Radhakishan Damani net worth: Danveer Radhakishan Damani became richer, net worth $19.3 billion Radhakishan Damani, the owner of D Mart, became richer, net worth $19.3 billion
Danveer Radhakishan became rich and rich, net worth of $ 19.3 billion
- Radhakishan Damani’s name included in the list of 100 rich people of the world
- Nearly 60 percent increase in total assets in the last 18 months
- Avenue Supermarkets bat bat, Goldman Sachs presents latest report
Radhakishan Damani, the promoter and owner of Avenue Supermarts, which runs a demat retail chain, has entered the list of the top 100 richest people in the world. According to the Bloomberg Billionaires Index, Damani is now the 97th richest person in the world with a net worth of $19.3 billion or Rs 1.43 lakh crore. Over the past 18 months, his net worth has grown by almost 60% from $12 billion on March 1, 2020, to $19.3 billion now.
Avenue Supermarkets shares jump
Shares of Avenue Supermarts have gained 61 per cent in the past one year as the company nearly recovered from the impact of the Covid-19 pandemic, which led to a nationwide lockdown and localized lockdown in the first wave of 2020. The second wave started earlier this year. With consistent financial performance, quality management and its low-cost operating model, Avenue Supermarts is one of the preferred stock among investors and mutual fund houses. According to the brokerage, the company’s digital services are making good progress to compete with the established e-commerce giants.
Goldman Sachs latest report
Goldman Sachs in its latest report has said that DMart enjoys better pricing power than its competitors in both online and offline segments. “Based on our FMCG product pricing date, we believe DMart’s pricing offering versus JioMart is currently the strongest since the latter’s launch in 2020.
Compared to online competitor Big Basket, DMart remains competitive in the pricing basket and the difference between the two is also the widest. Damani and the promoter group hold 74.90 per cent stake in Avenue Supermarts. Damani also has investments in a few other companies, which have helped him garner net worth. He holds 11.3% in India Cements, 26% in VST Industries, 2.4% in Sundaram Finance.
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