Top 10 Muslim-Owned Companies in India (2026)

India’s economic rise is built on entrepreneurs from every community. Muslim founders and business leaders have been central to that story — building companies that span IT, pharmaceuticals, retail, real estate, food processing, and consumer wellness.

These are not small operations. Several are publicly listed, billion-dollar enterprises. Others are privately held giants that dominate their sectors. Together, they employ hundreds of thousands, drive exports, and shape entire industries.

Here are ten of the most influential companies in India founded or led by Muslim entrepreneurs, updated with the latest available financial data as of early 2026.

Note: Several companies listed are publicly traded or professionally managed with diversified ownership. Inclusion reflects foundational leadership, long-term stewardship, or current executive direction — not exclusive ownership.

Related: Top 10 Muslim-Owned Companies in the World

1. Wipro Limited — Azim Premji’s Tech Empire

Wipro’s transformation from a cooking oil company in Amalner to a global IT powerhouse remains one of India’s greatest corporate stories. Azim Premji took over at age 21 when his father passed away in 1966, and he steered the company into technology services during the 1980s.

Today, Wipro is a top-five Indian IT services company. For FY2025, the company reported annual revenue of approximately US $10.4 billion. As of February 2026, its market capitalization stands at roughly $26 billion, with around 230,000 employees globally.

But Premji’s impact goes far beyond the balance sheet. Through the Azim Premji Foundation, he has donated over $29 billion in Wipro shares to philanthropy — making him one of the most generous individual donors in history. The foundation operates across 350+ districts in India, runs 263 teacher learning centers, and has directly benefited over 8 million children. A third campus in Ranchi is set to become operational in 2026, and the foundation’s girls’ scholarship program is scaling to 250,000 scholarships for the 2025-26 academic year.

Premji’s personal net worth is estimated at $11.8 billion as of 2025, though he has already given away far more than he currently holds.

Sector: Information Technology & Consulting
Revenue: ~US $10.4 billion (FY2025)
Market Cap: ~$26 billion (Feb 2026)
Employees: ~230,000

2. LuLu Group International — Yusuff Ali’s Retail Juggernaut

Yusuff Ali M.A. built LuLu Group from a single trading firm into one of the largest retail empires in the Middle East and South Asia. The group operates 240+ hypermarkets and shopping malls across 10 countries, including India, the UAE, Egypt, Malaysia, and Indonesia.

In late 2024, LuLu Retail Holdings completed a US $1.72 billion IPO on the Abu Dhabi Securities Exchange — the UAE’s largest listing that year. The offering was oversubscribed 25 times, generating investor demand exceeding $37 billion. As of September 2025, the group’s trailing 12-month revenue reached approximately $7.9 billion.

In India, LuLu has committed over Rs 10,000 crore in investment for ongoing projects, with large-format malls in Kerala, Telangana, Tamil Nadu, and other states transforming the retail experience in Tier-1 and Tier-2 cities. Forbes estimates Yusuff Ali’s net worth at roughly $7.4 billion.

Sector: Retail & Hospitality
Revenue: ~US $7.9 billion (TTM Sep 2025)
Employees: 55,000+ globally
Net Worth (Founder): ~$7.4 billion

3. Cipla — The Pharmacy of the World

Founded in 1935 by Khwaja Abdul Hamied, Cipla is one of the most respected pharmaceutical companies on the planet. The company earned global recognition in 2001 when Dr. Yusuf Hamied offered to supply antiretroviral drugs at a fraction of the prevailing cost, breaking open access to HIV/AIDS treatment for millions in the developing world.

Cipla remains a force in generics. For Q3 FY2026 (quarter ending December 2025), the company reported revenue of Rs 7,074 crore. Its trailing 12-month revenue stands at approximately $3.2 billion, and the company’s market capitalization is around Rs 1.07 trillion ($12 billion) as of early 2026.

The Hamied family’s promoter holding is at 29.2%, and while the company is professionally managed, the founding family’s influence on its mission — affordable medicine for all — remains unmistakable. Cipla employs approximately 27,700 people and sells products in over 80 countries.

Sector: Pharmaceuticals
Revenue: ~US $3.2 billion (TTM Dec 2025)
Market Cap: ~$12 billion (Feb 2026)
Employees: ~27,700

4. Prestige Group — Irfan Razack’s Real Estate Powerhouse

What started as a small construction outfit in Bangalore has become India’s second-largest listed real estate company. Founded by Razack Sattar and now led by his son Irfan Razack, Prestige Group has developed residential complexes, commercial offices, retail malls, and hotels across South India.

For FY2025, Prestige Estates reported revenue of Rs 7,349 crore (approximately $880 million). The company is aggressively expanding: it is targeting Rs 27,000 crore in sales bookings for FY2026, a 59% jump. Major new projects are launching in the Delhi-NCR market (Gurgaon, Noida, Ghaziabad) and Mumbai, with a Rs 12,000 crore township project in Ghaziabad marking the group’s entry into North India.

According to the Forbes India Rich List, Irfan Razack’s personal wealth stands at approximately $6 billion, placing him among India’s 100 wealthiest individuals.

Sector: Real Estate & Infrastructure
Revenue: ~Rs 7,349 crore / ~US $880 million (FY2025)
Net Worth (Chairman): ~$6 billion

5. Metro Brands — Rafiq Malik’s Footwear Empire

Metro Brands, founded by Rafique A. Malik, is one of India’s largest organized footwear retailers. The publicly listed company operates a multi-brand retail network that includes Metro Shoes, Mochi, Walkway, and the Indian franchise for Crocs and FitFlop.

The company has been on a growth tear. In Q3 FY2026 (December 2025), Metro Brands reported revenue of Rs 811 crore, up 15% year-over-year. E-commerce sales grew 24% in the same quarter. EBITDA margins expanded to nearly 33%, and the company’s market capitalization sits at approximately Rs 29,700 crore (~$3.5 billion) as of early 2026.

Forbes estimates Rafiq Malik’s net worth at around $2.1 billion, making him one of India’s wealthiest Muslim entrepreneurs.

Sector: Retail & Consumer Goods (Footwear)
Q3 FY2026 Revenue: Rs 811 crore
Market Cap: ~Rs 29,700 crore (~$3.5 billion)
Net Worth (Founder): ~$2.1 billion

6. Himalaya Wellness Company — Mohammad Manal’s Ayurvedic Pioneer

Long before “herbal wellness” became a marketing buzzword, Mohammad Manal was already doing it. He founded Himalaya Drug Company in 1930 in Dehradun, combining traditional Ayurvedic knowledge with modern scientific research. The company was among the first to subject herbal products to clinical validation.

Today, Himalaya Wellness sells products in 106 countries across personal care, health supplements, baby care, and animal nutrition. The company is privately held through the Manal Foundation, but estimates place its annual revenue between $250 million and $750 million. It employs over 10,000 people worldwide.

Himalaya’s Liv.52 (a liver health supplement) and its personal care range remain bestsellers both in India and internationally, making it one of the country’s most recognized wellness exports.

Sector: Healthcare & Consumer Wellness
Revenue: Estimated $250-750 million (privately held)
Employees: 10,000+
Reach: 106 countries

7. Hamdard Laboratories (India) — Rooh Afza and the Unani Legacy

Hamdard is one of India’s oldest and most trusted names in traditional medicine and FMCG. Founded by Hakim Abdul Hameed, the company is best known for Rooh Afza, the rose-flavored drink that has been a Ramadan staple for over a century, and Safi, a blood purifier rooted in Unani medical tradition.

Rooh Afza alone accounts for an estimated 85-90% of the food division’s revenue, which crossed Rs 500 crore annually. The broader Hamdard group, including its medicine division (Rs 382 crore in sales), is targeting Rs 1,000 crore in total revenue within the next few years. The company operates as a Waqf (Islamic endowment), channeling profits into education and healthcare through institutions like Jamia Hamdard University.

In early 2026, a Supreme Court ruling classified Rooh Afza as a “fruit drink” under the UPVAT Act, settling a long-running tax classification dispute.

Sector: Traditional Medicine & FMCG
Revenue: ~Rs 900+ crore combined (privately held)
Key Products: Rooh Afza, Safi, Cinkara

8. Allana Group — India’s Halal Agri-Food Giant

Founded in 1865, the Allana Group is India’s largest exporter of processed food products and agro-commodities. Led by Feroz Allana, the group operates across halal meat processing, frozen foods, edible oils, coffee, and pet treats, exporting to over 85 countries.

The group’s annual revenue reached approximately Rs 10,300 crore (roughly $1.2 billion) as of March 2025, and management has publicly stated a target to double the business to nearly US $4 billion over the next 4-5 years. Allana was a Gold Sponsor at World Food India 2025, signaling its ambitions to expand its processed food portfolio.

The company holds market leadership in frozen and chilled halal boneless meat, a position built over more than 150 years of operations.

Sector: Agribusiness & Food Exports
Revenue: ~Rs 10,300 crore / ~US $1.2 billion (FY2025)
Target: US $4 billion in 4-5 years
Reach: 85+ countries

9. Aster DM Healthcare — Dr. Azad Moopen’s Hospital Network

Dr. Azad Moopen started with a single clinic in the UAE in the 1980s. Today, Aster DM Healthcare is one of the largest integrated healthcare providers in India and the Middle East, ranked the 2nd largest healthcare provider in the UAE and 15th in EMEA by revenue.

The numbers tell the story. For Q3 FY2026 (quarter ending December 2025), Aster DM reported revenue of Rs 1,186 crore, up 13% year-over-year. On a proforma basis (combined with Quality Care India), revenue hit Rs 2,366 crore with EBITDA margins expanding to over 20%. For full-year FY2025, the company posted revenue of Rs 4,138 crore, growing 12% year-on-year.

The company is investing heavily in expansion, with plans to reach 13,600 beds by end of FY2027. Aster operates hospitals, clinics, and pharmacies, and its growth trajectory makes it one of the most watched healthcare stocks in India.

Sector: Healthcare
Revenue: Rs 4,138 crore (FY2025); Q3 FY2026 at Rs 1,186 crore (+13% YoY)
Expansion Target: 13,600 beds by FY2027

10. iD Fresh Food — P.C. Musthafa’s Ready-to-Cook Revolution

P.C. Musthafa co-founded iD Fresh Food in 2005 with a simple idea: make fresh idli and dosa batter available to busy urban households. What started as a small operation in Bangalore has become India’s leading ready-to-cook brand, backed by Helion Venture Partners, Sequoia Capital, and other top-tier investors.

The company has raised $120 million in total funding, with its last round in 2021 valuing it at approximately Rs 2,040 crore. Annual revenue reached Rs 563 crore as of March 2024, and the company’s FY2025 revenue is estimated at around Rs 681 crore. Its product range now includes parotas, chapatis, paneer, and curd, all delivered through a proprietary cold-chain network.

Musthafa’s story — from a tribal village in Wayanad, Kerala, to IIM Bangalore and then building a nationally recognized food brand — is one of India’s most inspiring startup narratives.

Sector: Food Processing (Ready-to-Cook)
Revenue: ~Rs 681 crore (FY2025 est.)
Total Funding: $120 million
Valuation: ~Rs 2,040 crore

Honorable Mentions

The Khorakiwala family deserves recognition beyond the ten listed above. While their Monginis bakery chain (1,000+ franchise outlets across India) narrowly missed our updated list, the family also controls Wockhardt, a major pharmaceutical and biotech company, and Akbarallys, one of India’s earliest department stores. Their combined business footprint spans food, pharma, and retail.

The Bigger Picture

These ten companies represent a striking cross-section of India’s economy:

• Combined revenue: Well over $25 billion annually
• Sectors covered: IT, pharmaceuticals, retail, real estate, healthcare, food processing, agri-exports, and consumer wellness
• Jobs created: Hundreds of thousands across every skill level
• Global reach: Products and services sold in 100+ countries
• Philanthropy: Billions donated to education, healthcare, and community development

Muslim entrepreneurs in India have built businesses that are deeply woven into the country’s economic fabric. These are not niche players — they are market leaders, major employers, and significant exporters. As India pushes toward becoming the world’s third-largest economy, these companies and the families behind them will continue to play a central role.

Frequently Asked Questions

Who is the richest Muslim businessman in India?

Azim Premji, the founder of Wipro, is widely considered the richest Muslim businessman in India, with a net worth estimated at $11.8 billion as of 2025. However, he has donated over $29 billion to philanthropy throughout his career, meaning he has given away far more than he currently holds.

Is Wipro a Muslim-owned company?

Wipro was founded by Mohamed Premji in 1945 as Western India Vegetable Products. His son, Azim Premji, transformed it into a global IT company. While Wipro is publicly traded with diversified ownership, the Premji family remains the largest shareholder. Azim Premji stepped down as chairman in 2019, with his son Rishad Premji taking over as chairman.

What makes Cipla historically significant?

Cipla, founded by the Hamied family, gained worldwide recognition when Dr. Yusuf Hamied offered antiretroviral drugs at dramatically reduced prices during the HIV/AIDS crisis in 2001. This move helped save millions of lives across Africa and the developing world, earning India its reputation as the “pharmacy of the world.”

Are there Muslim-owned companies in India’s startup ecosystem?

Yes. iD Fresh Food, co-founded by P.C. Musthafa, is a prominent example. The company has raised $120 million from investors like Sequoia Capital and has become a household name in the ready-to-cook segment. Other Muslim entrepreneurs are active across fintech, e-commerce, and healthcare startups.

How do these companies contribute to India’s exports?

Several companies on this list are major exporters. Wipro generates the bulk of its $10+ billion revenue from international IT services. Cipla sells pharmaceuticals in 80+ countries. The Allana Group exports halal meat and agri-commodities to 85+ countries. Himalaya Wellness products are sold in 106 countries. Combined, these companies contribute billions to India’s export earnings.

What is the Allana Group known for?

The Allana Group, founded in 1865, is India’s largest exporter of processed food products and agro-commodities. It holds a dominant position in the global halal meat market and exports to more than 85 countries. The company is targeting $4 billion in revenue over the next few years.