Once the whole family used to live in ₹ 50, today the business is worth crores, yet this millionaire travels by local train
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Who is A. Velumani?
Velumani Arokyaswamy was born in the year 1959 in the family of an ordinary farmer. Velumani’s father, who lives in Coimbatore, Tamil Nadu, did not even have his own land. A time came when the father’s health deteriorated so much that he had to stop working. The entire responsibility fell on the shoulders of the mother. Velumani was the eldest of four siblings. The mother did not stop her son’s studies, sent him away from home for further studies. The mother was taking care of the family by selling milk.
The whole family used to run on 50 rupees
The expenses of the whole family were going on in 50 rupees. Velumani was understanding mother’s condition. After graduation at the age of 19, he started working as a chemist in Coimbatore. There was a time when he did not even have the money to buy pants and slippers. Dr. Velumani decided to take up the job only after completing his B.Sc.
Salary of Rs.150
He used to get Rs 150 as salary. Velumani used to send 100 rupees out of this to his home and used to live on 50 rupees. He applied for a job at the Bhabha Atomic Research Center in Mumbai. He was selected in Bhabha Atomic Research Center. Started getting 800 rupees as salary. To earn extra, he started teaching tuition to children along with work. He used to send most of the money he earned to his mother. Along with the job, he completed his PhD studies.
How Thyrocare started
He worked in BARC for 14 years. Saving the little savings that used to be from the job and withdrawing PF money, laid the foundation of Thyrocare with about Rs 1 lakh. The first testing lab was opened in Mumbai itself. Gradually, sample labs were opened in different parts of the country, but initially its testing was done only at the Central Center in Mumbai. Initially he worked in a pharma company. The experience of that time came in handy for him. In the first three months, he started making profits.
spent many nights in the lab
It used to happen many times, when due to workload, he had to sleep in the lab itself. The company which he started by withdrawing PF money, today that company is worth crores. In the year 2021, he sold 66 percent stake in the company to the parent company of FarmEasy for Rs 4546 crore. Currently, Thyrocare has a market cap of over Rs 2500 crore. Thyrocare Diagnostic has a long chain across the country. It has 1122 outlets and testing centers across the country.
simple life
The owner of crores, Velumani leads a life of simplicity. Living in a small quarter above his large lab in Navi Mumbai, Velumani finds it hard to live a hi-fi lifestyle rather than living a simple lifestyle. You would not be able to guess by looking at him that he is the owner of wealth worth crores.
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