< Previous21,250 The number of staff employed by Aster DM Healthcare across its 360 units q Moving ahead on our digital journey, we have launched the fi rst version of 1 Aster, our patient assistance app in the UAE” M anaging the company’s operations in India and the GCC, Alisha Moopen is the deputy managing director of Aster DM Healthcare, currently one of the largest and fastest growing conglomerates in the MENA region that covers the full spectrum of health- care services with an expansive portfolio that includes hospitals, clinics, pharmacies, diag- nostic centres, educational institutions, health- care management and healthcare support systems. Having joined the company as a direc- tor in 2013, she is responsible for overseeing the strategic direction and development of the company, and notably spearhead- ing the expansion of the group into new markets. Passionate about healthcare Moopen’s philosophy in life is ‘Healthiness is Happiness’. She wants to enable quality healthcare across the globe through treating people with compassion, precision and excellence. Dedicated to the cause of women empowerment and mental health, she believes in the diversity of workforce, strength in differences and focuses on improving the glass ceilings at work for women. She was instrumental in launching the Women in Leadership programme at Aster DM Healthcare which empowers talented and capable female employees with training and growth opportunities, to shape them for leadership roles. Also an active philanthropist, Moopen is a trustee of Aster DM Founda- tion and involved in social welfare through Aster Volunteers programme which connects people in need with those who would like to help. A Chartered Accountant from the ICAS (Institute of Chartered Account- ants of Scotland), Moopen worked earlier with Ernst & Young. She graduated from the University of Michigan, Ann Arbor with distinction in Finance & Accounting. Moopen was elected by World Economic Forum as a Young Global Leader to join the class of 2018. Recognising her past work in healthcare, she has been inducted into a five-year programme with like-minded people who are committed and passionate to tackle the main challenges of the world today, with healthcare being one of them. ALISHA MOOPEN Deputy managing director ASTER DM HEALTHCARE HEALTHCARE 30 Vol. 22/04, April 2022 INDIAN POWER LIST 2022A t the mere age of 18, Bhatia began working in the trading of building and hardware materials. Eager to learn, he multi-tasked and covered various aspects of the busi- ness, from sales to store monitoring. In 1987, he created Mechweld Trading Company, his first UAE- based business where, as the owner, he continues to oversee the business which includes trading of welding, hardware and building materials. That same year, Bhatia started United Metal BHARAT BHATIA Founder and CEO CONARES CONSTRUCTION AND REAL ESTATE Supply Limited, a UAE based company, trading in structural Steel and Pipes for which is currently also the CEO. Industry benchmark In 1988, he founded Conares, a steel production and trad- ing business, from the Jebel Ali Free Zone. The company initially focused on steel trading, but later set up manufacturing facilities in the UAE, and today, is the only private and one of the largest steel manufacturers in the UAE. Conares is the leading producer of steel pipes and tubes, rebars, flat steel colour-coated lines, in the region with a capacity to manufacture 1.15 million tonnes of steel products annually to meet the growing demand for steel from the region’s infrastructure devel- opment sector. Its steel has been used in several projects in the UAE, including Etihad Rail and Expo 2020 Dubai. A n entrepreneur at heart who loves tech- nology, Panjabi is the COO of Jacky’s Group of Companies. He also holds a senior leadership position at the UAE Chapter of TiE (The Indus Entrepreneur), a group founded in 1992 in Silicon Valley with a focus to foster entrepreneurship through education, network- ing, mentoring, incubation, and funding. Panjabi is also a member of the MENA One Chapter of the Young President’s Organization (YPO) and a board member of the Dubai ASHISH PANJABI Chief operating offi cer JACKY’S GROUP RETAIL Computer Group (DCG) which represents the inter- ests of the computer indus- try in Dubai and was formed under the auspices of the Dubai Chamber of Commerce and Industry. Taking over the reins Panjabi assumed responsi- bility in his family-run busi- ness in 2004 and while initially was involved in the finance side of the business; he soon got involved in the e-business aspects. In 2000, he launched the first e-commerce electronics website in the UAE. He is also the COO of Jacky’s Retail since 2014 where he is responsible for running a dedicated chain of brand shops for Samsung, with stores spread across the UAE. Jacky’s Group of Companies is based in Dubai with five subsidiaries, namely: Jacky’s Electronics, Jacky’s Middle East, Jacky’s Business Solutions, Jacky’s Gulf, and Jacky’s Logistics Worldwide LLC. arabianbusiness.com 31 2022 INDIAN POWER LIST1989 The year in which investment solutions provider Century Financial was established in Dubai W ith more than eight years of diverse experience in equity as well as credit research, Sachanandani is well versed in fundamental and technical analysis of equi- ties, foreign exchange, bonds and commodities. Before joining Century Financial, she worked for CRISIL and DBOI Global Services (Deutsche Bank Operations International). Some of Sachanandani’s notable key skill- sets include research on global equity markets, formulation of short-term and long-term trad- ing strategies, quantitative analysis, formula- tion of customised investment portfolios, fundamental analysis, financial statement analysis, credit research, and risk management. She is also respon- sible for an instructional programme related to financial markets for educat- ing the clients and the internal employees. Also, she has successfully completed all three levels of the Chartered Financial Analyst Programme (CFA) and holds a Master’s Degree in Finance from Mumbai University. Providing clients with better investment prospects For almost three decades, Century Financial have been striving to provide an array of professional services to private and corporate investors. The company has since then extended its network throughout the Middle East and Gulf countries. With a vision to be the region’s first choice for global financial invest- ments, Century Financial is the pioneer of global financial markets in the region. Committed to making investments simple and accessible through a highly customer-centric approach, industry-leading expertise and cutting-edge technologies, its core emphasis is on educating investors thereby, empowering them to make an informed decision. Century Financial operates on an international platform that is diver- sified from a geographical perspective. With research that gets regularly published on international platforms, its expertise helps generate custom- ised portfolios and their strategies are fine-tuned according to market dynamics. Some of Century Financial’s pioneering products in the region include market neutral strategies that have been launched after years of back testing. DEEPA SACHANADANI Deputy head of research CENTURY FINANCIAL BANKING AND FINANCE 32 Vol. 22/04, April 2022 INDIAN POWER LIST 2022DR DHANANJAY DATAR Chairman and managing director AL ADIL GROUP RETAIL M asala King Dr Dhananjay Datar is chairman and managing director of Al Adil Trading in Dubai. He is a self- made entrepreneur who has carved a unique niche in the retail sector. He was raised in rural India in poverty, which taught him self-reliance, frugality and hard work. He started his business career in 1984 as an intern in a small grocery shop established by his father in Dubai. With honesty, hard work and determination, he carved the world-famous business group Al Adil out of a tiny shop. Today, his Group encom- passes a chain of 50 spacious super stores spread across Gulf countries, two spice facto- ries, and two flour mills equipped with modern technology and an import-export company acting as an Indian arm. A spotlight on Indian products Apart from business, Datar, along with his family and business, has immensely contributed in philanthropic activities and supported social welfare projects. Recognised as an ISO 22000, HACCP, GMP, GHP certified company in 2006, Al Adil Trading has performed a key role in bringing more than 9,000 Indian products to UAE. The group also produces more than 700 products within categories as readymade flours, spices, pickles, jams, Namkeen and instants, under its own brand Peacock. For the last 36 years, it has been serving authen- tic, hygienic and secure Indian foodstuff to the customers from the GCC. Al Adil Group is actively expanding its presence in other Gulf countries. It has already established special trade routes in USA, Canada, Kenya, Switzerland, Italy, Eritrea, Kuwait, Oman, Bahrain, Saudi Arabia and UAE. “In the year 2021-22, we all witnessed the impact of the global pandemic, continuing from the previous year. Due to lockdowns and transport restric- tions in many countries, the supply chains were disrupted and the industry as well as the consumers faced a lot of challenges,” Datar says on how the business has performed. “Since we are in retail business and food is a basic necessity for everyone, our company Al Adil Trading didn’t face any problem at all. On the backdrop of the Covid pandemic, we anticipated the challenges ahead and procured sufficient stock of food products in advance. Besides, we import and export our consignments mainly through water transport. This service continued well even during the pandemic. It helped us to sustain and continue our trade and operations as usual. Consumers also anticipated the challenging situation and stored extra food stock which increased the demand for our products. Thus, we could maintain our growth to a satisfactory level.” 9,000 The number of food products from India Al Adil Trading markets in the UAE q Al Adil Trading encompasses a chain of 50 superstores spread across the GCC, two spice factories and two fl our mills equipped with modern technology” arabianbusiness.com 33 2022 INDIAN POWER LISTA member of the company’s founding family and currently, the managing director of Al Turki Enterprises (part of the Al Tasnim Group), Khimji served as the managing director and founding partner of India Circus Retail, an online retailer of lifestyle products in India for four years. Her business acumen and foresight were essential to India Circus’ launch and financial growth. She guided the brand through the market with her reputed management skills, lent from her prior experi- ence. Previously, she has embarked on various successful entrepreneurial ventures, and acquired an indispensable under- standing of the global market, including the domain of e-commerce. She has also embarked on various successful entrepreneurial ventures and her vast experience and proficiency have channelled her businesses and aspirations in the right direction. Transformation of Al Tasnim Group Established in 1976, Al Turki Enterprises (ATE) has grown to become a firm fixture within Oman’s construction sector. Khimji joined the Al Tasnim Group in 2012 and immediately restructured the Group into manageable divisions. A multifaceted construction firm, the group functions through six main verticals, including oil and gas, civil construction, building finishes, cement products, roads and infrastructure, and product dealership training. Other divisions of the group include fitness, catering, housekeeping, roto- moulding, and health. She has steered the Omani company through a number of key projects during her eight years in the role, including Oman’s integrated tourism complex (ITC) Al Mouj, Muscat. Phase 2 of Al Tasnim Group’s multi-dwell- ing community development – The Ras Al Hamra Development Project. This consists of apartments, villas, and related infrastructure and was shortlisted for Construction Week’s Residential Project of the Year at its CW Oman Awards 2020 by ITP Media Group. In February 2020, Al Tasnim signed an MoU with Oman’s Ministry of Heritage and Culture to construct a visitor centre at the Bat archaeological site and develop the surrounding area of the Khutm Archaeological Tower. DEVAKI KHIMJI Executive director AL TURKI ENTERPRISES CONSTRUCTION AND REAL ESTATE 30,000 The number of employees under the Oman-based Al Tasnim Group’s payroll q We are proud to say that at least one division of the group is or has been a part of every major landmark in Oman” 34 Vol. 22/04, April 2022 INDIAN POWER LIST 2022W ith humble roots, Vahedna Group was established by Faisal Yusuf Vahedna, as Vahedna Trading Co in 1996 in Deira. And today, the group owns four companies in the UAE, two retail show- rooms in Deira, Dubai, and an online e-commerce portal eDubuy.me. The company’s core business activities are focused on retail, wholesale, import and re-export. It deals in all FAISAL YUSUF VAHEDNA Group managing director VAHEDNA GROUP OF COMPANIES RETAIL major brands of mobile phones, home appliances, IT products, telecommunica- tion, office automation and consumer electronics in the region and around the globe. As a leading retail distrib- utor of major electronic brands in the UAE, just some of these international brands include GE, Sony, Panasonic, Toshiba, LG, Hitachi, Dell, Philips, HTC, Super General, Supra, Samsung, Akai, Canon and many more. The group is also the authorised distributor of Apple products in the UAE. In 2017, Vahedna Group registered its own brand V-TEC in the UAE. Sourced from the most trusted manu- facturers, V-TEC boasts its legitimate high quality prod- ucts and has expanded its offerings from smartphones, cameras and accessories to home appliances. Vahedna Group also supports several NGO programmes in the fields of medicine and education throughout the world. A computer program- mer, businessman, billionaire, serial entrepreneur, and investor all in one, Divyank Turakhia is also the co-founder of Directi, a company that provides web hosting services, and all its media businesses, such as Media. Net, Skenzo, BigJumbo, DomainAdvertising.com, and MediaInvestments.com. The recipient of multiple accolades, Turakhia has been listed in many high- profile magazines across the UAE and India. Born in India, Turakhia DIVYANK TURAKHIA CEO MEDIA.NET MEDIA began learning coding at the age of eight and had provided freelance inter- net consulting for large corporates at just age 14. In 1998 at age 16, he co-founded Directi with his older brother, Bhavin. In 2014, NASDAQ:EIGI purchased the hosting and domains businesses for $160m. In 2005, Turakhia founded Skenzo, a domain advertising startup, and in less than a year, it grew to become the number one fastest growing domain advertising business world- wide. Later, the company built Bigrock and launched 10 other companies under the same Directi banner. His net worth is esti- mated at $1.76bn. He sold Media.net in 2016 to a Chinese consortium for $900m, the third-largest ever ad-tech deal. The Turakhia brothers’ other startups include Flock, which offers collabo- ration tools for enterprises. arabianbusiness.com 35 2022 INDIAN POWER LISTFAIZAL KOTTIKOLLON Founder and chairman KEF HOLDINGS F rom a family of Kerala-based industrial- ists, Faizal Kottikollon, founder and chair- man of KEF Holdings, launched Sharjah- based foundry Emirates Techno Casting in 1997 which initiated his foray into the oil and gas sector. An integrated facility incorporating cutting-edge engineering and design lab, Emir- ates Techno Casting boasted the world’s largest automatic moulding line, steel refining furnace, machine shop and research and development lab, and was rated amongst the top three tech- nologically advanced foundries in the world. An industry agnostic company powered by innovation In 2012, Tyco International bought the business for $400m, becoming the impetus for the launch of KEF Holdings’ two new verticals; KEF Investments and KEF Infra, which was among the world’s largest fully integrated offsite infra manufacturing facility. A true change maker and genuine trailblazer, KEF Holdings is an industry agnostic company powered by innovation, an unshake- able disruptive spirit and an unwavering commitment to creating positive social impact for a better future. The firm specialises in offsite manufacturing technology in several industries, including healthcare, education, sports and agriculture. In December 2016, KEF Infra (a KEF Holdings subsidiary) opened the world’s largest fully integrated offsite manufacturing park in the Indian state of Tamil Nadu and produces everything from precast products and prefabricated room to windows, furniture, marble and granite. With a 20-year legacy of building successful businesses, in 2018, KEF Infra announced a strategic merger with Katerra, a Silicon Valley infra tech company. He is also a member of the Indian Prime Minister Narendra Modi’s prestigious panel of Champions of Change for Infrastructure. And staying true to Kottikol- lon’s belief of KEF Holdings being a social-enterprise, in close collaboration with stakeholders in the public and private sectors, the company actively drives, funds and supports high-impact social activities undertaken by the Faizal and Shabana Foundation. The Foundation addresses key human devel- opment areas including education, healthcare, infrastructure, sustainable livelihood and skill development. INDUSTRY $20m The funding Faizal and Shabana Foundation provided to support education, healthcare, sustainable development and humanitarian aid q Dubai’s future- readiness and above all the abiding global investor confi dence in Dubai’s future, has been driving the confi dence levels of the consumers” 36 Vol. 22/04, April 2022 INDIAN POWER LIST 2022$21,862 The amount paid by Firoz Merchant to help free 51 inmates in Fujairah prison in November FIROZ MERCHANT Founder and chairman PURE GOLD GROUP RETAIL P hilanthropist, Firoz Merchant is the founder and chairman of Pure Gold Group, a multinational company comprising Pure Gold Jewellers, La Moda Sunglasses, Pure Gold Properties and real estate investments in several other countries. It all began in 1989 when Merchant made his dream a reality with the first Pure Gold Jewellers store. Within a short span, Merchant, with his high held vision and a wealth of experience in the bullion business, expanded the retail network of Pure Gold. With over two decades in the market, Pure Gold Jewellers has matured over the years with more than 150 stores over 20 countries including Middle East and Asia. With the latest designs, extensive retail experience, and a range of inno- vative concepts, today, Pure Gold Jewellers has become a leading jeweller in the Middle East and Asia with two factories in India and one in China, employing over 2,000 craftsmen and professionals. Based upon the two pillars of excellence and innovation, Pure Gold Jewellers has received numer- ous awards over nearly three decades of service, and continues to pride itself on its superior quality and competitive pricing. Over the years, Pure Gold Jewellers has been recognised for excellent customer service. It is now one of the fastest growing jewellery brands with 150 stores in 12 countries. It is the only ‘D’ certified World Diamond Mark authorised diamond retailer in the GCC region. The company also topped in the Best Customer Service category in the UAE jewellery sector in an annual study by international consultancy Ethos Consultancy for the year 2009 and 2010. Pure Gold Jewellers has been consistently ranked as a Super- brand by UAE Superbrand Council for five consecutive years since 2009. The Forgotten Society initiative Merchant is best known as the “merchant with a heart of gold”, having launched the Forgotten Society initiative in 2008 to help free several thousand prisoners by paying off their debts and ensuring their return home to their families. He was honoured by UAE’s Ministry of Interior in August 2020 for his philanthropic work. His philanthropy has cost him well over $4m. q Lead a life governed by ethics, integrity, discipline, and most importantly, abide by all the rules, regulations and systems set by the government for common good” arabianbusiness.com 37 2022 INDIAN POWER LISTJOY ALUKKAS Chairman and managing director JOYALUKKAS JEWELLERY T he son of jewellery store owner Varghese Alukka, an enterprising businessman who started his first jewellery showroom in Kerala, India, Joy Alukkas was a school drop- out. He first came to the UAE in 1987 to open the family’s first overseas store in Abu Dhabi. In the year 2000, he broke off to launch his own Joyalukkas brand and then in 2002, the brand Joyalukkas was established in India which was the impetus for rapid expansion of the brand across India. The group’s international opera- tions are managed by Alukkas’ son John Paul. Now, Joyalukkas has 130 outlets spread across India and 13 other countries. Alukkas’ other interests include a money exchange, luxury aviation, malls, silks and real estate. With their highly committed team of 8,000 employees and a mission to improve and enrich lives everywhere, Joyalukkas offers extraordinary lifestyle solutions backed by incomparable value addition and innovation, adhering to globally approved processes and norms. The first jewellery retailer to receive esteemed ISO 9001:2008 and 14001:2004 certifications; other noteworthy achievements include the award for Retailer of the Year in the Middle East and the Dubai Quality Awards Certification by Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai. Recently, Joyalukkas India announced plans to raise as much as 23 billion rupees ($300m) from an initial share sale, seeking to tap into the growing demand for the precious metal in the world’s second-biggest consumer market. The proceeds from the issue will be used to pay back some loans and to open new stores,the company said in a draft prospectus. Edelweiss Financial Services, Haitong Securities India, Motilal Oswal Investment Advisors and SBI Capital Markets are the lead managers to the issue. The industry’s prospects have brightened, after two bleak years, as the waning pandemic is encouraging Indians to once again flock to jewellery stores. Joyalukkas operates in a market that is dominated by small shops and national chains like the Tata Group’s Tanishq and Warburg Pincus LLC- backed Kalyan Jewellers India, which listed on stock exchanges last year. Joyalukkas has 85 showrooms in India. RETAIL 40% The proportion of Joyalukkas Group’s retail outlets that are based in the GCC region q We will have to work harder to create the advantage by being unique with our products and services” 38 Vol. 22/04, April 2022 INDIAN POWER LIST 2022KABIR MULCHANDANI Founder and CEO FIVE HOLDINGS $8.1m The incentive pay-outs FIVE had given to its employees in 2021 – 318 percent higher than the industry norm HOSPITALITY C onsidered to be a market leader and a market disruptor, Kabir Mulchandani, founder and CEO of Five Holdings is the man behind the FIVE Hotels & Resorts in Dubai, a hotspot for millennials seeking award-winning experiential lifestyle experiences amidst Dubai’s hospitality landscape. A real estate developer active in Dubai, FIVE Holdings was founded in 2011 as SKAI Holdings and later, its name was changed to FIVE. Under their feather cap is also the FIVE Palm Jumeirah Hotel, considered to be one of the top 10 hotels in Dubai, with reported devel- opment costs at more than $1bn. FIVE also owns the FIVE Jumeirah Village, a landmark hotel tower with 60 floors. Mulchandani has said that FIVE has seen an increase of total revenue generated between both hotels by 153 percent since 2019. Closer ties with India Cultural and social ties between India and the UAE are stronger than ever, says Mulchandani, which is bound to result in an increase in investment and trade, more so than ever before. He also believes that another very important element of closer ties between India and the UAE is greater philanthropy. As an entrepreneur, giving back is one of his personal core values; hence, with Project Udaan, FIVE funds children’s life-saving heart operations. Since the onset of contributing back to society, 343 children’s operations have been successfully completed. When asked on how his business has performed in 2021-22, Mulchandani says: “FIVE has closed out another very successful year in 2021, with highlights that include the acquisition of FIVE LUXE, JBR, ongoing renovation for the on-track launch of FIVE Zurich – and literally taking to the skies with FLY FIVE. As we stand in 2022, I am proud to say that both FIVE Palm Jumeirah and FIVE Jumeirah Village, continued to be leaders in their STR competitor sets – with each hotel, individually ranked number one in their respective sets. FIVE Palm Jumeirah has generated a TrevPAR (total revenue per available room) of 246 percent more than its’ competitive set while FIVE Jumeirah Village generated a TrevPAR of 286 percent more than its competitive set. q FIVE Palm Jumeirah has generated a TrevPAR of 246 percent more than its competitive set” arabianbusiness.com 39 2022 INDIAN POWER LISTNext >