Kotak Wealth Management – a division of Kotak Mahindra Bank (Kotak), and Hurun Report India launched the ‘Kotak Wealth Hurun – Leading Wealthy Women 2018’, a compilation of the wealthiest women in India, at Mumbai on Monday. The list has been compiled on the basis of net worth of women as on 30th June, 2018. The average wealth of the women in this list is about Rs 4,000 crore. The threshold for this ranking is above Rs 1,000 crore.
“It gives me great delight to partner with Kotak Wealth, the leading wealth management firm in India, to launch the first report on India’s wealthiest women. The women in the Hurun India Rich List have increased from 4% in 2012 to 9% in 2017. With India’s thriving consumer spending and a maturing tech ecosystem, we expect more women to lead the entrepreneurship story in India,” said Anas Rahman Junaid, MD and Chief Researcher, Hurun Report India.
Jaideep Hansraj, CEO, Wealth Management & Priority Banking, Kotak Mahindra Bank said, “We are pleased to partner with Hurun Report India to publish the first-ever ranking of India’s wealthiest women. The ranking recognises India’s leading women – entrepreneurs, businesswomen, investors and inheritors. We are seeing a significant change with more and more women taking advantage of increasing opportunities to become active participants in business. The report acknowledges the Indian woman’s role in creating wealth in one of the fastest growing economies in the world.”
The Kotak Wealth Hurun – Leading Wealthy Women 2018 has been researched and compiled by Hurun Report on the basis of net worth of women as on 30th June, 2018 when the rate of exchange to the US dollar was Rs 68.47. The list relates to Indians only, defined as born or brought up in India.
Valuing the wealth of India’s richest is as much an art as it is a science. Sure, Hurun Report has missed some, but our endeavour has been to develop the most comprehensive report of its kind with an objective to identify and acknowledge India’s top women investors, entrepreneurs and business owners. The source of wealth includes both inherited and self-made wealth. Hurun Report’s team of researchers have travelled the length and breadth of the country, cross-checking information with entrepreneurs, industry experts, journalists, bankers and all possible sources of information. For unlisted companies, Hurun Report’s valuation is based on a comparison with their listed equivalents using prevailing industry multiples such as Price to Earnings, Price to Sales, EV to Sales, EV to EBITDA and also other methodologies including Discounted Cash Flow, Tobin’s Q and so on. In certain cases of early stage companies, Hurun Report has used First Chicago Method for valuation.
