Hurun India Rich List 2016

Source:Hurun Report Author: IssueTime:2016-09-07

Today Hurun Report released the Hurun India Rich List 2016, a ranking of the richest people in India with a cut-off of INR 1,600 Cr. This is the fifth year of the list.

339 INDIVIDUALS WITH 1,600 CR, UP 43 FROM LAST YEAR AND 250% FROM FIRST HURUN INDIA RICH LIST 5 YEARS AGO

 

WITH INR 1, 63,400 CR, MUKESH AMBANI IS NUMBER ONE IN INDIA FOR 5TH YEAR

 

MUMBAI, NEW DELHI AND BENGALURU MAKE UP 60%, ADDING 26, 10 AND 4

 

127 BILLIONAIRES, A NEW RECORD

 

PALLONJI MISTRY OF TATA ENTERS TOP 3 FOR FIRST TIME

 

VACCINE KING CYRUS POONAWALLA STORMS INTO TOP 5

 

55% ARE FIRST GENERATION ENTREPRENUERS, COMPARED TO 80% IN CHINA

 

10% HAVE MIGRATED FROM INDIA

 

37 PADMA AWARDEES CONTRIBUTE 28% OF WEALTH. PALLONJI MISTRY, INDU JAIN AND DILIP SHANGHVI AWARDED IN 2016, FIRST TIME SOMEONE FROM THE HURUN INDIA RICH LIST SINCE 2014.

 

ACHARYA BALAKRISHNA, 44, OF PATANJALI (‘INDIA’S ANSWER TO UNILEVER’) IS HIGHEST NEW FACE AT 26TH WITH WEALTH OF INR 25,600 Cr

 

13 INDIVIDUALS MADE LIST AFTER GOING IPO IN LAST YEAR

 

 

Hurun Report India releases Hurun India Rich List 2016, presented by India’s leading jewellery brand, Joyalukkas –“World’s Favorite Jeweler”

 

 

·       Hurun Report finds 339 individuals with INR1,600 Cr or more, up 44 from last year and double that of two years ago

·       The average wealth dropped 7% Year on Year, owing to a lackluster performance of key sectors such as Technology, Jewellery and Trading

·       Number of dollar billionaires has increased to127, up 2 from last year. The inaugural Hurun India Rich List in 2012 had 59 billionaires

·       33 have migrated from India and are NRI’s

·       With a cumulative networth of INR 10,318 Cr, the Turakhia brothers (aged 34 & 36) debut the Hurun India Rich List. Their advertising technology company media.net was acquired by Chinese consortium for almost US$1Bn

·       The ‘Usain Bolt’ of the Hurun India Rich List 2016: The fastest riser is Vijay Shekhar Sharma (38) of Paytm, a payment technology company. His wealth shot up by 162% to INR 7,300 Cr. 6 saw their wealth double YoY;

·       125 individuals saw their wealth decline, led by the Jewellery sector, which witnessed strikes because of regulatory duty hikes

·       With a fortune of INR 1, 63,400 Cr, Mukesh Ambani (59) of Reliance holds on to his position as the richest man in India.

·       Pune-based Cyrus Poonawalla (75) of Serum Institute rose to 5th position, from 11th last year, after seeing his wealth grow by 97% to INR 83,000 Cr

·       Whilst Mumbai continues to dominate with 30% of the list residing there, Delhi came in second with 19%, followed by Bengaluru with 8%

·       Pharmaceuticals dominate with 12% of the list, followed by FMCG and Chemicals & Petrochemicals with11% and 6% respectively

·       Only 55% are self-made, down by 1% from last year

·       Savitri Jindal (66), the richest woman in the list with the fortune of INR 35,000 Cr saw her wealth rise by 123%; This is backed by the stellar performance of JSW steel, which doubled in value over the past year

·       The combined wealth of India’s richest is a staggering US$482Bn, equating to 1/5thof India’s GDP last year and larger than the GDPs of UAE ($325Bn), South Africa ($266Bn) &Singapore ($294Bn)

·       Leading Authority on India’s private wealth, Hurun Report launches the India Rich List for the fifth time

 

(Bengaluru, 7th September, 2016): Today Hurun Report released the Hurun India Rich List 2016, a ranking of the richest people in India with a cut-off of INR 1,600 Cr. This is the fifth year of the list, which has become a benchmark for the private sector and has become widely accepted to be the most robust attempt at covering entrepreneurship in India. Wealth calculations are a snapshot of the net worth of living individuals as at 31 July 2016 when the rate of exchange to the US dollar was INR 66.69.

 

“Despite an above average monsoon and a steep 24% wage hike, India Inc. fails to cheer the market, resulting in a muted growth in average wealth for 2016. Subdued investors interest in e-commerce and online businesses declined valuations of ecommerce unicorns in 2016 as compared to 2015”, says Anas Rahman Junaid, Hurun Report India, Managing Director and Chief Researcher.

 

Mukesh Ambani (59) running the oil to yarn conglomerate ranked first in the list for the fifth consecutive year. He recently launched Jio and has "declared war" with rest of the telecom operators through aggressive market entry strategy. His strategy of reaching 90% of India's population has the potential of placing him at the top 3 in Hurun Global Rich List. Recently, his wife Nita Ambani became the first Indian woman member of International Olympic Committee.

 

With a net worth of INR 1, 21,500 Cr, Dilip Shanghvi (60) of Sun Pharma retains his second position. On May 2016 Dilip Shanghvi withdraws plans to form a payments bank jointly with the Indian financial firm IDFC Bank and an arm of Norway's Telenor. The Government of India awarded him the Padma Shri, fourth largest civilian honor in 2016.

 

The man who constructed iconic RBI HQ and Bombay Stock Exchange in Mumbai, Pallonji Mistry (87) nicknamed 'Phantom of Bombay House' is on the third position with a net worth of INR 1, 10,100 Cr. The government of India bestowed him with Padma Bhushan third highest civilian award in 2016. Mistry’s primary source of wealth remains his 18.4% stake in Tata Sons, the holding company for the US$130 Bn Tata Group. Backed by the stellar performance of the group, he rose to top 3 for the first time, from 5th last year.

 

SP Hinduja & family aggregated their wealth at INR 1, 00,700 Cr. The Hindujas lost their “bronze medal” to Pallonji Mistry. The automobile-to-financial services conglomerate plans to expand business in automotive, oil, chemicals, trading and infrastructure sectors across Africa by investing US$1 Bn in next five years.


 

 

Table 1: Hurun India Rich List 2016 – Top 10

 

Rank

Name

Wealth INR Cr

Change

Company

Age

Residence

1-

Mukesh Ambani

163,400

2%

Reliance

59

Mumbai

2-

Dilip Shanghvi

121,500

-4%

Sun Pharma

60

Mumbai

3↑

Pallonji Mistry

101,100

16%

Shapoorji Pallonji

86

Mumbai

4↓

SP Hinduja & family

100,700

-2%

Hinduja

81

London

5↑

Cyrus S Poonawalla

83,000

97%

Serum

74

Pune

6↑

Azim Premji

74,700

44%

Wipro

71

Bengaluru

7↓

Shiv Nadar

73,000

-22%

HCL

71

New Delhi

8↓

LN Mittal

66,900

-20%

ArcelorMittal

66

London

9↑

Uday Kotak

51,600

8%

Kotak Mahindra

57

Mumbai

10↓

Sunil Mittal & Family

50,300

4%

Bharti Airtel

58

New Delhi

↑ Rank increase yoy Rank decrease yoy - No Rank change yoy * New to Top 10

Source: Hurun Research Institute. For more details visit www.hurun.net

 

Cyrus S Poonawalla (72) world's largest manufacturer of vaccines deriving 82% revenue from overseas market witnessed a 97% jump wealth backed by industry leading net profit margin 55% compared to the industry average margin. In November 2015 Poonawalla group announced “Poonawalla Clean City Movement” first of its kind in the country to spend INR 100 Cr to turning Pune into one of the cleanest cities in the country.

 

Azim Premji (71) also known as the Czar of the Indian IT Industry completed 50 years of leading Wipro. Mr. Premji who was 21 years old then, joined Wipro on 1966 as chairman after returning from Stanford University transformed an enterprise focused on vegetable oil business to an IT company in 1981. He wrote a single cheque of US$150Mn for investment into Ranjan Pai’s MEMG, the highest individual investment amount.

 

Shiv Nadar (71) lost INR 21,000 Cr in 2016 and slipped to 7th rank with a net worth of INR 73,000 Cr from 4th rank in 2015. According to a leading Indian financial daily, his flagship company HCL lost at least US$1.5 Bn worth of contracts last year. This could be due to the trend of clients shifting towards cloud computing.

 

Steel baron Lakshmi Niwas Mittal (66) faced a meltdown of INR 16,300 Cr of his wealth due to the steel crisis, but it is still every fifth car uses the steel manufactured by Mittal’s company. ArcelorMittal reported a net loss of US$7.9 Bn in 2015 mostly because of a US$4.8 Bn write-down on iron ore mining business and a US$1.3 Bn charge on inventory due to the global steel price plunge.

 

Uday Kotak (57) climbed to 9th rank 2016 backed by the 9% increase in the share price Kotak Mahindra Bank in which he holds 33.7% stake. Kotak Mahindra Bank acquired a 20% stake in Airtel M-Commerce Services, a subsidiary of Bharti Airtel holding a payments bank license.

 

Sunil Mittal & Family – Sunil Mittal (58), is the founder of Bharti Enterprises, which has interests ranging from telecommunications and retail to financial services and solar power step down to 10th rank owing to 13% decline in the flagship company Bharti Airtel’s share price. Rising competition form Reliance Jio Bharti Airtel invested more than US$4 Bn in 2015 into network improvements and plan to invest US$9 Bn over three years.


Mumbai Top again


With 104 individuals, Mumbai is the capital for India’s super-rich, followed by New Delhi (65) and Bengaluru (28)

 

Table 2: Geographical spread of Hurun India Rich List 2016

 


 City

No. of individuals

% change

Change in no of individuals

 Richest person

1-

Mumbai

102

30%

+17

Mukesh Ambani

2-

New Delhi

65

19%

+10

Shiv Nadar

3-

Bengaluru

28

8%

+4

Azim Premji

4*

Hyderabad

18

5%

+8

PV Ramaprasad Reddy

5

Kolkata

14

4%

+4

Benu Gopal Bangur

6-

Pune

13

4%

+2

Cyrus S Poonawalla

7

Ahmedabad

11

3%

+1

Gautam Adani

8

Dubai

10

3%

-3

Micky Jagtiani

↑ Rank increase yoy ↓ Rank decrease yoy - No Rank change yoy * New to Top 8

Source: Hurun Research Institute. For more details visit www.hurun.net

 

 

 

Richest migrants

 

UAE & UK are the capitals for NRIs. 33 are based outside India, led by SP Hinduja & Family (Hinduja Group, London), followed by LN Mittal (ArcelorMittal, London), Yusuffali MA (Emke Group, Abu Dhabi), Micky Jagtiani (Landmark Group, Dubai), Anil Agarwal (Vedanta Resources, London) and Romesh T Wadhwani (Symphony Technology, Palo Alto)


Table 3: Hurun India Rich List 2016 – Richest Non-Resident Indians

 


Names

Wealth

(INR Cr)

City

Company

Age

1

SP Hinduja & family

100,700

London

Hinduja

82

2

LN Mittal

66,900

London

ArcelorMittal

66

3

Yusuffali MA

36,600

Abu Dhabi

Emke

60

4

Micky Jagtiani

34,400

Dubai

Landmark

65

5

Romesh T Wadhwani

19,400

Palo Alto

Symphony

69

6

Ravi Pillai

18,800

Dubai

RP Group

63

7

Rakesh Gangwal

15,900

Miami

Interglobe Enterprise

63

8

Sunny Varkey

14,200

Dubai

Gems Education

59

9

Anil Agarwal

13,700

London

Vedanta Resource

62

10

Kavitark Ram Shriram

13,100

Menlo Park

Google

59

Source: Hurun Research Institute. For more details visit www.hurun.net

 

 

Pharmaceutical sector rules


The fastest wealth growing sector is transportation which grew by 65% followed by Construction materials and Retailing. The huge growth in transportation sector is supported by IPOs of airlines and logistics companies. Pharma has produced 12% of entries in the Hurun India Rich List 2016, followed by FMCG and Chemicals & Petrochemicals. Other industries that have had a good year include Financial Services and Textiles.

 

Table 4: Hurun India Rich List 2016 – Industry breakdown

 


Industry

%

change

Richest individual

1-

Pharmaceuticals

12%

Up 3%

Dilip Shanghvi

2-

FMCG

11%

Up 2%

Anand Burman

3↑

Chemicals & Petrochemicals

6%

same

Madhukar Parekh

4↓

Consumer Durables

6%

same

Adi Godrej

5↑

Financial Services

6%

Up 2%

Uday Kotak

6↓

Automobiles & Auto Components

4%

Down 1%

Vikram Lal

7↑

Construction & Engineering

4%

same

Pallonji Mistry

8↓

Realty

4%

Down 1%

Kushal Pal Singh

9*

Software & Services

4%

same

Azim  Premji

10*

Textile

4%

Up 1%

Ramesh Genomal

↑ Rank increase yoy ↓ Rank decrease yoy - No Rank change yoy * New to Top 10

Source: Hurun Research Institute. For more details visit www.hurun.net

 


 

Top Gainers

 

The biggest gain registered was a 162% increase by Vijay Shekhar Sharma (38), the founder of Paytm. Rakesh Gangwal, “the king of blue skies”, boosted his networth to INR 15,900 Cr, supported by the post IPO performance of Indigo Airlines. Paytm was one of the first Indian investments of Alibaba last year.

 

Table 5: Hurun India Rich List 2016 – Biggest Gainers


Name

Wealth (INR Cr)

% Change

Company

Location

Industry

1

Vijay   Shekhar Sharma

7,300

162%

Paytm

New Delhi

Technology

2

Rakesh   Gangwal

15,900

153%

InterGlobe   Enterprise

Miami

Transport   Services

3

BR Shetty

11,000

142%

UAE   Exchange

Abu Dhabi

Financial   Services

4

Savitri   Jindal & Family

35,000

123%

JSW Steel

Hisar

Metals   & Mining

5

Yusuffali   MA

36,600

109%

Emke

Abu Dhabi

Retailing

6

Jai Hari   Dalmia & Family

8,400

109%

Dalmia   Bharat

New Delhi

Construction   Materials

Source: Hurun Research Institute. For more details visit www.hurun.net



All the young entrepreneurs under 40 in Hurun India Rich List 2016 are active in their respective business

 

  • At 61, the average      age is same as that of last year; with 11 under 40

  • The youngest      person on the list is Bhavish      Aggarwal (30), co-founder of Olacabs

  • The oldest is Murli Kewalram Chanrai, 93, of      Kewalram Chanrai

 

Table 6: Hurun India Rich List 2016 – Entrants under 40


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Source: Hurun Research Institute. For more details visit www.hurun.net






Only 4% women


Men dominate, with just 4% women occupying a place in the list. The only self-made women entrepreneur is Bengaluru-based Kiran Mazumdar-Shaw (63) of Biocon, with a networth of INR 10,800 Cr.

 

Savitri Jindal (66), is the richest woman with a personal fortune pegged at INR 35,000 Cr and bags the 18th position in the Hurun India Rich List 2016. Her flagship company JSW Steel, run by her sons had a good year last year, owing to backward integration; this resulted in doubling share price of JSW. She is the only politically affiliated women in Hurun India Rich List 2016. She is followed by Indu Jain (79) at INR 28, 000 Cr.

 

 

Table 7: Hurun India Rich List 2016 – Richest Women in India

 


Name

Wealth

%

Change

Age

 Company

Location

Industry

(INR Cr)

1

Savitri Jindal & Family

35,000

123%

66

JSW Steel

Hisar

Metals & Mining

2

Indu Jain

28,000

46%

79

Bennett Coleman

New Delhi

Media

3

Smitha V Crishna

15,700

New

66

Godrej

Mumbai

Consumer Durables

4

Vinod Gupta

14,800

25%

71

Havells India

New Delhi

Consumer Durables

5

Mallika Srinivasan

11,700

23%

57

TAFE

Chennai

Automobiles & Auto Components

6

Kiran Mazumdar-Shaw

10,800

76%

63

Biocon

Bengaluru

Pharmaceuticals

7

Nilima Motaparti

7,100

New

34

Divi's Lab

Hyderabad

Pharmaceuticals

8

Anu Aga

7,000

-14%

74

Thermax

Pune

Capital Goods

9

Madhu Kapur

5,600

43%

59

Yes Bank

Mumbai

Financial Services

10

Sophie Ahmed

2,600

New

-

Cipla

Mumbai

Pharmaceuticals

Source: Hurun Research Institute. For more details visit www.hurun.net

 

 

The IPO millionaires

 

The companies of 13 individuals went public this year. 10 New IPO’s hits Indian bourses of which 7 IPOs contributed 8 members to this year list. Healthcare contributes three names to IPO millionaire’s in 2016.

 

 

 

Table 8: Hurun India Rich List 2016 – Latest IPO’s

 


Name

Wealth

Age

 Company

Location

Industry

(INR Cr)

1

Rakesh Gangwal

 15,900

63

Interglobe  Enterprise

Miami

Transport Services

2

Samprada Singh

 13,800

91

Alkem Laboratories

Mumbai

Pharmaceuticals

3

Rahul Bhatia*

 13,300

61

Interglobe  Enterprise

New Delhi

Transport Services

4

Arvind Lal & Family

 5,100

67

Dr. Lal PathLabs

New Delhi

Healthcare

5

VG Siddhartha

 4,100

57

Café Coffee Day

Bengaluru

Hotels & Restaurants

6

Kapil Bhatia

 2,600

84

Interglobe  Enterprise

New Delhi

Transport Services

7

Arokiaswamy Velumani

 2,100

58

Thyrocare Technologies

Mumbai

Healthcare

8

Vasant Laxminarayan Rathi & Family

 2,100

68

Advanced Enzyme Technologies

Yorba Linda

Chemicals & Petrochemicals

9

Devi Prasad Shetty

 2,000

63

Narayana Hrudayalaya

Bengaluru

Healthcare

10

Shakuntala Shetty

 1,900

-

Narayana Hrudayalaya

Bengaluru

Healthcare

11

Ajit Abraham Isaac

 1,900

49

Quess Corp

Bengaluru

Other Services

12

Vishal Ajitbhai Mehta

 1,800

42

Infibeam

Ahamedabad

Retailing

13

Kedar Ramesh Vaze & Family

 1,700

42

SH Kelkar & Company

Mumbai

Chemicals & Petrochemicals

Source: Hurun Research Institute. For more details visit www.hurun.net

 

 

Entrepreneurs appreciated by the government of India

 

37 are Padma awardees, of which four are women. Three individuals were awarded in the last year, led by Pallonji Mistry, Indu Jain and Dilip Shanghvi, the first time someone from the Hurun India Rich List was awarded since 2014.

 

There is no one in Hurun India Rich List 2016 who has received the highest civilian award, “Bharat Ratna”. 5 individuals hold either of the two awards. For instance Kiran Mazumdar Shaw of Biocon and Devi Prasad Shetty of Narayana Hrudayalaya holds both Padma Shri and Padma Bhushan. Pratap reddy of Apollo Hospitals and Ratan Tata of Tata Sons holds both Padma Vibhushan and Padma Bhushan.

 

  

Table 9: Hurun India Rich List 2016 – Padma awardees

 


Award

Number

Richest

 Company

Wealth (INR Cr.)

1

Padma Vibhushan

 5

LN Mittal

ArcelorMittal

66,900

2

Padma Bhushan

 20

 

Pallonji Mistry

SP Group

1,01,100

3

Padma Shri

  17

Dilip Shanghvi

Sun Pharma

1,21,500

Source: Hurun Research Institute. For more details visit www.hurun.net

 

 

Table 9.1: Hurun India Rich List 2016 – Padma awardee details

Padma Award

Name

Company

Year

Vibhushan & Bhushan

Prathap   Reddy

Apollo   Hospitals

2010/1991

Ratan   Tata

Tata   Sons

2008/2000

Vibhushan   & Shri

NR   Narayana Murthy

Infosys

2000/2008

Vibhushan

LN   Mittal

ArcelorMittal

2008

Prithvi   Raj Singh Oberoi

East   India Hotels

2008

Bhushan & Shri

Kiran   Mazumdar-Shaw

Biocon

2005/1989

Devi   Prasad Shetty

Narayana   Hrudayalaya

2012/2004

 

 

 

 

 

 

 

 

 

Bhushan

Pallonji   Mistry

Shapoorji   Pallonji

2016

Azim   Premji

Wipro

2011

Shiv   Nadar

HCL

2008

Sunil   Mittal

Bharti   Airtel

2007

Indu   Jain

Bennett   Coleman

2016

Kushal   Pal Singh

DLF

2010

Rahul   Bajaj

Bajaj   Auto

2001

Adi   Godrej

Godrej

2013

Jamshyd   Godrej

Godrej

2003

Baba   Kalyani

Bharat   Forge

2008

Yusuf   Hamied*

Cipla

2005

S   Gopalakrishnan

Infosys

2011

Analjit   Singh

Max   India

2011

Nandan   Nilekani

Infosys

2006

Swraj   Paul

Caparo   Group

1983

SP   Oswal

Vardhman   Textiles

2010




 

 

 

 

 

 

 

Shri

Dilip   Shanghvi

Sun   Pharma

2016

Cyrus   S Poonawalla

Serum

2005

Yusuffali   MA

Emke

2008

Ravi   Pillai

RP

2010

Sunny   Varkey

Gems   Education

2009

Mallika   Srinivasan

TAFE

2014

BR   Shetty

UAE   Exchange

2009

Karsanbhai   Patel

Nirma  

2010

Azad   Moopen

DM   Healthcare

2011

Anu   Aga

Thermax  

2010

Jawaharlal   Gangaramani

Al   Fara

2010

Naresh   Trehan

Medanta   Medicity

1991

Shobhana   Bhartia

Hindustan   Times

2005

Rajinder   Gupta

TridentGroup

2007

Source: Hurun Research Institute. For more details visit www.hurun.net

 

 

Largest public traded companies

 

Of the publicly traded companies on the list, Mukesh Ambani’s Reliance has the highest valuation of INR 3,19,700 Cr (contributing 5.35% to the NIFTY index), followed by Infosys with INR 2,46,600 Cr and Sun Pharmaceutical INR 1,99,500 Cr. Followed by Tata Motors & Kotak Mahindra with market cap of INR 1,45,200 and INR 139,800 Cr respectively.

 

 

Table 10: Hurun India Rich List 2016 - Self-Made Degree 

 

Self-Made Degree

No Of Individuals

Richest Individual

Company

Age

Wealth INR Cr.

5

30

Shiv Nadar

HCL

71

73,000

4

173

Dilip Shanghvi

Sun Pharma

60

121,500

3

128

Mukesh Ambani

Reliance

59

163,400

2

1

Anil Ambani

ADA Reliance

57

28,500

1

3

Savitri Jindal

JSW Steel

66

35,000

Source: Hurun Research Institute. For more details visit www.hurun.net

 

Hurun Report continued its Self-Made Scorecard, measuring the degree to which billionaires are inherited or self-made. The scorecard is out of five, where 1 is inherited and not active in business, and 5 is self-made without help from parents.

 

Self-made with a little help from parents was the most common route to becoming a billionaire, featuring 51% of the list.  Second was self-made without help from parents, making up 9% of the list. Third was inheriting a business and growing it into a much bigger entity, with 38% and only one person was Self-Made Degree 1.



Industry analysis


The industries that added the most number of new millionaires to the list were pharmaceuticals, FMCG, financial service, chemicals and engineering & construction.

 

For a snapshot of the industry that added most number of new entries, refer the table below.

 

Table 11: Industry producing most number of new entrants

 

Industry

New additions

Cumulative Wealth (INR Cr)

Richest New Individual 

Company

Pharmaceuticals

13

56,100

B Parthasaradhi Reddy

Hetero group

FMCG

11

50,300

Acharya Balakrishna

Patanjali

Textiles, Apparels & Accessories

7

14,900

Rameshchandra T Jain

Bhilosa Industries

Chemicals& Petrochemicals

6

11,200

Vinod Saraf

Vinati Organics

Financial Services

6

14,600

Raamdeo Ramgopla Agarwal

Motilal Oswal

Source: Hurun Research Institute. For more details visit www.hurun.net

 

Pharmaceuticals

With an astounding figure of 21 Billionaires and 18 other individual mentions in the list, pharma sector has registered the highest contribution to the list. In 2016, the sector witnessed a 17% growth in cumulative wealth compared to 2015. The number of individuals doubled. Although the growth in cumulative wealth is substantially driven by the performance of private players, it should be noted that the listed players fared poorly. For instance, in 2015 the listed players registered a 66% average growth in share price compared to 9% in 2016. The vaccine icon Cyrus S Poonawalla of Serum Institute of India elevated his position by 6 ranks and is now comfortably placed in Top 5.

 

 

FMCG

In 2016 when most sectors failed to keep up the momentum, FMCG registered a decent growth of 14% in terms of the cumulative wealth. Yoga Acharya’s Patanjali took the market by storm and is eating away market share of other multinational FMCG’s. Patanjali registered a turnover of INR 5,000 Cr and expects to hit INR 10,000 Cr in 2017.

 

 

Chemicals & Petrochemicals

 

21 individuals derived their wealth from the Chemicals & Petrochemicals sector. 6 new entrants are in the list. This sector saw its wealth increase on an average of 18% compared to that of last year. Gurbachan Singh & Kuldip Singh Dhingra, Berger Paints, saw their wealth grow by 53%during the period 2015-16. Devendra Kumar Jain (87), of Gujarat Flourochemicals is the oldest billionaire from this sector.

 

 

Consumer Durables

 

Baked by increased disposable income and technological innovations, the entrepreneurs in consumer durable industry showed a positive trend with decent 5% growth in average wealth. The sector produced 3 new entrants to the list. As per studies, the consumer durables market is expected to expand at a compounded annual growth rate of 14.8% and Hurun Research Institute expects significant wealth creation in the near future.

 

 

Financial Service

 

Financial Services added 6 new faces into the list. The sector is topped by Uday Kotak (age 57, networth INR 51,600 Cr) followed by Sameer Gehlaut (age 42, INR 10,400 Cr). The Muthoot Finance produced most number of individuals from the financial services in Hurun India Rich List 2016.

 

 

Stock Markets Performance

 

Bombay Stock Exchange (BSE) Sensex went down by 0.2% from 28,114 on July 31, 2015to 28,051 on July 31, 2016. For the year under review, BSE Mid Cap (12.3%) and BSE Small Cap Index (3.23%) outperformed the benchmark index. Sensex failed to outperform Global indices S&P 500 (3.3%) and DJIA (4.2%). At a sectorial level, Healthcare and IT underperformed among the sectorial indices. All the others performed with at least 10% return – the biggest gainer was metals with a 36.26% return year to date. Currently, Indian stock market seems to be trading at an attractive valuation 19.6x compared to last year’s 20.2x.

 


 

This year’s Hurun India Rich List reveals some interesting nuggets of information

 

·       Promoters of Essar Oil Limited completed largest privatisation in Indian corporate history with delisting of Essar Oil Limited at a market valuation of INR 38,000 Cr (USD 5.7 Bn)

·       MEMG, the flagship company of Ranjan Pai holds the record of highest number of successful exit rounds in Indian companies. MEMG has given 11 exit rounds for its investors

·       With a strong performance backed by JSW steel, the richest women in the Hurun India Rich List has doubled her wealth (123%) when other steel companies under performed.

·       125 individuals saw their networth fall

·       This year Hurun India Rich List added 6 new billionaires to the list

·       11% of the list are Padma awardees

·       Kiran Mazumdar Shaw of Biocon is the only woman in Hurun India Rich List 2016 to receive both Padmasri and Padmabhushan

·       Clocking a turnover of YoY growth of 12% in domestic sales, Joyalukkas Group had a good year in 2016 in India. The main source of revenue is from Joy Alukkas India Pvt. Ltd and Joy Alukkas Holdings, which are two separate companies 100% owned by Mr Joy Alukkas. His wealth went up by 14% this year

Wealth and Philanthropy

·       Azim Premji, who secured sixth rank in India Rich List is the number one in Hurun India Philanthropy List 2015.

·       Mukesh Ambani, Pallonji Mistry, Azim Premji and Shiv Nadar – top 10 in Hurun India Rich List 2016, also finds a place in top 10 of Hurun India Philanthropy List 2015.

·       Led by Mukesh Ambani, five Indians feature in top 100 of Hurun Global Rich List 2015. India’s richest person is ranked 21 in Hurun Global Rich List 2015


 

Table 12: Obituary – Hurun Indian Rich List 2016

 

Name

Company

Age at the time of death

Networth 2015    (INR Cr)

Brijmohan   Lall Munjal

Hero Moto

92

23,400

Pralhad   P Chhabria

Finolex industries

86

2,200

MAM   Ramaswamy

Chettinad Cement

84

3,000

Source: The Hurun Research Institute 2016

 

Brijmohan Lall Mujals wealth inherited by his three sons equally as per the family settlement agreement. For Pralhad P Chhabria and MAM Ramaswamy wealth inherited by sons Prakash P Chhabria and MAMR Muthiah respectively.
Stats: Record Highs

 

·       Cut-off to make the list was INR 1600 Cr, with a record high of 339 individuals, up from 296 last year and 235 the year before.

·       The number of dollar billionaires has jumped to a record high too, with 127 individuals, up 1 from last year.

Table 13: Table analyzing cut off and number of entrepreneurs in Hurun India Rich List

 

Year

Cut-off

INR Cr

No. of people

in the list

No. of
  $ billionaires



2012

1600

100

59


2013

1800

141

63


2014

1800

230

109


2015

1600

296

124


2016

1600

339

127


Source: The Hurun Research Institute 2016


Cut-off (in INR Cr)


Table 14: Table analyses the cut-off required for Top 10, 50 and 100



2016 INR Cr

2015 INR Cr

2014 INR Cr

2013 INR Cr

2012 INR Cr

Top 10

50,400

47,000

44,000

46,600

30,700

Top 50

14,900

15,100

11,500

7,600

5,900

Top 100

7,600

7,900

6,500

3,800

1,600

Source: The Hurun Research Institute 2016


 

 

Table 15: Companies that produced the highest number of individuals on the list

 

Company Name

No. of individuals

Infosys

5

Godrej

5

DS

4

Micromax

4

Polycab

4

Muthoot Finance

4

 

 

GRL 2015

The Hurun Global Rich List 2015 ranked 2189 billionaires from 68 countries, up 222 from last year, in a record-breaking year for the world’s billionaires. 649 saw their wealth increase and there were 341 new faces. 230 remained unchanged. 869 individuals saw their wealth decrease. 95 dropped out of last year’s list. The Russian Rouble collapse, brought about by a stagnating Russian economy, sanctions due to Ukrainian conflict and cheaper oil price by the OPEC, has been the cause for 60% of Russian billionaires to see their wealth drop, led by Vladimir Yevtushenkov and Vagit Alekperov of Lukoil whose wealth fell by 77% and 73% respectively. Although the list expanded by 222 individuals, the total wealth dropped by 1.5% to US$6.7 trillion, still more than the GDP of Japan and South Korea combined.

 

 

Methodology

 

The Hurun India Rich List is a snapshot of wealth as on 31 July 2016. The exchange rate used for US$ was INR 66.7.  The list relates to Indians only, defined as born or brought up in India origin their passport today.

 

Valuing the wealth of India’s richest is as much an art as it is a science.  Sure, we have missed some, but we believe the Hurun India Rich List to be the most serious attempt to identify India’s top entrepreneurs and to measure their holdings.  Our team of researchers has - for the fifth year running - traveled the length and breadth of the country cross-checking information with entrepreneurs, industry experts, journalists, bankers, and regulators, as well as previous years’ databases. For non-listed companies our valuation was based on a comparison with their listed equivalents using prevailing industry multiples such as Price to Earnings, Price to Sales, EV to Sales, EV to EBITDA and also other methodologies including Discounted Cash Flow, Tobin’s Q and so on. In certain cases of early stage companies, we have used First Chicago Method for valuation.

 

This year, we have split out siblings, so companies like Muthoot Finance have been split across four individuals.

 


 

For details on other India based publication please refer the following links

 

Hurun India Rich Lists

 

http://hurun.net/EN/HuList.aspx?nid=1033

 

 

Hurun India Philanthropy List

 

2015 http://www.hurun.net/en/ArticleShow.aspx?nid=15701

 

2014 http://www.hurun.net/EN/ArticleShow.aspx?nid=9583

 

2013 - http://www.hurun.net/en/ArticleShow.aspx?nid=213

 


 

Hurun India Rich List 2016 -- Top 100

RankChangeNameSelfmadeWealthCompanyIndustryAgeResidenceWealth in
in RankscoreINR CrUSD 000' Mn
10Mukesh Ambani3163,400Reliance Oil & Gas59Mumbai24,501
20Dilip   Shanghvi4121,500Sun   PharmaPharmaceuticals60Mumbai18,219
32Pallonji   Mistry3101,100Shapoorji   PallonjiConstruction   & Engineering86Mumbai15,160
4-1SP   Hinduja & Family3100,700HindujaDiversified82London15,100
56Cyrus   S Poonawalla483,000SerumPharmaceuticals75Pune12,446
61Azim   Premji474,700WiproSoftware   & Services71Bangalore11,201
7-3Shiv   Nadar573,000HCLSoftware   & Services71New   Delhi10,946
8-2LN   Mittal466,900ArcelorMittalMetals   & Mining66London10,031
91Uday   Kotak551,600Kotak   MahindraFinancial   Services57Mumbai7,737
10-1Sunil   Mittal & Family450,300Bharti   AirtelTelecom   Services58New   Delhi7,542
112Kumar   Mangalam Birla345,500Aditya   BirlaDiversified49Mumbai6,823
12-4Gautam   Adani442,400Adani   EnterprisesDiversified54Ahmedabad6,358
13-1Anand   Burman & Family341,800DaburFMCG64New   Delhi6,268
140Desh   Bandhu Gupta440,400LupinPharmaceuticals78Mumbai6,058
157Benu   Gopal Bangur439,000Shree   CementsConstruction   Materials85Kolkata5,848
1621Yusuffali   MA536,600EmkeRetailing60Abu   Dhabi5,488
174Subhash   Chandra435,100ZeeMedia65Mumbai5,263
1827Savitri   Jindal & Family135,000JSW   SteelMetals   & Mining66Hisar5,248
190Micky   jagtiani434,400LandmarkRetailing65Dubai5,158
20-2Vikram   Lal333,800Eicher   MotorsAutomobiles   & Auto Components74New   Delhi5,068
21-4Pankaj   Patel331,000CadilaPharmaceuticals65Ahmedabad4,648
221Anil   Ambani228,500ADA   RelianceDiversified57Mumbai4,274
234Madhukar   Parekh & Family328,200PidiliteChemicals   & Petrochemicals70Mumbai4,229
248Indu   Jain328,000Bennett   ColemanMedia79New   Delhi4,199
25NewAcharya   Balakrishna425,600Patanjali   AyurvedFMCG44Haridwar3,839
262Shashi   Ruia425,300EssarOil   & Gas72Mumbai3,794
262Ravi   Ruia425,300EssarOil   & Gas67Mumbai3,794
282Ashwin   Dani325,000Asian   PaintsChemicals   & Petrochemicals74Mumbai3,749
2911Kushal   Pal Singh423,200DLFRealty84New   Delhi3,479
30-6Rahul   Bajaj320,700Bajaj   AutoAutomobiles   & Auto Components78Pune3,104
31-11Nusli   Wadia320,400BritanniaFMCG72Mumbai3,059
321Harsh   Mariwala319,600MaricoFMCG65Mumbai2,939
332Romesh   T Wadhwani419,400Symphony   Technology Investments69Palo   Alto2,909
347PV   Ramaprasad Reddy*419,200Aurobindo   PharmaPharmaceuticals58Hyderabad2,879
3511Vijay   Chauhan & Family319,100Parle   ProductsFMCG80Mumbai2,864
3618Vivek   Chaand Sehgal418,900Motherson   Sumi SystemAutomobiles   & Auto Components59New   Delhi2,834
3716Ravi   Pillai518,800RPConstruction   & Engineering63Dubai2,819
3812Ashwin   Choksi318,300Asian   PaintsChemicals   & Petrochemicals73Mumbai2,744
3913Abhay   Vakil317,500Asian   PaintsChemicals   & Petrochemicals65Mumbai2,624
403Rajan   Raheja416,900Exide   IndustriesAutomobiles   & Auto Components62Mumbai2,534
4174Rakesh   Gangwal415,900Interglobe   EnterpriseTransport   Services63Miami2,384
42-27Adi   Godrej*315,700GodrejConsumer   Durables74Mumbai2,354
42-27Jamshyd   Godrej*315,700GodrejConsumer   Durables67Mumbai2,354
421Rishad   Naoroji115,700GodrejConsumer   Durables64Mumbai2,354
42NewNadir   Godrej315,700GodrejConsumer   Durables65Mumbai2,354
42NewSmitha   V Crishna315,700GodrejConsumer   Durables66Mumbai2,354
47-10Chandru   Raheja415,300Shoppers   StopRetailing76Mumbai2,294
489Kalanithi   Maran315,200Sun   NetworkMedia52Chennai2,279
4946Hasmukh   Chudgar & Family415,100Intas   PharmaPharmaceuticals83Ahmedabad2,264
50-19Ajay   Piramal314,900Piramal   EnterprisePharmaceuticals60Mumbai2,234
5112Vinod   gupta314,800Havells   IndiaConsumer   Durables71New   Delhi2,219
5225Sunny   Varkey314,200Gems   EducationOther   Services59Dubai2,129
5319Samprada   Singh413,800Alkem   LaboratoriesPharmaceuticals91Mumbai2,069
54-29Anil   Agarwal413,700Vedanta   ResourceMetals   & Mining62London2,054
5554Rahul   Bhatia*413,300Interglobe   EnterpriseTransport   Services61New   Delhi1,994
563Kavitark   Ram Shriram413,100Google Software   & Services59Menlo   Park1,964
5711Mannalal   B Agarwal & Family412,600Ajanta   PharmaPharmaceuticals69Mumbai1,889
58-7Glenn   Saldanha & Family312,400Glenmark  Pharma Pharmaceuticals47Mumbai1,859
5926Prakash   Lohia412,100IndoramaChemicals   & Petrochemicals64London1,814
604Sudhir   Mehta312,000Torrent   PharmaPharmaceuticals61Ahmedabad1,799
604Samir   Mehta312,000Torrent   PharmaPharmaceuticals53Ahmedabad1,799
62-20Baba   Kalyani311,900Bharat   ForgeDiversified67Pune1,784
63-24Feroz   Allana511,700IFFCOTrading-Sharjah1,754
6316Mallika   Srinivasan311,700TAFEAutomobiles   & Auto Components57Chennai1,754
658Mangal   Prabhat Lodha511,600Lodha Realty60Mumbai1,739
6624Aloke   Lohia411,500IndoramaChemicals   & Petrochemicals58Bangkok1,724
67-1Vinod   Khosla411,400Khosla   VenturesInvestments61Portola   Valley1,709
6882BR   Shetty411,000NMC Healthcare74Abu   Dhabi1,649
69-43Yusuf   Hamied*310,900CiplaPharmaceuticals80Mumbai1,634
69NewB   Parthasaradhi Reddy410,900Hetero   group of companiesPharmaceuticals62Hyderabad1,634
7148Kiran   Mazumdar-Shaw410,800BioconPharmaceuticals63Bangalore1,619
72-11Radhe   Shyam Agarwal410,700Emami FMCG70Kolkata1,604
72-11Radhe   Shyam Goenka410,700Emami FMCG69Kolkata1,604
7424Rakesh   Jhunjhunwala510,500Rare   EnterprisesInvestments56Mumbai1,574
750Sameer   Gehlaut410,400Indiabulls   Financial ServicesFinancial   Services42Mumbai1,559
75-18NR   Narayana Murthy410,400InfosysSoftware   & Services70Bangalore1,559
77NewDivyank   Turakhia, Bhavin Turakhia 510,318Media.netTechnology34/36Dubai1,547
788Tony  Jashanmal310,200Jashanmal Retailing69Dubai1,529
79-5Ranjan   Pai310,100Manipal   Education & Medical Other   Services43Bangalore1,514
80-4Balkrishan   Goenka510,000Welspun   CorpCapital   Goods50Mumbai1,499
8137Gurbachan   Singh Dhingra39,500Berger   PaintsChemicals   & Petrochemicals66Kolkata1,425
8137Kuldip   Singh Dhingra39,500Berger   PaintsChemicals   & Petrochemicals69Kolkata1,425
83NewMukund   Rungta39,200Rungta   MinesMetals   & Mining58Jharkhand1,380
84-27Ravi   Jaipuria49,100RJ   CorpFMCG61New   Delhi1,365
8560Jithendra   Virwani48,800Embassy   Property Developments Realty50Bangalore1,320
85-29Habil   Khorakiwala58,800WockhardtHealthcare74Mumbai1,320
873Ramesh   Genomal & Family48,600Page   IndustriesTextiles,   Apparels & Accessories63Bangalore1,290
88-7S   Gopalakrishnan48,400InfosysSoftware   & Services61Bangalore1,260
8876Jai   Hari Dalmia & Family38,400Dalmia   BharatConstruction   Materials72New   Delhi1,260
90-12Mofatraj   Munot58,200Kalpataru  Realty72Mumbai1,230
91NewSunil   Kant Munjal38,100Hero   MotocorpAutomobiles   & Auto Components59New   Delhi1,215
91NewPawan   Kant Munjal38,100Hero   MotocorpAutomobiles   & Auto Components62New   Delhi1,215
91NewSuman   Kant Munjal38,100Hero   MotocorpAutomobiles   & Auto Components63New   Delhi1,215
94NewNandlal   Rungta37,800Rungta   MinesMetals   & Mining66Jharkhand1,170
9442Karsanbhai   Patel57,800Nirma FMCG72Ahmedabad1,170
94-12Rajesh   Mehta57,800Rajesh   ExportsJewellery51Bangalore1,170
949Vikas   Oberoi37,800Oberoi   Realty Realty46Mumbai1,170
98-3Nirav   Modi37,700Firestar   DiamondsJewellery45Mumbai1,155
98-37Manoj   Bhargava47,7005   Hour EnergyFMCG63Farmington   Hills 1,155
100-8Rajju   Shroff57,600United   PhosphorusChemicals   & Petrochemicals81Mumbai1,140

* Wealth reduced due to ownership split

 


 

About Hurun Report Inc.  

since 1999

 

Established as a research unit in 1999, Hurun Report Inc. has grown into a leading media group targeted at China and India high net worth individuals. Its flagship is the Hurun China Rich List and, since 2012, the Hurun Global Rich List. Headquartered in Shanghai, Hurun Report has offices in Beijing, Guangzhou, Chengdu, Sanya, London, Los Angeles, Chicago and Cochin, Kerala, India.

 

Hurun Report Inc has four divisions.

Hurun Research (‘Nobody Knows China’s Rich Better’) has grown to become the world’s leading authority when it comes to understanding the Chinese high net worth individual. Recent reports include partnering with some of China’s most important financial institutions, local government, multinationals and luxury brands, including Bank of China, Taikang Life, Minsheng Bank, Minsheng Financial Leasing, Industrial Bank of China and the Changbaishan government.

 

Hurun Media (‘The Voice of Chinese Entrepreneurship’) reaches between one and two million unique viewers a week through its digital platform and a further 485,000 a month through its print media. Digital media is made up of 7 Wechat social media, an online business talk show called MaShangHu, distributed through iQiyi, CBN and Ningxia Satellite, and Hurun.net. Our flagship Wechat media is Hurun Business, with others including Hurun Education, Hurun Art, Hurun Horse & Sports, Hurun Health, Hurun Property and Hurun English.

 

Hurun Conferences and Training hosts over 100 events across China every year, led by its flagships in Beijing and Shanghai every year.  Hurun Conferences and Training brings Chinese entrepreneurs aboard, to the US, London, Singapore, Australia and India.

 

Hurun Investments includes a CNY 100m early-stage venture capital fund, and strategic investments in media, education, classic cars, financial services and luxury.

 

 

For further information, see www.hurun.net

 


 

 

HURUN REPORT INDIA

Hurun Report Inc established its India business in 2012, which today is best-known for the Hurun India Rich List, Hurun India Philanthropy List and for hosting events with some of India’s most respected entrepreneurs.

 

The Hurun India Rich List has grown to become the authority in identifying India’s most successful entrepreneurs. The Hurun Philanthropy List is the only publication that captures the reported philanthropic/ CSR donation of more than INR 10 Cr.

 

Hurun Report India's mission is to foster and promote India entrepreneurship and build a business bridge between India and China entrepreneurs. Hurun Report is committed to celebrating entrepreneurship and playing a pivotal role in connecting 2.7 billion people from India and China.

 

In September 2016, Hurun Report is facilitating a conference in Shanghai and Beijing where India's union ministers, select state chief ministers are meeting with Indian and Chinese entrepreneurs from the Hurun India Rich List and Hurun China Rich List.

 

For the full details, please refer to on www.hurun.net.

For media enquiries, please contact

 

Akshita Madan

Associate

Mobile: +91 9847587766

Email: india@hurun.net

 



 

About Joyalukkas Group

Joyalukkas Jewelers is part of the Joyalukkas Group, a multi-billion-dollar conglomerate with presence across the India, GCC, UK, USA, Malaysia, & Singapore. Its interests include fashion retail, money exchange, real estate, malls and luxury air charters.

Note from Joy Alukkas, CMD JoyAlukkas Group

“The Hurun India Rich List celebrates the world’s most successful Indian entrepreneurs and a great guide to how each of them have made their mark in business. There are many stories of Indian businessmen in the list that can be a wonderful inspiration for all. As an entrepreneur myself, I believe, behind every success story there is a series of ups and downs towards achieving the phenomenal glory. I myself started with a single jewellery showroom , yet today brand 'Joyalukkas' is recognised around the world for more than just jewellery, we are now a global conglomerate and have ventured into Fashion & Silks, Malls, Money Exchange, Luxury Air Charter & Realty. A big congratulations to all the Indian entrepreneurs who made it to the Hurun's India Rich List and big thank you to Hurun for this wonderful initiative to celebrate our accomplishments.