Walchand was born on 23rd November 1882 in Solapur,
Maharashtra. Walchand's first step towards his stupendously then successful entrepreneurial career was a small railway contract. He then joined hands with Tata Sons in the starting of the Tata Construction Company, which executed major projects for Bombay Municipal Corporation and Bombay Port Trust. Subsequently, Walchand completed the construction of the Bhor Ghat tunnels ahead of schedule, a Project considered to be beyond the capabilities of any Indian company.
He formed The Premier Construction Company and its fully owned subsidiary Hindustan Construction Company was incorporated to build dams, power houses, jetties, bridges, docks, etc. Success in the competitive fields of construction and contracting spurred Walchand to venture into another highly competitive field, Shipping. Walchand along with his friends form the Scindia Steam Navigation Company. He took the lead in ship building as well and a ship building yard was set up at
Vishakhapatnam. The first 8.000 tons steamship, 'JAL USHA' was launched in March 1948. (This was nationalised and is now known as Hindustan Shipyard).
Walchand's accidental meeting with Mr. Pawley, the President of an American Aircraft Company took him to establish an aero-plane manufacturing company in
called Hindustan Aircraft Limited. The first Harlow Trainer plane built by this company had its test flight in July 1941. On Nationalization this company is today known as Hindustan Aeronautics Limited. With the encouragement and support of Sir. M. Vishweswarayya, Walchand established The Premier Automobiles Limited and in October 1947, the first Indian made trucks and cars rolled out onto the streets of a free India . India
IHP Co. Ltd. fearlier The Hume Pipe and Concrete Construction Company (
) Ltd., is a tribute to the man's dogged perseverance in industry. Walchand decided to revive the industry and in 1926 the present The Indian Hume Pipe India Co. Ltd. was formed.
Walchand established the Ravalgaon Sugar Farm Limited to manufacture sugar of International quality. Walchand's success in agriculture prompted him to start another sugar factory and workshop at a small place called Kalamb which is today known as "Walchandnagar". The small workshop grew into a heavy engineering company called Walchandnagar Industries Limited.