36th anniversary: business tycoon
Ashok Patni, 69 years Suresh Patni, 66 years Vimal Patni, 56 years
Company: R.K. Group
Total assets: 7,200 crores (Only from Cement business)
where do you invest
Patni brothers invest in quality and believe business success comes from giving your best in a transparent manner
Ashok, Suresh and Vimal, three Patni brothers from Khandach village in Rajasthan, who do wholesale grain business, had recognized the possibilities of marble mining in the eighties itself. In 1993, with a well-thought-out strategy of taking mines on lease in Morwad, along with acquisition of two mines in Vietnam and imported equipment, he not only changed his fortunes but also that of Kishangarh, making it the Marble City of India. As a result, the luster of the business of Makrana Marble faded relatively.
Kishangarh, with a population of two lakh, located 25 kilometers east of Ajmer on the Jaipur highway, today has 6,500 marble businesses, 2,000 plants and 40,000 employees and middlemen. Marble is not produced here, but due to marble itself, buyers have started forgetting the nearby Makrana quarries, which once had its only market and quarries.
As the younger generation progressed, after 2006 the group shifted from domestic marble manufacturing to import-export business. It produces two-thirds of marble in Vietnam and exports to 75 countries. It is handled by Suresh’s sons Vikas, 42, and Vinay, 37.
R.K. The group’s chairman Ashok’s son Vineet, 43, launched Nineteen Degree Stones, which sells a wide variety of fine quality lightweight Indian stones. He also has the franchise of Bodyshop, Kiel and Levon in India. In addition, he launched Bodace, a platform selling 200 different brands. Youngest brother Vimal’s sons Vivek, 30, and Rishabh, 27, handle Wonder Cement, which is the fastest-growing product and accounts for the largest share of the company’s turnover and assets.
The group’s latest venture Wonder Home Finances reached out to 7,648 customers and disbursed loans worth Rs 633 crore in four years through 60 branches in seven states. The average loan amount is Rs 9.50 lakh. “We give loans to those who can’t get it anywhere else,” says Ashok Patni. His Rs 200-crore plant to make putty will be operational in November. It is in Nimbahera. This is where they have their cement plant, which has grown from 3.5 million tonnes to 18 million tonnes per annum.
Work is divided in the family—Ashok is the public face of the group, while Suresh handles sales and Vimal, now with mining, also cement production. But every single decision is taken by consensus. Ashok and Suresh live in Ajmer, while Vimal lives in Udaipur, closer to the marble and cement quarries and plants. The family also owns a house in Jaipur.
“Small towns like Kishangarh have issues of not having good schools, but still we all stick to it,” says Vineet. As the family grows, they plan to buy another house similar to the existing one in the same compound in Kishangarh. are making. Ashok Patni tells how he used the profits to expand, expand into other sectors, invest in new businesses. “We have never ventured into the stock market,” he says, so it is difficult for him to assess his wealth.
“You can say we invest in quality,” says Vimal, who believes that giving one’s best in a transparent manner is essential for the success of any enterprise. Recently, they put price barcodes on their products to eliminate the scope of bargaining.
The family owns a helicopter apart from several cars including sports and luxury cars. The family avoids the glare. The final decision on all matters is taken by Ashok Patni.