Prasad had Midas touch

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Nimmagadda Prasad, better known as Matrix Prasad, has a phenomenal success story. Known to have been close to both former Chief Ministers — N. Chandrababu Naidu and Dr Y.S. Rajasekhara Reddy — Mr Prasad’s business is spread across pharma, media, software and infrastructure companies.

Son of an Army officer, Mr Prasad was born in 1961 in Krishna district. He graduated in science from the Babu Jagjivan Ram College in the city and did his M.Sc from the University of Delhi. He also holds a PG diploma from the Institute of Management Technology, Ghaziabad and is on the executive board of the In-dian School of Business. Starting his career as a management trainee in Indian Molasses Company, Delhi, in 1984, Mr Prasad worked as a salesman at Rhone Poulene Chemicals.

After joining Vorin Laboratories as general manager, marketing, in 1993 he was elevated as MD in 1995 when Ranbaxy acquired it. His success graph in business began in 2000 with the acquisition of a sick pharmaceutical company, Herren Drugs and Pharmaceutical, which he renamed Matrix Laboratories. He sold his stake in Matrix to a US-based company and grew richer by Rs 570 crore.

Mr Prasad was awarded “Fastest Wealth Creator” award consecutively by Motilal Oswal Securities for three years from 2004 to 2006. The state government also honoured him with the “Best Management Award” in 2006. The Nimmagadda Foundation promoted by Mr Prasad works in health care, education and empowerment. He owns stakes in Maa TV as well.

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