Mansfield millionaire named in top 25 wealthiest Asians in Midlands

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A Mansfield multi-millionaire has been named in the top 25 wealthiest Asians in the Midlands.

Dr Manjit Pawar, based in Mansfield, features at number 23 on the Midlands Asian Rich List with a valuation of £40m.

Dr Pawar - a medical doctor who is also a successful entrepreneur - founded Absolute Care Homes, which provides dementia care and nursing services in the north of England.

His journey to owning a multiple care home business began in earnest when he travelled alone to England without his family as a 12 year old.

He stayed with his uncle and aunt in Wolverhampton where he attended a school.

As a youngster, he had always dreamt of getting into business, but he did not know where to start.

His family had no business experience and he was still an undergraduate student at Nottingham University with no funds of his own other than his local authority grant.

But then, by chance, he met an elderly Indian business gentleman who was visiting the country to try and get Indian goods into the UK market.

The man agreed to export goods without a letter of credit and payments would only be due once Mr Pawar had sold the stock - beginning his entrepreneurial spirit after qualifying as a doctor.

Dr Pawar currently owns eight homes and day centres for the elderly.

Six of them are leased to other healthcare operators, producing yearly rents.

The list values Absolute Care Homes produced an operating profit of just over £1m for the year ending April 2015. The Midlands Asian Rich List and Asian Business Awards has valued him along with his extensive property portfolio at £40m.