An IIT Delhi alumnus Mohit Mittal has pledged Rs 11 Crores to the institute's Endowment Fund. He had received a BTech degree in Computer Science and Engineering in 2000 from IIT Delhi. Mr Mittal has already paid Rs 2.5 crore as the first tranche of his contribution.
Mr Mittal is currently Managing Director and Portfolio Manager at Pacific Investment Management Company (PIMCO), where he manages Credit, Total Return, LDI and Dynamic Bond portfolios. He joined PIMCO in 2007 and also serves as executive sponsor and steering committee member of PIMCO Multicultural, an IIT statement said.
Recalling his memories about his time at IIT Delhi, Mr Mittal said: “I am extremely thankful to IIT Delhi for everything that I learnt during my 4 years there, which formed the foundations of my professional career. My wife, Shveta, and I sincerely believe that a strong endowment will enable IIT Delhi to serve its students and faculty, and support cutting edge research and entrepreneurship that can be transformative to the entire world for generations to come.”
“We are thrilled to support this magnificent endeavour. We hope to work with a variety of academic disciplines at IIT Delhi like the Department of Energy Sciences & Engineering, Center for Automotive Research and Center for Atmospheric Studies and support their research on many pressing topics impacting our planet today,” he added.
Professor V Ramgopal Rao, Director, IIT Delhi and Chairman, IIT Delhi Endowment Management Foundation said: “IIT Delhi takes great pride in its alumni and celebrates their achievements. Our alumni consider the institute as their second home, and rightly so. I have spoken with Mohit Mittal personally and felt elated seeing his enthusiasm and commitment to help the institute. I feel so glad that the endowment fund initiative, started just over two years ago, is taking deeper roots and expanding its reach. The credit for the success of this initiative largely goes to the alumni themselves.”
Mr Mittal and his wife Shveta are both advocates of strengthening research and key developmental activities around climate concerns, alternative fuels, energy consumption and storage, and are looking forward to working closely in these fields with IIT Delhi, the statement added.