Deepinder Goyal Climbs to 2nd in Hurun’s Self-Made Tycoons List!

Hurun List 2024: Can Deepinder Goyal’s Zomato sustain its meteoric 190% growth

Zomato’s CEO, Deepinder Goyal has received the ranking of India’s second biggest self-made entrepreneur at IDFC FIRST Private & Hurun India’s richest self-made entrepreneurs of millennium 2024.  It comes after Goyal’s company valuation has risen to Rs 2.51 lakh crore, an astonishing 190% rise. The food delivery sector’s largest rise is what Zomato belabours with a remark that they are taking their food delivery business to go global. 

At the third spot is Swiggy co-founders Sriharsha Majety and Nandan Reddy whose turnover in March stood at ₹1.01 lakh crore after the public listing of the company earlier this year, a 52% growth.

Radhakishan Damani Retains Top Spot

Radhakishan Damani, founder of Avenue Supermarts, continues to lead the chart of the IDFC FIRST Private & Hurun India’s Top 200 Self-made Entrepreneurs of the Millennia 2024. His company, DMart, was valued at ₹3.4 lakh crore (a 44% increase from the previous year). Best known for propelling India’s retail landscape, Damani’s flagship business remains a touchstone of strategic expansion and operational of 
strategic expansion and operational efficiency

New Entrants and Women Entrepreneurs Make Their Mark

New entrants to the list included Policybazaar’s Yashish Dahiya, Alok Bansal and Alok Bansal, whose company’s valuation surged to ₹78,600 crore last year, a 128% increase over the previous year. On the 10th spot is Founder Falguni Nayar of Nykaa, who tops the list of highest company valued amongst women entrepreneurs with a company value of ₹56,600 crore.

Nayar also suggests the growing importance of women entrepreneurs, with 19 of them ranking in the top 25. According to Hurun India, ‘The growing vision of women founders mirrors a move towards a more inclusive entrepreneurial leadership in India.’

Hurun List 2024: Will Deepinder Goyal’s Zomato Sustain its Meteoric 190% Growth?

In India’s growing entrepreneurial ecosystem, Zomato’s stupendous growth in valuation is making rounds. But analysts wonder if the company can keep up this pace. Its future course will largely depend on its diversification into quick commerce and its global expansion exposures. According to Hurun India, “Zomato’s resilience in a competitive market has set an example for emerging entrepreneurs, but maintaining momentum will require continued innovation.”

Industry Insights and Economic Impact

The Hurun List of 200 entrepreneurs totals companies worth ₹36 lakh crore ($431 billion) and employs more than a million people. As per this report, Bengalururemainss is the hub for self-made entrepreneurs as 66 companies are headquartered there while Mumbai and Gurugram follow in that order.

Additionally, post 2020, companies have generated Rs 69,400 crore worth of combined valuation, and are marked by young entrepreneurs like Kaivalya Vohra of Zepto with a staggering 259% valuation increase. Vohra’s win is an omen of how fast India has been heady in transforming itself into a tech ecosystem, the most important being fast commerce and fintech.
The Hurun List 2024 is not just about individual victories, but about the dynamism of India’s economy, innovation, resilience, and the dynamism of the entrepreneurial ecosystem.