Meet man, farmer’s son, left his job, took Rs 50000 loan and built Rs 4000000000 business empire, his name is…
GH News December 27, 2024 04:06 PM
Theres a common perception that entrepreneurs or industrialists are born not made. Many believe that only those born into business families can succeed as entrepreneurs. However determination and passion can help anyone break barriers. Dr. K. Prakash Shetty born in the small village of Korangrapadi in Karnataka’s Udupi district is a testament to this belief.
From humble beginnings in a farmer’s family Dr. Shetty’s journey of resilience and ambition led him to establish a Rs 400 crore business empire. Today his ventures employ over 4000 people directly and indirectly.
A Village Boy With Big Dreams
Born on July 21 1959 in Korangrapadi Udupi district Prakash Shetty completed his primary education in the village. He later moved to Udupi for higher studies earning a BBM degree from Poorna Prajna College. After graduation he took a job in Bengaluru but was always inclined towards entrepreneurship. Leaving his job he secured a loan of Rs 50000 and set up a printing press marking the beginning of his entrepreneurial journey.
Birth of MRG Group
Dr. Shetty married Asha Shetty and the couple was blessed with a son Gaurav. Despite family responsibilities he remained focused on his entrepreneurial dreams. He founded MRG Group naming it after his loved ones M for Madhav his father R for Ratna his mother G for Gaurav his son
Venturing Into Hospitality
Finding limited satisfaction in the printing business Dr. Shetty shifted to the hospitality and food sector. In 1993 he launched his fine-dining restaurant Banjara which became an instant success. Encouraged by the response he conceptualized the Goldfinch Hotels brand. Starting in Mangaluru Goldfinch Hotels expanded to Bengaluru Goa Mumbai and Delhi NCR including Surajkund.
National Games: A Turning Point
Dr. Shetty’s reputation in luxury hospitality soared when Banjara was chosen as the official caterer for the 1997 National Games held in Karnataka. His stellar performance secured him the catering responsibilities for the 1999 National Games in Manipur. These events brought him nationwide recognition in the hospitality industry.
Expansion Into Real Estate
As real estate boomed the MRG Group diversified into this sector beginning with the Ahika Apartments in Bengaluru’s BTM Layout. The project set a benchmark in luxury living. Today MRG collaborates with prestigious entities like the Prestige Group and others to execute large-scale projects.
The group’s real estate footprint spans Karnataka Maharashtra Goa and Delhi NCR. It boasts a land bank of over 1000 acres and is currently developing the Goldfinch City a massive 104-acre integrated township in Mangaluru. The township will feature housing apartments schools hospitals hypermarkets malls hotels multiplexes and banquet facilities.
Philanthropy and Honorary Doctorate
Dr. Shetty is as dedicated to philanthropy as he is to business. During the COVID-19 pandemic the MRG Group provided meals to over 20000 families. The group also awards scholarships to thousands of students annually and offers financial assistance to the underprivileged.
In recognition of his achievements and contributions to society Mangalore University honored Dr. Shetty with an honorary doctorate at its 42nd annual convocation. The event was graced by Karnataka Governor Thawar Chand Gehlot.
Through his ventures in hospitality real estate and philanthropy he continues to leave a lasting impact on both the business world and society.