Megha Engineering, the company that spent over ₹1,200 crore on electoral bonds, began life as a small pipe-maker in Hyderabad
electoral bonds was Megha Engineering & Infrastructures Limited (MEIL), which spent over ₹1,200 crore in donations to political parties, according to data made public by the Election Commission of India.
Between April 2019 and November 2023, the Hyderabad-based group shelled out ₹1,232 crore — some of it directly and some through its associated companies. MEIL spent ₹966 crore, while its offshoots Western UP Power Transmission Co Ltd, SEPC Power, and Evey Trans Pvt Ltd spent ₹220 crore, ₹40 crore, and ₹6 crore, respectively.
The combined expenditure puts the Megha Group second on the list of donors, with only Future Gaming having spent more than the infrastructure company.
Megha's mammoth expenditure belies its humble beginnings. What started as a small fabrication unit in 1989, under the name Megha Engineering Enterprises, became MEIL in 2006, growing slowly but surely to rake in a ₹1000 crore turnover in two decades of its existence.
Founded by Pamireddy Pitchi Reddy, a farmer’s son from Andhra Pradesh's Krishna district, Megha started life fabricating pipes for small municipality water projects in Hyderabad's Balanagar, graduating to irrigation and drinking water projects in 1996. At the start of the new decade, the company expanded out of the Telugu state into Rajasthan and Karnataka.
A lot of the company's success is attributed to Pamireddy's nephew, Puritipati Venkata Krishna Reddy.
The big acceleration came between 2010 and 2018, when MEIL embarked upon a rapid diversification journey, foraying into new
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