Gaurav Rungta’s indomitable spirit and leadership have propelled him to remarkable suc cess by the age of 47. As the seventh generation in his family, Rungta has taken the helm as Managing Director of Jaipur-based MAN Structurals Pvt Ltd. (MSPL), steering the company to new heights. MSPL specialises in designing, fabricating, engineering, procurement and construction (EPC), and the supply of transmission line towers, substation structures, and solar module mounting structures for megawatt projects. Addi-tionally, the company provides fabri-cated and galvanised steel structures for OHE and TSS in railway electrification. MSPL has also diversified into new ver-ticals, including windmill towers and EPC operations, contributing to India’s national goal of achieving sustainable energy by 2032. The company employs approximately 1,400 people across var-ious countries, including project sites and its plant in India.
“We were the first Indian com-pany to manufacture mobile towers in India, and we have achieved many firsts throughout our journey. MSPL has always been a reliable partner for pioneering projects, setting bench-marks in innovation and excellence. When mobile networks were intro-duced in India, mobile towers were initially imported from Sweden. We were the first to manufacture towers for the entire Rajasthan network, as well as Madhya Pradesh, Jammu and Kashmir, Leh Ladakh, and Assam. We set up the entire network, including the North-East border areas and half of the J&K border areas for the Army’s radio wave system. That’s how we entered the mobile communication space,” recalls Rungta. “We later expanded into solar and became the first company in Rajasthan to manu-facture solar structures,” he adds. With Rajasthan boasting significant solar energy potential and abundant land, MSPL seized the opportunity to meet the region’s growing requirements for railway electrification as well.
The company has also expanded internationally, supplying materials to South America and Nicaragua. In recent years, MSPL has ventured into Africa, operating in countries such as Burkina Faso, Tanzania, and Cambo-dia. Recognising the growing demand in the GCC region, MSPL is planning to establish a facility in the
Middle East.
Regarding the smooth operations of the company, Rungta says: “Loyal customers are made, not born. Our commitment to quality and trust has helped us build lasting relationships. We professionalise everything, and our company operates on a system-driven model. We bring senior talent from across the industry while also nurturing internal talent.”
In recognition of his achievements, Rungta was awarded the Asia Pacific Enterprise Award 2024 for ‘Entrepre-neur of the Year’ in Thailand. The company has also received numerous accolades, including the International Quality Crown Award for Best Quality by Business Initiative Directions (BID), London, in 2016, and quality awards from various Indian forums in 2024. On funding, Rungta explains: “Some projects are bank-funded, supported by term loans and working capital limits. Additionally, we raise funds by partnering with regional investors. This collaborative approach is mutually beneficial and drives business growth.”
The company expects growth of 25-30 per cent next year, with projec-tions of 40 per cent growth in subse-quent years. MSPL has set ambitious targets, aiming to achieve a turn-over of R650 crore next year, R800 crore the following year, and surpass R1,000 crore thereafter. With the National Electricity Policy (NEP) out-lining plans to build two lakh circuit kilometres of transmission systems by 2032, predominantly in northern India, the power sector presents signif-icant opportunities. While major play-ers such as L&T, Bajaj, and Kalpataru dominate the field, MSPL is well-posi-tioned to play a pivotal role.
Electricity for all
The Prime Minister’s vision is to ensure electricity for every home by 2034. Aligning with this vision, MSPL has set an ambitious mission, ‘Powering a Billion Dreams.’ The company is working tirelessly to achieve this goal.
On the subject of raising funds pub-licly, Rungta states: “We need people to partner with us. We don’t want to remain a closely held company, so we are weighing our options – strate-gic investors versus going public. We believe that within a year, we will have a clear direction, whether through an IPO or by bringing in strategic inter-national investors. Discussions with three or four international investors are already underway.”
According to Rungta, three key elements are essential for a country’s economic growth: electricity, a robust road network, and an efficient railway system. He emphasises: “India is unlocking the potential of all three frameworks simultaneously. MSPL is actively involved in these critical areas and is determined to be a part of India’s growth journey.”