Corporatizing Family Business

Corporatizing Family Business
30/04/2018 , by , in Interview Old

An IT engineer, Abhishek Kumar Agarwal, Director, Lotus Group of Companies entrepreneurial zeal led him to manage the family business and gradually take it towards a more corporate structure to keep up with the changing times.

The Lotus Group office on the top floor of their commercial building gives the feel of a professionally managed company with its open space planning, glass partitions and conveniences designed for the employee comfort. Abhishek elaborating on the same said, “Having visited offices of many of my peers in the real-estate, I felt that their office atmosphere seemed secretive. Therefore, in our own office I made sure it was planned in such a way to give a feel of transparency and open work culture.”

I am following my grandfather’s teachings of realizing one’s core competency and working towards creating an expertise on the same. The times may change and technologies may advance but the basic values remain true for all the generations.

Giving a brief on the journey of the company, Abhishek gives the credit of establishing the diversified business to his uncle Ashok Agrawal. “He was the first generation entrepreneur who started with import and export of building materials like stone, tiles, wood, laminates etc. in 1993 and then becoming the manufacturer of ply boards, setting up energy plant based on low ash metallic coal and eventually foraying into the real-estate vertical in 2005. So the company not only diversified in terms of business verticals but also changed the business roles over the years.”

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Corporatizing Family Business

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