Neville Noronha (also known as Ignatius Navil Noronha) stands as India’s most affluent professional CEO, boasting a net worth of Rs 7,500 crore, according to the latest IIFL Wealth Hurun India Rich List (2022). The non-promoter CEO experienced a 12 percent increase in his wealth during the past year. He is renowned for his instrumental role in the groundbreaking supermarket chain, DMart, which was founded by the esteemed investor and billionaire, Radhakishan Damani.
Noronha has garnered recognition for establishing new benchmarks in the FMCG sector. His visionary mindset and strategic thinking have earned him the reputation of being one of the foremost CEOs. His revolutionary 48-hour supplier payment policy has brought about a paradigm shift in the industry.
Noronha is widely acknowledged as a modest and diligent business leader, having missed just a single day of work since the IPO of Avenue Supermarts. Recently, he acquired one of Mumbai’s most highly valued properties, a luxurious residential space in Bandra (East), complete with ten car parks, for a staggering sum of Rs 70 crore. It is reported that his salary amounts to Rs 4.5 crore, and the majority of his wealth is derived from the significant stake he has accumulated in the listed company over the years.
Having joined D-Mart in 2004 as the head of business, Noronha holds a management degree from the esteemed Narsee Monjee Institute of Management Studies. He shares a connection with coastal Karnataka and is fluent in the Konkani language.
