2/13/2014
How IITian Rahul Gupta built RaysExperts, a multi-crore solar power company in less than 3 years - The Economic Times
You are here: ET Home New s Emerging Businesses Startups
How IITian Rahul Gupta built RaysExperts, a multi-crore solar
power company in less than 3 years
Post a Com m ent
By Amit Kumar, ET Bureau | 10 Feb, 2014, 11.02AM IST
In 2009, Rahul Gupta was worried that his marks would rule out a job during campus
placements at IIT Roorkee. So, instead of preparing for interviews, he sat reading a newspaper
in his room, whereby he came across an article on the setting up of a solar plant in Amritsar.
By the time he finished reading it, he was convinced that solar power was his calling. Since the
last semester was relatively relaxed, he devoted his time to conducting research on the sector.
He soon discovered a classmate who was equally interested in it, and the duo took a trip to
Rajasthan, his home state, for more research in December 2009. The two soon made up their
minds to start a small solar plant.
"Thermal power fetched a profit of Rs 3 per unit, but solar power got Rs 18 a unit," says Gupta.
Before returning to the campus, they had registered their venture, Rays Power Projects, in
Jaipur.
Today, Gupta manages three projects, spanning 500 acres
in Bikaner, collectively producing 55 MW.
Editor's Pick
However, they faced their first setback when they learnt that they would need Rs 1.37 lakh to
apply for a tender. "Since we knew everything about the sector, we decided to help other
companies install solar plants in Rajasthan while waiting to drum up the cash," says Gupta.
How Narendra Barhate's SEED Infotech
leveraged learning solutions to be a Rs
58 cr venture
After graduating in April 2010, the duo shifted base to Jaipur and started working as full-time
consultants. They soon bagged their first client, whom they helped set up a 1 MW project in
Jaisalmer.
ET SPECIAL: Save precious time tracking your
investments
Once they managed to save the required amount, they applied for the tender of a project, which was to be commissioned by March 2012. The
estimated cost of the project was nearly Rs 12 crore, but they were confident of raising the money. "In mid-2010, there was an expansion of
solar power sector in Rajasthan. This was a boon for our consultancy business," says Gupta.
However, due to a difference of opinion with his partner, he left the company in March 2011, taking Rs 13 lakh as his share. He relocated to
Delhi, changed the business model for his new venture to engineering, procurement and construction for solar companies, and set up
RaysExperts three months later. Before the end of the year, he had eight companies as clients.
Then, in early 2012, he decided to revisit his solar park dream. He figured his firm would take care of all the details, from procuring the tender
to setting up the project and its maintenance, while investors would hand him the money. He bought land in Bikaner and set up a 2 MW solar
park, which opened in October 2012. By the end of the fiscal year, the revenue was Rs 80 crore.
Today, Gupta manages three projects, spanning 500 acres in Bikaner, collectively producing 55 MW. As maintenance fee, he charges Rs 8
lakh per MW, per client, annually. In October 2013, he started his own 250 KW plant. The 120-employee company is eyeing a turnover of Rs
350 crore in this fiscal year.
SIGN UP FOR FREE WEALTH MAILER.
Regular source of Personal Finance Knowledge.
Enter your e-mail...
SUBSCRIBE
Home | New s | Markets | Personal Finance | Mutual Funds | Infotech | Jobs | Opinion | Features | Videos | My Portfolio | Budget 2013
Live Market
New s
Portfolio
Mobile
Live TV
New sletter
Commodities
Speed
QnA
Blogs
Alerts
Other Times Group news sites
Living and entertainment
Hot on the Web
Services
Times of India |
| Mumbai Mirror
Times Now | Indiatimes
|
| Lifehacker
Timescity | iDiva | Bollyw ood
Zoom | Healthmeup | Luxpresso
Technology | Guylife | Online
Songs
Valentines Day | Grand i10 Price
Valentines Day Parties in
Mumbai | Sunny Leone Photos
Used Cars in Chandigarh | Bike
Price India
Book print ads | Online shopping | Free SMS | Website
design | CRM | Tenders
Matrimonial | Ringtones | Astrology | Jobs | Property | Buy car | Bikes in
India
Used Cars | Online Deals | Restaurants in Delhi | Movie Show Timings in
[Link]
1/2
2/13/2014
Gizmodo | Eisamay | IGN India
NavGujarat Samay
How IITian Rahul Gupta built RaysExperts, a multi-crore solar power company in less than 3 years - The Economic Times
Networking
itimes | Dating & Chat | Email
[Link]
Mumbai
Remit to India | Buy Mobiles | Listen Songs
About us / Advertise w ith us / Terms of Use and Grievance Redressal Policy / Privacy Policy / Feedback / Sitemap / Code of Ethics
Copyright 2014 Times Internet Limited. All rights reserved.
[Link]
2/2
