Meet man who lives in ‘Diamond House’, wealth increased by Rs 26700 crore in one year

Digital Desk: In addition to being one of the wealthiest self-made billionaires in India, P Pitchi Reddy is also among the year's top wealth creators. According to 360 ONE Wealth Hurun India Rich List 2023, the Hyderabad-based business magnate is the wealthiest person in the engineering and construction sector and increased his wealth by an incredible Rs 26,700 crore in the year. 

Reddy, the son of a farmer, has risen from humble beginnings to become a colorful businessman who lives in a magnificent home that was custom-designed to resemble a huge, brilliant diamond. The house, often known as the "Diamond House," is now a well-known modern landmark in Hyderabad. Reddy even has a golf course of his own. 

Born as the fifth child in a farming family, Reddy was never in a position to fantasize about being a billionaire with unfathomable wealth. 

However, he was very ambitious, and in 1989 he founded Megha Engineering Enterprises, a modest company with just two employees. He started out building little pipes for municipalities, but as his business expanded, it became a significant player in large-scale infrastructure projects like roads, dams, natural gas distribution networks, and lift irrigation projects, including the $14 billion Kaleshwaram lift irrigation project, which is India's largest of its kind. 

Two years after the business opened its doors, PP Reddy's nephew PV Krishna Reddy joined him. He succeeded the founder as MD and is currently in charge of managing Megha Engineering and Infrastructure Limited (MEIL). PP Reddy, whose net worth is currently Rs 37,300 crore, made it into the list of the 100 richest persons in India this year.