India’s businesswomen and entrepreneurs recently made history at the release of the M3M Hurun Rich List 2025 on Wednesday. As per the annual report published by the Hurun Research Institute, which tracks the wealth and assets of India’s most affluent groups and families, India’s businesswomen made history this week by featuring in the top spot of the Hurun India rich list for the very first time.
Roshni Nadar Malhotra (44) & family debut in the Top 3 with a wealth of Rs 2.84 lakh crore, becoming India’s richest woman and securing third place on the M3M Hurun India Rich List 2025 behind Mukesh Ambani and Gautam Adani. Roshni Nadar is also the youngest person to book their spot in the top 10 of the main Hurun rich list.
Coming down to India’s self-made women millionaires, Jayshree Ullal led the list boasting a wealth of Rs 50,170 crore followed by Radha Vembu of Zoho with Rs 46,580 crore. Falguni Nayar of Nykaa ranked third with Rs 39,810 crore. In entertainment and sports, Juhi Chawla & family feature with Rs 7,790 Cr through Knight Riders Sports, while Neha Bansal of Lenskart follows at Rs 5,640 Cr.
Here are the top 10 self-made women millionaires of India
1) Jayshree Ullal
Jayshree Ullal, President & CEO of Arista Networks, leads the list with a net worth of Rs 50,170 Crore. The president and CEO of Arista Networks, Jayshree Ullal, has been managing one of India’s premier computer networking firms since 2008. Arista Networks, the publicly traded company, recorded a whopping revenue of 7 billion dollars last year, witnessing a spike of 20 per cent from the previous year.
Ullal previously served at Cisco Systems, semiconductor firm Advanced Micro Devices and Fairchild Semiconductor, according to Forbes.
She also features on the board of directors of Snowflake, a cloud computing company that went public five years ago. Ullal owns approximately 3 per cent of Arista’s stock, some of which is earmarked for her two children, niece and nephew.
2) Radha Vembu
2nd in the list, Radha Vembu owns a majority stake in the privately held Zoho Corp, which offers business software on the cloud. Zoho was cofounded by her elder brother Sridhar Vembu, who initially started the business as AdventNet in 1996. As per Hurun’s calculations, Radha presently has a net worth of Rs 46,580 crore.
Zoho recently also launched an app called Arattai. Arattai is a ‘Made in India’ messaging app developed by Zoho Corporation as an alternative to platforms like WhatsApp.Vembu is a graduate in industrial management from IIT Madras. Zoho’s founder, Sridhar Vembu, stepped down as CEO in February this year and started serving as the chief scientist.
3. Falguni Nayar
The founder of Nykaa, a giant retailer of beauty products, Falguni Nayar occupies the third spot in the list. Nayar started Nykaa in 2022 after she quit her job as an investment banker. Nykaa, which means “one in the spotlight,” sells thousands of brands online as well through nearly 200 stores across India. As per Hurun’s calculations, Nayar currently has a net worth of Rs 39,810 crore. Nykaa’s primary investors include US private equity giant TPG Growth and billionaires Harsh Mariwala and Harry Banga.
4. Kiran Mazumdar-Shaw
Kiran Mazumdar-Shaw of Biocon secures the fourth spot with Rs 29,330 Cr, continuing her legacy as a pioneer in India’s biotech and healthcare sectors. A first-generation entrepreneur and global business leader with over 4 decades of experience in biotechnology, Shaw started her biotech journey in 1978 from her garage in India. She is the executive chairperson of Biocon Limited and Biocon Biologics Limited and has an estimated net worth of 29,330 Crore
5. Ruchi Kalra
Co-founder and CEO of OfBusiness, a B2B commerce platform providing raw materials and credits, Karla follows Shaw on the list. Before co-founding OfBusiness, Kalra served as a consultant at McKinsey. She graduated from Delhi University before earning her MBA from ISB Hyderabad and presently has a net worth of Rs 9,130 crore.
6. Juhi Chawla
One of most iconic stars of the 90s era of ‘Hindi-Cinema’ or Bollywood, Juhi Chawla today rests on a diversified empire of business ventures, real estate, and strategic investments. Through these projects Chawla has built a staggering net worth of Rs 7,790 crore.
Juhi Chawla and family witnessed a 69% jump in their wealth compared to last year, propelling them to the top among female actors. A major portion of her earnings comes from Knight Riders Sports, making her one of the most financially successful film stars outside of cinema. She is second only to Shah Rukh Khan, the richest Indian actor with a fortune of Rs 12,490 crore.
7. Neha Bansal
Co-founder of Lenskart, Neha Bansal currently leads the merchandising and legal functions in the company. Prior to starting Lenskart, Bansal served as the director of DNS Advisors Private Limited from 2010 to 2014. Born and brought up in Delhi, Neha completed her schooling and graduation in BCom Honours and presently boasts a net worth of Rs 5,640 crore.
8. Indra Nooyi
After serving PepsiCo for 24 years, Indra Nooyi, former chair and CEO of the company retired in 2019. As the CEO, she managed to nearly double sales and introduced healthier products and environmentally friendly practices during her tenure at the firm. Nooyi further amassed wealth from stock she was granted while working at PepsiCo.
After retiring from PepsiCo, Nooyi joined the board of Amazon in 2019 and the global advisory board of Deutsche Bank in Along with her positions at Amazon and Deutsche Bank, Nooyi also occupies a position at the CEO Advisory Council of AI-powered data security and management startup Cohesity in 2023. Nooyi grew up in India and got an MBA from Yale. The former CEO of PepsiCo presently has a net worth of Rs 5,130 Crore.
9. Neha Narkhede
Co-founder and former CTO of Confluent, a streaming data technology firm, Neha co-created the open source software platform Apache Kafka and now serves as a board member of Confluent. Before that, she had co-founded risk detection platform developer, Oscilar in 2021 and in the previous year, she was listed as one of America’s Self-Made Women by Forbes.
She was raised in Pune, Maharashtra and went to Pune Institute of Computer Technology (PICT), University of Pune and currently has a net worth of Rs 4,160 Crore.
10. Kavitha Subramanian
Co-founder of UpStox, an Indian online investment platform, Kavitha occupies the last spot in the top 10 of India’s richest women entrepreneurs list. Prior to starting UpStox, Kavitha served as the Associate Director of LeapFrog Investments from 2015 to 2016 and worked at Actis, SKS Microfinance Limited. An alumna of IIT Bombay, she is an MBA graduate from The Wharton School, Kavitha presently has a net worth of Rs 3,840 Crore.