Bangur is the chairman of Shree Cement, one of the three biggest cement groups in India. The Kolkata-based company has annual production capacity of more than 37 million tonnes and reported revenue of $1.8 billion in the year to March 31, 2019. About one-seventh of its sales comes from its power division.
Benu Gopal Bangur's net worth of $7.83B can buy ...
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The majority of Bangur's fortune is derived from Shree Cement, an Indian cement manufacturer. The publicly traded company is one of the three biggest cement groups in India and has annual production capacity of more than 37 million tonnes, according to its website.
He controls a 65% stake through a promoter group, which includes family members and holding companies, according to a September 2019 filing with the Bombay stock exchange. Bangur is credited with the entire stake to reflect his status as chairman and founder.
The value of his cash holdings is based on an analysis of share sales, dividends, market performance, taxes and charitable contributions.
Shree Cement didn't respond to phone requests for comment on Bangur's net worth.
Benu Gopal Bangur was born in India into the Kolkata-based industrial Bangur family in 1932. He studied communications at Calcutta University. When his family split its assets into five branches in 1991, Bangur inherited much of the cement division from his grandfather, Mugni Ram Bangur, and created Shree Cement.
He served as the executive chairman of Shree Cement until January 2012, when he handed the management of the company to his son Hari Mohan, who had been managing director. The Kolkata-based cement maker had a 6 percent share of the Indian market in 2013 and has an annual capacity of 17.5 million tons, according to its annual report.
Bangur lives in Kolkata with his family.