DMart’s Noronha wealthiest CEO in India
Who is India’s richest non-promoter professional in the business? ‘Navil Noronha’ -He is neither aninnovative tech whizkid nor a new-aged banker in the industry. And neither heis an alumnus of the biggest colleges of India like IIT or IIM. Instead, Noronha is in a line of business market that is a traditional Indian necessity as it gets grocerieslargely.
With more than a number of Rs 3,100 crore of total net worth, stupendousNavil Noronha, the CEO of famous Avenue Supermarts that runs DMart stores, has emerged as the list of richest professional in the country. Radhakishan Damani his boss, the solitary founder of Avenue Supermarts, is also India’s second-richest person, with a net worth of around $17.8 billion last year and he is next only to Mukesh Ambani. RamakantBaheti the CFO of giant DMart NSE 0.26 % with its shares worth Rs. 666 crore, is now the third-richestIndian on the list of top professionals. Although, the net-worth statistics are purely based on the stock market and they own in the companies as they lead,but these calculations don’t include salary and other compensation elements.
What is DMart?
DMart, one of India’s largest supermarket chains around the world, is all set to enter the national capital. Moreover,it is a move that will help billionaire founder Mr. Radhakishan Damanito widen the brand’s footprint outside the western and southern Indian markets, according to a new report in the Economic Times on Tuesday.
The Mumbai-based parent of Avenue Supermarts Ltd has taken around 50,000 sq ft of space in east Delhi’s heartKarkadrooma area for its first and new outlet in the national capital, the report by various news said. They are citing a person familiar with the development of glossaries in the city. Apart from that, they are scouting for space for 4-5 new stores in Delhi NCR in coming future.
Neville Noronha, the CEO and managing director of Avenue Supermarts declined to comment about Dmart recently.
Avenue Supermarts operate about 200 supermarket stores primarily in all over the Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Rajasthan, and Chhattisgarh. In the north, DMart operates its stores from Ghaziabad to Uttar Pradesh, and Punjab.