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142, 14th Floor, Maker Chambers VI, Nariman Point, Mumbai - 400021

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SEBI Office: Plot No. C4-A, 'G' Block, Bandra-Kurla Complex, Bandra(East), Mumbai - 400051

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SEBI Office: 7th Floor, 756-L, Anna Salai, Chennai - 600002

Unit No. 701, A Wing, 7th floor, Sunteck Kanaka Corporate Park, Patto, Panjim, Goa - 403001

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India's Top 100 Billionaires - A Fortune India - Waterfield Advisors Ranking

article • Investment Management
Fortune India & Waterfield Advisors
19 August 2025 | 5 minutes

The verdict is in. India's wealthiest have weathered a perfect storm of market volatility, currency fluctuations, and global uncertainty, and they're still standing strong. Unlike the previous editions of our rich list, this year's exclusive ranking of India's Richest is restricted to the top 100 billionaires who represent the apex of Indian entrepreneurship and business acumen.

This year, the total number of billionaires dropped from last year’s 185 to 182 individuals who met the ₹8,576 crore threshold. Nonetheless, the competition for the coveted top 100 spots intensified and the entry threshold climbed to ₹24,283 crore, a significant jump from last year's ₹22,739 crore entry point, signaling that even among the ultra-elite, the bar continues rising.

Market realities shaped this year's landscape in unprecedented ways. For the first time in three years, the collective worth of India's top 100 dropped $28 billion. The culprits were clear: a rupee that weakened from 83.96 to 85.76 against the dollar, combined with a Nifty that managed barely 1% growth. In this challenging environment, wealth creation became highly selective, with only 46 billionaires expanding their fortunes, a stark contrast to the 88 who succeeded in 2024.

Notwithstanding the market turmoil, India's ultra-wealthy maintain their trillion-dollar club status at $1.015 trillion. The triumvirate that has dominated India's wealth rankings — Mukesh Ambani, Gautam Adani, and the Mistry family — maintains its grip this year on the top three positions. Sunil Mittal emerged as this year's standout performer, and Kumar Mangalam Birla orchestrated his entry into the exclusive top 10 club.

This list is a mirror reflecting India's economic evolution. As we maintain our position as the world's fastest-growing major economy, these business titans proved that sustainable wealth creation means building ships that can navigate any storm, even when the going gets tough.

Rank Name Value (Rs Crore) Change Value ($BN) Change ($BN) FLAGSHIP COMPANIES/ HOLDINGS SECTOR
2025 2024 Change (count) 2025 2024 ₹ Crore % 2025 2024 $ Billion %
1 1 0 Mukesh Ambani 949,688 1,050,715 -101,027 -9.62 110.74 125.15 -14.41 -11.52 Reliance Industries, Jio
Financial Services
Diversified
2 2 0 Gautam Adani 911,058 1,040,212 -129,154 -12.42 106.23 123.90 -17.67 -14.26 Adani Enterprises, Adani
Ports & Special Economic
Zone, Adani Power, Adani
Green Energy, Ambuja
Cements, Adani Energy
Solutions, Adani Total Gas,
AWL Agri Business, ACC,
NDTV
Diversified
3 3 0 Shapoor Mistry, Firoz
Mistry, Zahan Mistry
& family
322,341 364,932 -42,591 -11.67 37.59 43.47 -5.88 -13.53 Tata Sons, Afcons
Infrastructure , Sterling &
Wilson Renewable Energy
Diversified
4 8 4 Sunil Mittal & family 315,310 231,176 84,134 36.39 36.77 27.54 9.23 33.52 Bharti Airtel, Bharti
Hexacom, Indus Towers
Telecom
5 4 -1 Savitri Devi Jindal 288,304 277,588 10,716 3.86 33.62 33.06 0.55 1.68 JSW Steel, Jindal Steel &
Power, JSW Energy, JSW
Infra, Jindal Stainless,
JSW Holdings, Jindal Saw,
JSW Paints, JSW Projects,
JSW Cement, JSW Techno
Projects, Nalwa Sons
Investments, Hexa Tradex
Diversified
6 5 -1 Shiv Nadar* 285,497 275,800 9,697 3.52 33.29 32.85 0.44 1.34 HCL Technologies, HCL
Infosystems
IT
7 6 -1 Radhakishan Damani 227,543 254,479 -26,936 -10.58 26.53 30.31 -3.78 -12.47 Avenue Supermarts, Bright
Star Investments, NSE
Retail
8 7 -1 Dilip Shanghvi & family 218,963 232,033 -13,069 -5.63 25.53 27.64 -2.11 -7.62 Sun Pharmaceutical
Industries, Sun Pharma
Advanced Research
Company, Suzlon Energy
Pharmaceuticals,
Energy
9 13 4 Kumar Mangalam Birla 209,166 165,068 44,097 26.71 24.39 19.66 4.73 24.05 Grasim Industries,
Hindalco Industries, Essel
Mining & Industries, Aditya
Birla Fashion & Retail,
UltraTech Cement, Aditya
Birla Capital, Birla Carbon
India, Aditya Birla Real
Estate, Century Enka
Diversified
10 12 2 Shekhar Bajaj, Niraj
Bajaj, Rajiv Bajaj &
Sanjiv Bajaj
206,886 171,720 35,166 20.48 24.12 20.45 3.67 17.94 Bajaj Finserv, Bajaj Holdings
& Investment, Bajaj Auto,
Bajaj Electricals, Mukand
Diversified
11 9 -2 Azim Premji 184,733 202,969 -18,236 -8.98 21.54 24.18 -2.64 -10.90 Wipro, Wipro Enterprises IT
12 11 -1 Cyrus Poonawalla 157,849 171,990 -14,140 -8.22 18.41 20.49 -2.08 -10.15 Serum Institute of India,
Poonawalla Fincorp
Pharmaceuticals,
Finance
13 14 1 Kushal Pal Singh 153,571 159,053 -5,482 -3.45 17.91 18.94 -1.04 -5.48 DLF Realty
14 15 1 Sudhir Mehta & Samir
Mehta
133,198 141,694 -8,495 -6.00 15.53 16.88 -1.35 -7.97 Torrent Pharmaceuticals,
Torrent Power, Torrent Gas
Pharmaceuticals,
Energy
15 NAP NEW Jamshyd Godrej &
Smita Godrej Crishna**
125,411 NAP NAP NAP 14.62 NAP NAP NAP Godrej & Boyce
Manufacturing Company
Consumer
Durables
16 25 9 Satyanarayan Nuwal &
Kailashchandra Nuwal
115,765 69,420 46,345 66.76 13.50 8.27 5.23 63.25 Solar Industries India Chemicals
(Industrial
Explosives)
17 19 2 Uday Kotak 111,377 91,665 19,712 21.50 12.99 10.92 2.07 18.95 Kotak Mahindra Bank BFSI
18 17 -1 Madhukar Parekh &
family
108,236 108,666 -430 -0.40 12.62 12.94 -0.32 -2.49 Pidilite Industries, Vinyl
Chemicals (India)
Chemicals
19 16 -3 Ravi Kant Jaipuria 105,730 129,456 -23,726 -18.33 12.33 15.42 -3.09 -20.05 Varun Beverages, Devyani
International
FMCG
20 18 -2 Mangal Prabhat Lodha 99,479 96,556 2,923 3.03 11.60 11.50 0.10 0.86 Lodha Developers (Formerly
Macrotech Developers)
Realty
21 29 8 Murali K. Divi 93,811 63,868 29,943 46.88 10.94 7.61 3.33 43.79 Divi’s Laboratories Pharmaceuticals
22 31 9 Rahul Bhatia 82,538 62,392 20,146 32.29 9.62 7.43 2.19 29.51 InterGlobe Aviation Aviation
23 21 -2 M.M. Murugappan &
family
78,160 84,318 -6,158 -7.30 9.11 10.04 -0.93 -9.25 Tube Investments of India,
Cholamandalam Investment
& Finance Company,
Carborundum Universal,
EID Parry (India), Parry Agro
Industries
Diversified
24 81 57 Manohar Lal &
Madhusudan Lal
77,982 28,819 49,162 170.59 9.09 3.43 5.66 164.89 Haldiram Snacks FMCG
25 36 11 George Jacob Muthoot
& family
77,314 53,981 23,333 43.22 9.02 6.43 2.59 40.21 Muthoot Finance BFSI
26 20 -6 Pankaj Patel 76,190 91,181 -14,991 -16.44 8.88 10.86 -1.98 -18.20 Zydus Lifesciences, Zydus
Wellness
Pharmaceuticals
27 28 1 Vikram Lal 76,123 64,848 11,275 17.39 8.88 7.72 1.15 14.92 Eicher Motors Automobile
28 22 -6 Hasmukh Chudgar &
family
71,050 75,115 -4,065 -5.41 8.28 8.95 -0.66 -7.40 Intas Pharmaceuticals Pharmaceuticals
29 35 6 Benu Gopal Bangur 70,040 55,650 14,391 25.86 8.17 6.63 1.54 23.21 Shree Cement Cement
30 NAP NEW Adi Godrej & Nadir
Godrej**
68,781 NAP NAP NAP 8.02 NAP NAP NAP Godrej Consumer Products,
Godrej Industries, Godrej
Properties, Godrej Agrovet
Diversified
31 33 2 Girdharilal Bawri,
Banwarilal Bawri &
Rajendra Agarwal
63,671 61,600 2,072 3.36 7.42 7.34 0.09 1.19 Macleods Pharmaceuticals Pharmaceuticals
32 23 -9 Mohit Burman & Burman
family
62,773 74,003 -11,230 -15.18 7.32 8.81 -1.49 -16.96 Dabur India, Religare
Enterprises, Eveready
Industries India, Talbros
Automotive Components,
Eldeco Housing & Industries
Diversified
33 27 -6 Inder T. Jaisinghani 62,133 65,997 -3,864 -5.86 7.24 7.86 -0.62 -7.84 Polycab India Consumer
Electricals
34 41 7 Sanjiv Goenka 61,027 50,704 10,323 20.36 7.12 6.04 1.08 17.83 CESC, Firstsource Solutions,
Saregama India, PCBL
Chemical, Spencer’s Retail
Diversified
35 42 7 Vivek Jain 59,051 48,100 10,951 22.77 6.89 5.73 1.16 20.18 Gujarat Fluorochemicals,
Inox Wind Energy, Inox Wind
Diversified
36 NAP NEW Hitesh Chimanlal Doshi 57,979 NAP NAP NAP 6.76 NAP NAP NAP Waaree Energies Capital Goods
(Renewables)
37 24 -13 Anil Rai Gupta 57,838 69,891 -12,053 -17.25 6.74 8.32 -1.58 -18.99 Havells India Consumer
Electricals
38 51 13 Vijay Chauhan 57,398 43,789 13,609 31.08 6.69 5.22 1.48 28.32 Parle Biscuits FMCG
39 26 -13 Vivek Chaand Sehgal 56,464 68,167 -11,703 -17.17 6.58 8.12 -1.54 -18.91 Samvardhana Motherson
International, Motherson
Sumi Wiring
Auto Ancillaries
40 40 0 Harsh Mariwala & family 55,270 50,730 4,540 8.95 6.44 6.04 0.40 6.66 Marico FMCG
41 37 -4 Nusli Wadia 54,405 53,649 756 1.41 6.34 6.39 -0.05 -0.72 Britannia Industries,
Bombay Burmah Trading
Corporation, Bombay
Dyeing & Manufacturing
Company, National Peroxide
Diversified
42 57 15 Nithin Kamath & Nikhil
Kamath
52,178 41,520 10,659 25.67 6.08 4.95 1.14 23.03 Zerodha Broking Digital Platforms
43 46 3 Venu Srinivasan 51,902 46,248 5,654 12.23 6.05 5.51 0.54 9.86 TVS Motor Company Automobile
44 43 -1 Kuldip Singh Dhingra
& Gurbachan Singh
Dhingra
51,851 48,061 3,790 7.89 6.05 5.72 0.32 5.62 Berger Paints India FMCG
45 34 -11 Rekha Rakesh
Jhunjhunwala & family
51,443 58,471 -7,028 -12.02 6.00 6.96 -0.97 -13.87 Titan Company, Star
Health & Allied Insurance
Co, Tata Motors, Escorts
Kubota, Fortis Healthcare,
Metro Brands, Inventurus
Knowledge Solutions
Investing
46 39 -7 Ramesh Juneja & Rajeev
Juneja
50,178 50,770 -592 -1.17 5.85 6.05 -0.20 -3.25 Mankind Pharma Pharmaceuticals
47 30 -17 Late Ashwin Suryakant
Dani & family
49,592 62,431 -12,839 -20.57 5.78 7.44 -1.65 -22.24 Asian Paints, Sattva Holding
& Trading
FMCG
48 38 -10 P.P. Reddy & P.V. Krishna
Reddy
47,508 52,987 -5,479 -10.34 5.54 6.31 -0.77 -12.23 Megha Engineering &
Infrastructures
Construction
49 53 4 Vikas Oberoi 46,960 43,490 3,470 7.98 5.48 5.18 0.30 5.71 Oberoi Realty Realty
50 124 74 A. Krishnamoorthy 45,520 16,227 29,292 180.51 5.31 1.93 3.37 174.61 Simpson & Company,
Amalgamations Valeo
Clutch, United Nilgiri Tea
Estates Company, IP Rings,
Bimetal Bearings
Diversified
51 92 41 Balasubramanian
Prabhakaran
44,700 25,594 19,106 74.65 5.21 3.05 2.16 70.98 Thriveni Earthmovers Capital Goods
(Heavy
Engineering
Equipment)
52 63 11 Nirmal K. Minda 43,603 36,530 7,073 19.36 5.08 4.35 0.73 16.85 UNO Minda Auto Ancillaries
53 44 -9 Irfan Razack, Rezwan
Razack & Noaman
Razack
43,532 47,690 -4,158 -8.72 5.08 5.68 -0.60 -10.64 Prestige Estates Projects Realty
54 56 2 Leena Tewari 43,095 42,086 1,009 2.40 5.03 5.01 0.01 0.24 USV Pharmaceuticals
55 72 17 Abhay Firodia 42,695 31,603 11,092 35.10 4.98 3.76 1.21 32.26 Force Motors, Bajaj Finserv,
Bajaj Auto, Bajaj Holdings &
Investment
Automobile
56 64 8 Santhanam Viji 42,062 35,994 6,069 16.86 4.90 4.29 0.62 14.40 Brakes India, Sundaram
Finance, Sundaram Finance
Holdings, Wheels India
Auto Ancillaries,
BFSI
57 50 -7 Manju Deshbandhu
Gupta family
41,552 44,670 -3,118 -6.98 4.85 5.32 -0.48 -8.94 Lupin Pharmaceuticals
58 48 -10 Pawan Munjal 40,174 45,190 -5,016 -11.10 4.68 5.38 -0.70 -12.97 Hero MotoCorp, Hero
FinCorp, Munjal Auto
Industries, Munjal Showa
Automobile
59 55 -4 Dilip Surana &
Anand Surana
38,204 42,404 -4,199 -9.90 4.45 5.05 -0.60 -11.80 Micro Labs Pharmaceuticals
60 74 14 Lachhman Das Mittal 38,071 31,406 6,666 21.22 4.44 3.74 0.70 18.67 International Tractors Automobile
61 84 23 Arun Bharat Ram 36,269 27,869 8,400 30.14 4.23 3.32 0.91 27.40 SRF Chemicals
(Specialty
Chemicals)
62 45 -17 Mahendra Chimanlal
Choksi
36,000 46,864 -10,864 -23.18 4.20 5.58 -1.38 -24.80 Asian Paints FMCG
63 NAP NEW B. Partha Saradhi Reddy
& family
35,740 NAP NAP NAP 4.17 NAP NAP NAP Hetero Labs Pharmaceuticals
64 54 -10 Yusuf Hamied & family 35,478 42,611 -7,133 -16.74 4.14 5.08 -0.94 -18.49 Cipla Pharmaceuticals
65 78 13 Sunil Vachani 35,147 29,943 5,204 17.38 4.10 3.57 0.53 14.91 Dixon Technologies (India) Consumer (B2B)
66 61 -5 Baba Kalyani 35,093 37,556 -2,463 -6.56 4.09 4.47 -0.38 -8.52 Bharat Forge, Hikal,
Automotive Axles, BF
Utilities, Kalyani Steels
Diversified
67 49 -18 Nehal, Bhairavi, Vivek
-Abhay Vakil family
34,496 44,906 -10,410 -23.18 4.02 5.35 -1.33 -24.80 Asian Paints FMCG
68 59 -9 Rajan Raheja 33,526 40,046 -6,520 -16.28 3.91 4.77 -0.86 -18.04 Exide Industries, Prism
Johnson, Supreme
Petrochem, Sonata
Software, Asianet Satellite
Communications
Diversified
69 66 -3 Acharya Balkrishna 33,473 35,346 -1,874 -5.30 3.90 4.21 -0.31 -7.29 Patanjali Foods, Patanjali
Ayurved
FMCG
70 60 -10 Basudeo Narain Singh
& family
32,856 38,520 -5,664 -14.70 3.83 4.59 -0.76 -16.50 Alkem Laboratories Pharmaceuticals
71 90 19 Harsh Goenka 32,295 26,299 5,995 22.80 3.77 3.13 0.63 20.21 KEC International,
Zensar Technologies,
CEAT, RPG Life Sciences,
Raychem-RPG
Diversified
72 80 8 Shyam Bhartia &
Hari Bhartia
31,618 29,509 2,109 7.15 3.69 3.51 0.17 4.89 Jubilant FoodWorks, Jubilant
Ingrevia, Jubilant Pharmova
Diversified
73 96 23 Falguni Nayar & family 31,084 24,486 6,598 26.95 3.62 2.92 0.71 24.27 FSN E-Commerce Ventures
(Nykaa)
Digital Platforms
74 NAP NEW Surender Saluja 30,726 NAP NAP NAP 3.58 NAP NAP NAP Premier Energies Capital Goods
75 32 -43 Karsanbhai Patel 30,632 61,901 -31,268 -50.51 3.57 7.37 -3.80 -51.55 Nirma, Alivus Life Sciences,
Nuvoco Vistas Corporation
Diversified
76 76 0 Sanjeev Bikhchandani 30,540 30,571 -31 -0.10 3.56 3.64 -0.08 -2.20 Info Edge (India) Digital Platforms
77 97 20 Prathap C. Reddy 30,380 23,675 6,705 28.32 3.54 2.82 0.72 25.62 Apollo Hospitals Enterprise Healthcare
78 93 15 Kiran Mazumdar-Shaw 29,850 25,357 4,493 17.72 3.48 3.02 0.46 15.24 Biocon Pharmaceuticals
79 110 31 Abhay Soi 29,430 20,421 9,009 44.12 3.43 2.43 1.00 41.09 Max Healthcare Institute Healthcare
80 89 9 Anurang Jain 29,244 26,444 2,800 10.59 3.41 3.15 0.26 8.26 Endurance Technologies Auto Ancillaries
81 65 -16 T.S. Kalyanaraman 29,076 35,723 -6,648 -18.61 3.39 4.26 -0.86 -20.32 Kalyan Jewellers India Gems & Jewellery
82 75 -7 Salil Singhal 28,688 31,025 -2,338 -7.53 3.35 3.70 -0.35 -9.48 PI Industries Chemicals (Agro)
83 77 -6 G.V. Prasad & Satish
Reddy families
28,530 30,195 -1,665 -5.51 3.33 3.60 -0.27 -7.50 Dr Reddy’s Laboratories Pharmaceuticals
84 100 16 Anand Deshpande 28,371 22,739 5,632 24.77 3.31 2.71 0.60 22.14 Persistent Systems IT
85 130 45 Devi Prasad Shetty 28,329 15,438 12,892 83.51 3.30 1.84 1.46 79.65 Narayana Hrudayalaya Healthcare
86 62 -24 P.V. Ramprasad Reddy 28,301 36,973 -8,673 -23.46 3.30 4.40 -1.10 -25.07 Aurobindo Pharma Pharmaceuticals
87 71 -16 Arvind Poddar 27,564 31,884 -4,320 -13.55 3.21 3.80 -0.58 -15.37 Balkrishna Industries Auto Ancillaries
88 103 15 K. P. Ramasamy 27,561 21,598 5,963 27.61 3.21 2.57 0.64 24.92 KPR Mill Textiles
89 68 -21 Bajranglal Taparia 27,447 32,808 -5,361 -16.34 3.20 3.91 -0.71 -18.10 Supreme Industries,
Supreme Petrochem
Plastics
90 73 -17 N. R. Narayana Murthy 26,742 31,421 -4,679 -14.89 3.12 3.74 -0.62 -16.68 Infosys IT
91 69 -22 G.M. Rao 26,580 32,575 -5,994 -18.40 3.10 3.88 -0.78 -20.12 GMR Airports, GMR
Kamalanga Energy, GMR
Energy, Delhi Duty Free
Services, GMR Power &
Urban Infra
Airports, Power
92 82 -10 Atul Ruia 26,407 28,490 -2,084 -7.31 3.08 3.39 -0.31 -9.26 Phoenix Mills Realty
93 91 -2 Balkrishan Goenka 25,989 25,942 47 0.18 3.03 3.09 -0.06 -1.93 Welspun Living, Welspun
Corp, Welspun Enterprises,
Welspun Specialty
Solutions, Welspun
Investments & Commercials
Diversified
94 NAP NEW Ranjan Pai & family 25,899 NAP NAP NAP 3.02 NAP NAP NAP Manipal Health Enterprises Healthcare
95 70 -25 Anu Aga & family 25,250 32,313 -7,063 -21.86 2.94 3.85 -0.90 -23.50 Thermax Capital Goods
96 79 -17 S. ‘Kris’ Gopalakrishnan 25,145 29,568 -4,422 -14.96 2.93 3.52 -0.59 -16.75 Infosys IT
97 98 1 Anand Mahindra 24,595 23,631 963 4.08 2.87 2.81 0.05 1.89 Mahindra & Mahindra, Tech
Mahindra, Swaraj Engines
Diversified
98 86 -12 Murlidhar
Gyanchandani & family
24,398 27,049 -2,651 -9.80 2.84 3.22 -0.38 -11.70 RSPL FMCG
99 NAP NEW Kamesh Goyal 24,310 NAP NAP NAP 2.83 NAP NAP NAP Go Digit General Insurance BFSI
100 114 14 Yadu Hari Dalmia 24,283 19,652 4,632 23.57 2.83 2.34 0.49 20.97 Dalmia Bharat, Dalmia
Bharat Sugar & Industries
Cement, Sugar
From the Vault

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Offices

142, 14th Floor, Maker Chambers VI, Nariman Point, Mumbai - 400021

7, Avighna House, 82, Dr. Annie Besant Road, Worli Naka, Siddharth Nagar, Worli, Mumbai, Maharashtra 400018

SEBI Office: Plot No. C4-A, 'G' Block, Bandra-Kurla Complex, Bandra(East), Mumbai - 400051

14th & 18th Floor, Berger Delhi One, Sector 16B, Noida, Gautam Budh Nagar – 201301

SEBI Office: NBCC Complex, Office Tower-1, 8th Floor, Plate B, East Kidwai Nagar, New Delhi – 110023

Bengaluru

Level 5, No. 501, Prestige Garnet, 36, Ulsoor Road, Bengaluru – 560042

SEBI Office: 2nd Floor, Jeevan Mangal Building, No.4, Residency Road, Bengaluru - 560025

Chennai

Workafella No.10, Uthamar Gandhi Salai, Nungambakkam High Road, Nungambakam, Chennai - 600034

SEBI Office: 7th Floor, 756-L, Anna Salai, Chennai - 600002

Unit No. 701, A Wing, 7th floor, Sunteck Kanaka Corporate Park, Patto, Panjim, Goa - 403001

SEBI Office: 6th Floor, EDC House, Atmaram Borkar Road, Panaji - 403001, Goa

1-111, Raheja Woods 8, Central Avenue, Kalyani Nagar, Pune, MH 411006

SEBI Office: Plot No. C4-A, 'G' Block, Bandra-Kurla Complex, Bandra(East), Mumbai - 400051

Kolkata

916, PS Arcadia, Level 9, 4A, Camac Street, Kolkata 700016

SEBI Office: L&T Chambers, 3rd Floor, 16 Camac Street, Kolkata - 700017, West Bengal

Gujarat

GA-04, Block15, Ground Floor, Pragya Accelerator, Rd 1C, Gift City, Gandhinagar - 382355, Gujarat

Lucknow

1004, Regus Alacrity Business Center, Levana Cyber Heights, Vibhuti Khand, Gomti Nagar, Lucknow 226010