In Jaithirth “Jerry” Rao’s favourite poem, “The Love Song of J. Alfred Prufrock” by T.S. Eliot, there is a line where the protagonist ponders, “Do I dare/Disturb the universe?” It might as well be a question Jerry saves for rumination post-retirement, because he goes ahead and does it anyway.
The 58-year-old part-time poet and former head of Citibank India, quit 20 years of finance to found the software firm Mphasis. Diminutive and thoughtful, yet fast-talking with pungent verve and energy, Rao thrives on being the contrarian. He acquired a technology-driven firm when the dotcom boom was in decline and a few years later sold a controlling stake in his company to EDS for $380 million. Since then, he has been a venture capitalist, invested in Grover Vineyards, picked up five percent stake in Osian’s — an art auction house and published poetry.
Can It Be Done?
Rao believes that meticulous execution will keep the project profitable, even though the per square-foot price is low. But this argument doesn’t cut ice with Abhisheck Lodha of Lodha Group. “There is a certain cut-off point below which you can’t maintain quality standards or profitability,” he says. The cheapest segment that he is comfortable with is the Rs. 10 lakhs to Rs. 25 lakh segment. “Gives us more breathing room,” he says. His sentiments are echoed by Ashish Jindal, northern regional director, for realty research firm Knight Frank.
(This story appears in the 05 June, 2009 issue of Forbes India. To visit our Archives, click here.)
He is the founder of Mphasis Corporation, one of many crap IT companies in India. Very pathetically conceived idea called Mphasis, which is just a carbon copy of Infosys. After many years of hiring useless dumbsters in Mphasis, he sold the company to EDS for $380 million. The result is : EDS is infected with a virus called Mphasis.
on Apr 27, 2012Sir, this is a great vision. We are into construction of small rugged low cost houses for relief activities. We are executing a project at Gulbarga presently. We request your goodself to visit our website at www.gokulainfrastructures.com and click an icon 'play video' appearing at right top corner of the home page. We have completed around 75 houses for flood relief which are earthquake proof and at a cost of Rs. 1.00 lac each. I request you to give me an appointment to meet you on the subject. You are requested to contact me at sampigethaya@sunecs.com. Thank you sir.
on Jul 26, 2011Very good concept. Mr Rao if u get success in your new venture, it will be great. In fact people like me will support u always. Because i m one of the person who is low income group. Good luck
on Dec 16, 2010This guy Jerry Rao is the founder of another junk company called Mphasis, which is well known for half-baked managers and leaders, who are forerunners in spoiling the IT work culture in India. You cannot grow in the company, unless you butter up your leaders and demonstrate all unprofessional and unethical behaviors. <br /> How is this housing project is going to be then, the same junk that comes at the cost of his projects and company standards.
on Dec 24, 2009Hello sir,<br /> This is navneeth and I seriously have a business model similar to you. I required your email id..
on Jul 14, 2009I WANT TO SEND A HOUSING PANEL MAKING DETAILS FROM ISRAEL. 09810076220
on Jun 16, 2009I am a builder, Can u send me further details on the same
on Jan 21, 2010Roof for people at the bottom of pyramid is a doable idea...10lacs can be a realistic figure.Talking about pipedreams...someone someday commented that the world would not need more than 5 PCs.
on May 22, 2009