Vibrant reflection of the institute

Mr. Anil Bansal (BT/ME/1977)

Mr. Anil Bansal (BT/ME/1977), an eminent alumnus, recipient of the Distinguished Alumnus Award 2023 and one of the top benefactors of IITK, is a serial entrepreneur currently serving as The President at First National Realty Management. Mr. Bansal is known for his humanitarian nature, leadership skills and philanthropy. He was selected as ‘The South Asian Times Person of the Year 2022’. In an interview with the DoRA office, he talks about his life journey, aspirations, challenges, and how IITK shaped his personality.

Tell us about your early childhood.
I had the privilege of growing up in a loving and close-knit family. Our main focus was always on cultivating happiness, and we were fortunate to have a wide circle of friends. During my childhood, I once asked my father a thought-provoking question: whether we were rich or poor. His response left a lasting impression on me. He explained that if your hand is held with the palm facing downward, you are considered rich, but if your hand is palm up, it doesn't matter how much you possess, you are poor. This perspective instilled in me a lifelong desire to be a giving and generous person.

While financial success came later in my life, I learned the value of self-sufficiency from a young age. Starting at twelve years old, I would independently earn money to support myself. I engaged in entrepreneurial ventures like purchasing wholesale firecrackers and Holi colors, which I then sold to other children on the streets. This allowed me to earn enough to both sustain myself and enjoy playful activities.

After school, I would spend a few hours at my father's shop located in the wholesale electric goods market in Chandni Chowk, Delhi. It was an enriching experience that exposed me to the world of business at a young age.

Young Mr. Anil Bansal@iitk

Your first venture was Essex Computers. What were the challenges and learnings, and how did it come about?
Upon completing my master's degree at Notre Dame University, I worked for a major corporation for the first five years. I felt unfulfilled and wanted to do it my way. Having no capital, I ventured into the retail sector, working for Computer Pros, a store specializing in Apple computers. Through dedicated efforts, I successfully turned the company's fortunes around, transforming it from a negative position to a significantly positive one. However, despite the progress, the owner went back on our agreement to make me a partner. In hindsight, this turned out to be a blessing in disguise.

Motivated by the setback, I approached the executives of Apple Computers and secured a dealership from Apple in 1989. This marked the beginning of my first company, Essex Computers, based in Newark, NJ. As circumstances led us to relocate, I seized the opportunity to purchase a 20,000 sq ft building in Clifton. To make the most of the additional space, I established a flourishing desktop publishing training center. Prominent companies like Bantam Books, Conde Nast, and The New York Times began sending their employees to us for software training, particularly in programs like PageMaker. Soon, our training services generated revenue exceeding one million dollars, and we became the largest supplier of Apple computers in any location. Additionally, we secured a significant contract from the New Jersey school system to provide computer maintenance services.

This journey taught me a valuable lesson: by delivering excellent service and demonstrating care for our customers, we eventually secured our rightful share of the business.

What made you shift to real estate?
As our computer business flourished, reaching a revenue milestone of $30 million, I received guidance to leverage our success by investing in real estate. Having already acquired my first building, I took the advice to heart and embarked on a ten-year journey of purchasing one building annually, focusing on commercial real estate and office buildings. This strategic move not only provided financial opportunities but also paved the way for establishing multiple businesses in the future.

At present, we proudly own 10 buildings in New Jersey through First National Realty Management LLC. Our own office is situated in a building that I personally own in Lyndhurst, NJ. This deliberate approach was primarily aimed at creating a dependable and consistent income stream for the remainder of my life.

How do you associate yourself with the tag serial investor/entrepreneur?
Becoming a serial investor was never part of my initial intentions or plans. However, as one business venture led to another, I seized the opportunities that presented themselves along the way. While remaining active in the real estate sector, I also took on the role of a key founder in Indus American Bank, overseeing its expansion to six branches across New Jersey and New York.

Exploring various industries, I ventured into the restaurant business by establishing Mantra in Paramus, NJ. Additionally, my involvement extended to vSplash TechLabs, a company in which I played a part. In 2011, I embarked on the creation of BuzzBoard, an intelligence and analytics platform tailored for small and medium-sized businesses, where I continue to serve as chairman.

Moreover, I played a role in launching multiple companies in India, subsequently entrusting their management to capable individuals. This diverse portfolio of investments reflects my willingness to embrace new opportunities and support entrepreneurial endeavors.

Mr. Basnal at IIT Kanpur New York Alumni Meet in 2022

Had you not been an investor/entrepreneur, what would you have been rather and why?
From an early age, my inclination was always towards business. However, I ended up pursuing engineering primarily because of my academic excellence. Throughout my journey, I never harbored any doubts about achieving success. If I hadn't embarked on my own entrepreneurial endeavors, I have no doubt that I would have risen to the ranks of a C-level executive within a prominent corporation.

How do you think the Gangwal School of Medical Sciences & Technology is going to shape the future of IITK?
I am delighted to observe the remarkable progress of IIT Kanpur, led by the capable guidance of Prof. Abhay Karandikar. I firmly believe that the establishment of the unique School of Medical Sciences & Technology, accompanied by a 500-bed Super-Specialty Hospital, will revolutionize medical research and innovation in India. This significant endeavor holds the potential to enhance the quality of life for numerous individuals and create ample employment opportunities, benefiting a vast number of Indians.

What has been your motivation behind giving back to your Alma Mater?
It is truly a gratifying experience to make a contribution to one's alma mater, and the joy multiplies when the cause is as noble as the establishment of the Gangwal School of Medical Sciences & Technology at IIT-K. My wife, Kumud Bansal, and I are overjoyed to be part of this remarkable journey and are pleased to contribute to the new school.

Mr. Anil Bansal with wife Mrs. Kumud Bansal

What message would you like to give to IITK students who want to be entrepreneurs/investors like you?
IIT has evolved into a renowned and respected brand, recognized worldwide. Individuals who graduate from IIT are destined for success in life. However, when it comes to establishing and prospering in your own ventures, taking risks becomes imperative. Nevertheless, perseverance and consistent hard work will yield results. It's common for people to exert effort for a brief period and then give up when they don't see immediate outcomes. Instead, focus on your work without worrying about the results because they will manifest in due time.

Often, many of my intelligent friends approach me after conducting extensive analyses, seeking assurance that they have considered every aspect. The truth is, it is impossible to account for every single factor! Therefore, if you possess a strong conviction, take inspiration from Nike and simply "Just Do It!" I believe I am a testament to this approach.

You were named The South Asian Times Person of the Year 2022. Your thoughts.
I am filled with a sense of pride and humility upon receiving such a prestigious honor. Previous recipients of this recognition have included notable figures such as Hardeep Singh Puri, former India's ambassador to the UN and current minister in PM Modi's cabinet, New York City Mayor Bill de Blasio, and Pramukh Swami Maharaj of BAPS. This acknowledgment not only reflects my own accomplishments but also serves as a testament to the exceptional talent, dedication, and ingenuity displayed by Indian entrepreneurs like myself.

Mr. Anil Bansal on the cover page of The South Asian Times

What are your fondest memories of IITK, and how did IITK shape your personality?
Attending IIT Kanpur in 1972 was a transformative experience for me, especially coming from a humble background. Being at IIT, it was a daily reminder, whether I believed it or not, that I was among the brightest students in the entire country. This constant affirmation boosted my confidence and deepened my respect for society.

One of the greatest aspects of my time at IIT was forging lifelong friendships. In addition to receiving a full scholarship, I also took on some work for a professor, which provided me with extra income. With a generous mindset, I always took care of my peers, engaging in activities and building strong connections. Interacting with students from various regions and diverse backgrounds enriched my perspective and made me a more accepting individual. I discovered commonalities among people with different means, fostering a greater sense of unity.

If you could go back in time and meet your younger self in IITK, what would you tell him now?
Embrace it, my friend! Live in the moments, celebrate joyfully, forge friendships, and let laughter fill your days. Dedicate yourself to diligent and unwavering effort, never allowing setbacks to dampen your spirit. Cherish this present moment, for it holds the potential to become the most remarkable and cherished time of your life.

What is your favorite leisure activity?
I have a profound passion for traveling, and my wife shares the same enthusiasm. Our love for history and nature has led us to explore and experience over 100 countries. Throughout our journeys, certain destinations hold a special place in our hearts, such as our unforgettable visit to Mt Kailash-Mansarovar and our awe-inspiring expedition to Antarctica.

In addition to our adventures, I also consider myself a food enthusiast and take great pleasure in entertaining others. The joy of savoring delectable cuisines and creating memorable dining experiences for guests brings me immense satisfaction.

How would you sum up your life so far?
I have been blessed with the kindness of God, the unwavering support of my family, and the encouragement of those around me. I am immensely grateful to America, which has played a significant role in enabling my achievements. The abundance I have been fortunate to possess has allowed me to contribute back to society, both locally and to my beloved motherland, India.

India holds a special place in my heart, as it has instilled in me the values of humility, respect for others, and the importance of lending a helping hand. From a young age, we are taught in India that the world is a unified family, and this principle resonates deeply within me. India has exemplified this ethos, particularly during the challenging times of the Covid pandemic.

What are your future plans?
My current focus is on uplifting not just humanity as a whole, but specifically my fellow Indians. I am driven to promote their happiness, and success, and to enhance the perception of Indians on a global scale. As a Director of the Indo-American Arts Council based in New York, I actively contribute to showcasing the rich Indian arts and culture. Additionally, I am involved with the FIA (Federation of Indian Associations) New York tristate chapter, which orchestrates the largest India Day Parade outside of India each year.

My philanthropic efforts extend to supporting diverse charities, all with the underlying purpose of fostering a sense of pride and confidence among fellow Indians. It is vital for us to protect and celebrate our deep-rooted Indian arts and culture, while also showcasing them to the world, particularly in America. Simultaneously, I strive to instill a sense of pride within fellow Indians, reinforcing their identities, accomplishments, and our collective worldview of Vasudhaiva Kutumbakam, where the world is viewed as one family.