D-Mart: Founder Radhakishan Damani Net Worth
About D-Mart
Avenue Supermarts Ltd., doing business as DMart, is a Indian chain of hypermarkets in India founded by Radhakishan Damani in the year 2002, with its first branch in Powai’s Hiranandani Gardens. As of 31 December 2019, it had 196 stores in 72 cities across 11 states in India including Maharashtra, Andhra Pradesh, Telangana, Gujarat, Madhya Pradesh, Chhattisgarh, Rajasthan, National Capital Region, Tamil Nadu, Karnataka, Uttar Pradesh, Daman and Punjab.
DMart is promoted by Avenue Supermarts Ltd. (ASL). The company has its headquarters in Mumbai. As of 31 March 2019, DMart had a total of 7,713 permanent employees and 33,597 employees hired on contractual basis.
After the IPO listing (as Avenue Supermarts Ltd.), it made a record opening on the market on the National Stock Exchange. After the close of the stock on 22 March 2017, its market value rose to ₹39,988 crore. This pegged it as the 65th most valuable Indian firm, ahead of Britannia Industries, Marico and Bank of Baroda.
As of 21 November 2019, the market capitalization of DMart is close to ₹114,000 crore. This is 33rd rank for all listed companies in Bombay Stock Exchange.
Brief Details:
Trade name: DMart
Industry Retail: Genre Supermarket
Founded: Powai, Mumbai, Maharashtra (15 May 2002; 18 years ago)
Founder: Radhakishan Damani
Headquarters: Anjaneya Cooperative Housing Society Ltd, Orchard Avenue, Powai, Mumbai, Maharashtra, India
Number of locations: 214 (March 2020)
Revenue $3.26 billion (FY20)
Net income: $178.5 million (FY20)
Website: dmartindia.com
Online Shop: Website
Founder & Owner Radhakishan Damani
Radhakishan S. Damani is an Indian investor, businessman and founder of DMart. As of February 2020, Damani is the second richest person in India.
Born: 1954 (age 65–66)
Nationality: Indian
Children: 3
Residence: Altamount Road, Mumbai
Occupation: Businessman, investor
Founder: of DMart
Net worth: US$14.3 billion (May 2020)
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Career of Radhakishan S. Damani
Damani was raised in a single room apartment in Mumbai. He studied commerce at the University of Mumbai but dropped out after one year. After the death of his father who worked on Dalal Street, Damani left his ball bearing business and became a stock market broker and investor. He made profits by short-selling stocks that were inflated by illegal means by Harshad Mehta in the 1990s. Damani was reportedly the largest individual shareholder of HDFC Bank after it went public in 1995.
In 1999, he operated a franchise of Apna Bazaar, a cooperative department store, in Nerul, but was "unconvinced" by its business model. He quit stock market in 2000 to start his own hypermarket chain, DMart, setting up the first store in Powai in 2002. The chain had 25 stores in 2010, post-which the company grew rapidly and went public in 2017.
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List of Departmental Store:
Maharashtra: Amravati, Aurangabad, Ichalkaranji, Jaisingpur, Jalgaon, Jalna, Karad, Kolhapur, Latur, Miraj, Mumbai, Nagpur, Nanded, Navi Mumbai, Osmanabad, Pune, Ratnagiri, Sangli, Satara, Solapur, Thane
Gujarat: Ahmedabad, Anand, Baroda, Bhuj, Gandhinagar, Gandhidham, Mehsana, Nadiad, Rajkot, Surat, Valsad, Vapi
Daman: Daman
Telangana: Hyderabad, Karimnagar, Khammam, Warangal
Andhra Pradesh: Eluru, Guntur, Kakinada, Kurnool, Nellore, Ongole, Rajamundhary, Tirupati, Tuni, Vijayawada, Visakhapatnam
Karnataka: Bengaluru, Belgaum
Madhya Pradesh: Bhopal, Dewas, Indore, Ratlam, Ujjain
Chhattisgarh: Bhilai, Raipur
NCR: Ghaziabad
Tamil Nadu: Chennai, Coimbatore, Salem, Trichy
Punjab: Amritsar, Jalandhar, Zirakpur
Rajasthan: Ajmer, Bhilwara, Jaipur