Dr. Faruk Patel
Dr. Faruk Patel | |
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| Born | March 24, 1972 |
| Nationality | Indian |
| Other names | Faruk KP |
| Citizenship | India |
| Occupation | Entrepreneur |
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| Height | 5 ft 5 in (165 cm) |
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Dr. Faruk Patel (born 24 March 1972) is an Indian entrepreneur, founder, and CMD of KP Group of Companies,[1] known for its advancements in the telecommunications and renewable power sectors.[2] Dr. Patel currently serves as the Advisor of the Renewable Energy Committee and a member of the managing committee at SGCCI. Under Dr. Patel's leadership, KP Group which today comprises 35 companies has grown to become one of the leading umbrella firms in India with a market cap of over Rs. 4,737+ crore as of 28th August, 2023.[3][4] The groups combined turnover has crossed to over 1203+ Crores as on FY-23.
Early life and education
Dr. Patel was born on 24 March 1972 in Saladara Village in Bharuch to Gulam Patel and Rashidaben. He grew up in a lower-middle-class family where his father worked as a bus conductor for GSRTC. Earlier the family lived in Tralsa Kothi village of Bharuch, but in 1974 they shifted to Surat when Dr. Patel was two years old and they rented a one-room house in Adajan.[5]
Dr. Patel initially studied at Surat Municipal Corporation school in Kanbiwad Bhandari Mohalla, where he was highly acclaimed by his teacher Shantaben, who advocated him to be shifted to VD Desai Vadiwala School (Bhulka Bhavan), where he completed the rest of his schooling. In order to help his family financially, Dr. Patel moved to Mumbai and began learning about import-exports along with working as an optician to earn extra money. Dr. Patel after returning from Mumbai joined Hafiz Brothers to gain more experience in the textile industry and pursued a diploma in Textile Engineering at MANTRA - Manmade Textile Research Association.[6]
Career
In 1993 Dr. Patel started a carting business and supplied materials to companies right from Hazira to Bharuch which he ran for about eight months saving money to start the KP Group.[7] Dr. Patel established KP Group over two decades back, investing a saved capital of 1 lakh rupees. KP is derived from his native village Kothi and his surname Patel. With utmost determination and hard work, he turned his entrepreneurial venture to become a multi-crore rupee umbrella firm having two listed entities - solar power developer KPI Green Energy and wind energy projects developer KP Energy Ltd.[8]
He realized the future of communication and the requirement of towers, henceforth he expanded his business to 16 states of India. After 13 years in business, the visionary felt a need for diversification and ended up foraying into the renewable energy sector. His first venture was solar power, wherein in 2008 he established KPI Green Energy, and then another in wind power with KP Energy in 2010.[9]
Initially, he acquired 220 acres of land in Sudi, Bharuch for the development of Solar Park, which he has expanded to over 2000+ acres and currently equips 101+ MW Gujarat’s largest private solar park. This arm of the KP Group has also been listed and actively traded on NSE and BSE. As of 2022, KP Energy has a portfolio of 726+MW of EPC business, 1031+MW projects in pipeline, and listing in BSE.[10]
Under the parent business KP Buildcon Pvt. Ltd., which is now known as KP Green Engineering Pvt. Ltd., Dr. Patel began his company's operations in the construction area before progressively expanding into mobile phone tower installation. After completing hundreds of projects in 16 states throughout India over 13 years, Dr. Patel decided to diversify and launched KPI Green Energy Ltd. (formerly known as KPI Global Infrastructure Ltd) (KPIGEL), a solar power company, in 2008, followed by KP Energy Ltd (KPE), a wind energy company, in 2010. Both businesses are largely focused on Gujarat and have a track record of success. Under his leadership, KP Buildcon today has become a 54,000 Metric Tonnes company.
KPIGEL currently owns more than 339+ MW of solar power projects in the Bharuch villages of Sudi, Bhimpura, Tanchha and other locations, and is building another 384+ MW of projects that are either under construction or in the planning phases. Dr. Patel has set a lofty goal of creating 1,000 megawatts of solar electricity by 2025.[11]
KP Energy, on the other hand, provides end-to-end turnkey solutions for wind power projects. Currently, the corporation is in charge of 312+MW of wind power generation. It is also working on the CLP India-awarded 250.8 MW project near Dwarka, which would be completed in 2023. It has a total order book of over 1.18+GW that will be completed in the next two and a half years.[12]
Social
Dr. Patel is very active in social proceedings, as actively participating in various social causes with his non-profit organization - KP Human Development Foundation. The organization since 2015 is involved in various humanitarian work in the fields like education, health, environment, etc. during the covid pandemic too KPH performed many humanitarian works on the lines of donating medicines and medical equipment in Bharuch. In order to protect the environment they have planted 1 lakh mangroves along Porbandar coast. KPH has adopted two local schools in Surat to provide quality education to the students. KPH along with the Forest Department is working on conservation of the sea shores of Surat by planting 300000 mangroves in an area of 10+ Hectares.[13]
Awards and recognition
- 2018: Legends of Surat (Gujarat Mitra)
- 2018: The Leaders (Mantavya News)
- 2018: Times Business & Education Icons
- 2019-20: Patel received an appreciation certificate for his unprecedented social work to the society from the commissioner of Surat Mahanagar Palika & Surat Collector.
- 2023: Rotary Lamhe Awards, for excellence in overall societal development by Rotary Club of Gandevi.
- 2023: IPOPreneurs Award – Awarded for having KPI Green Energy and KP Energy listed to SME board initially and then main boards of NSE & BSE by SGCCI (South Gujarat Chamber of Commerce and Industries)
- 2023: Conferred Honorary Doctorate Degree by American East Cost University, New York, USA.
In the media
References
- ↑ "From Surat to the White House KP Group's renewable energy fuels Greenlab Diamond's 7.5 Carat Diamond to the First Lady of The US". The Week. Retrieved 18 July 2023.
- ↑ "Affan Faruk Patel". bloomberg. Retrieved 20 March 2022.
- ↑ "Best Solar Company in Surat, Gujarat | KPI Green Energy". www.kpigreenenergy.com. Retrieved 23 December 2022.
- ↑ "Faruk G Patel". digitalmag.theceomagazine.com. Retrieved 13 December 2022.
- ↑ "From a Lakh to 165 crores: Faruk Patel's inspiring journey,which has just begun!". business-standard. Retrieved 20 March 2022.
- ↑ "Surat Industrialist Hosts 5-Star Lunch for Specially-Abled Kids, Old-Age Home Residents to Mark Son's Wedding". edtimes. Retrieved 20 March 2022.
- ↑ "From Surat to the White House: KP Group's renewable energy fuels Greenlab Diamond's 7.5 Carat Diamond to the First Lady of The US". ptinews.com. Retrieved 18 July 2023.
- ↑ "K.P. ENERGY LIMITED - Company, directors and contact details | Zauba Corp". www.zaubacorp.com. Retrieved 20 March 2022.
- ↑ "Meet Faruk Gulam Patel, son of bus conductor, once worked in a cafe, later founded Rs 2000 crore business empire". DNA India. Retrieved 18 July 2023.
- ↑ Focus, ABP Live (7 June 2023). "KP Group's Faruk Patel: Championing A Better Environment For Future Generations". news.abplive.com. Retrieved 18 July 2023.
- ↑ "KP Group is moving fast in the solar sector, receiving another large order of 12.50 MW CPP". ANI News. 13 July 2021. Retrieved 20 March 2022.
- ↑ "Who Is Dr Faruk Gulam Patel? A Bus Conductor's Son Who Once Worked In London Café, Today Owns Rs 2,500 Crore Business Empire - Bharat Times English News". eng.bharattimes.co.in. 7 July 2023. Retrieved 18 July 2023.
- ↑ "Who Is Dr Faruk Gulam Patel? A Bus Conductor's Son Who Once Worked In London Café, Today Owns Rs 2,500 Crore Business Empire". Zee News. Retrieved 18 July 2023.