Rajan Nanda: End of an era

Nanda was among the rare businessmen who have seen their fortunes flourish, dwindle and then recover

Aug 06, 2018, 15:23 IST1 min

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Nanda with Shailendra Agrawal (seen, extreme right), the chief operating officer and head of research and development (R&D) at Escorts, who has been instrumental in introducing new tractor models. Today, Escorts's business spreads across three arms, agri-machinery, railway equipment and construction equipment. The agri-machinery arm contributes 80 percent of the group's revenue of over Rs 5,000 crore and Nanda had reckoned to Forbes India earlier this year that the group's "hands are full" at the moment to venture into new areas.

Image by Madhu Kapparath

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Rajan Nanda joined Escorts in 1965 at the age of 23, before assuming the charge as chairman and managing director in 1993. He oversaw a tumultuous period in the group's history, only to have it rebound much later. "I’d like to say that we’ve not only made money, we’ve earned respect as a company,"Nanda said in his interview to Forbes India.

Image by Madhu Kapparath