Karsanbhai Patel net worth
Current Net Worth – $3.7 Billion (USD – 370 Crores), (Rupees – 30,966 Crores)
Karsanbhai Patel short biography
| Net Worth | $3.7 Billion |
|---|---|
| Born | 1945 (Age – 78-79) |
| Identified as | Founder of Nirma Group |
| Status | Indian Businessman |
| Education | Bachelor in Science in Chemistry |
| Nationality | Indian |
| Residence | Ahmedabad, India |
| Spousal status | Married |
| Children | 3 |
CR Karsanbhai Patel has a net worth of $3.7 Billion (USD – 370 Crores), (Rupees – 30,966 Crores), making him one of India’s top 100 richest men.
He is the founder of the Nirma Group, a corporation with significant interests in cosmetics, detergents, cement, and soaps.
He has created a top pharmacy school Nirma Institute of Pharmacy as well as a top engineering school.
In July 2020, his cement firm, Nuvoco Vistas, completed the $730 million purchase of Emami Cement.
Nirma is also one of the world’s leading soda ash suppliers in terms of production.
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Karsanbhai Patel biography
| Full Name | CR Karsanbhai Patel |
| Birthplace | Mehsana, Gujarat |
| Height | 5.5 feet, 167 cm |
| Weight | 70 Kg |
| Father | N/A |
| Mother | N/A |
Karsanbhai was born in 1945 into a farmer family in north Gujarat.
He had worked as a lab technician with two firms, first with the Lalbhai group’s New Cotton Mills in Ahmedabad and then for the state government’s Geology and Mining Department.
Education
He completed his B.Sc. in Chemistry at the age of 21.
Career
Karsanbhai began selling detergent powder, which he produced and packaged in his backyard, in 1969.
This was a one-man operation that operated after hours. Karsanbhai would ride around the neighborhood selling handcrafted detergent packets to passers-by.
Karsanbhai established the Nirma Institute of Technology in Ahmedabad in 1995, and it has since grown to become a leading engineering college in Gujarat.
Nirma has a 20% market share in soap cakes and around a 35% market share in detergents. Nirma also has a large presence in neighboring countries.
The detergent’s high quality and low price made it a perfect purchase. Thanks to housewife-friendly commercial jingles, Nirma revolutionized the detergent industry, establishing an entirely new niche in the market for detergent powder.
Nirma joined the premium segment after establishing its leadership in economy-priced detergents, launching toilet soaps Nirma beauty and Nirma bath soap, as well as premium detergent Super Nirma detergent.
Nirma became India’s best-selling detergent within a decade.
It was even more environmentally friendly since it was made without any phosphates.
The Nirma University of Science and Technology, supervised by the Nirma Education and Research Foundation, was established in 2003, and the entire system was consolidated under the Nirma University of Science and Technology in 2003.
In 2004, the Nirmalabs education project, which aims to train and incubate entrepreneurs, was launched.
His low-cost Nirma detergent started a detergent battle with larger competitors including Unilever and Procter & Gamble.
Rakesh K Patel (MBA) is in charge of procurement and logistics, Hiren K Patel (MBA) is in charge of marketing and finance, and Kalpesh Patel is in charge of human resources and the healthcare industry (Nirlife healthcare).
Patel has long since passed the business on to the next generation, and in 2012, he took the company private.
Private & early life
It was an immediate hit at Rs. 3 per kg it was one-third of the price of leading detergents.
Karsanbhai named his detergent soap Nirma after his daughter’s name.
He felt secure enough to quit his job after three years.
In Gujarat and Maharashtra, the Nirma brand rapidly became well-known.
Karsanbhai’s two sons, daughter, and son-in-law have all risen through the ranks of Nirma.
On June 7, 2013, it was also reported that he had purchased a six-seater chopper for 40 crores. Karsanbhai is the third Ahmedabad-based industrialist to purchase a chopper, following Adani Group chairman Gautam Adani and Zydus Group promoter Pankaj Patel.
Awards
He won the ‘Udyog Ratna’ award from the Federation of Association of Small Scale Industries of India (FASII), New Delhi, in 1990.
Karsanbhai received an honorary doctorate from Florida Atlantic University in 2001 for his outstanding entrepreneurial and philanthropic achievements.
For the year 2010, Patel won the Padma Shri Award. Mrs. Pratibha Patil, the President of India, presented the award formally.
Karsanbhai was ranked #38 on Forbes magazine’s list of India’s wealthiest people ($640 million) in 2017.
Karsanbhai was ranked #30 on Forbes magazine’s list of India’s wealthiest people in 2019 (3.9 billion dollars).
Net worth statistics
- March 2016 – $1.6 B
- March 2017 – $2.6 B
- March 2018 – $3.6 B
- March 2019 – $4.7 B
- April 2020 – $3.1 B
- April 2021 – $3.8 B
- April 2022 – $2.9 B
- April 2023 – $2.7 B
- April 2024 – $3.4 B
Karsanbhai Patel Quote
“Why are our inner lives so important? One reason is because our thoughts determine our actions.”
– Karsanbhai Patel
