Achal Bakeri
Achal Bakeri
Vikas Khot
At a Glance
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Age55
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Earnings$ 1.26 Billion
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Source of earningsAir Coolers
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Marital StatusMarried
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Children2
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ResidenceAhmedabad
Forbes India Lists
#89 India Rich List 2015
Profile
Property developer's son branched out into manufacturing in 1988 by borrowing $1,500 from his father. Today his Symphony, in which he owns a 75% stake with family, is the world's biggest producer of air coolers, or what he calls "the common man's air conditioner." It sells 1 million units annually in 60 countries. Symphony air coolers are used in such places as the walkways at Heathrow Airport, Wal-Mart stores and temples in India. Seeking expansion, Bakeri bought Munters Keruilai, a Swedish-Chinese joint venture to gain access to China and the Asean region. Assets include the family's real estate holdings in and around Ahmedabad city.
