Top 25 - India's Richest

#1 Mukesh Ambani

Denis Balibouse/Reuters

Net Worth: $32 billion
Age: 52
Marital Status: Married, 3 children
Hometown: Mumbai

Head of oil and gas conglomerate Reliance Industries, India's most valuable company, is locked in a three-year court battle with his estranged younger brother Anil, over an agreement to supply gas at a price that is 44% below the government-mandated price. Brothers' verbal duel reached crescendo in August with each accusing the other of foul play. Case is now being heard before the Supreme Court. Reliance's stock was hit in late October, when Hardy Oil and Gas, which is partnering with Reliance in the Krishna Godavari Basin off India's East coast, announced it was abandoning exploration of one well as it was dry; also hurt by drop in net profits in latest quarter. In a politically correct move, took a voluntary 66% cut in his compensation in last fiscal year, reducing it to $3.2 million.

#2 Lakshmi Mittal

Reuters

Net Worth: $30 billion
Age: 59
Marital Status: Married, 2 children
Hometown: London

His ArcelorMittal posted a net profit in third quarter after three consecutive quarterly losses; still down 75% from a year ago. Steel giant, which paid down debt in past year, is looking to invest in Brazil, India and the Middle East. Picked a site in India though may switch in response to farmers' protests. Steel workers attacked its Luxembourg headquarters during its annual shareholders meeting in May to protest temporary layoffs during slump. Owns 12-bedroom mansion in London's posh Kensington neighborhood; has stake in British soccer team QPR. Works out for an hour a day. Megha Mittal, wife of his only son, Aditya, who is steel group's financial director, recently bought the insolvent German fashion house Escada.

#3 Anil Ambani

Net Worth: $17.5 billion
Age: 50
Marital Status: Married, 2 children
Hometown: Mumbai

Younger Ambani sibling, who runs his Reliance Anil Dhirubhai Ambani Group, with interests in telecom, power, infrastructure, financial services and entertainment, moved battle with his brother Mukesh into high gear. Created a stir when he went public with the allegation that India's petroleum minister was partial to Mukesh's Reliance Industries in their gas supply dispute. Government denied any favoritism. Matter is now in India's Supreme Court. A recent government-ordered audit of his Reliance Communications alleges that the company underpaid license fees to the government. Company has refuted the charges. In July, his entertainment unit finalized deal to invest $825 million with Steven Spielberg's DreamWorks Studios to co-produce films. His wife Tina oversees a hospital in Mumbai named after his mother.

#4 Azim Premji

AP Photo

Net Worth: $14.9 billion
Age: 64
Marital Status: Married, 2 children
Hometown: Bangalore

Software czar chairs $5.5 billion (revenues) Wipro, country's third-largest software exporter. Reported a 19% jump in net profits in latest quarter, signaling a rebound for U.S.-dependent outsourcing giant. Of late, Wipro has landed big deals at home, including a $500 million, nine-year contract from Unitech Wireless, telecom unit of fellow billionaire Ramesh Chandra (No. 25), and one from Delhi International Airport, part of the GMR Group, chaired by G.M.Rao (No. 13). Company's consumer care division recently signed $46 million deal to buy Asian business of personal care brand Yardley from U.K.'s Lornamead. His private equity arm PremjiInvest has 10% in bankrupt discount retailer Subhikhsa. Eldest son Rishad, a Harvard grad who works with Wipro, was appointed general manager for treasury and investor relations in July.

#5 Shashi & Ravi Ruia

AP Photo

Net Worth: $13.6 billion
Age: 65/60
Marital Status: Married, 2 children/Married, 2 children
Hometown: Mumbai

The brothers' $15 billion (revenues) Essar Group has weathered downturn and embarked on an expansion drive in all its businesses including steel, oil and power. As part of a global push, refiner Essar Oil bought 50% in Kenya Petroleum Refineries in July and is negotiating with Royal Dutch Shell to acquire three refineries with a total refining capacity of 25 million tonnes. Brothers (Ravi Ruia pictured above) are trying to raise $925 million, using part of their 33% stake in Vodafone Essar, India's third largest mobile phone operator, as collateral. But they withdrew their $150 million bid to take over Australian coal firm Rocklands Richfield, paving the way for other bidders, who include Jindal Steel & Power.

#6 Kushal Pal Singh

Indiatodayimages.com

Net Worth: $13.5 billion
Age: 78
Marital Status: Married, 3 children
Hometown: Delhi

Chairman of DLF, India's most valuable property company, its stock has rebounded 58% in 2009, reflecting the revival in the real estate market but still lagging the Sensex's 75% rise. Run by his son Rajiv who is DLF's vice chairman. To lure buyers, the developer cut prices earlier this year at some projects. In May, family sold nearly 10% of its DLF stake for $834 million, mainly to infuse funds into DLF Assets, their debt-laden private arm, and to buy out hedge fund D.E. Shaw's stake in it. Company has also been selling other assets, notably its 50% stake in a joint venture in Mumbai with real estate magnate Hemant Shah (No. 80), in a move to repay its considerable debts.

#7 Savitri Jindal

The Hindu

Net Worth: $12 billion
Age: 59
Marital Status: Widowed, 9 children
Hometown: Hisar/Delhi

Non-executive chair of the O.P. Jindal Group, a steel and power conglomerate founded by her late husband Om Prakash Jindal in 1952. Took over as group head after he died in a helicopter crash in 2005. In his lifetime, patriarch had handed down operations to their four sons Prithviraj, Sajjan, Ratan and Naveen who run companies in their charge independently. Net worth up $9.1 billion in past year, mainly due to Naveen's Jindal Steel & Power whose market capitalization soared almost four-fold. Plans to take its power subsidiary public next year. Sajjan's JSW Energy is also planning an IPO. She recently got reelected in the assembly elections in Haryana.

#8 Sunil Mittal

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Net Worth: $8.2 billion
Age: 52
Marital Status: Married, 3 children
Hometown: Delhi

His flagship Bharti Airtel, India's largest mobile phone operator with 110 million customers, faced setbacks: after backing out of a deal to take over South Africa's MTN last year, he revived bid to pull off a mega-merger with MTN that would have created world's third largest telecom firm, but that too collapsed in September after months of negotiations. Stock is down 9% this year in a market that is up 75% in the same period. It took a hit also due to a tariff war unleashed by Tata Docomo which launched a per second billing rate forcing Bharti to match it. Group's joint venture with Wal-Mart, which younger sibling Rajan oversees, launched its first cash and carry store in May in North India.

#9 Kumar Birla

Sajjad Hussain/AFP/Getty Images

Net Worth: $7.8 billion
Age: 42
Marital Status: Married, 3 children
Hometown: Mumbai

Head of $29 billion (revenues) commodities conglomerate Aditya Birla Group. His big move was a proposal to restructure group's cement business, eventually to be spun off from flagship Grasim Industries and merged into subsidiary UltraTech Cement. Deal will create India's biggest cement company and the world's tenth largest. Also planning to spin off financial services business, currently part of Aditya Birla Nuvo, maker of carbon black and viscose yarn, into Aditya Birla Financial Services. Idea Cellular, group's telecom unit, is embroiled in ongoing price war. Aditya Birla Retail which runs the More supermarket chain has yet to make profits. Launched private equity fund.

#10 Gautam Adani

Sam Panthaky/AFP/Getty Images

Net Worth: $6.4 billion
Age: 47
Marital Status: Married, 2 children
Hometown: Ahmedabad

Trader-turned-industrialist chairs Adani Group, which he founded in 1988 as a commodities trading outfit. Expanded into energy, infrastructure. His Mundra Port on India's west coast is country's biggest in private sector. Raised $652 million in August by taking 70%-owned Adani Power public. Stock is trading below issue price. He's planning to raise $325 million more through a rights issue of listed Adani Enterprises to invest in coal mining. Is reportedly on good terms with Narendra Modi, powerful chief minister of Gujarat state where Adani's businesses are located. Wife Priti oversees school run by Adani Foundation, family's charitable arm.

#11 Anil Agarwal

Indiatodayimages.com

Net Worth: $6.3 billion
Age: 56
Marital Status: Married, 2 children
Hometown: London

Metals, mining magnate, owns London-listed Vedanta Resources. His various companies have been on fund-raising spree, raising $3.35 billion since June through convertible bonds, issuance of ADRs, to fund expansion plans. Group's India-listed Sterlite Industries is in a protracted race against Grupo Mexico to get control of bankrupt American copper miner Asarco. His Sterlite, recently lost race to acquire bankrupt American copper miner Asarco when a US district judge in Texas ruled in favor of Grupo Mexico. The land acquisition for his new Vedanta University to which he's pledged $1 billion is still to be completed.

#12 Adi Godrej

The Hindu

Net Worth: $5.4 billion
Age: 67
Marital Status: Married, 3 children
Hometown: Mumbai

Third generation to chair consumer products conglomerate Godrej Group whose 3,500 acre campus, with school and hospital, in suburban Mumbai is family's most valuable asset. Group's property arm, where son Pirojsha is a director, is planning a public listing soon. Is likely to buy out Sara Lee's 51% stake in their joint venture that makes household care products, including insecticides. Daughter Tanya, who oversees branding and marketing, talked about as front runner to succeed him. Recently, he was one of 40 chief executives to model in a charity fashion show in Mumbai.

#13 G.M. Rao

The Hindu

Net Worth: $4.3 billion
Age: 59
Marital Status: Married, 3 children
Hometown: Bangalore

Small-town jute trader, he founded and chairs GMR Group, infrastructure player headquartered in Bangalore. His GMR Infrastructure built a new airport at Hyderabad and is leading the consortium that is modernizing Delhi's airport and constructing a new terminal in time for the Commonwealth Games in 2010. Cancelled $500 million private placement in July following tepid response from investors. A new GMR-built terminal at Istanbul's Sabiha Gokcen International airport was opened by Turkey's prime minister in October. Also owns 50% of InterGen, a Dutch utility from which it bought Island Power, a private power producer in Singapore, in May. Plans to build an 800 megawatt power plant.

#14 Dilip Shanghvi

The Hindu

Net Worth: $4.1 billion
Age: 54
Marital Status: Married, 2 children
Hometown: Mumbai

Runs Sun Pharma, India's most valuable drug-maker, which he founded 26 years ago. Got traction through 14 acquisitions. Is facing heat: Company's two-year-old bid to acquire Israel's Taro Pharma, a generic drugs maker, for $454 million is still mired in court battles after Taro backed out of the deal last year. In June, inspectors from the US Food & Drug Administration seized drugs from Sun's U.S. subsidiary, alleging deviation from manufacturing practices. In October, it settled a patent battle against Forest Laboratories to make the generic version of an Alzheimer's drug. Sun stock is up 28% since January but well below the 75% rise in Sensex.

#15 Shiv Nadar

The Hindu

Net Worth: $3.7 billion
Age: 64
Marital Status: Married, 1 child
Hometown: Delhi

His $5 billion (revenues) HCL Group, among the top-tier of Indian technology giants, was cofounded by him in 1976. Despite a tough environment overall for tech companies, sales of flagship HCL Technologies got boosted by large orders from key customers like Xerox. But bottom line got hit due to foreign currency hedging losses. He's grooming his daughter Roshni as successor; in April, he appointed her as chief executive of HCL Corporation, the holding company that has stakes in his two listed flagships. The heiress is overseeing the Shiv Nadar Foundation and the rollout of a chain of VidyaGyan schools in Northern India aimed at rural children.

#16 Uday Kotak

The Hindu

Net Worth: $3.3 billion
Age: 50
Marital Status: Married, 2 children
Hometown: Mumbai

Onetime partner of Goldman Sachs, derives fortune from 48% stake in Kotak Mahindra Bank, which he started in 1985 as a small finance firm, with the backing of tractor tycoon Anand Mahindra who lent his name to firm. Bank has 17 million customers and is a leading player in wealth and asset management services. Also has a life insurance joint venture with Old Mutual. Family is biggest shareholder in Business Standard, a daily financial newspaper. Recently set up the Kotak Education Foundation, family's private trust that focusses on educating poor children in and around Mumbai.

#17 Malvinder & Shivinder Singh

The Hindu

Net Worth: $3 billion
Age: 37/34
Marital Status: Married, 3 children/Married, 4 children
Hometown: Delhi

The brothers made a killing selling their 34% stake in generics maker Ranbaxy Laboratories to Japan's Daiichi Sankyo for $2 billion last year; stock down 47% since. Older brother Malvinder (right) continued as chairman and chief executive for several months but stepped down in May, ending family's 48-year reign at company founded by their grandfather. Cash-rich brothers are expanding their interests in healthcare and financial services. In August, their hospital chain Fortis Healthcare, looked after by Shivinder (left), struck deal to buy 10 hospitals for $196 million from beleaguered pharma tycoon Habil Khorakiwala. Financial arm Religare Enterprises has joint ventures with Dutch insurer Aegon for life insurance and with Australia's Macquarie Group for wealth management services. Scouting for a new partner in health insurance after proposed joint venture with Swiss Re fell through.

#18 Subhash Chandra

Indiatodayimages.com

Net Worth: $2.7 billion
Age: 59
Marital Status: Married, 3 children
Hometown: Mumbai

His $2.5 billion (revenues) Essel group owns TV broadcaster Zee Entertainment, run by his eldest son Punit. Other TV interests include Zee News and Veria, a wellness channel in the US. His Dish TV is the country's largest direct-to-home service with 6.2 million subscribers. Group also owns stake in money-losing Diligent Media, which publishes the Daily News & Analysis, rival to the market leader The Times of India, owned by Indu Jain's (No. 19), Bennett, Coleman & Co. His Indian Cricket League is an also-ran to the hugely successful Indian Premier League. Won industry award in November; reportedly said at ceremony that he would like to step down in two years to do socially meaningful things rather than make money.

#19 Indu Jain

Indiatodayimages.com

Net Worth: $2.4 billion
Age: 73
Marital Status: Widowed, 2 children
Hometown: Delhi

The matriarch chairs privately held media conglomerate Bennett, Coleman & Co. Its holdings include The Times of India, a daily newspaper and The Economic Times, a business daily; television channels Times Now, Zoom and ET Now; FM radio network Radio Mirchi and digital media unit Times Internet. Times Private Treaties, group's private equity arm, barters ad space for equity.

#20 Kalanithi Maran

The Hindu

Net Worth: $2.3 billion
Age: 44
Marital Status: Married, 1 child
Hometown: Chennai

Television king of southern India where his Sun TV Network rules. He owns 77% of what is the country's biggest regional broadcaster with 20 television channels and 46 FM radio stations. Interests include Sun Direct, a direct to home television service, co-owned by Malaysia's Astro Group, which has 4.5 million subscribers. His Sun Pictures film production outfit is now shooting a big-budget movie with Rajinikanth and Aishwarya Rai, billed as India's most expensive movie-to-date. His fortune on the rise after patch up with his powerful granduncle M.Karunanidhi, chief minister of the southern state of Tamil Nadu with whom his family had a bitter falling out. Following the rapprochement, his politician brother Dayanidhi, who was forced to resign as communications and IT minister, was reinstalled as minister for textiles after the last federal elections in May.

#21 Anand Burman

Net Worth: $2.25 billion
Age: 57
Marital Status: Married, 2 children
Hometown: Delhi

A trained pharmacist, he's the fifth generation of the Burman clan. Family's 125-year-old consumer goods company Dabur, of which he's non-executive chairman, sells such products as herbal medicines, toiletries, health supplements and fruit juices in 60 countries. Also runs a chain of health and beauty stores called Newu. Dabur's brand ambassadors are top Bollywood movie stars and cricketers. Family's other holdings include a life insurance joint venture with U.K.'s Aviva. Operations of group companies handled by professional managers; family members have no executive role. His cousin Mohit is part owner of Kings XI Punjab, a cricket team.

#22 Brijmohan Lall Munjal

Sipra Das/The India Today Group/Getty Images

Net Worth: $2.2 billion
Age: 86
Marital Status: Married, 4 children
Hometown: Delhi

Patriarch founded Hero Group with brothers prior to India's independence in 1947 as trader and maker of bicycle parts. Today, flagship Hero Honda, a 26-year pairing with Honda Motors, run by son Pawan, is India's leading maker of motorcycles. Its top seller is the $900 Splendor. Sold over one million last quarter and net profits nearly doubled, in part thanks to expansion into rural markets. Stock too has doubled this year, outpacing stock market index. In April it pulled out of a truck venture with Daimler, citing a difficult market. Is reportedly in talks with Malaysia's Proton to make cars.

#23 Sudhir & Samir Mehta

Indiatodayimages.com

Net Worth: $2.02 billion
Age: 55/46
Marital Status: Married, 2 children/Married, 2 children
Hometown: Ahmedabad

Older brother Sudhir (pictured above) joined his father's pharma business in the 1970s and pushed for the diversification into energy. Today family's most valuable asset is a 53% stake in Torrent Power, which distributes to more than 2 million customers annually; its stock has jumped four-fold this year. Samir joined the Torrent Group in 1980s when he was 22. He is more focused on the pharma side, which makes bulk drugs and formulations sold in 50 countries. Sudhir is a cricket fan. Samir plays tennis.

#24 Cyrus Poonawalla

Indiatodayimages.com

Net Worth: $2 billion
Age: 68
Marital Status: Married, 1 child
Hometown: Pune

Son of a stud farm-owner, his Serum Institute of India is among the world's cheapest producers of vaccines. Claims that two-thirds of the world's children in 140 countries have been immunized by Serum, which supplies to global bodies such as UNICEF. The privately-owned firm is one of three Indian vaccine-makers racing to develop a swine-flu vaccine; expects to launch it early next year. In September, he upped stake in Orchid Chemicals, maker of generic antibiotics, to 10% but denied any plans to take over the company. He maintains ties to racing circuit as chairman of the Turf Authorities of India and was recently given the lifetime achievement award by the International Federation of Horse racing Authorities in Paris.

#25 Ramesh Chandra

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Net Worth: $1.95 billion
Age: 70
Marital Status: Married, 2 children
Hometown: Delhi

His Unitech, India's second largest property firm, survived its near-death experience last year when it almost buckled under a mountain of debt and jittery investors battered company's stock price to an all-time low. Since then, company has raised $1.1 billion through a private placement and sale of assets, including a hotel and an office building, to help pay off expensive debt. It also launched Unihomes, a range of low-cost apartments, which boosted sales. Moves helped stock price more than double this year. Its Unitech Wireless, in which Norway's Telenor has 67.25%, recently got a $1.1 billion bank loan to fund its upcoming rollout of mobile phone services under the brand Uninor.