1890
(The Beginning)

The Neotia family has been an integral part of the business scene in Kolkata for nearly 120 years. Originating from Rajasthan, their forefathers settled in the city some time in 1890s, being attracted to the opportunities for enterprise that the city offered. Since then, Kolkata has been their home and subsequent generations have been born and brought up here.

1950 – The founders

Patriarchs of the Ambuja Neotia Group, Late Shri Suresh Neotia and Late Shri Vinod Neotia started their entrepreneurial career in the mid-1950s. Their eldest brother Shri Bimal Kumar Poddar was adopted by their maternal grandfather Shri Janki Prasad Poddar, a partner of the celebrated firm “Tarachand Ghanshyamdas”. This was probably one of the first wholly Indian registered partnership firms during the time of the British occupation of India. It was a trading firm that had offices right from Karachi in Pakistan to Shanghai in China. It began with interests in banking and insurance and later diversified into distribution of petroleum products, as a franchisee of Burma Shell.

Subsequent to dissolution of “Tarachand Ghanshyamdas”, the three brothers Late Shri Bimal Kumar Poddar, Late Shri Suresh Neotia and Late Shri Vinod Neotia set up “Radhakrishna Bimal Kumar” in the mid-1950s. As a leading franchisee of Burma Shell in the country, it operated out of several branches spread across UP, Bihar and West Bengal.

1970-1980
RKBK Expansion

Following the sad demise of Shri Bimal Kumar Poddar in 1968, Late Shri Suresh Neotia and Late Shri Vinod Neotia took charge of the family business. Under their leadership “Radhakrishna Bimal Kumar” continued its expansion with major forays in trading operations of cement, fertilizers and petroleum products. Having a gross turnover of Rs.500 crores by the early 90’s, it continues to maintain a steady growth.

Parallel to these, other ventures of the Neotia family included a textile mill in West Bengal and highly profitable collieries which were later nationalised. They also promoted an engineering firm “Macmet India Limited” which engaged in engineering contracts and software solutions.

1980-1990
Ambuja Cements

The two brothers, relying on their vision and vast experience joined hands with Mr. Narotam Sekhsaria, brother of Bimla Poddar (wife of Late Bimal Kumar Poddar), to promote “Gujarat Ambuja Cements Limited (GACL)” in the mid 80’s. In a few years the company earned Blue Chip status and became a leader in the cement industry. The Group came up with the city’s first business club “The Conclave” where work and pleasure met in an atmosphere of grace.

1990–2000
The Rise of a Legend

Under the stewardship of Harshavardhan Neotia, the group made its foray in realty and hospitality sectors. The Group’s first residential project Udayan-The Condoville, a JV with the Government of West Bengal, established new benchmarks in Public-Private Partnership to promote social housing and was declared a Model Housing Project by HUDCO. Mr. Neotia was honoured with Padma Shri by the President of India in 1999.

Simultaneously, the Group came up with its most ambitious hospitality project “Raichak on Ganges” in the 90’s on a land parcel as expansive as 100 acres.

In late 90’s, Modi Cement, which had become sick was taken over by GACL
and Harshavardhan Neotia, son of Late Shri Vinod Neotia and the only male
heir of the family, was appointed as MD of the newly formed “Ambuja Cement Eastern Limited”. Continuing the family tradition of excellence, he was able to execute a remarkable turnaround transforming the erstwhile sick company into one of the most profitable and efficient cement manufacturers in the country.

In the same year they made a strategic investment in ACC, India’s oldest and most prestigious cement company by acquiring about 14.51% stake.

2000–2005
New Beginings

Bhagirathi Neotia Women & Child Care Centre (BNWCCC) was launched in the year 2000 as the Group’s first healthcare initiative, offering the most advanced medical facilities for women and children, in Kolkata. Expansion in the hospitality sector continued with the establishment of “Swabhumi- the Heritage Plaza”, which showcased craft and culture from different parts of the country.

The Group made its foray into retail with City Centre Salt Lake, a signature
property of the Group, designed by Master Architect, Mr. Charles Correa in the year 2004, probably his only mall project.

In the year 2005, Holcim, the world’s largest cement company joined the Ambuja Group. Together they took control of ACC. The following year the promoters divested a substantial portion of their stake in GACL in favour of Holcim and handed over its management control.

2005–2010
The Neotia Effect

Following the diversification of business operations the group rebranded itself as “Ambuja Realty” and wholeheartedly dedicated itself into the domains of residential properties, retail parks, hospitality, business parks, healthcare and education.

Few of the Group’s landmark projects were developed in this phase, viz. City
Centre New Town, Swissotel, Ujjwala and Ecospace. These projects paved the way for the development of New Town making them symbolic with the place’s history.

Ambuja Neotia then expanded its business beyond Kolkata and made its
presence felt in other states. A joint venture with Luxmi Township Ltd,
Uttorayon was the group’s first residential township in Siliguri and was built on a property of 400 acres. The Group also had its maiden retail venture with City Centre Siliguri which opened in the year 2009.

To give a distinct direction to the brand’s individuality, the group decided to
merge ‘Ambuja’ with the illustrious ‘Neotia’ family name and changed its
corporate name to Ambuja Neotia.

2010-2015
Business Expansion

Retail business experienced expansion with the establishment of City Centre
Haldia and City Centre Raipur. Besides, other commercial properties viz.
Ecostation and Ecosuite were completed in this period. On the healthcare front, Neotia Getwel Healthcare Centre, a multi-specialty hospital was built in Siliguri and Genome- the Fertility Centre was independently launched in the year 2013.

2015 – Present Years
Ambuja Neotia 2.0

With a humble desire to contribute to the advancement of education in West
Bengal, the Group established The Neotia University, offering new age courses and providing holistic education.

During the end of 2015 the Group launched the flagship project Utalika in Kolkata. An intelligently designed property spread across 20 acres, Utalika comprises green landscapes, nature trails and natural lakes offering luxury features and specifications.

In year 2017, aligning with Startup India – an initiative of the Government of India, Neotec Hub, an incubation centre to provide guidance to bright and enthusiastic entrepreneurs was set up by the Group.

During the end of the year 2017, the Group introduced a unique boutique hotel, ‘Altair’ atop Ecocentre, a commercial building in Sector V, Salt Lake.

Alongside, the second edition of Sonar Tori, a restaurant specializing in Bengali cuisine was launched in City Centre Salt Lake in 2018.