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Shri. Sumant Patel
 

1. After graduating from the University of Pennsylvania, Mr. Sumant Patel joined Nesco Ltd (then known as New Standard Eng. Co. Ltd.) in 1959. Soon after his return, New Standard Eng, which was a private limited Company till then, became a public limited company and announced issue of equity shares to public, which issue was oversubscribed several times.

2. At that time Nesco had three engineering units working in different parts of Bombay. Sumant Patel then played a major role in purchasing about 65 acres of land at Goregaon in Bombay’s western suburbs, and centralizing all Bombay units in one place at Goregaon, Bombay. Several units were set up in this new Goregaon complex, manufacturing for the first time new items of engineering capital equipment in alliance with world leading companies.

In 1962, Mr. Sumant Patel established the industrial complex at Karamsad, Gujarat, starting with Gujarat Machinery Mfrs Ltd, now known as GMM Pfaulder Ltd, a company which is today the leader in India in the field of glasslined equipments.

He also founded Indabrator Limited in Mumbai in 1964 as a joint venture with the Wheelabrator Corporation, USA, which is the leader in India in the field of metal cleaning & surface preparation systems.

3. From a purely engineering Company, Mr.Patel then transformed Nesco to a divertisified Company. In 1991, Mr. Patel established the Bombay Exhibition Centre at Mumbai which is the largest exhibition centre in the private sector in India.

An Information Technology Park was established to provide space to IT Companies.

Now Nesco operates in three diversified business segments.

4. Nesco has been listed as one of the 15 companies which have given a  compounded annual return of 50% or more between 1998 and 2008, and as one of top 500 companies in India. Quoted on Bombay & National Stock Exchanges, Nesco has significant market capitalization.3. From a purely engineering Company, Mr.Patel then transformed Nesco to a divertisified Company. In 1991, Mr. Patel established the Bombay Exhibition Centre at Mumbai which is the largest exhibition centre in the private sector in India. An Information Technology Park was established to provide space to IT Companies. Now Nesco operates in three diversified business segments.

5. Some of the other responsibilities handled by Mr. Patel were: President, All India Manufacturers Organization;  Member, Engineering Export Promotion Council; Member, Productivity Board for Industrial Machinery; Member, Board of Trade; Chairman, Textile Machinery Manufacturers Association (India); Member, Textile Machinery Development Council; Leader, Textile Machinery Industry Delegation to Tanzania & Nigeria.

Mr. Patel is a Trustee of Charutar Vidya Mandal; Member of Board of Management of College of Engineering & Technology; Managing Trustee of J V Patel Foundation and other Charitable Trusts which have established an English medium high school; an Industrial training institute; a ladies hostel; a cardiac ICU, etc.

 
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