Meet man whose family couldn't afford slippers at one time, built Rs 7,000 crore company from…
The humble business tycoon's father was a landless farmer who struggled to even afford bare minimums. He and his siblings grew up on a meagre Rs 50 a week earned by their mother.
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| Edited By: DNA Web Team |Source: DNA webdesk |Updated: Jun 18, 2023, 11:05 AM IST
Thyrocare founder and MD A Veluman, who recently went viral, rose above poverty and hardship to become an extremely wealthy man running a billion-dollar firm. Velumani still takes the local train over costly cars if that is the need of the hour.
However costly the car is, in Mumbai for time management, just board a Local. #Mumbai #Borivali.
Car showed 70 mins.
Train took 18 mins. pic.twitter.com/v9GB837owL — Dr. A. Velumani.PhD. (@velumania) June 17, 2023
The humble business tycoon's father was a landless farmer who struggled to even afford bare minimum clothing like pants and slippers for Velumani and his siblings. They grew up on a meagre Rs 50 a week earned by their mother.
Despite limited access to education, Dr Velumani earned a degree in BSc. He landed his first job with a pharma firm making capsules near Coimbatore at a meagre pay. However, that too did not stay for long as the company failed after four years, leaving him unemployed.
He then left for the city of opportunities, Mumbai, with Rs 400 in his pocket. He worked for BARC for 14 years before setting up Thyrocare with his PF money. From Rs 1 lakh at launch in 1996, his company touched a staggering worth of Rs 7,000 crore in 2021.
Velumani's stake skyrocketed to Rs 5,000 crore at the time, as per a Forbes report. He sold 66 percent of his stake to PharmEasy parent for Rs 4,546 crore that year. Thyrocare currently has a market cap of Rs 2,500 crore.