http://www.lancogroup.com/
Lanco Infratech Limited is a large Indian business conglomerate involved in construction, power, real estate, and several other segments. It was founded in 1986 by Industrialist turned politician Lagadapati Rajagopal - currently a member of 15th Lok Sabha representing Vijayawada.
In 2010, the group of companies was listed among the fastest growing in the world. In 2011, the group became the largest private power provider in India.However, its key businesses have been frequently involved in a number of controversies. In 2007, Managing Director G.V. Babu was caught at an airport with a suitcase containing Rs. 34 lakhs (about 90,000 USD) in unaccounted cash. Repeatedly tarnished by charges of corrupt practices and contract irregularities, the company ran into financial trouble and has filed for Corporate Debt restructuring in July 2013.
Lanco was founded by a businessman with entrepreneurial acumen turned politician Lagadapati Rajagopal, who is currently a member of 15th Lok Sabha representing Vijayawada. While Rajagopal remains the chairman, his brother Lagadapati Madhusudan Rao is the executive chairman. Another brother Sridhar Lagadapati, was involved with the company in the early years, but now heads the related entertainment business, Larsco.
Lanco grew at a tremendous pace since the early 1990s, after Rajagopal married the daughter of veteran Congress leader P. Upendra, and joined politics himself. Initial growth was driven by large contracts primarily in construction. Later, other infrastructure areas such as power generation, transportation etc. were also added.
Lanco Infratech Limited is a large Indian business conglomerate involved in construction, power, real estate, and several other segments. It was founded in 1986 by Industrialist turned politician Lagadapati Rajagopal - currently a member of 15th Lok Sabha representing Vijayawada.
In 2010, the group of companies was listed among the fastest growing in the world. In 2011, the group became the largest private power provider in India.However, its key businesses have been frequently involved in a number of controversies. In 2007, Managing Director G.V. Babu was caught at an airport with a suitcase containing Rs. 34 lakhs (about 90,000 USD) in unaccounted cash. Repeatedly tarnished by charges of corrupt practices and contract irregularities, the company ran into financial trouble and has filed for Corporate Debt restructuring in July 2013.
Lanco was founded by a businessman with entrepreneurial acumen turned politician Lagadapati Rajagopal, who is currently a member of 15th Lok Sabha representing Vijayawada. While Rajagopal remains the chairman, his brother Lagadapati Madhusudan Rao is the executive chairman. Another brother Sridhar Lagadapati, was involved with the company in the early years, but now heads the related entertainment business, Larsco.
Lanco grew at a tremendous pace since the early 1990s, after Rajagopal married the daughter of veteran Congress leader P. Upendra, and joined politics himself. Initial growth was driven by large contracts primarily in construction. Later, other infrastructure areas such as power generation, transportation etc. were also added.