Sahara Group founder Subrata Roy dies aged 75
PTC Web Desk: Subrata Roy, the visionary behind Sahara India Pariwar, passed away on Wednesday, November 14, at the age of 75 while receiving prolonged treatment at a private hospital in Mumbai.
Hailing from Araria, Bihar, born on June 10, 1948, Roy was a prominent figure in India's business realm. He built an expansive empire across finance, real estate, media, and hospitality sectors.
Sahara India Pariwar said in a statement, “It is with profound sadness that Sahara India Pariwar informs the demise of our Hon’ble ‘Saharasri’ Subrata Roy Sahara. Saharasri ji an inspirational leader and visionary, passed away on 14th November 2023 at 10.30 pm due to cardiorespiratory arrest following an extended battle with complications arising from metastatic malignancy, hypertension, and diabetes.
Roy's Remarkable Journey: From Engineering to Building an Empire
Subrata Roy embarked on his journey with a mechanical engineering degree from the Government Technical Institute in Gorakhpur.
He delved into business in Gorakhpur before seizing control of Sahara Finance, a struggling chit fund company, in 1976.
By 1978, he metamorphosed Sahara Finance into Sahara India Pariwar, eventually becoming one of India's leading conglomerates.
Under Roy's guidance, Sahara diversified extensively. They launched Rashtriya Sahara, a Hindi language newspaper, in 1992. The ambitious Aamby Valley City project near Pune took shape in the late 1990s. Sahara also ventured into television with Sahara TV, later rebranded as Sahara One.
In the 2000s, Sahara's global presence soared with acquisitions of renowned properties like London's Grosvenor House Hotel and New York City's Plaza Hotel.
- With inputs from agencies