Billionaire, Global Citizen Dr. Bhupendra Kumar Modi was bestowed with the title of Raja-Rishi on the occasion of his 74th birthday. The honour which finds its origins in the Holy Hindu book of Ramayana was bestowed by Anant Shri Vibhushit Jagadguru Shankaracharya Dwarka Sharada Peethadhishwara Swami Shree Sadanand Saraswati Maharaja. The title, which literally means a ‘royal sage’ is used to describe a person who has attained all material possessions but has a high level of spiritual knowledge that enables him to remain detached. This is an acknowledgement of the life and work of Dr. Bhupendra Kumar Modi who has been known as the ‘Man of Many Firsts’ for bringing several new technologies such as India’s first mobile call, first photocopier etc. These technologies have revolutionised the office automation and mobility landscape of the country, laying the foundation for a digital India.
Dr. Bhupendra Kumar Modi
In keeping with his spirit of pioneering new technologies, the Dr. Bhupendra Kumar Modi led Modi Group announced venturing into industries such as wellness and realty with the intent of transforming the value chain in each of these sectors. His nascent investments in these industries have focused on new technologies such as Artificial Intelligence that bring more operational efficiency and enhanced revenue cycles for more stable revenue growth.
Through its subsidiaries in the realty and wellness space, the group will look to invest USD 1 billion over the next few years. In the wellness space, these investments will manifest as brownfield developments in preventive care centres in India and across the globe.
In the realty space, the group plans to develop mixed-use developments in New Delhi, Rampur and Mumbai. Built along the lines of a private smart city in Rampur, the facility is proposed to include a shopping mall, multiplex, hotel & service apartments and group housing. These will be centred around a trifecta of manufacturing units producing AAC blocks & panels, pre-fabricated steel structures and glass processing units.
The New Delhi project is proposed to be developed as a wellness city with Medical Office Buildings, Residencies & Service Apartments, Rehab Centre and a Quaternary Care Hospital, Senior care facilities. Speaking on the development, Mr. G.P Singh, Chairman-Finance Committee, Modi Holding said, “Across the projects in Delhi, Mumbai and Rampur, the group is proposing to develop approximately 3.5 million sq ft of space at a cumulative initial cost of approximately INR 6000 crore in phase 1, these will be driven by new technologies that can revolutionise each sector.”
Commenting on the developments, Ms. Preeti Malhotra, Chairman, Smart Bharat Group said, “Dr. Modi has a knack of investing in sunrise industries that is sharpened by his experiences has as an OCI. But for investment in such sectors to grow, it is imperative that the right environment must be created. There needs to be positive, investment-friendly change in FAR laws, land laws, construction laws and tax laws which creates an enabling environment for investors such as Dr. Modi. We are confident that once this is done, more OCI investors such as Dr Modi will bolster their engagement with India and play a keener and more meaningful role in making the country a developed nation by 2047.”
To keep pace with the changing times, Dr. Modi is rechristening his business group, from ‘Smart’ to ‘Modi’. The Modi name in India has been associated with transformative action at a large scale that has been instrumental in developing India. The change signals a return to his roots in his quest to build upon the legacy of his father Shri Rai Bahadur Gujarmal Modi. The new group has the tagline of ‘change’ that emphasises Dr. Modi’s commitment to keep pace with our eternally disruptive world and embrace change with alacrity.