Meet Lalit Khaitan, the 80-year-old man Who Became the Newest Billionaire in India

Lalit Khaitan
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Among the brands in Lalit Khaitan’s Radico Khaitan portfolio are Old Admiral Brandy, Magic Moments Vodka, Contessa Rum, Rampur Whisky, and 8PM Whisky.

Thanks to the explosive growth of his company Radico Khaitan in the liquor sector, Lalit Khaitan, the 80-year-old chairman of Delhi-based Radico Khaitan, has become the latest billionaire in India. According to resources, a $380 million distillery in Delhi is a major participant in this emerging market.

According to Forbes, the publicly traded company’s shares soared by more than 50% this year as a result of higher sales and the release of new drinks including Happiness in a Bottle gin. With his 40% share in the company, Khaitan’s success drove him into the three-comma club and an estimated $1 billion in net worth.

Radico Khaitan has a portfolio of brands that includes Old Admiral Brandy, Magic Moments Vodka, Contessa Rum, Rampur Whisky, and 8PM Whisky.

It was founded in 1943 as the Rampur Distillery and is currently one of India’s biggest and oldest producers of Indian Made Foreign Liquor (IMFL).

G.N. Khaitan, the late father of Lalit, bought the old Rampur Distillery and Chemical Company in the 1970s.

It was inherited by Lalit Khaitan in 1995, who changed it into Radico Khaitan. His son, industrial engineer Abhishek Khaitan, is currently in charge of the business.

He began his career at Radico Khaitan Limited in 1997 as the division leader for marketing. His first product, 8PM Whisky, sold a million cases in its first year and was inducted into the Limca Book of World Records. It was an incredible success.

Lalit Khaitan, a native of Kolkata who attended St. Xavier’s College and Mayo College, inherited Radico Khaitan Limited, a small liquor company at the time. Radico was effectively turned from a bottler to one of India’s top IMFL players by him.

In his dual roles as chairman and managing director, he sets strategic direction with an emphasis on raising customer satisfaction and quality standards. The corporation has grown its market shares and revenue significantly under his direction. Several professional honours were given to Dr. Khaitan in recognition of his accomplishments, including the esteemed ‘Lifetime Achievement Award’ from the UP Distillers Association in December 2017.

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