The CEO of Avenue Supermarts

Ignatius Navil Noronha | The CEO of Avenue Supermarts

Ignatius Navil Noronha | The CEO of Avenue Supermarts

 

Ignatius Navil Noronha, despite not being a business owner, possesses a net worth that exceeds many business tycoons and celebrities, including film stars and sporting icons.

He holds the distinction of being India’s wealthiest manager and professional CEO, with a net worth of Rs 6,500 crore, as per the most recent IIFL Wealth Hurun India Rich List.

Over the past year, his wealth has seen a 12 per cent increase. Noronha is the brilliant mind behind the revolutionary DMart supermarket chain, founded by renowned investor and billionaire Radhakishan Damani.

Although he maintains a low profile, Noronha is highly regarded for his exceptional contributions to the FMCG sector, setting new standards in the industry.

Despite not starting a successful business himself, he is hailed as a visionary and one of the top CEOs due to his strategic genius.

One of his notable achievements is the implementation of an innovative 48-hour supplier payment policy, which brought about a significant change in the game.

Noronha is known for his humility and dedication, having missed only one day of work since the IPO of Avenue Supermarts.

Recently, he made a noteworthy purchase of a luxurious residential property in Mumbai’s Bandra (East) area, paying Rs 70 crore for a lavish space that includes 10 car parking spaces.

It is reported that his salary amounts to Rs 4.5 crore, and a substantial portion of his wealth comes from the significant stake he has accumulated in the publicly listed company over the

years.

 

Ignatius Navil Noronha Education

 

Ignatius, obtained his bachelor’s degree from SIES College of Commerce & Economics and his master’s degree from Narsee Monjee Institute of Management Studies.

The company Avenue E-Commerce Ltd. could be rephrased as “the organization known as Avenue E-Commerce Ltd.” or “the company named Avenue E-Commerce Ltd.”

 

Ignatius Navil Noronha Wife

 

Ignatius, the CEO of Avenue Supermarts, the company behind the DMart retail chain, along with his wife Kajal Noronha, recently acquired two luxurious apartments in Mumbai’s Bandra area for a total amount exceeding Rs 66.25 crores.

These apartments, covering a combined area of 8,379 square feet, were purchased from Keystone Realtors, a subsidiary of real estate developer Rustomjee Group.

The apartments are located in Rustomjee Seasons, a project situated in the Bandra (East) neighbourhood, which is in close proximity to Mumbai’s bustling business district of Bandra.

 

Family

 

Ignatius, is happily married to Kajal Noronha, and together, they form a loving and supportive couple.

Their marriage is a testament to their strong bond and shared commitment to each other.

As partners in life, they navigate the ups and downs together, offering mutual support and companionship.

Kajal Noronha’s presence in Ignatius’ life is a source of joy and stability, creating a harmonious home environment.

Their partnership is built on trust, love, and shared values, making them a formidable team both personally and professionally.

 

Net Worth

 

Ignatius, the CEO of Avenue Supermarts, achieved billionaire status on Monday as the company’s shares surged by over 10 per cent.

In the wake of the retailer’s impressive second-quarter results, the stock reached an all-time high of Rs 5,899.90. This surge in share value resulted in Noronha’s 2.02 per cent stake in the company is valued at Rs 7,720 crore.

 

Ignatius Navil Noronha Religion

 

Ignatius, hailing from Mumbai, was born and raised in a Christian household. Growing up in the vibrant city, he embraced his Christian upbringing and values, which have played a significant role in shaping his life and guiding his actions.

 

Ignatius Navil Noronha House

 

Ignatius,  made headlines in the real estate industry of Mumbai with the purchase of a prestigious home in Bandra.

This high-profile transaction stands out as one of the largest and most notable deals in the city’s real estate market. The specifics of the property, such as its size, amenities, and location, were not disclosed in the available information.

 

FAQs

 

Who is Ignatius Navil Noronha?
Ignatius Navil Noronha is the CEO of Avenue Supermarts, the company behind the DMart retail chain. He is known for his exceptional contributions to the FMCG sector and his strategic genius.

What is Ignatius Navil Noronha’s net worth?
As per the most recent information, Ignatius Navil Noronha has a net worth of Rs 6,500 crore.

How did Ignatius Navil Noronha accumulate his wealth?
A significant portion of Ignatius Navil Noronha’s wealth comes from the substantial stake he has accumulated in the publicly listed company, Avenue Supermarts, over the years. His salary and other investments also contribute to his net worth.

What is Ignatius Navil Noronha’s educational background?
Ignatius, obtained his bachelor’s degree from SIES College of Commerce & Economics and his master’s degree from Narsee Monjee Institute of Management Studies.

Is Ignatius Navil Noronha married?
Yes, Ignatius Navil Noronha is married to Kajal Noronha.

What is Ignatius Navil Noronha’s contribution to the FMCG sector?
Ignatius Navil Noronha is highly regarded for his exceptional contributions to the FMCG sector. He is known for setting new standards in the industry and implementing innovative strategies, such as the 48-hour supplier payment policy.

What is Ignatius Navil Noronha’s recent notable purchase?
Ignatius, recently purchased a luxurious residential property in Mumbai’s Bandra (East) area for Rs 70 crore. The property includes 10 car parking spaces.

Is Ignatius Navil Noronha a celebrity or a businessman?
Ignatius, is neither a celebrity nor a business owner. He is a professional CEO and manager who has achieved significant success in his field.

What is Ignatius Navil Noronha’s salary?
According to the available information, Ignatius Navil Noronha’s salary is reported to be Rs 4.5 crore.

What is Ignatius Navil Noronha’s stake in Avenue Supermarts?
As per the most recent information, Ignatius Navil Noronha’s stake in Avenue Supermarts is valued at Rs 7,720 crore, contributing to his net worth

 

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