Acharya Balakrishna, the man behind yoga guru Baba Ramdev's consumer goods empire Patanjali Ayurved, has stormed into the Hurun India Rich List with a wealth of Rs 25,600 crore (around $3.8 billion).
Balakrishna, 44, was ranked 26 among 339 in the list with individuals having Rs 1,600 crore (around $240 million) or more, the Hurun India Rich List 2016 report, which focuses on high-net-worth individuals in China and India, showed.
Patanjali Ayurved has grown almost five times between FY12 and FY15 when top FMCG firms in India such as Hindustan Unilever, Godrej Consumer, Marico, Dabur and Emami grew 30-70%.
"Yoga Acharya’s Patanjali took the market by storm and is eating away market share of other multinational FMCGs. Patanjali registered a turnover of Rs 5,000 crore and expects to hit Rs 10,000 crore in 2017," the report noted.
Mukesh Ambani of diversified conglomerate Reliance Industries Ltd retained the top slot for a fifth year in a row with a wealth of Rs 163,400 crore (around $25 billion).
Ambani was followed by Dilip Sanghvi of India's top drug manufacturer Sun Pharmaceuticals and Pallonji Mistry of Tata Enterprises. While Sanghvi retained the second spot with Rs 121,500 crore (around $18 billion) Mistry rose to the third slot with Rs 110,100 crore (around $16 billion) from his fifth position last year. Cyrus Poonawalla of vaccine maker Serum Institute of India moved up to the fifth place against eleventh last year.
Azim Premji of information technology company Wipro with Rs 7,4700 crore (around $11 billion) is in the sixth position while Uday Kotak climbed to the ninth position backed by a 9% year-on-year increase in the share price Kotak Mahindra Bank in which he holds 33.7%.