PNC Menon is an Indian-born Omani billionaire businessman hailing from Thrissur in Kerala Which is known for sacred sites and colorful festivals. He is the Founder and Chairman of Sobha Ltd. His net worth is estimated to be around $1.23 billion. Born and brought up in Kerala’s Palakkad district.
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Menon was in the second year of his bachelor’s programme in commerce when he had a chance meeting with Brigadier General (Retired) Sulaiman Al Adawi, then a captain in the army of the Sultanate of Oman, at a hotel lobby in Kochi. Al Adawi, who was looking to buy a fishing boat, struck up a conversation with Menon and soon they began to discuss work opportunities in Oman. Like many of his fellow Keralites working in the Gulf, Menon, too, was taken in by the prospect.
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Menon, somehow found himself in business with Al Adawi, co-founding in early 1977 a furniture, interior, and fit-outs firm in Muscat (now known as S&T Interiors and Contracting) with a loan of 3,000 Omani riyals (equivalent to Rs 75,000 then). At that time, the seaside city was seeing frenzied industrial development due to the petrodollars that were pouring in since the late-’60s, and Menon and Al Adawi were riding on the back of a new rich class.
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They were designing the interiors of homes for the rich, and even undertook work at the palaces of the Sultans of Oman and Brunei.
In 1995, he set up the real estate company Sobha Developers Limited (now Sobha Limited) in Bengaluru; it was listed on the domestic bourses in 2006. Named after Menon’s wife Sobha, the firm has developed 84.96 million square feet of real estate space, largely in south India.
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