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A similar success story to Shah Rukh's belongs to his lesser-known but equally illustrious neighbour, who came to Mumbai with just Rs 100 and built a business empire worth thousands of crores.
DNA Web Team
Updated : Aug 01, 2023, 11:23 AM IST
 "Meet Shah Rukh Khan’s billionaire neighbour who came to Mumbai with Rs 100, now has Rs 11,500 crore (2)")
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India’s economic capital Mumbai is a land of opportunities where people from all over the country have scripted remarkable success stories. Bollywood superstar is one such tale of an outsider climbing to the top of the industry without any backing. A similar success story belongs to one of SRK’s illustrious neighbours, who came to the metropolis with just Rs 100 and built a massive business empire. Subhash Runwal is now a billionaire and way richer than his world famous neighbour.
Who is Subhash Runwal?
Today, 80-year-old Runwal is one of the top developers of the city known for helping middle-class families achieve their dreams of owning their house. He is the chairperson of the Runwal Group which builds affordable to luxury apartments and many shopping malls.
The story of Runwal starts from a small Maharashtra town called Dhulia. Growing up he saw his parents struggle with finances. He studied in Pune and after picking up a commerce degree, a 21-year-old Runwal left for Mumbai, with dreams of becoming an accountant and just Rs 100 in his pocket in 1964. He became a CA and bagged a job with Ernst & Ernst in 1967. He got a high-paying posting in the US but soon came back to India after not finding the lifestyle suitable. He then worked with a chemical company but decided to go his own way in 1978 and invested everything in real estate.
His first property was 22 acres in Thane, and his first project was a 10,000 sq ft housing society in the same city called Kirtikar Apartments. He became a well-known name in the low-cost housing segment. In 1981, he built the flagship Runwal Nagar with a 16 tower cluster. He also moved into manufacturing steel and pharma products but those businesses did not find similar success.
Nevertheless, the real estate business went from strength to strength. The Runwal Group forayed into malls after the entry of his two MBA sons. The opened the first R Mall in Mulund in 2002 with Bollywood legend Amitabh Bachchan cutting the ribbon. With investment from Singapore Government’s firm they built the 1.2 million sq ft RCity Mall in Ghatkopar.
When he started his career, Runwal lived in a rented “one room-kitchen” in Mumbai’s Kurla area. He then lived in a two-bedroom flat in Ghatkopar, and then a bigger one in Deonar. He now owns a six-acre Runwal Estate in Pune. Subhash Runwal now lives in a sea-facing residence next to Shah Rukh Khan’s Mannat. He now has a net worth of over Rs 11,500 crore ($1.4 billion).
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- Shah Rukh Khan
- Shah Rukh Khan neighbour
- Subhash Runwal
- Runwal Group
- Mumbai
- Success Story
