The Hindu Business Line : An enigma, hero and one with a secret agenda

Hyderabad, Jan. 7 When this correspondent sat down to interview him after Satyam Computer Services announced second quarter results on October 17, 2008, Mr B Ramalinga Raju, the Founder-Chairman, had asked, “why are markets behaving like this”. Obviously, he was not satisfied with the scrip movement despite the fact that the company could “beat the guidance and showed 42 per cent increase in profits”.

The question was of no consequence then for a reporter. But in the backdrop of the current developments, the question seemed to have a meaning – despite the (fudged) numbers, why the lukewarm response from the market?

Mr Raju, 53, is an enigma, always; an introvert and bookworm.

Close friends of Mr Raju look at him as someone who never wants to take a risk. At the same time, they feel that he is bold enough to stick on to the decisions once he makes up his mind. A poor speaker, he would always beat around the bush to convey his opinions.

An old friend of Mr Raju told Business Line that he is dynamic, systematic and hardworking. “He used to read a lot of books on management and philosophy. I wonder how he landed in this mess,” he feels.

He is a hero and role-model for some - as he visualised a new business opportunity when only a few know about one and helped thousands dream IT.

For others, he is someone with a secret agenda. They argue that Mr Raju has the knack of forging ties quickly with those in power. Considered to be very close to Mr N Chandrababu Naidu, the former Chief Minister, Mr Raju quickly made moves to become close to the present regime, they point out.

Born into a farmer’s family, Mr Raju refused to take to the family occupation when he came back from the US with an MBA from Ohio University. Against his father’s wishes, he started off his entrepreneurial initiatives by starting Satyam Constructions and Sri Satyam Spinning Mills. He had to sweat to get loans initially for these initiatives.

But, he soon he saw an opportunity in IT, which was beginning to show promise. Started off with just 20 associates in one-room tenement 21 years ago, he went on to build the fourth largest IT services company in the country.