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Nykaa’s Falguni Nayar overtakes Kiran Mazumdar Shaw as richest self-made Indian woman

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  • Falguni Nayari is the richest self-made billionaire with a net worth of ₹57,520 crore.
  • However, Roshni Nadar Malhotra of HCL Technologies is the richest woman, according to the Kotak Private Banking Hurun list.
  • About 25 new women have joined the list this year, the report says.

It’s beauty over biotech when Falguni Nayar overtook Biocon’s Kiran Mazumdar-Shaw as India’s richest self-made woman with wealth of ₹57,520 crore, according to Kotak Private Banking Hurun’s list of India’s richest women.

Nayar’s ranking moved up nine places after the company she founded, Nykaa, went public last year.

However, HCL Technologies’ Roshni Nadar Malhotra retained her title as the richest woman on the list at ₹84,330 crore, for the second year in a row.

About 25 new women have joined the list this year, the report says. The report further highlights that the cut off assets needed to be on the list have nearly tripled to ₹300 crore since last year.

The women on the 2021 list have an average net worth of about 4,170 crore compared to ₹2,725 crore in the past year.

“Over the years, Indian women slowly but surely come into their own – creating a space for themselves through knowledge, excellence, passion and empathy,” said Oisharya DasCEO – private banking, Kotak Mahindra Bank.

The list is based on women’s net worth as of December 31, 2021.

More younger women are becoming self-made billionaires

Even though Biocon founder Shaw was displaced, her pharmaceuticals sector also saw the most new entrants, followed by healthcare and consumer goods.

According to the report, 9 out of 20 women under the age of 40 or younger are self-made.

Three professional managers also made the list. PepsiCos Indra Nooyic is the richest professional manager, with net worth of ₹ 5,040 crore. And 33-year-old Kanika Tekriwal from Jetsetgo is the youngest self-made woman.

“Women-led wealth creation directly improves women’s employment, their corresponding families and society. Including women, who represent 50% of India’s population in the workforce or wealth creation, breaks down societal barriers,” he said. Anas Rahman JunaidMD and principal investigator at Hurun India.

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