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| SPECIAL SERIES Kumar Mangalam Birla,
32 MAN IN A HURRY Push him and he'll quote his father: "Small details make for perfection, and perfection isn't small." The A.V. Birla Group has the father's name, but it's the son who is moulding it in a way that's become boardroom talk. Since father Aditya died in 1995, Kumar Mangalam has held together more than 30 companies with sales of Rs 25,000 crore a year -- it is India's second largest business group -- after few gave him a chance. He is forcing management professionalism and introducing a new statute in the Birla book of business by putting the interests of customers and shareholders ahead of promoters'. "He is firmer and less sentimental (than his father)," says management guru M.B. Athreya. That means cutting flab and rule by patronage. Kumar isn't shy of shedding companies that don't make money, or sense. He's diversifying from commodity-driven interests -- the flagships are Hindalco, Grasim, Indian Rayon and Indo-Gulf -- into software, insurance, finance and infrastructure. "I can't afford to lose any time," he allows, "to grab every opportunity." -Sheela Raval |
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