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Vidya and Narendra Murkumbi Renuka Sugars in Forbes India rich list

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The mother son duo is ranked 93rd in its recent 2009 Forbes India rich list.

According to the list, Ms. Murkumbi along with her son Narendra Murkumbi, has a net worth of $490 million.

Vidya & Narendra Murkumbi
Vidya & Narendra Murkumbi
Bella Vista Belagavi

India’s Richest

#93 Vidya and Narendra Murkumbi

Net Worth: $490 million

Age: 60/40

Marital Status: Widow, 2 children/Married, 2 children

Hometown: Mumbai/Belgaum

Low profile mother-son pair run Shree Renuka Sugars, among country’s fastest growing sugar companies. Its sugar refining capacity of 4,000 tonnes per day is India’s largest. Got started when they bought a money-losing sugar mill in 1998. Paid for it with loans and by persuading sugarcane farmers in the area where the mill was located to buy shares in the company. Thereafter, they acquired other ailing sugar refineries and turned them around. Currently own three refineries. Took company public in 2005. Recently bought a Brazilian sugar company for $82 million. Also produce ethanol and power from bagasse, a by-product of sugar. Mother Vidya lives in Belgaum near the sugar mill. Son Narendra lives in Mumbai.

Vidya & Narendra Murkumbi at the IPO launch of Shree Renuka Sugars
Vidya & Narendra Murkumbi at the IPO launch of Shree Renuka Sugars

According to Forbes, India is now home to as many as 52 billionaires, nearly double from 27 last November and just shy of a record of 54 in 2007 at the peak of stock market boom.

The India’s richest list is topped by industrialist Mukesh Ambani who has a staggering wealth of $32 billion. Steel tycoon Lakshmi Mittal and Anil Ambani, cornered the second and third position with a fortune of $30 billion and $17.5 billion respectively, the magazine said.

Source: Forbes.com

It feels great to see a Belgaumite in India’s Rich List, India we have many more to come in that list.

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15 COMMENTS

  1. Mdam i am your fan . I have to visit your projects and also you. I am proper of belgaum but by born to now live in Kolhapur. My name is Prasad Narayan Kanbarkar now doing a b.com. If it is possible reply me madam

  2. i am the fan Murkumbi madam, i read their article in ANUBHAV periodicle, I like this article. I am become fan at that time.
    PRASAD KANBARKAR

  3. We are developing a product related to SUGAR CANE for mass consumption at global level and it is in final stage and hope to be successful in about couple of months or so. Once the product is established after our intense research work, to make it for the reach of general public ,we need large manufacturing / processing unit and a big marketing net-work with initial intense advertisements,to enable product to spread across the NATION and extend to GLOBAL level within a short period, and it will yield high returns with in reasonably short period and will become very big one for a very long period to come. We hope M/S Shree Renuka Sugars could support us with their Valuable Strength for mutual benefit and growth.
    Awaiting for their kind acknowledgement and positive response at the earliest.

    Thanks & Regards
    Ramaiah setty
    Bangalore
    Contact Number: 09743829121

  4. What are the CSR activities you are supporting ?
    I live in Ahmedabad but could meet you in Mumbai between 11th and 13th February with an interesting socially beneficial proposal for your consideration, Mr Narendra.
    I was member of the IIMA Governing Board during your student days. I am 81 + but active.
    Iyer

  5. Yes Zuari Agro is planing to build a new plant of fertilizer with 900 crores of investment , they have sent the proposal to CM BSY, they are waiting for gas pipline linkage for this plant , it will bebased some whare near Khanapur and Belgaum , but at the mercy of Karnataka goverenment , on the probablility of assurance of gas supply and bulk storage and transmission station at Belgaum since all the three comapnies HP/IOC/And BP Divisional office is based in Belgaum , wish things work out better soon

  6. Congratulations! Vidya and Narendra Murkumbi.

    Are their any upcoming new projects in Belgaum from Shree Renuka Sugars in context of their recent overseas acquisition that can boost the Belgaum economy & enhance the capability?

  7. Yes, definitely Arvind Melligri will be next Millionaire from Belgaum….I wish all the best to him and their organization and hope they will come up with new projects in Belgaum or attract other Biggies to Our wonderful city….

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