Forging Mettle: Nrupender Rao and the Pennar Story

The endless possibilities of a value-driven enterprise

Most business leaders trace their journeys on their balance sheet, counting how their profits have grown under their business acumen and the speed with which they accumulate fame, fortune and sometimes a cult of personality.

A first-generation entrepreneur, Nrupender Rao's story is as unique as they come. Born to a politician father, J.V. Narsing Rao, who served as deputy chief minister of Andhra Pradesh, Nrupender took the non-obvious path to his dreams, first at IIT Kharagpur, followed by a master's degree at Purdue University and a corporate career that included stints at National Cash Register, Coromandel Fertilisers and Union Carbide.

When he took the leap of faith in 1987, buying the lossmaking Pennar Steels and hoping to turn it profitable, many thought it wasn't a wise decision. Decades later, the Pennar Group is an established name in diversified ventures that range from environment projects, solar projects, steel guard rails, railway coaches and infrastructure components.

In Forging Mettle, senior journalist Pavan C. Lall tells the story of Nrupender Rao and his entrepreneurial journey. It's also the story of how a business built with ethics and social and environmental concern at the core of its values can indeed be profitable and sustainable.