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Managers
Indian entrepreneurs
Hall of fame

Aniruddha Dange, CFA
Head of India Research aniruddha.dange@clsa.com (91) 2256505060

Anshu Govil
(91) 2256505059

February 2006

India
Strategy
Our Indian entrepreneurs Anand Mahindra Anil Agarwal Dhirubbhai Ambani Dilip Shanghvi Ekta Kapoor Gautam Thapar Jignesh Shah Kiran Mazumdar Shaw Kishore Biyani NR Narayana Murthy Raghav Bahl Rajiv Bajaj Rajiv Mody Sanjay Labroo Sanjiv Bajaj Tulsi Tanti Vijay Mallya

Banking on people
Going beyond numbers www.clsa.com Find CLSA research on Bloomberg (CLSA ), firstcall.com, multex.com, and use our powerful CLSA evalu@tor® database at clsa.com

Indian entrepreneurs

Contents
Foreword .............................................................................................3 Banking on people ................................................................................5 Dhirubhai Ambani, Reliance group......................................................... 11 NR Narayana Murthy, Infosys ............................................................... 15 Anand Mahindra, M&M ......................................................................... 23 Anil Agarwal, Vedanta Resources........................................................... 29 Dilip Shanghvi, Sun Pharma ................................................................. 35 Ekta Kapoor, Balaji Telefilms ................................................................. 43 Gautam Thapar, BILT and Crompton Greaves .......................................... 49 Jignesh Shah, Financial Technologies ..................................................... 57
See the inside back cover for a key to our corporate kaleidoscope

Kiran Mazumdar Shaw, Biocon .............................................................. 65 Kishore Biyani, Pantaloon..................................................................... 73 Raghav Bahl, TV18 .............................................................................
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