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Nanda in Rich List 2013

Dr Richie Nanda, Global Chairman of the Indian-based security company TOPSGRUP who acquired the UK security firm The Shield Group, has for a second time entered the Sunday Times Rich List 2013 with an almost £20m increase in personal fortune, from £168m in 2012 to £187m. He is building a home in Gerrards Cross in the Home Counties; and is pictured with his wife Winnie.

He completed the 100pc acquisition of The Shield Group, formerly The Shield Guarding Company Ltd, in July 2012. In the last financial year, both TOPSGRUP and The Shield Group saw a growth in EBIDTA of 67pc, and in the current financial year, its annual turnover is expected to be £170m.

He took over the reins of TOPSGRUP at the age of 22, a company with revenues of just £30,000 PA and eight customers, and built it to revenues of £150m, 93,000 employees, 120 offices and about 8,000 customers.

Richie Nanda said: “Featuring in the Sunday Times Rich List for a second year running is an honour and reminds me of the sheer dedication and hard work that’s been placed into building this achievement. It’s purely a team effort and I owe this recognition to the 93,000 employees and 8,000 customers for contributing to this achievement and for their determination to make TOPSGRUP and The Shield Group one of the largest and most reputed security companies in the world. And we’re getting there. 2012 has been a pivotal year for the business: from the completion of acquiring The Shield Group, to consolidating our position in India as the market leader, and the re-structuring of the entire business in the UK to provide a unique delivery model to customers, based on a total security solution service. this has all led to growth in the companies, subsequently reflected in our EBIDTA and of course my personal wealth.

“The growth in the industry also confirmed the importance of security as a service, especially within the business sector. There has been an increased demand from customers for more cost-efficient, high quality security services, especially in the face of more technical and varied security risks arising in the world and in the UK. As a result, The Shield Group has enhanced its tactics to deliver a more robust, risk-based and tailored comprehensive security solution for its customers, and we are reaping the awards from this. I’ve always maintained that as two nations, India and the UK are very alike – they are nations of entrepreneurs and both countries in several cases, including in the case for Topsgrup and Shield, work concurrently to inspire entrepreneurialism, and that sometimes means taking a risk. We did that a year ago and are proud to say it’s paying dividends.”

The Sunday Times Rich List, begun in 1989, is of the 1,000 wealthiest people in the United Kingdom, such as the steel magnate Lakshmi Mittal, industrialist Alisher Usmanov and Chelsea Football Club owner Roman Abramovich.


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