Tuesday, September 13, 2016

It’s Official, Nepal-Born Acharya Balakrishna Is Now One Of The Richest Men In India!

Whenever we talk about Patanjali, we automatically think of Baba Ramdev as he has become the face of this empire, but it might not be known to many people that as much as 94 percent of this fastest growing FMCG brand in India is owned by Acharya Balakrishna. According to Credit Lyonnais Securities Asia (CLSA) and HSBC Holdings, the company that is known for its wide range of herbal products is valued at $450 million, with earning revenues of $740 million.

And that’s how the principle stakeholder and the managing director at Patanjali Ayurvedic, Balakrishna has made it to the prestigious Harun India Rich List 2016, finishing at the 26th place out of 339 individuals in India having INR 1600 crore. His total net fortunes is estimated around INR 25,600 crore (around $3.8 billion).

“Yoga Acharya’s Patanjali took the market by storm and is eating away market share of other multinational FMCGs. Patanjali registered a turnover or Rs. 5000 crore and expects to hit Rs. 10,000 crore in 2017”, says Hurun India Rich List Report. The Hurun Report is a research unit based in China which annually publishes China Rich List. In 2012, the company started its operations in India as well.

Born to Nepalese parents Jay Vallabh and Sumita Devi in Nepal, Balkrishna had met Baba Ramdev at a gurukul in Haryana. Later in 1990s, the two founded an ayurvedic pharmaceutical company named Divya Pharmacy in Haridwar. The 44-year-old had to take a personal loan of Rs. 50-60 crore from banks to start Patanjali. He claims that he didn’t own any bank account in his name before that.

It’s quite surprising that Acharya Balakrishna is three times richer than Chaudhary Group founder Binod Chaudhary, the only billionaire in Nepal, whose total net worth according to Forbes is $1.23 billion.

The post It’s Official, Nepal-Born Acharya Balakrishna Is Now One Of The Richest Men In India! appeared first on NeoStuffs.

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