worked with different big brands like Tata Sky and Star India.

Sanjiv Goenka - RPSG Group - Increased Sales

In December 2018, Saregama posted a jump of 66% in sales to INR 400 crore from INR 200 crore. Whereas the company posted revenue from operations of INR 866.66 crore in FY24, net profit stood at INR 197.56 crore. The product named Carvaan has been very popular in the Indian subcontinent. The product’s look is inspired by an old Murphy radio that was lying in the company headquarters in Kolkata.

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Sanjiv Goenka - An Inspiration

Setting up a brand and making sure that the quality of the products never decreases is quite a difficult task. But, Sanjiv Goenka, RPSG Group owner, has proved the business critics wrong. With perfect planning, he has been successful in expanding the company. Under his leadership, the company is now taking giant strides in the food sector too.

The introduction of Carvaan has enabled the older generation to relive the past. His perfect business tactics have been replicated in the introduction of Carvaan Go. His products have been of high-class quality and are giving stiff competition to the rival brands. His deep interest in investing in football, a sport that has been unable to attract the masses shows his determination to help the sectors which have been left behind. Truly, Sanjiv Goenka has been an inspiration for many budding entrepreneurs.

FAQs

Who is Sanjiv Goenka?

Sanjiv Goenka is an Indian billionaire entrepreneur. He is the founder and chairman of RPSG Group and an early-stage investor. He is also the owner of an IPL team, Lucknow Super Giants.

What is the full form of RPG Group?

RPG Group stands for Rama Prasad Goenka Group. Harsh Goenka is the chairman of the RPG Group conglomerate.

What is Sanjiv Goenka net worth 2024?

The net worth of Sanjiv Goenka is estimated to be around $3.4 billion approximately Rs 28,390 crore (2024).

What is the RP Sanjiv Goenka group net worth?

The net worth of RPSG in revenue is $4.3 billion.

Who is the CESC Owner?

The parent organization of CESC Limited is the RPSG Group.