Hurun India has released its list of the top 10 richest people in India, and it also includes the top ten businessmen from Surat. One name that stands out is Dr Faruk Patel, known as the “Solar King” of the KP Group. In 1994, the son of a bus conductor started his business journey with a capital of just Rs 100,000 under the name KP Group. Through relentless effort, innovation, and strong management, Dr Patel has made KP Group one of the top five businesses in Surat. With a net worth of £970 mn, Dr Patel has now become the second richest businessman in Surat.
Surat is home to 28 billionaires. Leading the pack among the top ten is Ashwin Desai of Aether Industries with a net worth of £1.07 bn. Dr Patel, with his companies KPI Green Energy, KP Energy, and KP Green Engineering, has made significant strides in the renewable energy sector. These companies have a combined market capitalization of over £1.8 bn. They have installed 473 MW of solar power and have 2.33 GW of orders in the pipeline. In the wind energy sector, they have completed 840 MW projects, with 1009 MW orders pending.
In March 2024, Dr Patel's third company, KP Green Engineering, launched the country’s largest IPO of £18.95 mn on the BSE’s MSE platform. KP Green is currently building Asia’s largest galvanizing kettle at a new plant in Matar village. Additionally, Dr Patel’s company owns Gujarat’s largest private solar park and holds the record for installing the first seven wind turbines in South Gujarat. He is also recognized as the largest individual taxpayer in Surat.
Other top business tycoons from Surat in the list include: Niraj Choksi of NJ Indiana with £960 mn;
Babu Tathi of Kiran James & Family with £740 mn; Govindbhai Dholakia of Shree Ramakrishna Export with £610 mn; Jayantilal Jariwala of ColorTex Industries with £530 mn; Savjibhai Dholakia of Harikrishna Export with £370 mn; Laljibhai Patel & Family of Dharmanandan Diamonds with £ 360 mn; Tulsi Dholakia of Harikrishna Export with £310 mn; Varsambhai Narola & Family of Shree Ramakrishna Exports with assets worth £310 mn.
