BillionaireNet
Patel
Karsanbhai Patel
Rank #1114
INDIAFood & BeverageConsumer goods, cement

Karsanbhai Patel

Net Worth
$3.643B
+0.09% (24h)
Karsanbhai Patel, born in 1945, is an Indian industrialist and philanthropist. He is the founder of the Nirma Group, a multinational conglomerate. His estimated net worth is $6.05 billion. Patel's career began as a lab technician. He then revolutionized the Indian detergent market with the affordable Nirma detergent. His business interests include cement, detergents, soaps, cosmetics, and education. Patel is also the founder of Nirma University, showcasing his commitment to philanthropy and education. His contributions have earned him several awards, including the Padma Shri.

The Full Dossier

Early Life

Karsanbhai Khodidas Patel was born in 1945 in Ruppur, Gujarat, India, to a farming family. He completed his B.Sc. in Chemistry at the age of 21. He started his career as a lab technician at New Cotton Mills in Ahmedabad and later worked at the Gujarat government's Geology and Mining Department.

Rise to Success

In 1969, Karsanbhai Patel began manufacturing detergent powder in his backyard. He sold the product door-to-door, pricing it significantly lower than competitors. He named his detergent "Nirma" after his daughter, Nirupama. This strategy quickly gained popularity, making Nirma a household name and revolutionizing the Indian detergent market. Karsanbhai Patel left his job and set up shop in Ahmedabad.

Key Business Strategies

Key to Nirma's success was the low-cost, high-quality approach, making detergents accessible to the masses. Nirma expanded its product range to include soaps, cosmetics, and salt. The company also ventured into industrial chemicals and cement, diversifying its revenue streams. Patel focused on relatable advertising and grassroots marketing to build brand recognition.

Philanthropy

Karsanbhai Patel is involved in philanthropy, particularly in education. He founded the Nirma Education and Research Foundation (NERF) in 1995. This led to the creation of Nirma University in Ahmedabad. He has supported rural development, healthcare, and social welfare through the Nirma Memorial Trust and other foundations.

Career Timeline

2010

Padma Shri Award

Conferred with the Padma Shri by the President of India.

2001

Honorary Doctorate

Awarded an honorary doctorate by Florida Atlantic University.

1995

Founded Nirma Institute of Technology

Established an engineering college in Ahmedabad.

1990

Udyog Ratna Award

Awarded by the Federation of Association of Small Scale Industries of India (FASII).

1980

Incorporated Nirma Ltd.

Formal incorporation of Nirma Ltd.

1969

Founded Nirma

Started manufacturing and selling detergent powder.

Philanthropic Impact

EducationUndisclosed

Nirma Education and Research Foundation

Supports various educational institutes including Nirma University.

Social WelfareUndisclosed

Nirma Memorial Trust

Supports rural development, healthcare, and social welfare.

Wealth Trajectory