2nd Edition of ‘Kotak Wealth Hurun – Leading Wealthy Women’

Kotak Wealth Management – a division of Kotak Mahindra Bank (Kotak), and Hurun India today announced the launch of the 2nd edition ofKotak Wealth Hurun – Leading Wealthy Women’ – a compilation of the wealthiest women in India. The listing is based on the net worth of women as on 30th September 2020. The 2020 edition of the report focuses exclusively on women who play an active role in their family business, entrepreneurs and professionals.



The report is a data-driven attempt to understand wealth creation among Indian women and celebrate the success of the top 100 entrepreneurs, professionals and businesswomen in India. The average wealth of the women on this list is about INR 2,725 crore. The threshold for the ranking is INR 100 crore.


Oisharya Das, CEO – Wealth Management, Kotak Mahindra Bank said, “One of the defining developments over the last couple of decades is the giant strides that women have taken as wealth creators. The Kotak Wealth Hurun – Leading Wealthy Women 2020 report reveals an interesting and inspiring trend of more and more trailblazing women leading the way and scripting success stories across a wide variety of industries and encompassing cities & towns pan India. For India to achieve its aspirational target to be a US$5 trillion economy by 2025, women will continue to play a crucial role as wealth creators in order to achieve that goal.”


Anas Rahman Junaid, MD & Chief Researcher, Hurun India said, “The women on the Kotak Wealth Hurun – Leading Wealthy Women 2020 list are the most successful women leaders in India. Their stories deserve to be shared and studied. What is it that makes them successful? How did they do it? I hope this list can inspire more women to become entrepreneurs, run businesses or lead companies.”



The Kotak Wealth Hurun – Leading Wealthy Women List 2020 has been researched and compiled by Hurun India based on the net worth of all women entrepreneurs, professionals, businesswomen and investors as on 30th September 2020, when the exchange rate of the Indian Rupee to the US$ was at INR 73.57. The list considers only Indians, defined as born or brought up in India and who are actively managing their businesses or are self-made.


Valuing the wealth of India’s richest is as much an art as it is a science. Sure, Hurun India could have missed some, but rest assured, our endeavour has been to develop the most comprehensive report of its kind with the objective to identify and acknowledge India’s top women entrepreneurs, business owners, professionals and investors.


The source of wealth includes both inherited and self-made wealth. Hurun India’s team of researchers have travelled the length and breadth of the country, cross-checking information with entrepreneurs, industry experts, journalists, bankers and all possible sources of information. For unlisted companies, Hurun India’s valuation is based on a comparison with their listed equivalents using prevailing industry multiples such as Price to Earnings, Price to Sales, EV to Sales, EV to EBITDA and also other methodologies including Discounted Cash Flow, Tobin’s Q and so on. In certain cases of early stage companies, Hurun India has used First Chicago Method for valuation.


Hurun India ascertained the level of activity based on the following parameters

  • Whole-time Director, Executive Director or Managing Director
  • Former Whole-time Director, Executive Director or Managing Director
  • A person who is mentioned as key managerial personnel based on remuneration
  • Responsible for attending a board meeting or any functional activities

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