Nykaa’s Falguni Nayar overtakes Kiran Mazumdar Shaw as the richest self-made Indian woman

• Falguni Nayar is the richest self-made billionaire with a net worth of ₹57,520 crore.
• However, Roshni Nadar Malhotra of HCL Technologies is the wealthiest woman, as per Kotak Private Banking Hurun list.
• Around 25 new women have entered into the list this year, says the report.

It’s beauty over biotech as Falguni Nayar overtook Biocon’s Kiran Mazumdar-Shaw as India’s richest self-made woman with a wealth of ₹57,520 crore, as per Kotak Private Banking Hurun’s list of India’s wealthiest women.

Nayar’s ranking went up nine places in the list, after the company she founded, Nykaa, went public last year.

Roshni Nadar Malhotra of HCL Technologies however retained her title as the wealthiest woman on the list with ₹84,330 crore, for the second year in a row.

Around 25 new women have entered into the list this year, says the report. The report further highlights that the cut-off wealth required to feature in the list has almost tripled since last year to ₹300 crore.

The women on the 2021 list have an average wealth of around ₹4,170 crore as against ₹2,725 crore in the last year.

“Over the years, Indian women are slowly yet surely coming into their own - carving a space for themselves through knowledge, excellence, passion, and empathy,” said Oisharya Das, CEO – private banking, Kotak Mahindra Bank.

The list is based on the net worth of women as on 31 st December, 2021.

More younger women are becoming self-made billionaires

Even though the founder of Biocon, Shaw, was displaced — her sector pharmaceuticals too saw the most number of new entrants, followed by healthcare and consumer goods.

9 out 20 women under the age of 40 years or younger category are self-made, according to the report.

Three professional managers also made it to the list. Pepsico’s Indra Nooyi is the richest professional manager, with a wealth of ₹5,040 crore. And, 33-year-old Kanika Tekriwal of Jetsetgo is the youngest self-made woman.


“Women-led wealth creation directly improves women’s employment, corresponding families, and society. Inclusion of women, who represent 50% of India’s population in the workforce or wealth creation, cuts across societal barriers,” said Anas Rahman Junaid, MD and chief researcher at Hurun India.

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