Indian Investors Face Net Worth Declines Amid Market Downturn
A majority of top Indian individual investors experienced a decrease in their net worth during the July-September quarter of 2025, primarily due to market downturns. While the benchmark Nifty index saw losses, the midcap and smallcap indices faced even more significant declines. This broad market correction impacted the portfolios of numerous prominent investors, although some managed to buck the trend.
Despite the general downturn, a few investors managed to generate positive returns. Nemish Shah's portfolio notably demonstrated substantial gains, while Vijay Kedia and Madhusudan Kela also reported positive returns during this period. These instances highlight the possibility of navigating market volatility through astute investment strategies.
Several factors contributed to this shift in fortune for many investors. The global economic uncertainties played a significant role, triggering market fluctuations and dampening investor sentiment. Furthermore, sector-specific corrections might have impacted individual portfolios depending on their asset allocation.
It is important to note the distinction between overall investment trends and the performance of specific investment strategies. According to an EY-IVCA report, India's PE/VC investments reached USD 11.7 billion in Q3 2025, marking a 20 percent increase compared to the same quarter in 2024. While the investment value experienced a slight decrease of 5 percent compared to the previous quarter, the overall deal activity demonstrated strong resilience amidst global economic uncertainties.
Looking at individual investors, Radhakishan Damani, known as India's retail king, maintains a strong position with a portfolio consisting of 14 stocks across various companies. Rekha Jhunjhunwala, who manages the portfolio after the passing of her husband Rakesh Jhunjhunwala, oversees a substantial investment portfolio with key holdings in companies like Titan Company. Ashish Kacholia is recognized for investments in mid-cap companies with high growth potential, with a portfolio valued at over Rs 2,275 crore as of September 2025.
The contrasting performances of various investors during this period underscores the importance of diversification and active portfolio management. Investors with concentrated holdings in specific sectors may have faced greater headwinds compared to those with a more diversified approach. Moreover, the ability to identify undervalued companies and make strategic investment decisions proved crucial in navigating the market downturn.
Despite the recent dip in net worth for many top investors, India remains an attractive destination for global investors, particularly in the real estate sector. Investment volumes are expected to reach USD 5-7 billion in 2025, solidifying India's position as one of APAC's most compelling growth markets. Institutional investments in Indian real estate have remained resilient, reaching USD 4.3 billion during the first nine months of 2025.
In conclusion, while many top Indian investors experienced a decline in their net worth during the July-September quarter of 2025, strategic investments in key sectors and diversification remain critical for navigating market volatility and achieving long-term success.
