Atul Ruia is the chairman at The Phoenix Mills Limited. He made his debut on the Forbes list of billionaires in 2023. With his hard work and dedication, Atul Ruia managed to revive his family that was going through a major loss. He converted the ailing textile empire into a major real estate player with interests in retail, hospitality, commercial, and residential.
Atul Ruia’s career
Atul Ruia has a vision and knew how to run a business. Established in 1905 in Mumbai to manufacture cotton textiles, The Phoenix Mills now has malls across India in cities like Mumbai, Pune, Ahmedabad, Indore, Lucknow, Chennai, and Bangalore.
Atul Ruia’s company also has hotels like the St Regis Mumbai and Courtyard Marriott Agra. Atul Ruia retired as the Managing Director of Phoenix Mills In December 2019. He is now the Chairman.
In 1992, Atul Ruia decided to take over the family business and converted the struggling textile business into a retail-led real estate giant. By the late 90s, brands started working in full swing and we witnessed India’s first bowling alley and sports bar by the late 1990s.
In 2007, Phoenix tied up with Shangri-La Hotels and Resorts to run a five-star hotel for them in the Phoenix Mills compound. It and got divided into Palladium and Grand Galleria. Phoenix Mills became the most sought-after retail space in Mumbai.
Atul Ruia’s education
Atul Ruia went to the University of Pennsylvania in the United States at the Wharton School.
Atul Ruia’s assets
In 2021, the billionaire purchased a lavish apartment on the 26th floor of the compound for Rs 32.8 crore. For the unversed, his company has developed over 17.5 million square feet of real estate.
Atul Ruia’s net worth
Atul Ruia has an estimated net worth of $1.3 billion, as per Forbes.