Imagine constructing India's biggest dams, hotels, bridges and express routes. Today they are facing almost 57,000 crore debt and are not able to repay the amount. All their ventures are in trouble and work has been halted across many sectors. Once upon a time, they were market leaders, the government's most trusted construction companies, which most of the contracts have been given to them. From Sardar Sarovar Dam to Yamuna Expressway and dominating the Noida and Delhi regions with their exceptional quality of work.
They held command over sectors like hydropower, thermal power, the cement industry, hospitality, hotels, F1 racing tracks, resorts, real estate, as they had a massive amount of land bank. This made them one of the top companies in India. Their journey began with humble beginnings and now why they are suffering with almost 57,000 crore debt and liabilities.
Jaiprakash guar was born in Uttar Pradesh in a small town. His father was a farmer, making his life critical since his childhood and hard work was built in his blood. Eventually, while helping his father, he completed his education and earned a government job as a junior engineer through his merit. Where he worked rigorously and learned all the skills required for construction and building dams. His work experience made him an expert engineer, and finally a day arose. Due to the rigid system of government, he took a firm decision to quit his precious government job. He started his own construction business, with only 3 employees and close associates. The initial work was tough but his work and experience made him extraordinary in his niche.
Slowly his reputation grew across the U.P from small to big contracts and building dams for the government of India. The real breakthrough came when they received the Yamuna expressway contract from the Uttar Pradesh government. This made them really popular and gained massive wealth from Delhi to U.P over one of the biggest routes, where the properties and land rates boomed after their project.
The legacy he built, from humble beginnings to building reputation for generations. The real downfall occurred when he became aged and reached 75 years. Eventually his next generation took over his legacy and continued his business. The fate had a different direction. Slowly businesses which were on the top, stopped receiving the funds. As they were reputed, many banks gave huge loans but when they couldn't repay the money, the same banks threatened them with court cases and which made them reach up to 57,000 crore debt. All the projects stopped working and lost their presence, making it hard to survive. A legacy which was built, is now suffering with deep bankruptcy along with debts and financial pain.
