Construction Business
It was in the construction business, first as a railway contractor, and then, as a contractor to other departments of Government, that Phatak-Walchand private limited (partnership till 1915) made money. Phatak left the firm after it bought a foundry and undertook a mining lease, with the view that it was stretching itself into too many areas. Meanwhile, the firm found it difficult to bag larger contracts due to small size and absence of marquee names. It was merged into Tata Construction Company in 1920 to overcome these problems. Some of the major projects executed by the company include the commissioning of the tunnels through the Bhor Ghats for a railway route from Mumbai to Pune and laying of water pipes from Tansa lake to Mumbai and also laying tracks for Barsi Light Railway. Other major projects executed by the firm include the Kalabag Bridge over Indus and a bridge across the Irrawaddy River in Burma. All these projects were directed by Walchand. In 1929, he became the Managing Director of the company. In 1935, the company was renamed as Premier Construction to reflect the fact that Tatas had sold their stake in the firm to Walchand. Other construction company he founded was Hindustan Construction Company in 1926, which is today one of the civil & engineering construction giants of India.
Read more about this topic: Walchand Hirachand
Famous quotes containing the words construction and/or business:
“There’s no art
To find the mind’s construction in the face:
He was a gentleman on whom I built
An absolute trust.”
—William Shakespeare (1564–1616)
“This whole business of Trade gives me to pause and think, as it constitutes false relations between men; inasmuch as I am prone to count myself relieved of any responsibility to behave well and nobly to that person who I pay with money, whereas if I had not that commodity, I should be put on my good behavior in all companies, and man would be a benefactor to man, as being himself his only certificate that he had a right to those aids and services which each asked of the other.”
—Ralph Waldo Emerson (1803–1882)