Smart People

SMART EYE

He is an MIT (Massachusetts Institute of Technology) graduate. He drives BMWs and freaks out on music so much so that during his younger days he decided to take off to Woodstock to let his hair down.

Meet Naren Patni, 61, chairman and managing director of Patni Computers - the man who bossed over Narayana Moorthy and clan when they were boys.

Ask him what he thinks of his boys now, he wouldn't answer: "I am too close to all seven of them (founders of Infosys) and whenever I say something it becomes a controversy! They are doing a good job and I wish them best of luck." Even today, Patni Computers is known to provide the best training to software professionals.

Given that Patni has produced the country's best software professionals, one can hardly resist the temptation to ask why Patni itself lagged behind in the race?

Patni was among the first to enter the software services business way back in 1978 and given the time-lead it should have been the mightiest in the industry today (perhaps, next only to TCS). Patni doesn't mind answering that question.

"Being old has its own perils because you have legacy issues and carry baggage. We decided to shed that baggage in 1999 (Patni's software and hardware businesses were de-merged) and ever since we have been growing strong and steady," says Patni.

Now that the restructuring is complete and the stock markets are also benevolent, Patni has come out with its maiden IPO. The issue price band (Rs 200-230) makes Patni shares cheaper than all the tier-one software companies in the market today.

For the success he has seen on professional and personal front, Patni displays extraordinary humility, something so commonly uncommon among accomplished people.

Patni, father of two - his son, also an MIT graduate, is a consultant with McKinsey and his daughter, a Harvard graduate, works for a boutique firm in the US - spends half the year in the US.

And when he is there, he insists on driving on his own - BMW is not a car he would part with. His favourite drink: red wine. But hold on. If his IPO does well, it might be time to pop a champagne this time.

G V Nageswara Rao, who took over as managing director of IDBI Bank on December 23, 2003, could not have been appointed to a hotter seat.

At a time when the parent, Industrial Development Bank of India (IDBI), is on the verge of becoming a bank itself, it is perhaps intentional on the part of the institution to have selected an insider to head the group's bank. Rao was formerly managing director of IDBI Capital Market Services.

Rao admits that his new role will be 'challenging', especially at a time when IDBI Bank will have to work closely with its parent in its transformation into a bank.

"What is important today is to pursue a growth strategy with vigour as also work closely with IDBI in the transformation process," he says.

Since the bank faced growth constraints - for want of capital in the last one year - Rao's first priority is to expand the bank's network and grow its customer base.

"Expanding reach is critical to any strategy if we are to increase our customer base," he says. This has been made possible as the bank is now armed with an additional Rs 154 crore of funds following a rights issue. It currently has a customer base of 8.5 lakh accounts.

A chartered accountant, a cost accountant and an MBA from the Indian Institute of Management, Ahmedabad, Rao has had over 16 years of experience in the banking industry.

He was also associated in the formation of Sebi and continues to be a member of several committees set up by the Reserve Bank of India (RBI) and the National Stock Exchange (NSE).