Building a “sustainable” legacy

Prashant Bangur, Vice Chairman of Shree Cement, blends family values with innovative leadership, steering forward with his hands-on expertise and vision.

In brief

• Prashant Bangur, Vice Chairman of Shree Cement, leverages his diverse experience to steer the company towards innovative and sustainable growth.
• Emphasizing family values, hard work, and strategic vision, he aims to inspire the next generation and ensure Shree Cement’s continued success.

Prashant Bangur, Vice Chairman- Shree Cement

Family ties run deep

Prashant hails from the Bangur family, which is one of the pioneering business families in Kolkata. Prashant’s father, Hari Mohan Bangur, was the second generation to enter the workforce after earning a Bachelor of Technology degree in Chemical Engineering from the Indian Institute of Technology in Mumbai. Prashant’s sister was the first member of the family to get a Chartered Accountant certification, while Prashant himself was the first member to earn an MBA. The fact that his father is the chairperson of the firm he works for, acts as a source of encouragement for him. His grandfather, who is currently serving as Chairman Emeritus, was the one who established the norms and values that are upheld today, by constantly leading by example. Along with his role as the Chairman Emeritus, he is also the Chairman of Sant Parmanand hospital, and attends every board meeting, no matter where they are held — in Delhi or Dubai (the company has a large cement kiln at Ras Al Khaimah in the UAE). One of the tenets Prashant strongly believes in is being handson with the company’s functional requirements yet guiding the management to ensure a bigger picture at the same time. Prashant says, “We have always been a hands-on family and consider that one of our deepest held values. Like my father and grandfather, I intend to work hard for the company and earn my keep.”

Not afraid to fail: His motto in life

Prashant has had valuable learning experiences, and one of the most crucial things he has learned is that setbacks are essential for sustaining success. Prashant’s experience of failing to receive an acceptance letter from any of the IIMs taught him how critical it is to remain positive in facing setbacks to go forward in life. While IIMs seemed to be a far-off target initially, as ISB converted with specialization in finance and supply chain, Prashant also got interview calls from all 4 IIMs and other tier-one colleges. He believes focus, dedication, and sheer commitment are pillars of success. His grandfather was an active influence to instil in him the values of hard work, honesty, respect, energy, passion, and courage. Prashant says, “My grandfather and father motivate and inspire me because they set the tone for our family and its legacy and built a strong foundation, which I hope my children will also observe and learn from.”

Learning the ropes

Even though he could directly work for Shree Cement, one of India’s top three cement groups, Prashant opted to join EY before beginning his MBA. Prashant responds, “EY was a very significant and renowned company, and it is today, as well.” At EY, Prashant saw corporate operations up close and experienced how the industry worked. He remembers that he spent very little time in the office since all the analysts and trainees, along with their partners, would mostly travel for client work, and that is where most of his learning came from. Prashant meticulously investigated every aspect of his job in his early years. Looking back, he believes that those years of experience shaped him and prepared him for what life had in store for him. Despite his short tenure, he received valuable insights into what it is like to be an analyst, which he now applies to make decisions. Prashant always felt EY as the second home and realized that as a company, EY nurtures its relationships.