Radhakishan Damani, who entered the retail market after investing in 2002, recently bought a luxurious house in Mumbai for Rs 1001 crore. His company D-Mart is today one of the most successful retail market companies in the country.
Radhakishan Damani, a stock market investor and promoter of D-Mart.
Radhakishan Damani, who has become a businessman by a successful investor, is in discussion about his new purchase. A document filed by him in the registration and stamp department of the Maharashtra government has revealed that he, along with his brother Gopikishan Damani, has bought a property worth Rs 1001 crore in Malabar Hill, Mumbai. This very luxurious house is spread over 5,752 square meters.
This property has been registered on March 31. Today, RK Damani, who bought one of the most expensive properties in the country, once worked at a ball-bearing shop. Today we are going to tell about his journey, how he changed his life after his father’s death and today he is one of the biggest investors and businessmen of the country.
After the death of his father, he decided to enter the stock market.
Radhakishan Damani, who is always away from the world of media and headlines, is also called ‘Mr. White and White’ by many people. Actually, he mostly wears white shirt and white pants. In the early days, he did not get much work while working at the ball-bearing shop. Damani, who comes from a Marwari family, decided to learn the tricks of investing in the stock market after the death of his father, along with his brother. Today, he is also known for his special investment strategy.
D-Mart debuted in 2002
Damani raised crores of rupees capital from the stock market in the 90s itself. Only last year, his wealth had increased so much that he had sat on the chair of the second richest person in the country after Mukesh Ambani. In 2002, Damani, who had made bets in the stock market for a long time, announced his foray into the retail market. The retail business of Damani, which opened its first retail store in Mumbai, has grown at a rapid pace.
Damani, who has long wanted to enter the retail market, launched D-Mart with very accurate and accurate planning. D-Mart’s IPO was launched in March 2017 itself. This IPO was launched by D-Mart’s parent company ‘Avenue Supermarts’. Stocks of this company, offering Rs 299 per share, were listed at Rs 604. On Friday, Avenue Supermarts had a stock price of Rs 2,910 per share.
The income of the company is 25 thousand crores
The data available till December 2019 shows that this company has a total of 214 stores in 71 cities in 11 states of the country. These states are Maharashtra, Andhra Pradesh, Telangana, Gujarat, Madhya Pradesh, Chhattisgarh, Rajasthan, Delhi-NCR, Tamil Nadu, Karnataka, Daman and Diu, and Punjab. D-Mart’s total income was around Rs 25 thousand crore in the March 2020 quarter.
Cheap price, high profit formula
D-Mart has become a company which not only provides benefits to its investors, but also provides daily items to customers at a very economical rate. The revenue of this company remains tremendous even after providing goods at a very low price to the common people.
D-Mart has a special strategy behind this. Every store at D-Mart is in a place where a large number of people visit. On an average, 1000 people visit these stores everyday. In the festive season, it increases by 10 to 15 times. This company opens stores on the store ownership model. Under this, the company would buy its own land or take it on lease for 15 to 20 years. This does not cost them a hefty fare.
D-Mart has a long list of such companies from where it sells products. D-Mart also charges slotting fees from these companies for selling their products. It also promotes local brands. The company sells goods to its customers at a lower rate than other retail outlets. This leads to maximum sales.
Also read: Who is Radhakishan Damani… who built 1 lakh crores overnight with one idea… now bought 1001 crores bungalow
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