Being his charming and grounded personality Mahendra Luniya’s talk shined with courage and perks of experience. With his study and market presence today Mahendra Luniya has reached thousands of people through Vighnaharta Gold Ltd and enlightened them about how to make the right investment with gold.
The renowned entrepreneur Mahendra Luniya has shed light on the concept of digital gold and emerged victorious in this field. His unreal belief to increase the economy of the country has led him to find directions to use the yellow metal of our country.
eBiz: How did you start Vighnharta Gold Ltd?
Mahendra: I’ll tell you how all this started. I worked in the share market for almost 20 years and I still do but during my reign, I learned about the trade of precious metals. When I studied the depths of these trade procedures I learned that gold is the ultimate investment for any person in our country. Since the gold market does not fluctuate much, people feel safe investing in gold.
Furthermore, I studied about how other countries are using idle gold to develop their economy. Then slowly I started building my business model and in 2011 I bought the idea of digital gold to India. And today I can proudly say that I am servicing to almost 6000 customers across the country.
With this, I could also help the country and increase the economy of the country. When I realized that this will help the society in a big way, there was no turning back.
eBiz: Could you explain the business model in detail?
Mahendra: Vighnaharta Gold Ltd solely works to liquefy the gold price in the market and create chances for people to earn money and this directly is proportional to the economic growth of the country. In my business, we have contemplated schemes offered to our customers.
Booking Gold – All our customers can book any amount of gold at Rs. 1000 per 10 grams. If you have booked 100grms of gold at the market price of 43,000 per 10 grams then you will pay me only Rs. 10,000 at the booking. The remaining amount you can pay me at no-cost EMI over 12/24/36 months. At the end of the tenure, we will return you the gold through the delivery process from your preferred vendors. Even if the gold rates are high you do not have to pay the extra amount. Also, we have associations with well-established jewellers which adds to availing making charges discount in case you want deliveries from them.
Gold Deposit – This product gives the customer an opportunity to utilise the gold lying idle in our safe lockers. We provide the facility to deposit this gold and earn 5% increment on such gold’s quantity. All the process is guaranteed by a nationalised bank and there are no loopholes to worry about. Also, the gold would be delivered back to you by your preferred jewellers across the country.
eBiz: How did you convince people and raise funds for this business?
Mahendra: My business is completely online and there is not a single penny we deal in cash. When I finalized my business model, I had to make a website and an app. I invested my own money for this business. Today, I’m earning money from all the investments people make with us.
eBiz: What were the different marketing strategies you used to build such a strong customer base?
Mahendra: When I started my business I used to meet new people on an everyday basis. Networking events, other business meet-ups I used to go everywhere and create awareness about my business and the benefits attached to it. Then slowly I gained recognition from various newspapers and presses. Business news channel CNBC Awaaz where I am an associate expert in the Gold Spot segment, along with newspapers like The Afternoon, Sakal, Lokmat and many more have honoured me and printed articles about my business. This has helped me reach out to more people and educate them about my business how it is for their welfare and the welfare of our country.
eBiz: Is it possible for an illiterate person to invest with your company?
Mahendra: The common problem that we face with our customers is trust. Each one hesitates to invest the money due to many reasons. But we assure our customers with complete transparency and national bank guarantee. When a person books gold with us they will be provided with a registered number. With the number, you can check your booking and investment at our website from anywhere at any time.
So any illiterate person can invest with us without any worries. We assure them of the required guidance with our helplines. Also, we offer a complete guarantee from the National Bank of Maharashtra. Till today, we have never had an unsatisfied customer and we diligently abide by transparency and laws.
eBiz: Tell us about your daily routine and hobbies.
Mahendra: I have a very simple and normal life. Usually, I get up at six in the morning and read newspapers and study about the market. I believe that continuous study will always help you to modify your business. Hence, I love reading about my industry. Then I get ready and reach the office by 9 am. With such a strong and dedicated team I hardly work for two hours a day. Post which I am very free and have a lot of time to myself. I meet new people, entrepreneurs and understand their business and keep building my knowledge.
Also, I love travelling. I have travelled to many countries and by now I have seen almost the whole of India. Travelling is very close to my heart. Since my childhood, I have been a foodie. When I travel I try different vegetarian recipes of that land. Personally, I do not prefer non-vegetarian food.
eBiz: What is your aim in life?
Mahendra: I want to support entrepreneurs to bring new ideas and build their business. I feel entrepreneurs are the future of the globe. Hence, I am planning a huge platform for entrepreneurs which will be launched around April 2020. Inspiring entrepreneurs to believe in themselves and their ideas is my aim in life.
What do you do in your free time?
Meet young entrepreneurs on chai pe charcha to know their new business ideas
What is ‘style’ to you?
Simple and impressive professional look
Your favorite food?
Any chatpata veg food
What is your definition of relaxation?
Switching the work is a relaxation
Things without which you don’t leave your home?
Fresh and energetic mind
People, who are dearest to you?
Family & friends