Radhakishan Damani
Indian investor and retailer; founder of Avenue Supermarts (DMart)
| Radhakishan Damani
| |
|---|---|
| Born | 1955 (Forbes) |
| Nationality | Indian |
| Residence | Mumbai, India (Forbes) |
| Occupation | Investor and retailer |
| Known for | Avenue Supermarts (DMart) |
| Children | 3 (Forbes) |
| Sibling(s) | Gopikishan Damani (Forbes) |
Radhakishan Damani (born 1955) is an Indian stock market investor and retailer. He founded Avenue Supermarts, which runs the DMart supermarket chain.[1][2] On 10 November 2026 the Forbes Real-Time Billionaires list ranked Damani 222nd in the world, with an estimated net worth of US$13.7 billion; Forbes lists the source of wealth as retail, investments.[1][3] In the annual World's Billionaires list published in 2026, Forbes had ranked Damani 185th, at US$15.7 billion.[4] Forbes says he became India's "retail king" after the company's 2017 flotation.[1] The chain had 518 stores at 30 September 2026. In the quarter to that date Avenue Supermarts reported standalone revenue of Rs 19,206 crore, up 18.4% on a year earlier.[2][5]
Investing
Forbes describes Damani as a veteran Mumbai investor who mentored the late investor Rakesh Jhunjhunwala. It says he rarely appears at public events and avoids the press.[1] He holds stakes in other companies, including the tobacco company VST Industries.[1]
India Cements
CNBC-TV18 reported that Damani had raised his stake in India Cements from 1.3% to 4.7% in the December 2019 quarter. In June 2024 he, his brother Gopikishan and associated holders sold about 23% of the company for ₹1,889 crore at an average of ₹267.74 a share. UltraTech Cement bought the whole block, which it described as a non-controlling financial investment. Damani sold 3.5 crore shares and his brother 2.5 crore.[6] Forbes describes the buyer as Kumar Birla.[1]
Avenue Supermarts
Forbes says Damani went into retailing in 2002 with one shop in suburban Mumbai, while CNBC-TV18 gives the company's founding year as 2000.[1][6] The chain sells everything from groceries to clothing and footwear.[1] It operates in Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, the NCR, Tamil Nadu, Punjab and Rajasthan.[2] For the quarter to 30 September 2026 the company reported standalone revenue of Rs 19,206 crore and profit after tax of Rs 804 crore, up 7.6%. It opened 15 stores in the quarter and 18 in the half-year.[5]
Property
Forbes says Damani's property includes the 156-room Radisson Blu Resort in Alibag. In 2021 he and his brother reportedly bought a house in south Mumbai for more than US$100 million. In 2023 they reportedly paid US$155 million for 28 apartments in a Mumbai tower developed by Vikas Oberoi.[1]
Wealth
Forbes classes Damani as self-made, with wealth from retail and investments.[1]
Wealth history
Forbes has included this entry in its annual World's Billionaires list in 6 of the editions from 2001 to 2026 checked for this profile, starting with 2021. The table gives the rank and estimated net worth in each annual list.[4][1]
| Year | World's Billionaires rank | Net worth (US$ bn) |
|---|---|---|
| 2021 | 117 | 16.5 |
| 2022 | 81 | 20.0 |
| 2023 | 114 | 15.3 |
| 2024 | 107 | 17.6 |
| 2025 | 138 | 15.4 |
| 2026 | 185 | 15.7 |
International and political links
This section uses the same ten headings for every profile in this series. Only specific, sourced actions are included; company-level and foundation-level actions are labelled as such. Where nothing was found, the entry reads "No documented involvement found in sources checked."
Israel (investments, operations, donations, contracts, statements)
No documented involvement found in sources checked.
Zionist or pro-Israel organisations and lobbying groups
No documented involvement found in sources checked.
Jewish communal charities
No documented involvement found in sources checked.
Gulf states
No documented involvement found in sources checked.
China
No documented involvement found in sources checked.
Russia
No documented involvement found in sources checked.
India
No documented involvement found in sources checked.
Palestinian or Arab causes
No documented involvement found in sources checked.
Home government
Damani is an Indian citizen based in Mumbai. Business Standard lists DMart's markets as Indian states and regions.[1][2]
Other international links
No documented involvement found in sources checked.
See also
Notes
- ↑ 1.00 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.09 1.10 1.11 Forbes, Forbes profile record for Radhakishan Damani (Forbes data feed behind forbes.com/profile/radhakishan-damani-1/) Forbes, live record, read 10 November 2026, accessed 10 November 2026.
- ↑ 2.0 2.1 2.2 2.3 Press Trust of India, D-Mart Q2FY27: Revenue rises 18.4% to ₹19,206 crore; store count at 518 Business Standard, 3 October 2026, accessed 10 November 2026.
- ↑ Forbes, Forbes Real-Time Billionaires data feed Forbes, live; downloaded 10 November 2026 23:28 UTC, accessed 10 November 2026.
- ↑ 4.0 4.1 Forbes, Forbes World's Billionaires list data feed, annual editions 2001–2026 (one file per year at this path with the year substituted; all 26 files downloaded and read) Forbes, annual lists; downloaded 20 October 2026, accessed 10 November 2026.
- ↑ 5.0 5.1 Avenue Supermarts, Press release: financial results for the quarter and half year ended 30 September 2026 Avenue Supermarts (NSE filing), 10 October 2026, accessed 10 November 2026.
- ↑ 6.0 6.1 Yoosef K, Radhakishan Damani and associates offload India Cements shares for ₹1,889 crore CNBC-TV18, 27 June 2024, accessed 10 November 2026.