Mangaluru: Tech industry icon Jayshree Ullal has emerged as the richest self-made woman entrepreneur in India with an estimated wealth of Rs 50,170 crore, according to the Hurun Research India Rich List 2025 released on Wednesday. The Mangaluru-born business leader, who has been at the helm of US-based Arista Networks since 2008, has secured the top position among India’s most successful women entrepreneurs for yet another year, further cementing her global stature.

Arista CEO continues to dominate rankings

Ullal, a distinguished member of the GSB Smartha Chitrapur Saraswat Brahmin community, has been celebrated worldwide for her leadership in the data-driven technology sector. Under her stewardship, Arista Networks reported USD 7 billion (approximately Rs 58,300 crore) in revenue last year, marking a 20% year-on-year growth. Her strategic direction has helped the company expand aggressively in cloud computing, enterprise networking and AI-driven infrastructure solutions.

She currently owns nearly 3% equity in Arista, part of which is registered under the names of family members. In addition to her executive role, she serves on the board of Snowflake, adding to her influence in the global technology ecosystem.

Ullal began her career with leading semiconductor and networking firms including Cisco, AMD and Fairchild Semiconductor, gradually rising to become one of the most influential Indian-origin CEOs in the United States.

Radha Vembu secures second place

At number two is Radha Vembu, the majority stakeholder of Zoho Corp, with a net worth of Rs 46,580 crore. An alumnus of IIT Madras, she oversees critical functions of the global SaaS company co-founded by her brother Sridhar Vembu. Zoho has expanded significantly across international markets, contributing to her continued rise in wealth and influence.

Falguni Nayar remains among the top three

Nykaa founder Falguni Nayar, a former investment banker who revolutionised online beauty retail in India, ranks third with a wealth of Rs 39,810 crore. Since launching Nykaa in 2012, she has expanded the brand to nearly 200 stores across India, transforming it into a household name in beauty, skincare and lifestyle products.

Kiran Mazumdar-Shaw takes fourth place

Biocon founder Kiran Mazumdar-Shaw ranks fourth with Rs 29,330 crore. A pioneer in the biotech space, she founded Biocon in 1978 and today leads both Biocon Ltd and Biocon Biologics, driving India’s biotechnology footprint globally.

Other notable entrepreneurs in the top ten

Ruchi Kalra – Rs 9,130 crore

Co-founder and CEO of OfBusiness, one of India’s largest B2B commerce and financing platforms. Her growth trajectory has been recognised as one of the most impressive in recent years.

Juhi Chawla (and family) – Rs 7,790 crore

The former Bollywood actor-turned-entrepreneur has made sizeable investments in real estate, business ventures and sports franchises. Her wealth surged by 69% this year, making her one of the biggest gainers on the list.

Neha Bansal – Rs 5,640 crore

Co-founder of Lenskart, she leads strategic, legal and administrative functions at the eyewear giant. Prior to Lenskart, she founded DNS Advisors.

Indra Nooyi – Rs 5,130 crore

The former PepsiCo chairperson and CEO, credited with doubling the company’s revenue during her tenure, continues to serve on prestigious global boards including Amazon and Deutsche Bank.

Neha Narkhede (and family) – Rs 4,160 crore

Co-founder of Confluent and co-creator of Apache Kafka, she later founded Oscilar, a leading cybersecurity and risk-management platform.

Kavita Subramanian – Rs 3,840 crore

Co-founder of Upstox, she has previously worked with LeapFrog Investments, Actis and SKS Microfinance, contributing to her strong financial background.

Conclusion

The Hurun India Rich List 2025 reflects the growing economic power and entrepreneurial leadership of Indian women across technology, biotechnology, fintech, retail and entertainment. With increasing global influence and rapidly expanding enterprises, these leaders continue to redefine the landscape of Indian business, inspiring a new generation of women entrepreneurs.