Some candidates with an estimated wealth of $1 billion or more were left off the list this year
Image: Amit Verma
A billion dollars no longer guarantees a spot in the top 100 club. More than 30 candidates with an estimated wealth of $1 billion or more were left off the list this year. Despite recent swings in the benchmark Sensex, 10-figure fortunes continue to be made and a stock-market listing remains a route to riches. Four of these six new faces have public companies and one is planning to list.
Rajesh Mehra: 60
$1.4 billion
Jaquar Group
Building on a company started by their father, Mehra and his brothers launched Jaquar, a premium brand of bathroom fittings, in 1986. When distributors baulked at the steep price, they set up their own stores and offered repairs and replacements. Jaquar, named after their grandmother Jai Kaur, is now among the leading brands of bathroom fittings and holding its own against multinational rivals. The range is designed to withstand Indian conditions such as water with high iron content. In 2015 they renamed their enterprise Jaquar Group, which reported sales of $496 million in the year ended March 2018. The company has also introduced a range of lighting fixtures under the Jaquar brand.
(This story appears in the 28 December, 2018 issue of Forbes India. To visit our Archives, click here.)