Soon after completing his engineering degree from Carnegie Mellon University, Pennsylvania, Ratul Puri had joined his father’s company, Moser Baer, leading manufacturer of computer storage devices, in 1994. Later in 2001, he was designated as the Executive Director of the company.
But, the career at the existing company failed to inspire Ratul and in 2008, he started his own company as Hindustan Power Projects Pvt Ltd (HPPPL) which started with manufacturing solar panels and today, it is considered as one of the leading company in the power sector.
Ratul says, “Becoming an entrepreneur is not by design but by orientation. One must remember that I grew up in an environment where nurturing business was the way of life. Hence once the preparation was complete, I started my career from the ground and worked my way to understand the nuances of running a business.”
Today, Hindustan Power Projects, is an independent power producer with projects across thermal, renewable, hydro, mining and engineering procurement and construction (EPC) businesses. Currently, the group has a portfolio of 6,000 MW in projects under various stages, amounting to an asset size of $2 billion, and employs more than 800 associates across the sites.
Establishing a venture in a completely unknown field wasn’t a cake-walk for Ratul. But there were certain learning which helped him in his difficult times, “Essentially remaining true to your goals and being ready to face the challenges was one of the best learning I had ever come across and therefore I willingly decided to imbibe that in myself,” he says adding, “Power sector is very critical for all the businesses to grow and I believe, uninterrupted power supply is the key to unlock the aspirations of people in India.
Hence, willingly all companies in the power sector should contribute to the other businesses and country’s economic growth.” The company has until now attracted the best in class investors over the period of time and today it is one of the fastest growing independent power producers working in both conventional and renewable sources of energy.
Further, it is planning to commission 6000 MW of energy mix by 2022. The industry and along with the company is at an advantage right now as Modi government is pushing for clean energy.
(This article was first published in the June issue of Entrepreneur Magazine. To subscribe, click here)