2018 - Gulf's Gold Barons
Top Business Leaders in Arab World

Asgar Shakoor Patel


House of Patels Chairman. Transportation and Logistics... Read More?
Revealed: Top Indian Business Leaders in Arab World

Asgar Shakoor Patel


Over 100 Indian nationals, mainly businessmen and executives that are based in the UAE, have just been recognised for their “phenomenal success” in the Arab world. Read More?
A truly smart city for smart people

Asgar Shakoor Patel

Looking back on his arrival back in 1978, Asgar Patel is still astonished by the drastic makeover Dubai has experienced over the years. Read More?

Looking for growth drivers

The Mumbai-based Patel Integrated Logistics Ltd (PILL) is on the path to regain its momentum, which slipped a bit during the last decade or so in the fast-changing marketplace. It was formerly known as Patel Roadways Ltd and commanded pole position in the transportation space for several decades since 1959, when it was founded. PILL is now making a conscious attempt to reposition itself in the logistics market.
Once known for its brand recall and synonymous with the trucking business in the country, with its famous kangaroo logo, the company has chalked out an ambitious plan to enter the booming e-commerce industry, where it will provide last-mile delivery services to e-commerce players. PILL is in an advanced stage discussion with a Middle East-based company, which will not only bring in the much-required know-how and technology, but also infuse capital in this new venture, catering to the logistics requirements (B2C) of the e-commerce players.Read More

2016 - Richest Indian
Revealed: The most comprehensive guide to indian wealth in the gulf

Asgar Shakoor Patel


Having made his money setting up one of India's biggest transport and logistics conglomerates, Patel travelled to Dubai with the cash needed to Kick-start his own ventures, ironically benefitting from the earnings of his... Read More?

Asgar Shakoor Patel


Patel says he could sniff the money-making opportunities in the Middle East from 2,000km away. "I established the exchange centre to help the increasing number of Indians remmitting money from Dubai to India," he told us last year. "Dubai was just building up... Read More?

Asgar Shakoor Patel

Half a century ago, a Mumbai-based salesman borrowed enough money to buy a lorry and enter the trucking business. That man was Asgar Shakoor Patel, and the company swiftly turned into Patel Roadways, one of India's biggest transport and logistics names. Patel has used his business acumen to grab massive slices out of other global markets... Read More?

50 Riches Indian in Gulf Countries

Asgar Shakoor Patel $600m

Having made his money setting up one of India’s biggest transport and logistics conglomerates, Asgar Shakoor Patel travelled to Dubai with the cash needed to kick-start his own ventures, ironically benefitting from the earnings of his fellow Asian expats who typically worked as low-paid labourers. Wall St Exchange Centre became the UAE’s largest and oldest foreign exchange and money transfer company and was a lifeline for many who came to rely on Dubai to support their families back....Read More?
House of Patels’ launches Real Estate Arm in Dubai
House of Patels’, one of India’s leading business conglomerates, who also owns part of Wall Street Exchange, has launched their real estate arm – ‘Wall Street Property’. The company is marketing major Dubai properties such as Burj Dubai Lake Hotel, Dubai Mall, The Boulevard, The Residences and The Old Town among other landmark projects spread across the Palm, Business Bay and other major locations....Read more?
50 Golden Years of Driving Up the Road of Success
Mumbai, Maharashtra, India
Armed with his legendary one man one truck and one vision, back in 1955, Patel led the entity effectively to make it one of the leading National Carriers of India. By starting from the grassroots, Patel visualised companies, studied them in detail and believed that to run & manage companies one needed the best & right manpower available. Nursing companies into profits and divesting them at a premium has become the order of the day for Patel....Read more?
Comeback Kid
"To motivate myself to work harder I refused to give up on luxuries and decided since I was going down the tube, I might as well do so in style," says Patel.

Asgar Patel was sitting pretty, preparing for retirement when his company lost $300 million and was almost on the brink of bankruptcy. At 57, he rebuilt his empire, House of Patels, with the same gusto as when he established it three decades earlier.
Asgar Patel was sitting pretty, preparing for retirement when his company lost $300 million and was almost on the brink of bankruptcy. At 57, he rebuilt his empire, House of Patels, with the same gusto as when he established it three decades earlier.

Asgar Shakoor Patel is a 67-year-old comeback kid. The patriarch of the Indian mega corporation House of Patels started his business as a one-truck operation called Patel Roadways in 1959. He drove the truck himself, transporting goods all over India and built it into one of the largest logistics companies in Asia.

Over the next four decades, Patel diversified into couriers, air freight, finance, foreign exchange and the fast-growing money remittance business. The House of Patels became a multi-million dollar enterprise.

Patel was preparing to live a peaceful retired life, given to golf and grandchildren, after handing over the reins of this company to his sons. Read more
Magnate eyes Kingdom's potential
Asgar S Patel, group chairman of India-based multinational House of Patels and one of the wealthiest people in India and the United Arab Emirates, says that when he invests in property he takes into account a country's economic prospects and the project's location, design and environmental features in order to reap the maximum benefit... Read more?

Bags Contract of Cadila
Patel Roadways, a leading surface transport operator with a network that spans 500 stations countrywide, and a part of Patel Integrated Ligistics (PILL), has been selected as one of the trusted service provider to carry out the task of transporting Cadila`s pharmaceutical products, across India... Read more?
There are few people, much less immigrants, who can recall the days when Dubai truly was little more than a stretch of sand. Sheikh Zayed Road was a mere two lanes and the tallest building was a few storeys high. The population consisted of a scattering of people in a dusty city little known internationally.

That was until oil was discovered and thousands of foreigners flocked to the emirate to seek the opportunities. Among them was an ambitious 20-something-year-old Indian immigrant named Asgar Patel.
But what made Patel stand out in the early 1970s was that he had already proven his independent business acumen after building up the largest Asian transport company at the time, Patel Roadways, despite his age.

He arrived in Dubai with the cash needed to kick-start his own ventures, ironically benefitting from the earnings of his fellow Asian expats who typically worked as low-paid labourers. Wall Street Exchange Centre became the UAE’s largest and oldest foreign exchange and money
transfer company and was a lifeline for many who came to rely on Dubai to support their families back home. Remittances from Dubai are among the highest in the world, with nearly $13bn transferred out of the country last year, according to UAE Exchange. Read more?
UAE businessman, Asgar Patel invests in tallest Thai tower


Indian Businessman sells Wall Street Exchange stake
EMIRATES POST BUYS REMAINDER OF REMITTANCE HOUSE Dubai Indian businessman Asgar Shakoor Patel, who established the money remittance business Wall Street Exchange Centre LLC 30 years ago, has sold his remaining 40 per cent stake ti Emirates Post Gulf News has learnt....Read more?
Wall Street Finance starts treasury dept:
The Wall Street Finance Ltd has established a central treasury department in Mumbai to manage its foreign exchange operations across 25 branches in 21 cities in India...
I, Me, Myself
House of Patels founder Asgar Patel started out with just a truck and a dream. After decades of hard work and smart planning, his business rose to dizzling heights. Then some 10 years ago, he almost lost it all. He tells Firday how he ground his way back to the top...Read more?
Foray into Warehousing
Patel Roadways aims to acquire warehousing company or alliance with MNCs Patel Roadways Ltd (PRL) is now planning to foray into warehousing and distribution business. It is currently exploring the options of acquiring an existing warehousing company or entering into a strategic alliance with international warehousing majors. They will also be launching 'Patel Retail' in May 2006, offering superior cargo services at lower costs, with an objective to bridge the gap between conventional transport and express cargo services....Read more?
Patel Roadways to foray into third-party logistics services
Amit Mitra
Mumbai, Oct.25 2005

PATEL Roadways Ltd, primarily engaged in road transportation, is gearing up to expand its business canvas by foraying into full-fledged logistics services that would involve supply chain management solutions or third party logistics (3 PL) services.

As the first step, Patel Roadways has decided to amalgamate one of its group companies, Patel On Board Couriers Ltd, with it.

The board of directors, at its meeting on August 29, approved the amalgamation proposal.

As per the proposal, share holders of Patel On Board Couriers will be allotted 23 equity shares of Rs 10 each of Patel Roadways for every 20 equity shares held.

Patel Roadways had clocked a net freight earnings of Rs 120.89 crore in the last fiscal, while Patel On Board had notched up an income of Rs 134.39 crore during the year... Read more?

Strengthening the Family Business
Areef Patel – Executive Vice Chairman

Born in a family that was already well entrenched in the freight business, Areef Patel’s association with Patel Integrated Logistics began when he formally joined the “House of Patels” as a director in 1992. He is the second generation to the business, started by his father Asgar Patel in 1959. He completed his 10th grade from Choate Rosemary Hall, USA, in 1989, thereafter graduated in 1993 from the University of Bombay with a major in Economics. According to him, logistics industry in India is now coming of age and is growing at a steady and consistent pace. Several viable opportunities are now available for the customers to select from, depending on the nature of the product, delivery time required and cost affordability.
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With some of the best things in life
The Road From Nowhere
Patel is on of those men whose success has gone to th head of his public relations team. While one can't grudge him his official sidekicks, he is certainly more accessible and a few degrees kinder than his retinue... Read more?
Perfecting Total Logistics Solution

Mr. Areef Patel, Executive Vice Chairman is at the helm of affairs in Patel Integrated Logistics Ltd (PILL). Young, energetic, dynamic and flamboyant, Mr Patel is the epitome of highly progressive and modern outlook in business and profession. Always full of innovative ideas, Mr Patel inspires and motivates his entire team from the front. Eicher is proud to have PILL as a worthy partner.

PILL offers complete logistics solutions to its customers. Eicher is commited to provide transportation solution to PILL. M&S met Mr Patel at his Mumbai headquarters recently. It was a pleasant experience talking to him.
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Patel Integrated Logistics (PIL) (Rs.64) is the merged company of Patel Roadways and Patel on Board Couriers (POBC). PIL provides unified solutions through door-to-door express cargo service,surface transport and air and sea transportation besides offering services in warehousing and secondary distribution. Its commitment to quality, uncanny ability to innovate and its fierce determination to protect the business interest of its customers gives it the cutting edge. The company is branched into 8 products to attain leadership position in its segment.

It has entered the business of Express Cargo Deliveries only 6-9 months ago and has already, in a short period, clocked a turnover of nearly
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Patel Retail establishes an extensive nationwide network
Patel Retail, the latest venture of Patel Integrated Logistics Ltd has established a highly efficient network of cost effective and quality cargo service in almost no time. Today just elight months after Patel Retail was launched in selected markets, delivery stations have quickly spread from J&K in the north to Tamil Nadi in the south and Orissa in the east to Gujarat in the west. Delivery stations have been added to the Patel Retail network in the states of Madhya Pradesh, Orissa, Rajasthan, Goa, Chandigarh, Jammu & Kashmir, Punjab, Ludhiana, Jalandhar and Hoshiarpur, Haryana and Tamil Nadu, making it into one of the most extensive retail cargo networks in India

Patel Retail has grown from zero base to Rs 18 crore base in the time span of just eight months Starting with a network of 188 branches...Read more?
All eyes on tallest Thai tower
The MahaNakhon project, Thailand's tallest tower, has generated investor interest after a UAE-based business?man invested DhlOO million in the project. Asgar Patel, Chairman of the House of Patels Group, expects the project to be valued at Dh2.25 billion on completion in 2015...Read more?
Arif Patel, Asgar Patel, Ali Asgar Mir and Mohammed Tariq
The ambience was as warm and friendly as the crowd. Asgar Patel of Wall Street was at home to close friends to welcome his son Arif and daughter in law Kahkashan to Dubai on a visit from Mumbai. Spotted during the evening were Ikon`s Ali Asghar Mir and his lovely wife Bashi. Air India`s Ratan Bali Read more?
Last Action Hero

Nearly bankrupt six years ago, Asgar Patel has rebuilt his fortune Now flush with funds from the sale of Wall Street Exchange, he plans to become Dubai's new construction baron

CLOSE TO the Bandra sea face, somewhere between the homes of Sanjay Dutt, John Abraham, Shah Rukh and Salman Khan, Asgar Patel has built himself a three storey house on a property on owned by his friend and famed film director of yesteryears, Hrishikesh Mukherjee. The chairman of The House of Patel dosen't stay here much - his home, for the most part, is a four bedroom suite at the Intercontinental, Dubai - but this week he's on a visit to see his family.

It`s only appropriate that Patel should live in the heart of Bollywood -- after all, his life has always been the stuff of a Hindi pot-boiler. Shunnned by his businessman father for marrying a Christian.... Read more?

Exchange Houses in the UAE:
Technologically Advanced One of the unusual characteristics of the employment world in the United Arab Emirates is the high ratio of expatriate to citizens working within businesses and industries. This has given rise to huge amounts of money being repatriated outside the Emirates to their country of origin. Ever since the country was formed under the leadership of the late President of the UAE and Ruler of Abu Dhabi, His Highness Sheikh Zayed bin Sultan AI Nahyan, exchange houses have thrived on this factor, making it probably one of the few countries in the world that has such a huge number of exchange companies within... Read More?
Premier exchange company
HE Wall Street Exchange Centre L.L.C. is one of the largest exchange companies in the U.A.E. operating since 1982. Headquartered in the commercial heartland at Naif Road, Deira - Dubai, the path of progress of this company has been phenomenal with a total of seven branches opened in U.A.E. and yet others being planned around the world.

Wall Street Exchange Center is considered as the market leaders in money changing and bank note activities ever since its inception in 1982. What merits even greater attention is that it is involved in the buying and selling of over
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Wallstreet Finance Ltd, a company listed on the Bombay Stock Exchange, has established a central treasury department in Mumbai to manage its foreign exchange operations in 25 branches across the country. Wall Street Finance has established an export line to... Read more?

Companies should be profitable
Asgar Patel, founder of Patel group of companies, built up his empire literally from the scratch.Read more?
Wall Street Exchange Centre wins Award for dollar clearing
The Dubai-based Wall Street Exchange Centre has won the Deutshe Banks Global Cash Management STP Excellence Award for US Dollars Clearing in recognision of their excellent services.

Bernd Frlederichs. Managing Director, Global Head Sales at Deutsche Bank AC, said: "We have created a partnership with Wall Street Exchange Centre as they are considered to be one of the major foreign exchange centres in the UAE and the enfire region offering some of the be t services in the global marketplace. Muhammad Ashraf Read more?
"It's a peculiar thing: when you do well, everybody becomes your friend"
Thailand is 25-30 percent of the cost of (operating in] Singapore. Somy costs come down by nearly 70 percent. It's that cheap working out ofThailand." Patel says Thailand is the quiet achiever sitting snugly between its booming neighbours, China and India, who have been receiving all the attention, "The rate of growth [inThailand] remains between five to six percent. That's a very high rate by any standards because India itself is struggling at 5.5 percent and China at seven to 7.5 percent," he says.Read more?
Indian Roots, Global Presence
When Shakoor HashamPatel left the rural farmlands of Guiarat in 1917 to carve out a living in Mumbai, little did he know that he was embarking on a momentous.journey. Foraying into con.. struction which became a huge bU$iness, he moved into the import/export business finally concentrating on manufacturing Faiz caps worn..
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