Top 100 Billionaires: Kumar Mangalam Birla and the future-proofing of the Aditya Birla Group

STEPPING OUT OF his BMW 740Li, Kumar Mangalam Birla brought a refreshing energy to BITS Pilani in Rajasthan in mid-July. It was his grandfather, the legendary G.D. Birla, who had built the campus over 60 years ago to harness talent and power India’s industrial ambitions. In an era of generative AI, Kumar Mangalam Birla, chairman of the Aditya Birla Group and chancellor of BITS Pilani, in his address, touched upon the transient nature of setbacks and urged students to lead a “generative life” — one fuelled by deliberate creative energy — for lasting value. Setbacks are temporary, said the 58-year-old industrialist who has emerged unscathed from many personal and professional hardships. Hailed the commodity king, Birla’s old customer-centric businesses have, in recent years, been losing steam against aggressive giants in the sector. But Birla was not one to buckle under pressure. He was only 28 years old when he had to take over as the group’s chairman following the early demise of his father, Aditya Vikram Birla. In the three decades since, the business acumen of the sixth-generation scion of the Birla family was on display. He held firm to expand the business empire. Always cautious and calculated, Birla spearheaded the group’s expansion into cement, aluminium, chemicals, fashion, and financial services, brick by brick. The group not only kept pace but surged ahead in the legacy sectors with future-ready investments. Between September 2024 and June 30, 2025, the market capitalisation of the five major group companies increased by 7.46% to ₹7.86 lakh crore. As a result, Birla’s wealth surged by 26.71% to ₹2.09 lakh crore ($24.39 billion), placing him on the ninth spot, according to the 2025 Fortune India-Waterfield Advisors study of India’s Top 100 Billionaires. In FY25, the multinational group’s storied journey reached the milestone of $100 billion in market capitalisation for the first time. Simultaneously, the group underwent a brand repositioning as it introduced its new identity — “A Force for Good” — that emphasised sustainability, trust, and long-term societal benefit. Strengthening the core Birla was steadfast in his resolve to uphold the top position of UltraTech Cement, the country’s largest cement maker. It acquired the assets of Kesoram and India Cements to solidify its leadership position in India. Having crossed 192 million tonnes per annum (MTPA) capacity in Q1FY26, it is now charting a strategic course to surpass 200 MTPA by FY27, setting its sights on becoming the world’s largest cement manufacturer (outside China). It is executing an investment cycle worth ₹32,400 crore for capacity expansion between FY25 and FY27. The company retains its leadership position despite the entry of the Adani Group into the sector with the acquisitions of Ambuja and ACC in 2022. Meanwhile, Hindalco, its metals flagship, reported a record-breaking consolidated Ebitda of ₹35,496 crore in FY25, a staggering 38% leap over the previous year, according to database provider Capitaline. The company also announced a massive $10-billion capex plan — a vote of confidence in its future-ready aluminium and copper capabilities. A major branding milestone was the rollout of the Hindalco master brand, unifying its downstream and metal businesses under a singular identity. In parallel, Birla Cellulose sustained its global leadership in cellulosic fibre, posting its highest-ever revenue of ₹15,897 crore in FY25, fuelled by expansion into more sustainable manufacturing capacities. Yet, it was far from a cakewalk. In the ever-evolving telecom sector, Birla-controlled Idea Cellular merged with Vodafone to weather the disruptions generated during the launch of Mukesh Ambani’s Reliance Jio Infocomm. When the government converted its dues into equity, the group’s stake shrank to 9.5% from 26%. Birla also stepped down as the non-executive chairman of the telecom company in August 2021. He returned to the board of the company two years later. The business is yet to come out of the woods. In 2019, the group succumbed to competition as it sold its supermarket chain, More. Diversification details In the recent past, the group aggressively ventured into new consumer-facing businesses. In FY25, the paints business, under the Birla Opus brand, completed its first full operational year with a bang; it commissioned five greenfield plants and secured the second position by installed capacity in India’s organised decorative paints market. Today, it accounts for 21% of the country’s organised market, a feat accomplished at breakneck speed. Simultaneously, the group forayed into India’s booming gems and jewellery sector, launching ‘Indriya’ with a planned investment of ₹5,000 crore. Within a year, 28 flagship stores were launched, generating considerable consumer buzz. In digital commerce, Birla Pivot, the B2B e-retail platform, clocked in a revenue run rate exceeding ₹5,000 crore, underscoring the group’s agility in scaling digital-first ventures. Furthering financial inclusion, Aditya Birla Capital introduced ABCD, an omni-channel direct-to-consumer (D2C) platform that integrates over 22 financial products and services into a seamless digital experience. Currently, UltraTech is planning to venture into the manufacturing of wires and cables with an investment of ₹1,800 crore. Its first plant is expected to be commissioned near Gujarat’s Bharuch by December 2026. The proposed entry into the new business segment will be through the building products division and is in line with the company’s strategy to strengthen its position as a comprehensive building solutions provider. In financial services, Aditya Birla Finance merged into Aditya Birla Capital in April to consolidate the platform into a unified financial powerhouse. The group also participated in India’s largest-ever follow-on public offer with Vi’s (Vodafone Idea) `18,000-crore issue, attracting marquee global investors. Over the past three years, the group has doubled down on the Indian consumer segment. Today, 20% of its revenue stems from consumer businesses, with projections indicating a rise to 25% in five years, generating $25 billion, surpassing many standalone consumer companies in India. To streamline the business as competition intensifies from Tata Trent and Reliance Trends, Aditya Birla Fashion and Retail Ltd (ABFRL) demerged the Madura business into Aditya Birla Lifestyle Brands Ltd in May. A successful capital raise by ABFRL followed the demerger. Similarly, the group divested Century Paper to ITC for ₹3,498 crore, positioning Aditya Birla Real Estate Ltd (ABREL) as a pure-play real estate enterprise. The group’s venture into jewellery isn’t just opportunistic — it’s strategic. With a market size of ₹6.7 lakh crore in 2024, India’s jewellery market is expected to touch ₹11-13 lakh crore by 2030. Yet, 60% of the sector remains fragmented and largely unorganised, with a few national brands. Wedding jewellery, constituting 55% of total sales, and a youth-heavy demographic offer immense scope for structured, scalable businesses like Indriya. As for paints, the logic is equally compelling. Though India has a century-old paints industry, per capita consumption stands at 3.5 kg, against an average of 10-25 kg in developed countries. With rising disposable incomes, a booming housing sector, and shorter repainting cycles, the Aditya Birla Group anticipates a “galactic opportunity”: one that complements its decades of experience in building materials. U.S. expansion In FY25, the Aditya Birla Group also reinforced its global footprint, particularly in its largest overseas market — the U.S. With over $15 billion invested over 17 years, it is the largest Indian investor in the U.S. A flagship greenfield aluminium plant worth $4 billion — the group’s largest investment globally — in Bay Minette, Alabama, is currently under construction. The plant aims to boost capacity for automotive and beverage can applications. Over 1,000 contractors have already been employed, a figure expected to double soon. In June, the group made a strategic entry into the U.S. chemicals sector by acquiring Cargill’s 17-acre speciality chemical facility in Dalton, Georgia, via Aditya Birla Chemicals (U.S.A.) Inc. This acquisition aligns with the group’s proven model of scaling advanced manufacturing operations abroad, complementing existing assets such as Novelis and Birla Carbon. The group plans to expand this facility to cater to sectors such as automotive and renewable energy. It has 5,400 people in its U.S. workforce, primarily within Novelis, which alone generates revenues of $18 billion. Last month, Birla joined the board of directors of the U.S.-India Strategic Partnership Forum (USISPF) as a member of its executive committee. In a statement, Birla said that the U.S.-India partnership was among the most consequential partnerships in the world. “We are very proud to be the largest Indian investor in the U.S.,” he asserted. No doubt, Birla has fearlessly led the group through the churn of fierce competition. Now, his daughter Ananya and son Aryaman Vikram are at the business front with him to lead the conglomerate. The future calls. Fortune India is now on WhatsApp! Get the latest updates from the world of business and economy delivered straight to your phone. Subscribe now.

Top 100 Billionaires: Kumar Mangalam Birla and the future-proofing of the Aditya Birla Group

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