Shravan Gupta
Quick Facts
Biography
Shravan Gupta (born 1973) is an Indian businessman, who is currently serving as the chairman of MGF Group and Director of Emaar MGF Land. He is also the founder of MGF Developments. He previously served as the MD of Emaar MGF.
Early life
Gupta has done his bachelor's degree in commerce from Shri Ram College of Commerce, University of Delhi.
Career
He joined his family business of financial services, Motor & General Finance Ltd. (MGF), which was founded in 1930. He served as a Non-executive director of Motor & General Finance until March 30, 2007.
In 1997, the MGF Group diversified into the real estate, when Shravan founded MGF Developments. The company created over 5 million square feet of retail space, along with residential and commercial spaces and developed shopping malls including The Metropolitan, The Metropolis and Megacity Mall in Gurgaon, City Square and MGF Metropolitan Mall in Delhi and Jaipur.
In 2005, Gupta's MGF Developments entered into a joint venture with Emaar Properties PJSC Dubai, bringing in the largest Foreign direct investment in India in the realty sector, has invested about Rs 8,500 crore in Indian real estate market through its joint venture firm.
In June 2016, Shravan, who was serving as executive vice chairman & MD of Emaar MGF, resigned from his post after the two joint venture partners- Dubai-based Emaar Properties and India's MGF Development decided to part ways and restructure the company's business, reportedly by The Economic Times.
Legal issues
In December 2018, the Enforcement Directorate (ED) seized assets worth ₹102.8 million (US$1.4 million) from Gupta under Section 37A (1) of Foreign Exchange Management Act. One of his cases is being investigated by the Central Investigation Bureau.
Personal life
He is married to Shilpa Gupta and has two daughters with her.