The dizzy ascent of a fast-mover

HYDERABAD: A Hyderabad-based mineral exporter, Prasad is the founder of Trimex Group which deals with mineral mining in AP. Sources said that Prasad’s clout grew phenominally in the last 8-10 years. He came to prominence in business circles during the TDP regime. Since then the growth of his company was spectacular.Sources said Prasad also became the business ambassador of the government of Ras Al Khimah (RAK), one of the seven emirates in the UAE. He represented the RAK government in his capacity as director of the RAK Investment Authority of UAE.It is learnt that during the Y S Rajasekhara Reddy regime, Prasad allegedly managed to secure the allotment of 471 acres of land at Sultanpur on the city outskirts for RAK, which many say, was a real estate venture. “He had solid clout in the YSR government,’’ sources said. “His prominence grew nationally and internationally.”Prasad’s son Madhu Koneru is the CEO of MEC Holdings based in Singapore and Indonesia. The group’s various units include MEC Coal, MEC Infrastructure, MEC Agriculture, and the MEC Foundation.Sources said that it was his proximity to RAK that Prasad was given the selling rights to the Emaar villas.