Shravan Gupta
| Shravan Gupta | |
|---|---|
| File:Shravan Gupta.jpgShravan Gupta.jpg | |
| Born | |
| 🏳️ Nationality | Indian |
| 🎓 Alma mater | Shri Ram College of Commerce |
| 💼 Occupation | MD & Chairman of MGF Group |
| 👩 Spouse(s) | Shilpa Gupta[1] |
| 👶 Children | 2 |
Shravan Gupta (born 1973) is an Indian businessman, serving as the chairman of MGF Group.[2][3] He was previously a director at Emaar MGF Land.[4][5][6][7]
Early and personal life
Gupta earned a Bachelor of Commerce degree from the Shri Ram College of Commerce, University of Delhi.[1] He is married to Shilpa Gupta and the couple have two daughters.[8]
Career
After completing his Bachelor of Commerce degree in Delhi, Gupta joined his family business, Motor & General Finance Ltd. (MGF), a vehicle-finance and lending company founded in 1930.[8] He served as a non-executive director of Motor & General Finance until 30 March 2007.
In 1997, MGF diversified into real estate, when Gupta established MGF Developments. The company developed more than five million square feet of primarily retail space, along with commercial and residential projects. Its portfolio included five shopping malls, three of which were located in Gurgaon (The Metropolitan, The Metropolis and The Megacity Mall), and one each in Delhi (City Square Mall) and Jaipur (MGF Metropolitan Mall).[9]
Joint venture with Emaar
In 2006, Shravan’s MGF Developments entered into a joint venture with Emaar Properties PJSC Dubai to invest in the Indian realty space[10]. The joint venture company, Emaar MGF, has invested about Rs.8,500 crore in the Indian real estate market, of which about Rs. 7000 crore (INR 70 billion/USD 1 billion)[11] was brought in by Emaar, which represents the largest Foreign direct investment in India in the real estate sector. Emaar and MGF announced that they were parting ways and that the joint venture would be divided vertically. Two months later, Shravan resigned from his position as Executive Vice-Chairman & Managing Director of Emaar MGF.
In April 2016, Emaar announced that it would part ways with MGF, ending the decade-long partnership.[12] Following the separation, Gupta resigned from his position as executive vice-chairman and managing director of Emaar MGF.[13]
Later developments
In recent years, MGF Developments expanded into mixed-use developments, combining residential, commercial, and leisure spaces. These projects are considered part of India’s evolving urban landscape.[14]
Gupta has also been credited with bringing global investment and design expertise into Indian projects, contributing to modernization of urban real estate infrastructure.[15]
Other Sources
The NCLT later allowed the withdrawal of insolvency proceedings against Shravan Gupta’s real estate firm, after the company reached to a settlement with the homebuyers who had dragged the company to NCLT.[16][17][18]
References
- ↑ 1.0 1.1 Subramanian, N Sundaresha (28 December 2015). "Emaar MGF's Gupta family set to benefit from Dun Smart City". Business Standard. Cite error: Invalid
<ref>tag; name "business-standard" defined multiple times with different content - ↑ Yadav, Shyamlal (7 October 2021). "Pandora Papers: MGF's Shravan Gupta owned BVI firm, JV with Emaar got $2 million". The Indian Express.
- ↑ "Emaar accuses MGF and Shravan Gupta of fraudulent and illegal transfers of land parcels". MoneyControl.
- ↑ "Shravan Gupta". The Economic Times. 15 November 2024.
- ↑ Nair, Shraddha (17 August 2010). "Gupta brothers of MGF Group split". Livemint.
- ↑ "Commercial real estate- The trend transforming the Indian real estate market By Shravan Gupta". Big News Network.
- ↑ "Leading Indian Real Estate Entrepreneur with a Net Worth of $4.2 Billion". OneIndia. 9 October 2024.
- ↑ 8.0 8.1 "Young Turks Season 2 Episode 22 Part 1 Spearheading The Retail & property development (MGF)". CNBC-TV18. 29 July 2013. Retrieved 21 August 2025.
- ↑ "SHRAVAN GUPTA is/has been associated with 44 companies". Zauba Corp. 28 December 2015.
- ↑ "Emaar-MGF brings large FDI to India". Khaleej Times. 17 December 2005. Archived from the original on 21 February 2019. Retrieved 21 August 2025.
- ↑ "Emaar accuses MGF and Shravan Gupta of fraudulent and illegal transfers of land parcels". Moneycontrol. 2021. Retrieved 21 August 2025.
- ↑ "Dubai-based Emaar to separate from Indian partner MGF, ending decade-old joint venture". The Economic Times. 13 April 2016. Retrieved 21 August 2025.
- ↑ "ED attaches ₹16.57 cr of businessman Shravan Gupta in VVIP chopper scam". Hindustan Times. March 18, 2024. Retrieved 21 August 2025.
- ↑ "VVIP choppers case: ED attaches fresh assets of absconding businessman Shravan Gupta". The Print. 18 March 2024.
- ↑ "Shravan Gupta: The Growth Projection For The Indian Real Estate In 2025". Zee News India. 17 January 2025.
- ↑ RealtyNXT. "Emaar Files Complaint With NCLT Over Alleged Fraud By MGF's Shravan Gupta". RealtyNXT. Retrieved 2025-08-28.
- ↑ "Emaar moves NCLT over alleged fraud by MGF's Shravan Gupta, others". www.daijiworld.com. Retrieved 2025-08-28.
- ↑ mnacritique (2021-12-07). "NCLT allows withdrawal of insolvency proceedings against MGF Developments | M&A Critique". Retrieved 2025-08-28.
External Article Reference
- VVIP choppers case: ED attaches fresh assets of absconding businessman Shravan Gupta. Deccan Herald - 18 March 2024[1][2][3][4]
- "India's mall culture expands with global retail partnerships". The Economic Times. 12 January 2023.[permanent dead link]
- "Shravan Gupta Has Plans to Lead the MGF Group into the Future". Business Standard. 23 March 2021.[5]
- "Shravan Gupta & The MGF Group: A Legacy Of Real Estate Excellence". The Free Press Journal. 12 December 2024.
- "Mixed-use real estate gaining ground in India". The Economic Times. 18 June 2025.[permanent dead link]
- MGF poised for the next phase of growth. Asian News International. 12 February 2019.
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- ↑ "VVIP chopper scam: Court refuses to cancel NBWs against business tycoon Shravan Gupta". The New Indian Express. 15 December 2020.
- ↑ "Shravan Gupta parked AgustaWestland money in tax havens: ED". ETV Bharat. 29 September 2020.
- ↑ "ED raids business tycoon Shravan Gupta in AgustaWestland chopper deal case". India Today. 24 January 2020.
- ↑ "AgustaWestland: ED raids 7 locations linked to Shravan Gupta". The Statesman. 24 June 2020.
- ↑ "VVIP chopper case: Delhi HC reserves order on MGF chief Shravan Gupta's plea against non-bailable warrants". The Economic Times. 17 July 2025.
