It was in the late 19th century when Bhuramull Chaudhary opened a shop on Juddha Sadak (now New Road), on an initial yearly rental fee of Rs 200, to deal in textiles imported from various parts of India. Bhuramull Chaudhary was among the few privileged businessmen permitted to enter the palace of Rana Prime Minister Juddha Shumsher. He, along with his son Lunkarandas Chaudhary, carried items from his shop to the palace with the help of porters and arranged an open shop in the courtyard for the royals and the courtiers. This business operation used to function under the informal name of Bhuramull Lunkaran Das as the registration of private business firms was not required back then.
Young Lunkarandas took over the business after the demise of his father and went ahead with the business of exporting jute from Biratnagar to overseas markets including United States and Europe. His firms Bhuramull Lunkaran and Arun Impex also used to import fabrics from Japan and Korea.
After the success in textiles and jute trading, Lunkarandas established a number of pioneering industries and businesses in the 1960s and early 70s in the country. To name a few, Flooring and Furnishing Center, Modern Hosiery Industry Pvt Ltd, Nepal Spinning and Weaving Pvt Ltd, Arun Emporium, Arun Impex and Ratna Stainless Steel Pvt Ltd are companies started by him that are consideredto be the first companies in Nepal to start the modern businesses of flooring and furnishing, hosiery, synthetic yarn production, departmental stores and manufacturing of stainless steel utensils using Japanese technology, among others. Established in 1957, United Builders was another major business venture of Lunkarandas which constructed the Hotel Soaltee Crowne Plaza and Kathmandu-Trishuli road.
Binod Chaudhary, the elder among the three sons of Lunkarandas, has been taking the conglomerate to new international heights by establishing a vast business empire throughout the globe. With his efforts, the group in 1985 started production of Wai Wai instant noodles which used to be produced by Thai Preserved Food Factory Company. CG made every effort to turn the precooked brown noodles into an international Nepali brand. Today, Wai Wai has not only become the biggest brand in Nepal but is also the fastest growing Nepali noodles brand in India where its manufacturer CGFI claims to have a 27 percent market share. In a full swing to go global, Chaudhary Group over the last two years has forayed into the European and US noodles market with its flagship brand Wai Wai. The three Chaudhary brothers own and manage separate businesses but use the same CG banner.
After achieving big successes in Nepal, the group made its first international foray with Cinnovation Group in Singapore in 1990. Cinnovation is regarded as the first and only Nepali multinational company to step into the global business arena. It is a multidimensional business approach of the Chaudhary Group which has a wide range of interests in areas including hotels and resorts, wildlife and in-bound tourism, FMCG (food and beverage), real estate,cement and financial services. With 48 companies, Cinnovation has over 4,300 employees across the world.
Chaudhary Group now operates in all five continents of the world. It has 136 companies under its umbrella with a diversified business portfolio in sectors including FMCG, consumer electronics, financial services, hospitality and travel, automobile, education, health, energy, real estate and housing, biotech and agribusiness, among many others.
- Net Worth of Binod Chaudhary and Family : USD 1.37 billion
- Net Worth of CG Corp Globa l: USD 2.5 billion
- (Headquartered in Nepal, with a portfolio of 136 companies and 76 brands spread over 30 different countries.)
- Businesses under Binod Chaudhary excluding banks, finance and insurance company employs 4,500 staff
- FMCG- 15%, Financial Services- 15%, Hospitality- 10%, Electronics- 10%, Others- 50%
- Taj Hotels Resorts & Palaces, a JV between CG Hotels and Resorts, Taj Group & Beyond
- Taj Safaris, a JV between CG Hotels and Resorts, Taj Group and & Beyond
- Jetwing Zinc Journey, a Joint Venture between CG Hotels and JW Hotels
- Summit Hotel is a JV between CG and NE Group
- Fresh investment of over Rs 50 billion in existing businesses in Nepal in the next three years to generate new job opportunities.
- Rapidly increase investments in energy, hospitality and property sectors in Nepal.
- Invest around Rs 17 billion into a 60MW storage hydroelectric project.
- Channel Rs 2.8 billion in 15.1MW Middle Madi and Rs 7.5 billion in 44MW Super Madi hydroelectric projects.
- Planning to invest Rs 10 billion in the real estate sector within 2020; CG Legend, a multipurpose complex spread across 400,000 square feet of land in Pulchowk, being one of the projects.
- Addition of 120 rooms in 35-year-old Summit Hotel at Kupondole at a cost of Rs 2 billion.
- Completion of Zinc City, hotel in Jhamsikhel, through an investment of Rs 1.5 billion.
- Construction of Panchakarma, a wellness centre with 18 villas, in Nawalparasi at a cost of Rs 500 million.
- Proposed: Rs 9.4 billion in cement plants in Palpa and Dumbkibas, Rs 1 billion in CG Brewery, Rs 800 million in Wai Wai plants in Nawalparasi and Sunsari, Rs 250 million in Rio juice factory at Nawalparasi and Rs 200 million in CG Packaging