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While Laxmanrao Kirloskar, established the group in 1888, his son Shantanurao Laxmanrao Kirloskar played a role in the leadership of the company. [6] [7] The company under Shantanurao Laxmanrao Kirloskar achieved one of the highest growth rates in Indian history, with 32,401% growth of assets from 1950 to 1991. [8] [9]
Laxmanrao Kirloskar could not find a suitable place for his workshop; help came from the Ruler of Aundh who offered him a place and arranging loan of seventeen thousand Indian rupees. In 1910, Laxmanrao started his factory in an arid waste land by the side of a renowned railway station, named Kundal Road.
The town of Kirloskarwadi was founded by Laxmanrao Kirloskar in 1910 when he started his factory, called Kirloskar Brothers Ltd, near the railway station that was at that time called Kundal Road. Laxmanrao Kirloskar had read about "industrial townships" in Europe and USA where the owners of industries had built communities for the employees.
The foundations of Kirloskar Brothers Limited, the flagship company of the Kirloskar Group, were established in 1888 by Laxmanrao Kirloskar and his partner Ramuanna. [6] At the end of the 19th century, Laxmanrao worked with his brother, Ramuanna Kirloskar, to buy bicycles in Bombay and sell them in Belgaum, supplementing their income with bicycle lessons.
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