New Joiners of India 2012 Rich List

3. Jitendra Virwani
Net worth: $910 million

India’s property tycoon Jitendra Virwani made his debut after grabbing few biggest private equity contracts in real estate for his Bangalore-headquartered Embassy Property Developments. In July 2011, Jitendra Virwani bought 49 percent stake in its profitable property portfolio for $200 million. Virwani started his career as a teen ager under his father’s construction business. In the year 1993 he started his own construction company, Dynasty Developers by borrowing $50,000 from his friends which he later named as Embassy Property Developments.

4. Lachhman Das Mittal
Net worth: $785 million

After knocking down a deal of $800 million with private equity firm Blackstone, Lachhman Das Mittal entered the riches club in the year 2012, with a net worth of $785 million. Before joining his family business of agricultural and farm equipments he worked in the life insurance sector. Today his company International Tractors exports its vehicles to 70 countries and it also makes Rhino brand of utility vehicles.

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