How much is Radhakishan Damani Worth? Radhakishan Damani Net Worth in 2026
Radhakishan Damani’s net worth is estimated at $17 billion as of November 2026, within a range of $13 billion to $21 billion. Almost all of it is one stock. Damani, the Mumbai investor who started the DMart supermarket chain, holds around two thirds of Avenue Supermarts, and the sums below show that when the share price fell about 8 percent in the first nine days of October 2026, his stake lost roughly $1.4 billion on paper.
| Net worth | $17 billion (estimate, range $13 billion to $21 billion) |
|---|---|
| Born | 12 July 1955 per Wikipedia (another tag there says 1954), age 71 |
| Country | India |
| Known for | Founding DMart, India’s profit-focused supermarket chain, and quiet stock investing |
| Main income sources | Avenue Supermarts stake, a portfolio of listed shares, property |
How much is Radhakishan Damani worth in 2026?
We put Damani at about $17 billion. The range is wide because the answer swings with the DMart share price, which closed at ?3,830 on 1 October 2026 and ?3,516.80 on 9 October. The 9 October close is the latest dated price we could open, so it is about three weeks old. Below, every rupee figure is turned into dollars at ?95 to the dollar, the rate we use for early November 2026.
How Radhakishan Damani built it
- Made money betting against the crowd. In the early 1990s he made large profits short-selling shares Harshad Mehta had inflated.
- Left the market to build a store. He quit stock trading in 2000 and opened the first DMart in Powai in 2002; there were 518 stores by September 2026.
- Kept control after listing. Promoters still hold about 74.5 percent of Avenue Supermarts years after the 2017 IPO.
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Get the Alux appHow we got to $17 billion
| Source | Our estimate | What it rests on |
|---|---|---|
| Avenue Supermarts (DMart) stake | $16.20 billion | Share price documented, share count implied. About 65.1 crore shares (implied by market-cap figures we saw, not a filing we opened) at ?3,516.80 on 9 October 2026 is a market value near ?2.29 lakh crore. We use a holding of 67.24 percent, as listed by a tracker page that does not say whose name it is in, which gives ?1.54 lakh crore. Another tracker shows 72 percent; the promoter group as a whole holds about 74.5 percent, including relatives. |
| Other listed holdings | $0.70 billion | Stakes in VST Industries (29.1 percent), Trent, Sundaram Finance, United Breweries, 3M India and others add up to about ?6,650 crore in a tracker table that is labelled June 2026 but was last updated in January 2026, so treat the date and value as approximate. |
| Mumbai property | $0.18 billion | Purchase prices, not today’s values. He and his brother paid about ?1,001 crore for a Malabar Hill house in 2021 and we count half. Wikipedia says he bought 28 apartments at Three Sixty West for ?1,238 crore in 2023. Total ?1,740 crore. |
| Total | $17.1 billion | Sum of the rows above, rounded to $17 billion. |
The largest row rests on a dated share price. The 67.24 percent attribution and the implied share count are our choices, and we apply no discount for the size of the holding.
What eight days in October cost him
By our calculation, the shares closed at ?3,830 on 1 October, Angel One said, and at ?3,516.80 on 9 October, after a 1.9 percent fall that day, per Upstox. That is a fall of ?313.20 a share, or 8.2 percent. On 65.1 crore shares at 67.24 percent, about 43.8 crore shares, the drop is ?13,700 crore, or about $1.4 billion at ?95, in eight days. A tracker page, 5paisa, lists the stake at ?1,87,313 crore, but its dates are inconsistent, so we do not compare against it.
The results came the next day. For the three months to September 2026, Angel One reported standalone revenue of ?19,206 crore against ?16,219 crore a year earlier, 18.4 percent more by our division, with 518 stores. Upstox reported on 10 October that consolidated net profit rose 8.5 percent to ?743.57 crore, and that DMart opened 15 stores in the quarter. We did not find a price after the results, which is why the ledger uses the 9 October close.
The two property deals
Business Today reported that in March 2021 Damani and his brother Gopikishan bought an independent house in Malabar Hill for ?1,001 crore, which it called one of the biggest property deals seen in India in recent times. Wikipedia says that in 2023 he bought 28 units in the Three Sixty West apartments for ?12.38 billion. Together they make about ?2,240 crore of property at purchase prices, of which we count ?1,740 crore because the first deal was shared.
Why published figures disagree
Public estimates differ for plain reasons. Some count the whole promoter group, including relatives, as his. Some use an older share price than the October one. Others apply a fixed 67 percent when Kuvera lists 72 percent.
What would move the figure
The DMart share price is the only driver that matters: each ?100 on it moves his stake by about $0.46 billion (65.1 crore shares x 67.24 percent x ?100, divided by ?95). In the April to June 2026 quarter he also bought a 2.37 percent stake in Sundaram Finance and added 1.4 percent of VST Industries for ?75.6 crore, per Kuvera.
Radhakishan Damani net worth FAQ
How much of DMart does Radhakishan Damani own?
About 67 percent for him and his entities according to one tracker, and about 74.5 percent for the promoter group including relatives. Another tracker gives 72 percent for him alone.
How did Damani make his money before DMart?
He was an investor, and Wikipedia reports he made large profits in the early 1990s short-selling shares that Harshad Mehta had inflated. He left the stock market in 2000 to start DMart.
When did the first DMart store open?
In 2002 in Powai, Mumbai. The chain had 25 stores by 2010 and went public in 2017. It had 518 stores after the quarter ended September 2026.
How much did Damani pay for his Mumbai bungalow?
?1,001 crore in March 2021, with his brother Gopikishan, per Business Today. Stamp duty was ?30 crore.
What other stocks does Damani hold?
He holds VST Industries (29.1 percent), Trent, Sundaram Finance, United Breweries, 3M India and others, together worth about ?6,650 crore in a tracker table labelled June 2026.
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How we estimate net worth
Our estimates are based on public reporting, company valuations, and deal and earnings figures all compiled in an internal valuation model. They are approximate, and figures change over time as new information emerges.
Last updated: November 2026.