NewsX A-List: Prasada Rao Daggumalla on Economic Discipline and Financial Due Dilligence

In a recent exclusive interview on ‘A List’ with Pia Mann, the focus was on Prasada Rao Daggumalla, who is the chairman of Radhey Constructions Pvt. Ltd.. Prior to this he had a distinguished career in the income tax department as an IRS officer and served as the Joint Commissioner of Income Tax.

Throughout the course of his life, Mr Daggumalla has dedicated himself to the upliftment of the marginalized and has addressed social causes. He is a pioneer in bringing the credibility of social justice to the business realm. After joining the construction business in 2018 he has led the finance department and inspired passion and confidence in his team.

At the beginning of the conversation Mr Daggumalla initiated by explaining the challenges he faced as a social impact worker and how he overcame those obstacles, he elaborated,” We came into this business to provide housing to marginalized sections, middle class and below middle class and we encountered several problems such as acquisition, legal and construction related problems”.

He further added, “All the problems can be sorted out if you have economic discipline and due diligence if you follow”.

On being asked what exactly motivates you to give back to society, to which he replied, “As a company, we follow corporate social responsibility and we concentrate on contributing to healthcare, education, and other developments, and individually I have been serving the marginalized sections of the society like the SC, ST, Muslims, and Christians minorities, whenever there is a health problem or anything and we are also trying to provide a source for them to make a living”.

Further, the conversation circled around how Mr. Daggumalla measures the success of his social impact activities and how he ensures that his work leads to lasting positive change, to which he replied, “When we provide education to these people we observe that when they grow up they get employment and also help in educating others s well, so any person who gets educated and gains employment they become economically independent and will bring up their families as well”.

He further added.  “Therefore supporting even 10 people would be equal to supporting almost 50 to 60 people altogether”. Mr. Daggumalla also iterated the importance of strict economic discipline with financial rules being paid their due diligence so that the business is sustainable.

Further on the question of what are the biggest challenges of the real estate industry and how can one overcome these problems, to which he elaborated, “Real estate industry is considered to be unorganized and when we are concentrating on constructions we are trying to make it organized so that we are ready to be recognized as an industry which can sustain for a long time”.

He also elaborated on the core concepts and values of Radhey constructions, and said, “Our core vision is long-term sustainability, financial discipline, and due diligence, again without these any business would not run and these are our basic tenets”. He further added, “We are ambitious but we also stick to the rules as well”.

He further explained that he aims to become a Member of Parliament and wants to push the issue of the construction industry and get it into the organized sector.

Anchor Pia Mann concluded the interview by expressing her hope for Mr Prasada Rao Daggumalla’s continued success, she lauded his passion for his work towards marginalized communities and acknowledged his drive to work for social cause.

Watch the full discussion on our NewsX YouTube channel.