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DMart’s Noronha wealthiest CEO in India

Instead, he is in a line of business that’s as traditional as it gets – groceries, largely.

, ET Bureau|
Last Updated: Feb 18, 2020, 08.35 AM IST
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DMART
With more than Rs 3,100 crore of net worth, Ignatius Navil Noronha, CEO of Avenue Supermarts that runs D-Mart stores, has emerged as the richest professional in the country.
Who is India’s richest non-promoter professional? He is neither a tech whizkid, nor a new-age banker. And neither is he an alumnus of the mighty IIT+IIM combo. Instead, he is in a line of business that’s as traditional as it gets – groceries, largely.

With more than Rs 3,100 crore of net worth, Ignatius Navil Noronha, CEO of Avenue Supermarts that runs D-Mart stores, has emerged as the richest professional in the country. His boss Radhakishan Damani, the reclusive founder of Avenue Supermarts, is now India’s secondrichest person, with a net worth of $17.8 billion, next only to Mukesh Ambani. Ramakant Baheti, CFO of DMart with shares worth Rs 666 crore, is now India’s third-richest on the list of top professionals. Of course, the net-worth stats are purely based on the stock they own in the companies they lead, and these calculations don’t include salary and other compensation elements.
Bloomberg
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