DMart, a supermarket chain founded by Radhakishan Damani has emerged as the most valuable Indian company founded by a self-made entrepreneur post-2000, with a valuation of Rs 3.42 lakh crore, according to the latest Hurun India report released on Wednesday. The parent company, Avenue Supermarts, saw a rise by 44 per cent in its valuation over the past year, solidifying its top spot in the rankings.
Zomato, the food delivery giant founded by Deepinder Goyal, followed closely behind with a 190 per cent surge in valuation, reaching Rs 2.51 lakh crore, securing second place in the rankings. Swiggy, its primary competitor, founded by Sriharsha Majety and Nandan Reddy, claimed the third spot with a valuation of Rs 1.01 lakh crore, marking a 52 per cent increase.
DMart has held the top position for two consecutive years, with Flipkart and Zomato rounding out the top spots last year. However, Flipkart, Paytm, Max Healthcare, and Cre companies that were once part of the top-10 have now dropped off the list.
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Notably, new entries to the top-10 include Makemytrip, founded by Deep Kalra and Rajesh Magow, with a valuation of Rs 99,300 crore, and PolicyBazaar, founded by Yashish Dahiya and Alok Bansal, ranked sixth. Other companies like Dream 11, founded by Bhavit Sheth and Harsh Jain, and Razorpay, founded by Harshil Mathur and Shashank Kumar, saw drops in their rankings this year.
The report also revealed that the direct tax outgo for the top 200 self-made entrepreneurs who established their businesses post 2000 decreased by 10 per cent, amounting to Rs 4,570 crore in the last year.
In terms of geographical concentration, Bengaluru remains the preferred hub for entrepreneurs, with 66 of the top-200 companies headquartered there, followed by Mumbai with 36. IIT Delhi is also credited with contributing the largest number of founders to the list.
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