Ashoka: The New Emperor

Niikhil Ballal

This titan’s life resembles a typical Bollywood film. Ashok Katariya, whose childhood witnessed poverty at its best, is now an international name in infrastructure. Ashoka Buildcon has not only constructed the highways, but also has successfully completed many governmental contracts too. Spreading its wings internationally, they are now venturing in South Africa and Maldives. Ashok Katariya, who now enjoys being an educationist, gets candid with KYT’s Executive Editor Nikhil Ballal.

 How did you build the huge empire of Rs 3000 crores from literally scratch of Rs 5000?

Dream big can be the shortest answer to that. I use to idolize companies like L&T and Gammon in my childhood. Today I am happy that we are sharing market with them.  Presently, we are working on infrastructure projects in eight states of India and also have undertaken overseas projects in Maldives and South Africa.  The Company which began its journey as a small time contracting firm which executed jobs for local government bodies, later ventured into industrial and institutional buildings and diversified into PPP(Public Private Partnership) based projects. Hardwork, determination and the urge to excel helped us grow to this level.

Did you always dream to be a businessman?

I belonged to a very poor familyduring wherewe only inspired to get two meals in a day. I lost my mother at the age of five. My father looked after me and my four sisters. I am the youngest of the siblings.  After school, I would help my father in selling foodgrains which managed us to make only Rs 2 to 3 per day. My father would always plead to my neighbours to lend us grocery. Many a times he would get insulted by them. At early age in my life I realised that education was the answer to all the financial problems and humiliations faced by my family. So, I started studying hard and won many scholarships which funded my education. The struggle that I went through perhaps made me feel that I must enter in some business.

 

 

What made you choose engineering?

During those days one of our relatives was a civil engineer. He was financially sound and also had respect in the society. I felt this profession can give me and my family also that respect which we had been deprived of for so many years. So, I selected this particular branch of engineering. By merit, I got admission in Fergusson College in Pune and graduated in 1973. It was tough time in collegeas my father got a job opportunity in Nashik and I was compelled to stay ina hostel. I had to manage all by my own.  Hostel and college was a distance! I had to walk down six kilometres every day. We couldn’t afford even a second hand bicycle then.  Finally my father managed to get me one. Although today I have a fleet of luxurious cars, the excitement however still does not match with the feelings when I was awaiting to catch the first glimpse of the second hand bicycle that my father brought for me.

How did your career kick-start?

I immediately got a job at the Public Health Department for a monthly salary of Rs 240. I took up another part-time job with a property developer in Pune to double the income in order to help my family and I continued to do so till 1975.Eventually, I decided to start something of my own. I borrowed Rs five thousand from my father-in-law and friends to bid for a construction project worth Rs 56,000.

It involved building a small shop for a government department within sixmonths. I bid for itsuccessfully and completed the work in a record time of four months. I made a modest profit of Rs 5,500 which boosted my confidence. The officers were happy with my work and started giving me similar projects. I partnered with another engineer and registered my company as Ashoka Construction.

What was the turning point of your career?

After a series of projects, I created goodwill in the market. In 1979, we got a contract worth Rs 10 crore for constructing 43 bungalows for the senior MSEB officials. This was the turning point of my career. The project went off so well that I become a family member of all MSEB officials. We were lucky as the companies whom we idolized like Gammon India and L&T had also bid for the project. Despite the stiff competition, we cracked the deal. Perhaps our track record of delivering the project before time helped us to clinch the project. After the completion of this project, we developed a good repute in the market and started getting offers. My wife has played a significant role in my success.

Which was the most challenging phase of your life?

Life was full of challenges since my birth andI got used to overcome them. It made us so tough that it helped us in our business. We were the first one to get a contract from CIDCO. We were so excited that without understanding the ground reality we took the offer. And that was the biggest mistake of our life. We were not only harassed by the local community but it also ruined us. This huge set back brought us back to square one.

How did you overcome this unforeseen debacle?

We started afresh and bounced back by bagging contracts of construction of industrial and institutional buildings. The industrial boom and the quality of work done by Ashoka, opened doors for the company to clinch construction projects of prominent brands in the industrial sector.  We have set up plants and factories of many reputed business houses of India. Finally In 1993, Ashoka Buildcon Limited was incorporated as private limited company.

Later in 1996, we diversified into PPP based highway development projects. It paved way for our growth in the infrastructure development sector and we have in our profile some of the most challenging projects completed successfully.

In 2002, Ashoka Buildcon was converted into a Public Limited Company and in 2010,the company got listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) as well. This was also the year when the company began executing Power transmission projects.

Ashoka Group has diversified interests today. How did all this happen?

We are into organic farming and also educational institutions. Presently,I am enjoying the role of an educationist more. It gives you immense satisfaction to see children grow and live a quality life. I feel everyone has potential but very few people explore it. Currently, when my son and daughter are looking after my businesses, I am busy making my children better citizens of tomorrow. For me, infrastructure is not mere construction of roads and bridges, but also of developing institutions and concepts that will usher the country in a bright future.