Meet Megha Engineering Founder, Farmer's Son Who Lives In A 'Diamond House'

PP Reddy started the company, now valued at Rs 67,500 crore, with a capital of just Rs 5 lakh.

Megha Engineering and Infrastructures Ltd, which has emerged as the second-biggest buyer of electoral bonds and is the subject of a bribery case filed by the CBI, is owned by a billionaire who is the fifth child of a farmer from Andhra Pradesh's Krishna district.

Refusing to let his humble beginnings prevent him from sowing the seeds of what would become a behemoth valued at Rs 67,500 crore, Pamireddy Pitchi Reddy himself commands a personal net worth of $2.3 billion (approximately Rs 19,230 crore), according to Forbes. He also now lives in a house in Hyderabad which is shaped like a diamond.

PP Reddy started the company with a capital of just Rs 5 lakh from a shed at Balanagar in Hyderabad under the name of Megha Engineering Enterprises and built pipes for municipalities. His nephew, PV Krishna Reddy, joined the company two years later and the two men slowly branched out into building roads and taking up small infrastructure projects, eventually changing the company's name to Megha Engineering and Infrastructures Ltd (MEIL) in 2006.