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Meet man who owns Rs 70 crore home, net worth is Rs 6500 crore, is not owner of a company, he works as...
Within business circles, he is respected not only for his intelligence and hard work but also for his humility. In fact, his office space is said to be much smaller than that of other CEOs of large corporations.
Updated : Feb 20, 2024, 09:42 AM IST
 "Ignatius Navil Noronha dmart")
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India is a country brimming with successful businessmen, industrialists and entrepreneurs. While many have amassed vast fortunes, others, like Ignatius Navil Noronha, have quietly climbed the corporate ladder, demonstrating their leadership and vision.
The CEO of DMart, Ignatius Navil Noronha, stands out as one of India's wealthiest individuals. Although he hasn't founded a company or directly engaged in business activities, his leadership and strategic acumen have played a crucial role in DMart's remarkable success. Despite his significant wealth, Navil Noronha remains unassuming and prefers to maintain a low profile.
For those unfamiliar with him, Navil Noronha is happily married to Kajal Noronha. Within business circles, he is respected not only for his intelligence and hard work but also for his humility. In fact, his office space is said to be much smaller than that of other CEOs of large corporations.
Navil Noronha holds a science degree from SIES College of Arts, Science, and Commerce and a management degree from the Narsee Monjee Institute of Management Studies (NMIMS). His journey at DMart started when he was in his twenties. Hired by renowned investor Radhakishan Damani, Navil Noronha quickly proved his worth by contributing significantly to the retail giant's strategy and operations.
Before joining DMart's parent company, Avenue Supermarts Limited, Navil Noronha spent eight years at Hindustan Unilever, where he worked as a sales executive and gained valuable experience in market research and modern trade. His experience and insights were instrumental in DMart's growth trajectory.
Currently serving as the CEO of DMart, Navil Noronha continues to propel Avenue Supermarts Limited to new heights. He is often referred to as the 'Management GOAT (Greatest of All-Time)' by the business community for his pioneering strategies that have reshaped the FMCG sector. Notably, his 48-hour supplier policy has been hailed as a game-changer.
While Navil Noronha generally shies away from media attention, he made headlines when he invested in a luxurious apartment in Mumbai. The property, located in Mumbai's Bandra East area, cost him a staggering Rs 70 crore, which spans 9,552 square feet and is equipped with a 10-vehicle garage.
Reports suggest that Navil Noronha holds a 2 per cent stake in Avenue Supermarts Limited, contributing to his impressive net worth, estimated to be around Rs 6500 crore. With a rise of 113 per cent in the company's stocks in 2021, he has solidified his position as one of India's richest CEOs. Noronha reportedly earned a salary of over Rs 4.5 crore in FY 2021-22.
