Gautam Adani India Inc's biggest wealth creator in FY11
Azim Premji, Rahul Bajaj, Sunil Mittal and Dilip Shanghvi added to their kitty; DLF's KP Singh, OP Jindal family and Kishore Biyani ended the year poorer.
By ET Bureau | Updated:
What's common between Gautam Adani and Anil Ambani? Or Vikas Oberoi and Rama Prasad Goenka? Not much actually. The chairman of the Adani Group was the biggest wealth creator at the end of fiscal year 2011, doubling his wealth to Rs 33,211 crore by virtue of the Adanis' stakes in three listed companies.
Anil Ambani finds himself on top of the list of promoters who lost the most wealth in the April 2010-March 2011 period, the chairman of Anil Dhirubhai Ambani Group was poorer by Rs 10,841 crore.
Top 20 wealth creators of India Inc
The new billionaires of India Inc
India Inc: List of those who lost billionaire status
Top 20 wealth destroyers of India Inc
As for Oberoi and Goenka, the contrast is even starker: The former listed his property company, Oberoi Realty, only last October on the Indian stock exchanges. By the end of the fiscal year, Oberoi emerged among the select few realtors who were actually creating wealth, and a billionaire to boot.
The patriarch of RPG Enterprises had no such luck. Goenka, who embarked on inorganic growth way back in the 1980s when takeovers were not considered kosher, finds himself out of the billionaire club. The promoter's wealth reduced by a little under Rs 800 crore.
Property pashas were conspicuous wealth destroyers last fiscal year. Among them: KP Singh (poorer by Rs 5,561 crore); Saurabh Tayal of Jaybharat Textiles (Rs 6,737 crore); Shahid Balwa and Vinod Goenka of DB Realty (Rs 5,295 crore), the Chandras of Unitech (Rs 2,737 crore) and the Wadhawans of Housing Development Infrastructure (Rs 2,157 crore).
A number of pedigreed names find themselves on the list of wealth creators. Azim Premji, who ended the fiscal year richer by Rs 10,601 crore, is at No. 2, and following him are Rahul Bajaj (richer by Rs 8,786 crore), Sunil Mittal (Rs 7,923 crore) and Dilip Shanghvi of Sun Pharma (Rs 5,156 crore).
There are, however, the inevitable surprises: The OP Jindal Group, run by brothers Prithviraj, Sajjan, Ratan and Naveen, is poorer by some Rs 7,600 crore. The Munjals of the Hero Group (Rs 2,892 crore) and Kishore Biyani of Future Group (Rs 1,074 crore) are the others on the wealth destroyers' list. The most visible name on that list, though, is Mukesh Ambani, he's still India's richest individual by far with a market value of Rs 1,53,417 crore. But he was poorer by Rs 4,656 crore at the end of fiscal year 2011 than a year ago.
Anil Ambani finds himself on top of the list of promoters who lost the most wealth in the April 2010-March 2011 period, the chairman of Anil Dhirubhai Ambani Group was poorer by Rs 10,841 crore.
Top 20 wealth creators of India Inc
The new billionaires of India Inc
India Inc: List of those who lost billionaire status
Top 20 wealth destroyers of India Inc
ADVERTISEMENT
As for Oberoi and Goenka, the contrast is even starker: The former listed his property company, Oberoi Realty, only last October on the Indian stock exchanges. By the end of the fiscal year, Oberoi emerged among the select few realtors who were actually creating wealth, and a billionaire to boot.
The patriarch of RPG Enterprises had no such luck. Goenka, who embarked on inorganic growth way back in the 1980s when takeovers were not considered kosher, finds himself out of the billionaire club. The promoter's wealth reduced by a little under Rs 800 crore.
Property pashas were conspicuous wealth destroyers last fiscal year. Among them: KP Singh (poorer by Rs 5,561 crore); Saurabh Tayal of Jaybharat Textiles (Rs 6,737 crore); Shahid Balwa and Vinod Goenka of DB Realty (Rs 5,295 crore), the Chandras of Unitech (Rs 2,737 crore) and the Wadhawans of Housing Development Infrastructure (Rs 2,157 crore).
A number of pedigreed names find themselves on the list of wealth creators. Azim Premji, who ended the fiscal year richer by Rs 10,601 crore, is at No. 2, and following him are Rahul Bajaj (richer by Rs 8,786 crore), Sunil Mittal (Rs 7,923 crore) and Dilip Shanghvi of Sun Pharma (Rs 5,156 crore).
ADVERTISEMENT
There are, however, the inevitable surprises: The OP Jindal Group, run by brothers Prithviraj, Sajjan, Ratan and Naveen, is poorer by some Rs 7,600 crore. The Munjals of the Hero Group (Rs 2,892 crore) and Kishore Biyani of Future Group (Rs 1,074 crore) are the others on the wealth destroyers' list. The most visible name on that list, though, is Mukesh Ambani, he's still India's richest individual by far with a market value of Rs 1,53,417 crore. But he was poorer by Rs 4,656 crore at the end of fiscal year 2011 than a year ago.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
Related Articles
Gautam Adani launches initiative 'Vande Bharatam' to discover entrepreneurs across IndiaADVERTISEMENT
