BITS Pilani has received a generous endowment fund of $1 million (approximately Rs 8.4 crore) from alumni couple Ravinder Kumar Bhat, from the 1978 batch, and Sumita Desarkar, from the 1981 batch. This latest contribution raises their total commitment to the endowment to over $18 million, according to an announcement from the institute.
Desarkar and Bhat, who are serial entrepreneurs based in the UAE, have been residents for two decades. During this time, they have founded businesses spanning diverse sectors such as construction, commodity trading, infrastructure, oil & gas equipment, and event management, as per a statement released by the institute.
This contribution, through the 'Sumita Desarkar & Ravinder K Bhat Fund for Institutional Development,' is a part of the planned $100 million BITS Pilani Endowment Fund. The fund aims to foster institutional growth and promote innovation at the institute.
“BITS Pilani has profoundly shaped our personal and professional journeys not only through its world-class educators, and instilling a strong work ethic but also through the network which we developed and still strongly maintain," said Desarkar.
"We are honoured to give forward to the institute that laid the foundation for our careers and growth with the hope that this contribution will further the legacy of excellence and create new opportunities for future generations,” said Bhat.
According to the institute, this fund will support the upgrade of laboratories, improvements in infrastructure, and research projects, and enhance the overall educational experience for students across all BITS Pilani campuses. This initiative aims to advance the institute's goals of academic excellence and innovation.
“We are deeply grateful for this support. This fund will greatly enhance our efforts towards academic and infrastructural development, pushing the institute toward new horizons,” said V Ramgopal Rao, vice chancellor of BITS Pilani.
“This contribution is a testament to the enduring relationship between our alumni and the institute and their love for the institution. The impact of Sumita and Ravinder’s generosity will resonate for years to come,” said Arya Kumar, dean of alumni relations.