IIMA Effect: 5 Alumni Leaders Driving Impact Across Industries
Nothing can truly prepare one for business leadership, however, thoughtfully designed management education comes close. A majority of India’s most influential business leaders often share a common foundation: the Indian Institute of Management Ahmedabad.
Speaking about the culture of excellence at IIMA, former Indian cricketer, Indian cricket commentator and a distinguished member of the 1985 Post Graduate Program cohort from the IIMA, Harsha Bhogle, said, “Good management education gives you exposure to all aspects of running an organization. And Indian Institute of Management Ahmedabad (IIMA) does so by placing you in a decision-making scenario through real-life situations. We weren’t always ready, but it made us aware of the process that goes into good decision-making. With the sheer quality and intellect of the group you are part of, and consequently the air you breathe, the width of knowledge is enormous”.
Established in 1961 through a unique collaboration between the Indian government, industry, and global partners, IIM Ahmedabad emerged as a pioneering force in management education. Since its inception, the institution has cultivated generations of leaders equipped to tackle real-world challenges with clarity and conviction. From India’s former RBI Gov, Raghuram Rajan to Former CEO, PepsiCo, Indra Nooyi, IIMA’s roster of successful alumni is long and illustrious.
As of June 2025, the institute has welcomed its 62nd batch of the flagship Two-Year Post Graduate Program in Management (PGP), continuing a legacy that blends academic rigor with practical insight. .
Rooted in academic rigor and real-world decision-making, IIMA’s approach to management education goes beyond theory, equipping students to navigate complexity with clarity and conviction.
Here’s a look at five alumni who have translated that foundation into impactful leadership across sectors.
Abhiraj Bhal, Co-founder and CEO, Urban Company (formerly UrbanClap)
Abhiraj Bhal, Co-founder and CEO of Urban Company (formerly UrbanClap), has established himself as one of the leading entrepreneurs in India’s startup landscape. Recognized for his strong problem-solving approach and customer-first vision, Abhiraj has been instrumental in reshaping the way home services are delivered and accessed across India and international markets.
His leadership comes at a time when India’s rapidly expanding instant home services sector has crossed 10 million monthly active users, highlighting the growing demand for app-based household assistance among urban consumers.
Urban Company continues to lead the market, recording 6.5 million monthly active users in March 2026. The company is currently valued at nearly $2 billion and has reported consolidated operating revenue of around Rs.1,145 crore ($176 million).
An alumnus of the IIMA, Abhiraj developed a strong foundation of resilience and discipline during his time on campus. The institute’s intense academic rigor and fast-paced environment pushed him to consistently perform at his best and adapt quickly to challenges. This experience ultimately shaped his ability to thrive under pressure, a quality that later became instrumental in his entrepreneurial journey.
Under his leadership, Urban Company has expanded internationally, entering markets in the Middle East, Southeast Asia, and beyond. This global footprint reinforces its position as a leader in the home services industry. The company’s growth has been supported by strong investor confidence and a relentless focus on maintaining quality at scale.
Abhiraj’s ability to combine innovation with empathy distinguishes him. He envisions a sustainable ecosystem where service professionals are not only skilled but also respected and financially secure. This philosophy has shaped Urban Company into a socially responsible enterprise that balances growth with impact. As the gig economy continues to evolve, Abhiraj’s work serves as a powerful example of how technology-driven platforms can create meaningful change.
Falguni Nayar, Founder & CEO, Nykaa
Falguni Nayar’s journey from a successful investment banker to the founder of Nykaa is regarded as one of India’s most inspiring entrepreneurial success stories. As the Founder, CEO, and CFO of the beauty and lifestyle giant, she has built a multi-billion-dollar platform that became India’s first woman-led profitable unicorn, transforming the way Indians shop for beauty, cosmetics, and fashion products.
Under her leadership, Nykaa continued its strong growth momentum in Q1 FY26, reporting an almost 80percent year-on-year increase in consolidated net profit to Rs. 24.5 crore from Rs. 13.6 crore in the corresponding quarter last year. On a sequential basis, profit also grew 29percent from Rs. 19 crore.
The beauty and personal care major posted operating revenue of Rs. 2,154.9 crore, up more than 23percent from Rs. 1,746.1 crore a year earlier and 5percent higher than Rs. 2,061.8 crore recorded in the previous quarter. Including other income of Rs. 9.3 crore, the company’s total income for the quarter stood at Rs. 2,164.3 crore, while expenses rose over 23percent year-on-year to Rs. 2,120.6 crore.
Born and raised in Mumbai, Falguni grew up in a business-oriented Gujarati family, where early exposure to entrepreneurship shaped her ambitions. She pursued her MBA at the prestigious IIM Ahmedabad, where she developed a strong foundation in business strategy and finance.
Before venturing into entrepreneurship, Falguni had a distinguished career in investment banking, working with global institutions such as Morgan Stanley and BNP Paribas. She later held leadership roles at Kotak Mahindra Group and ICICI Prudential, gaining deep expertise in financial services.
In 2012, at the age of 49, Falguni took a bold leap of faith and founded Nykaa. Her vision was to create a trusted platform that offered a curated selection of beauty and wellness products while ensuring authenticity and customer satisfaction. Starting as an e-commerce platform, Nykaa quickly gained popularity for its wide product range and superior service.
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Over time, Nykaa evolved into a multi-channel retail powerhouse, expanding into fashion and launching offline stores across India. Today, it offers millions of products from thousands of brands, catering to a diverse customer base. The company launched its IPO in 2021, trading on NSE and BSE.
Falguni Nayar’s success is measured not only by her financial achievements — she is widely regarded as India’s richest self-made woman — but also by the impact she has created through empowering women and promoting entrepreneurship. She has consistently supported initiatives that encourage greater female participation in business and leadership. Speaking to graduating students at the institute’s 57th annual convocation, Nayar reflected on the responsibility that comes with their education, saying, “Solve problems that others cannot solve. It has less to do with being from IIM-A and more to do with the faith your company places in you. Don’t let them down.”
Deep Kalra, Founder, MakeMyTrip
Deep Kalra, Founder of MakeMyTrip, is widely regarded as a pioneer of India’s online travel industry. His entrepreneurial journey reflects resilience, innovation, and the ability to transform setbacks into opportunities, playing a key role in changing how Indians plan and book travel.
Demonstrating the company’s continued growth momentum, MakeMyTrip reported a 10.7 percent year-on-year increase in fiscal 2026 IFRS revenue in constant currency terms. The company’s results from operating activities, described as equivalent to EBIT, also rose 30.1 percent year-on-year to $156 million.
Born in Hyderabad and educated at St. Stephen’s College, Delhi, Deep pursued his MBA at the Indian Institute of Management Ahmedabad. It was during his time at IIM-A that his entrepreneurial instincts began to take shape.
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After graduation, he started his career with ABN AMRO Bank. However, the corporate world could not contain his entrepreneurial ambitions. He ventured into bringing AMF Bowling to India, but the concept failed to gain traction. This setback forced him to return to corporate roles, including a stint at GE Capital.
The turning point came during the late 1990s internet boom. Inspired by the rise of digital platforms like Yahoo! and Google, Deep envisioned a platform that could simplify travel planning. In 2000, he launched MakeMyTrip with co-founders and initial funding.
Despite these challenges, MakeMyTrip gradually gained traction and went on to become India’s leading online travel platform. Today, it enables millions of users to book flights, hotels, and holiday packages with ease.
MakeMyTrip Limited listed on the Nasdaq in September 2010 and is now targeting Q1 2027 for its India IPO, as it explores a return to domestic stock markets.
Sambit Satapathy, Managing Director, Akshay Seeds
Sambit Satapathy, Managing Director of Akshay Seeds, is a seasoned leader with extensive experience in the agribusiness sector. His professional journey reflects a strong commitment to agricultural innovation, farmer-focused solutions, and sustainable growth, contributing significantly to the company’s presence in the seed industry.
Under his leadership, Akshay Seeds has continued to strengthen its position in the market. As of 2026, the unlisted private company generates estimated annual revenue of approximately Rs. 41.7 crore (around $4 million USD).
An alumnus of the Indian Institute of Management Ahmedabad (PGDM, 1992), Sambit began his journey with a strong academic foundation. Prior to IIM-A, he studied at the Odisha University of Agriculture and Technology, which sparked his interest in the agricultural domain.
During an interaction with CEO Insights, Sambit says, “Joining IIM Ahmedabad was a transformative experience. Coming from the Odisha University of Agriculture and Technology, I was initially apprehensive about fitting in with such a diverse and talented cohort. But IIM Ahmedabad provides more than just academics; it shapes personalities and builds confidence. The collaborative environment fosters learning beyond the classroom like teamwork, people management, problem solving abilities, innovative thinking and finding solutions, managing pressures, collaboration and cooperation and communication.”
“The support from peers is invaluable; if you struggle in a subject, there's always help from friends with different strengths. The institute molds raw talent into refined professionals, ready to face real-world challenges and lead teams effectively, turning every student into a finished product. It creates a profound impact on one’s personality and makes people more humble along with knowledge and skills,” adds Sambit.
Today, as the Managing Director of Akshay Seeds, Sambit leverages his global experience to drive innovation and growth in the agribusiness sector. His leadership focuses on improving agricultural productivity and creating value for farmers and stakeholders.
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Pranav Joshi, Partner, P. G. Joshi & Co.
A Chartered Accountant and alumnus of the Indian Institute of Management Ahmedabad, Pranav Joshi, is currently a Partner at P. G. Joshi & Co. LLP, a firm with over seven decades of experience advising businesses across audit, taxation, and consulting.
During an interaction with CEO Insights, Pranav says, “My time at IIMA was exceptional and profoundly transformative. The academic rigor, innovative pedagogy, and esteemed professors significantly shifted my thinking. The coursework introduced concepts and approaches that were new to me, fundamentally altering how I view various aspects of life. I was honored to be on the merit list and placed second in my batch.”
“As a CA, I had missed out on the traditional college experience, so attending IIMA was particularly thrilling. The prestige of the institution was an added bonus. During that year, I forged lasting friendships and professional connections, many of which continue to be valuable today. The greatest takeaway was the diverse perspectives brought by my cohort. Coming from a finance background, my group, or 'Syndi' as it's called at IIMA, had no one from finance. The varied viewpoints challenged and expanded my understanding, and I often reflect on how my batchmates might approach a problem for clarity. The real treasure from IIMA was the relationships with my syndimates, who remain my trusted advisors and sounding boards,” adds Pranav.
In conclusion, we can say that IIMA alumni embody a mindset shaped by rigor, resilience, and responsibility. The institute’s demanding environment not only sharpens analytical thinking but also instills the confidence to navigate uncertainty and lead with purpose. As they move across industries and geographies, IIMA alumni continue to translate their learning into meaningful impact, demonstrating that true leadership lies in informed decisions, adaptability, and a commitment to creating lasting value.