87
SALIL SINGHAL
$1.85 BILLION
PI INDUSTRIES AGE: 71
88
ANAND MAHINDRA
$1.81 BILLION S
MAHINDRA & MAHINDRA
AGE: 63
89
VIKAS OBEROI
$1.8 BILLION
OBEROI REALTY AGE: 48
90
ARVIND PODDAR
$1.79 BILLION S
BALKRISHNA INDUSTRIES
AGE: 60
91
KRISHNA KUMAR BANGUR$1.7 BILLION (^) Ì
GRAPHITE INDIA AGE: 58
92
MURLI DHAR & BIMAL
GYANCHANDANI
$1.69 BILLION T
RSPL AGE: 70, 58
93
REDDY FAMILY
$1.61 BILLION
DR. REDDY’S LABORATORIES
94
DEVENDRA JAIN
$1.6 BILLION 3
GUJARAT FLUOROCHEMICALS
AGE: 89
95
TARANG JAIN
$1.59 BILLION (^) Ì
VARROC ENGINEERING
AGE: 56
96
SRIDHAR VEMBU
$1.56 BILLION (^) Ì
ZOHO AGE: 50
97
BHAVIN & DIVYANK TURAKHIA
$1.55 BILLION 3
DIRECTI AGE: 38, 36
98
SHAMSHEER VAYALIL
$1.54 BILLION
VPS HEALTHCARE
AGE: 41
99
RAVI JHUNJHUNWALA
$1.5 BILLION Ì
HEG AGE: 62
100
BHADRESH SHAH
$1.48 BILLION 3
AIA ENGINEERING AGE: 66
THE LIST
SUP MORE THAN 10% TDOWN MORE THAN 10%
ÌNEW TO LIST 3 RETURNEE
OCTOBER 2018 FORBES ASIA | 83
through a network of more than 300 stores. In 1974, Dua,
a trained rubber technologist, joined the modest family
footwear and cycle parts business run by his father and
older brother. Two years later they launched the Relaxo
brand, before adding brands such as Sparx, Bahamas and
Flite. Bollywood actors Salman Khan and Akshay Kumar
serve as brand ambassadors.
SANDEEP ENGINEER: 57
$1.04 billion
ASTRAL POLY TECHNIK
The chemical engineer started out working in pharma, then
launched a business making pharma ingredients in 1987. A
decade later he latched on to making plastic pipes, but sales
were slow until he decided to target plumbers, touting the
advantages of plastic pipes over metal. Sales got a huge
boost when actor Salman Khan became Astral’s brand
ambassador in 2014. Today the $292 million (revenue)
Astral also makes a range of adhesives and sealants. Astral
has 11 factories, including 3 in the U.S., the U.K. and Kenya.
SATYANARAYAN NUWAL: 66
$1.01 billion
SOLAR INDUSTRIES INDIA
Son of a government worker, Nuwal set up his first
business, to make inks, at age 18; that business went
bust, as did several others. Nuwal began trading
explosives and went on to set up a factory in 1996
in western India. He chose to call his company Solar
Explosives, (which he later renamed Solar Industries)
because, he says, “With a name like that, it was
destined to shine.” It counts state-owned coal miners
as well as infrastructure and construction companies
among its clients. In the year ended March 2018, the
company had $34 million in profit on revenue of $255
million. His younger brother Kailashchandra is vice
chairman.
INDER JAISINGHANI: 65
$1 billion
POLYCAB WIRES
Jaisinghani, who dropped out of school after his father’s
sudden death, started a trading business in wires
and cables in 1968 at age 15. Today his $948 million
(revenue) Polycab Group is one of India’s leading makers
of electrical wires and cables used in a range of sectors
from oil refining to cement. In 2008 the International
Finance Corp., the private equity arm of the World Bank,
picked up a minority stake in his privately held company.
In recent years Polycab has expanded into making
electric switches, lights and fans. Jaisinghani may list the
company this year.
Sheela Gautam sleeps
well at night.
Sandeep Engineer:
His family name is
his career fate.
Inder Jaisinghani:
Wires made him rich.
Satyanarayan
Nuwal:
explosive
growth.
GAUTAM: PANKAJ SHARMA/FOTOCORP; JAISINGHANI: THE HINDU IMAGES; NUWAL: THE TIMES OF INDIA GROUP