Company Summary 

Asian Paints Ltd is India’s largest and Asia’s third-largest paint company. It is located in Mumbai and was founded in 1942. Since then, it has evolved into a multinational company with operations in 15 different countries and sales in 60 countries worldwide. The company contains a range of different products from paints to home decor, including industrial adhesive and waterproofing solutions as well. It has a market capitalisation of around ₹2.25 trillion as of October 2025. Asian Paints is considered the most valuable company in India and controls over 59% of the market share. It has grown through strategic partnerships and innovation, along with a distribution network that reaches more than 1.6 lakhs contact points in India.

History and Early Challenges

The story of Asian Paints started in 1942 during the Second World War. At that time, the import of paints was banned in India. It was founded by four friends, Champaklal Choksey, Chimanlal Choksey, Suryakant Dani, and Arvind Vakil, who started the company with a goal to provide high-quality but affordable paints for Indian homes. The starting years of the business were filled with competition from well-established foreign paint companies and a scarcity of resources.

As time passed, Asian Paints grew by focusing more on local manufacturing, maintaining good quality standards, and creating a huge network of dealers and retailers in India to make paints more accessible even in remote areas. They introduced different innovative products as well. Despite many challenges like supply chain, disruption or materials shortages after independence, Asian Paints expanded its operations at a very large scale in 1960 through its modern manufacturing plants. 

Business Portfolio and Product Excellence 

The company portfolio has three major segments: decorative paints, industrial coatings, and home decor. Its decorative paints have interior and exterior primers, wood finishes, emulsions, and metal paints. Asian Paints also produces waterproofing chemicals and adhesives to provide proper care solutions. 

In the industrial coatings product sector, Asian Paints works as a joint venture with PPG Industries, USA, to supply automotive coatings, powder coatings, and protective coatings. The automotive sector has big vehicle manufacturers, who allow Asian Paints to provide environmentally compatible and high-quality products. 

In recent years, Asian Paints has aggressively moved towards home decor, offering modular Kitchen options, bathroom fittings, lighting solutions and much more, catering to consumer lifestyles and choices. The company’s product quality is mostly driven by continuous research and development, product customisation, and sustainability initiatives like Low-VOC and eco-friendly formulas. 

Revenue Performance and Market Position 

Asian Paints’ financial performance has been quite strong, though recent years have shown pressures due to inflation and competition. For the year 2023-24, the company reported revenue of ₹341.82 billion, which is lower than the previous year’s ₹354.52 billion. Although the products held growth with decorative paints accounting for 88% total revenues, industrial coatings nearly 9% and home decor making up the remaining. Profit margins of Asian Paints saw some changes in 2024-25 due to rising prices and marketing expenses. The Q4 2025 earnings reported a net profit drop of about 44.9% YoY to ₹692 crore. 

Fiscal Year	Revenue (₹ Billion)	Net Profit (₹ Billion)
2023	354.52	–
2024	341.82	–
Q4 2025	–	6.92

Risk Management and Challenges 

Asian Paints faces multiple risks as part of its business environment. The major ones include raw material, price changes, especially for crude oil, drive, chemicals, pressure from both Indian and International brands, supply chain changes due to COVID-19 and some regulatory changes, including strict environmental rules.

To address these, Asian Paints follows a very strict risk management framework, which is governed by the board’s Risk Management Committee that aligns with ISO 31000 standards. It actively monitors emerging risks and implements strategies for improving operational efficiency. Recent challenges included aggressive pricing tactics by competitors and exiting the Indonesian market after some losses, reflecting some serious portfolio optimisation.

Strategies in the Market 

The market strategy used by Asian Paints is mainly based on differentiation through customer innovation and a fast distribution network throughout India. They spend over 10% of their revenue annually in marketing, which includes digital marketing, influencer marketing, and localised brand promotions.

It also follows a multichannel approach with 70,000 dealers across India, over 2000 exclusive, “beautiful Home “stores in Metro areas and e-commerce partnerships with Amazon and Flipkart. Internationally, Asian Paints customises products for regional tastes and regulations while building partnerships with new companies to enter new locations around the world. The company also focuses on expanding the home decor offering to get more into the holistic home improvement sector. 

Financial Performance and Projections 

Asian Paints’ recent financial performance shows resilience despite multiple challenges like intense competition and price changes. Key figures for the year 2024-25 include: 

Financial Metric	FY 2023-24	FY 2024-25	Change
Net Sales (₹ crore)	35,494.7	33,905.6	-4.5%
Other Income (₹ crore)	688.0	572.6	-16.8%
Total Revenue (₹ crore)	36,182.7	34,478.2	-4.7%
Gross Profit (₹ crore)	7,718.0	5,783.8	-25.1%
Profit Before Tax (₹ cr)	7,347.8	5,103.1	-30.5%
Profit After Tax (₹ cr)	5,557.7	3,709.7	-33.3%
Gross Profit Margin (%)	21.7	17.1	-4.6% pts
Net Profit Margin (%)	15.7	10.9	-4.8% pts
Debt to Equity (x)	0.0	0.0	Stable

Despite some term margin pressures and slowed revenue growth due to inflation and competition, Asian Paints has remained very strong in terms of the future. The company’s expansion into home decor and international markets is expected to drive more revenue growth. Analysts project recovery and profit margins as commodity inflation is lowered. Volume growth will occur after 2025. Healthy cash reserves and conservative debt levels provide financial stability to invest in future growth. 

Manufacturing Locations in India 

Asian Paints operates in 10 major manufacturing units dispersed across India. These plants are located for optimised production and better product distribution. 

Plant Location	State	Approximate Capacity (KL per annum)	Remarks
Khandala	Maharashtra	Varies (expanding)	Oldest plant, capacity expansion ongoing
Sriperumbudur	Tamil Nadu	Significant	One of the largest production hubs
Kasna	Uttar Pradesh	Capacity being increased	Near the National Capital Region
Rohtak	Haryana	Large capacity	Serves Northern India
Ankleshwar	Gujarat	Capacity increase underway	Industrial chemicals integration
Patancheru	Telangana	Large capacity	Strategic southern India plant
Mysuru	Karnataka	600,000 KL (after doubling)	Recently expanded significantly
Visakhapatnam	Andhra Pradesh	Operational	Supports eastern India
Taloja	Maharashtra	Operational	Near the Mumbai market
Sarigam	Gujarat	Operational	Industrial and decorative paints

Mysuru plant doubled production capacity to 600,000 KL per annum after an investment of Rs 1305 crore in 2024. Further capacity expansions are planned in Kasna, Ankleshwar, and Khandala, and a new facility in Madhya Pradesh with 400,000 KL capacity is expected by 2028, which will target water-based paint production. 

Key Principles 

The success of Asian pain is based on a few fundamental principles, which include customer focus, excellent quality, innovation, strong governance, and sustainability.

• Customer focus drives product development and better customer retention.
• Sustainability is practised through green manufacturing, water conservation, and community support.
• Strict quality checks with zero defect targets perfect leading standards. 
• Employee safety, diversity, and skill development for the company form the social commitment. 

Board of Directors (2025)

Asian Paints is led by a very strong and ambitious board of members who combine their expertise and strategies for the betterment of the company: 

• R Seshasayee: Chairman and Independent Director
• Manish Cholsi: Vice Chairman and Non-Executive Director 
• Amit Syngle: Managing Director and CEO
• Malav Dani: Non-Executive Director
• Amrita Vakil: Non-Executive Director
• Nehal Vakil: Non-Executive Director
• Jigish Choksi: Non-Executive Director
• Ashish Choksi: Non-Executive Director
• Milind Sarwate: Independent Director
• Ireena Vittal: Independent Director
• Soumitra Bhattacharya: Independent Director
• Dr Gopichand Katragadda: Independent Director
• Varun Berry: Independent Director

Growth Strategies and Market Expansion 

Asian Paints’ growth strategy is mainly based on these key areas: 

• Market Penetration: Asian Paints has made its presence in rural and semi-urban areas in India, where its growth is very high. The company also has over 1.69 lakh retail touch points and continues to expand its dealership towards remote regions.
• Product Innovation: expanding the product range with eco-friendly paints and home decor makes their product range more innovative. They also include long warranty periods and AI-driven personalised colour tools for GenZ customers.
• Digital Transformation: They use CRM tools and digital marketing to improve their customer engagement on social media.
• Manufacturing Expansion: increasing capacity across different plants to meet medium and long-term demand, including Greenfield projects, such as water-based manufacturing plants in Madhya Pradesh. 
• Sustainability Focus: Asian Paints avoids aggressive price cutting; instead, it competes with product quality, brand trust, and service excellence. 

Shareholding Pattern (Sept 2025) 

Owners	Holding (%)
Promoter Group	52.63
Foreign Institutions	11.85
Domestic Institutions	10.20
Mutual Funds	10.84
Retail Investors	14.48

Current Business Challenges 

Asian Paints has been going through some tough times recently. One big thing that is hitting the company is strong competition from new players like Birla Opus, which is trying to gain Asian Paint’s market share by offering lower prices on products. This has made Asian Paints reduce some of its product prices and spend more on promotions. Another challenge is the slowdown of sales in urban areas where many people are spending less due to higher living costs. This means fewer customers are repainting or buying home improvement products, especially from Asian Paints. 

Also, Asian Paints is facing pressure from strict environmental rules. It means that they have to spend more money on making products that follow the new laws, which are for environmental regulation. The legal investigation by the Competition Commission of India, recently, about how dominant Asian Paints is in the market has also added worries for the company. All of these factors combined have lowered their profits and caused their share prices to fall this year. 

Lessons From Asian Paints

The Asian Paints’ story and journey teach some very important lessons, especially to business owners. Firstly, even big companies cannot ignore competition and must keep innovating and improving to stay relevant in the market. Asian Paints is expanding beyond just paints into home decor, kitchen, and more, showing that they’re trying to be more than just a paint company.

Secondly, having a strong distribution network around India that reaches far and wide is very important. Asian Paints has built one of the largest dealer networks in India, which helps it sell to many customers despite being challenging.

Third, Asian shows that good leadership and clear focus on customers and sustainability, along with quality of products, are key to surviving through different situations. It also teaches to be ready to change strategies as the market and customer preferences change. 

Final Thoughts

Asian Paints, once a fast-growing top company, now faces some difficulties. It must balance surviving short-term hardships with planning for long-term goals. Even with declining profits and more competition, it has strong branding, a wider market reach, and a commitment to innovation. The future of this company will depend on how well it adapts to new market changes like changing customer habits and strict environmental laws.

The company’s move into new product areas like modular kitchens and more sustainable production shows it wants to remain profitable and relevant in the market for customers. If the company speaks to its core values and keeps building on its strengths, it can come out stronger in the coming years. So, although things look tough now, there is hope for recovery and continued leadership for Asian Paints. 

FAQs 

1. What is the main challenge Asian Paints is facing today?

The main challenge is competition from new brands and slower sales in cities in India. 

2. How are Asian paints trying to grow despite pressing challenges?

They are expanding home decor and improving their products. 

3. When was Asian Paints launched?

Asian Paints was founded in 1942. 

4. Who founded Asian Paints?

It was founded by four friends, Champaklal Choksey, Chimanlal Choksey, Suryakant Dani, and Arvind Vakil.

To learn more about Asian Paints and its remarkable journey, visit the official website of Asian Paints.

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Shayne Coplan, who started a betting platform called Polymarket, became the youngest self-made billionaire in the world. He is only 27 years old. This happened after Intercontinental Exchange, which owns the New York Stock Exchange, invested $2 billion in his company. The deal value is Polymarket at $8 billion, in total. It’s a big change for Coplan, who was broke and working from his bathroom just five years back. The company lets people make money on what they think will happen in politics, sports, and other world events.

From Broke Student to Billionaire 

Coplan dropped out of New York University and was really struggling with finances. Five years before, he was so poor that he looked around his apartment to see what stuff he could sell to pay rent. He lived in a small place on the Lower East Side of New York. When COVID started in 2020, he was 21 and almost out of money. That’s when he started building Polymarket from his bathroom because he didn’t have anywhere else to work.

He once wrote on social media about the heavy days. He said he had nothing to lose back then and hadn’t achieved anything, even though it was 2.5 years since leaving college. But he believed people would need a better way to figure out what’s true in the world. So he kept working on his idea. Now, Bloomberg’s list of billionaires includes him with other crypto billionaires like the founders of Binance and Coinbase. He is the youngest person ever to make it to a billionaire list by himself. 

Trouble With Law, Then Things Got Better 

Polymarket had some serious issues with the government before things got better. In the year 2022, a Government agency called the Commodity Futures Trading Commission said Polymarket was breaking some rules. They fined the company $1.4 million and forced it to stop letting Americans use this platform. Things even got a lot worse after the 2024 election. FBI agents actually went to Coplan’s apartment and searched it. This happened just one week after people spent more than $3 billion on the election through Polymarket. 

Everything changed when Trump became president again. In July 2025, both the Department of Justice and the CFTC stopped investigating Polymarket and didn’t charge it with anything. People who watch these things at Polymarket’s relationship with the government got much better after Trump became the President. Then, in August, Donald Trump Jr. joined the company as an advisor through his investment firm called 1798 Capital. This made the connection between Polymarket and the family even stronger. The company also bought another business called QCEX for $112million. 

Polymarket works by letting users bet on what will happen with different things. You can bet on who wins selections, sports, games, and economic news. The bets go through using cryptocurrency and smart contracts. 

News At Glance 

• Shayne Coplan becomes the world’s youngest self-made billionaire at the age of 27
• Coplan started this company during COVID from his bathroom
• Polymarket brought QCEX for $112 million to legally work in the US again
• This platform lets people bet on politics,  sports, and other events using crypto

FAQs 

1. How old is Shayne Coplan? 

He is a 27-year-old self-made billionaire. 

2. What does Polymarket do? 

It is a platform that allows people to bet money on political elections, sports, and other real-world events. 

3. How much is the company worth now?

The company is worth $8 billion after the $2 billion investment from ICE.

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Running a business is like going on a trip where you don’t always know the weather or what you’ll see along the way. Every person who starts something new feels unsure sometimes. They might worry about opening their shop, trying a new idea, or hiring someone who seems great. Even when you try your best to plan, things can take you by surprise, sometimes in good ways, sometimes not so good. Some people get stressed by all these unknowns, while others feel a rush of excitement when they face a challenge. Figuring out how risky you feel about things and what you’re comfortable with helps you make better choices. It helps you avoid regrets, lower your stress, and keep your work heading in the right direction for you.​

What Are Risk Personality Types?

People aren’t all the same when it comes to how they deal with life’s ups and downs. Each person has a kind of habit for handling tricky decisions. Some like to stay safe, some take risks, and lots are somewhere in the middle. These are what we call “risk personality types.” It just means how you deal with choices that feel risky. At work, this matters more than you might think. If you run a team or your own small business, the way you act when the future is unsure rubs off on the people around you. Learning what your style is helps you spot if you’re being too cautious or too daring, and you get to know what helps you work best or what sometimes gets in your way.​

Common Risk Personality Types in Business

The Careful Type

Some people always want proof before they do anything new. They like following plans and hate jumping into something without knowing almost everything about it. If you’re this type, you probably check facts, want time to decide, and follow routines that make you feel comfortable. This can help keep your business safe from sudden problems, especially if you’re handling money or making big decisions. But always saying “no” to new things can make you miss out on chances that might really help you. If all you do is play it safe, you might get stuck or let other people race ahead with ideas that you were too slow to try.​

The Balanced Type

Some folks aren’t too afraid of risk, but they aren’t wild either. They look at the good and the bad, and usually want a bit more information before making moves. This steady way of working means things don’t often go wrong, but sometimes they don’t move ahead very fast either. These people make careful choices and sometimes prefer talking things over with friends before acting. They feel best when there’s a mix of adventure and caution, making some bets but keeping plenty of backup plans in case things go sideways. It’s an easy style for working with others who like both action and careful steps.​

The Adventurous Type

Some people really love new ideas and don’t get scared easily when it comes to trying out something wild. They might launch a new product quickly or open a shop without much warning. These risk-takers are great at getting things going fast and keeping a team full of positive energy. Their confidence helps them turn problems into opportunities, but sometimes they move so fast they miss warning signs. If you’re this type, slowing down once in a while for a second look can stop problems before they become too big to fix. Being bold is good—but only if you keep a clear eye out for trouble ahead.​

The Planned Adventurer

Some people are both bold and careful. They like trying new things, but only after doing their homework. They check what’s worked for others, gather ideas from friends, and don’t mind making a backup plan just in case. This style works when you want to get the most out of a chance but not lose too much if things go wrong. Good calculated risk-takers are good at finding hidden chances but not jumping on every idea without thinking first. Sometimes, though, thinking too much makes it hard to get moving, so knowing when to let go and trust yourself is important too.​

Why Risk Personality Matters in Business

How you deal with risk changes so many things at work, how fast you go, how many chances you take, and how you solve problems. If you’re very careful, you might not grow as quickly or try new things, but you’ll dodge more mistakes than others. If you act quickly and boldly, you can beat others to great ideas, but you might trip and fall if you’re not careful. Both styles have good sides and tricky sides, and both need a calm head and a bit of help from others who see the world a little differently. Being aware of your own way helps you talk to your team, lead with kindness, and celebrate both wins and mistakes as learning steps.​

Finding and Using Your Risk Type

To figure out your own risk personality, you just need to notice what you do when you have to make a hard decision. Think about times when you had to act fast or when you felt nervous about change. Did you want to wait and watch? Or did you want to make the decision, did you just trust your gut feeling, or did you just check every detail before making the right decision? Sometimes talking with friends with people at work helps you see yourself more clearly.

Some people use different quizzes or tests, but advice can come from anyone who has worked with you or helped you make bigger decisions or see you in Delhi life. The main thing is being honest with yourself. When you know what makes you feel okay or what makes you worry, you can plan better and get advice where you need it the most. So to understand your risk personality, try to be more self aware and ask about yourself from people around you, who know you well.

Aligning Risk Personality with Business Strategy 

If you know you are very careful by nature, it can help to work with people who like new things and aren’t afraid to try something new. When you want to make a change, it’s smart to test with small step instead of making a big decision. Use facts to help you feel less afraid so you can take the leap at new ideas without feeling anxious.

if you enjoy big moves, try spending time with people who ask lots of questions and plan things out. This will make things very easier for you. They will help you slow down enough to check every problem before you take the risk. Always think about what could go wrong and have solutions to fix it. If things don’t work out the way you want them to. Confidence is good, but make sure you’re not getting ahead of yourself in business, especially.

If you’re somewhere in the middle, sometimes careful, sometimes, use that to help your business stay steady. You can calm down the big dreamers and give the careful people the motivation to keep trying things. Keep things moving forward, and don’t wait for everything to be perfect before you start. Work as a team and let each person bring in their own ideas, and help where they are stronger. 

Risk Personality Types in Real Business  

There are multiple famous stories about people in business that show her risk personality works. Elon Musk is a big example; he’s known for being brave and backing his own money through adventures like building rockets and electric cars, even when people thought he would fail at every step. Warren Buffett, on the other hand, makes slow and safe choices, looking at how things will last for years instead of weeks. Sarah Blakeley is another great example, as she began her company with a small amount of money, but spent lots of time learning about her idea and work and how she could succeed.

None of these people tries to be someone they weren’t. They learned what they were good at and used it to their advantage. By sticking to their style and making plans that they are, they found ways to grow and win in business.

Know Your Risk Personality To Grow in Business 

Knowing your own risk style is like getting a map for tough times. Instead of guessing, you look at what comes easily and what trips you up. When you understand how you make choices, you can build a stronger business, have your team work well together, and worry less about making mistakes or wrong choices. You don’t need to change who you are; you just need to make sure that your ideals and plans fit your style. Build a team with different strengths and stay open to new ideas. That way, you’re ready for whatever turns up, and you can face challenges with a clear mind. 

FAQs 

1. How do I know my risk style?

To know your risk style, think about the past choices you have made and then ask people you trust about what they notice. 

2. Can my risk style change?

Yes, as you try new things, you might become more open. 

3. Is it okay to be careful every time while taking risks?

Being careful protects you, but don’t let it stop you from trying something new when it really matters. 

4. What’s the best way to use my risk type?

The best way to reduce your risk type is to make plans and decisions that match your natural style and that others help with parts you find tough.

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There are failure chapters in every success story that the majority of people never read. Vijay Shekhar Sharma, the founder of Paytm, who made it a household name, knows this reality more than any Indian entrepreneur. Before he became a billionaire and changed the way millions of Indians pay, he saw two of his ventures fail even when he tried his best. His path from a small town in Uttar Pradesh to the pinnacle of India’s startup universe is full of setbacks that taught him more than any business school ever could. This is the article about those failures and the man who would not let them define his destiny.

Early Life 

Vijay Shekhar Sharma was born on July 8, 1978, in Aligarh, a humble town in Uttar Pradesh. His father, Sulom Prakash Sharma, was a schoolteacher, while his mother, Asha Sharma, managed the household. The family struggled on a shoestring, and money troubles were a way of life. As the third of four children, Sharma lived among poverty and saw how financial need treated people’s dignity and possibilities with slight respect. At 12, he saw peers who couldn’t even afford basic shoes and he went to school in plain chappals. These experiences in his formative years left a serious impression on his perception of economic inequality. 

The greatest challenge Sharma had to overcome wasn’t poverty but the language gap that separated him from his aspirations. He studied in a Hindi-medium government school in Harduaganj, where English was hardly heard. In a country where opportunities gravitated towards those who could speak fluent English, this left him at a big disadvantage. But Sharma discovered an unorthodox solution to this issue. He began learning English on his own by listening to rock music, repeating the same songs over and over again until he knew all the words. This self-taught manner of learning was a consistent trend in his life. He succeeded when he got admission into Delhi College of Engineering at the age of 15. Being admitted to a top engineering college was a big step, but it was just the first part of an extremely difficult path.

Struggling At Engineering College

Delhi College of Engineering was like a whole different world to Sharma. The majority of students were from English-medium schools and urban settings, speaking a language with ease and talking about technical terms. Sharma attended lectures in which he could hardly make out the words being spoken by professors. He and his friends would memorize English-written answers during exam time without actually knowing the questions themselves. It was a harsh learning method. He learned programming languages on his own and began creating simple websites. This experience taught him that education was only one source of information, and learning from oneself could be equally strong.

In 1997, in his second year at the college, something changed in the way Sharma thought. He took a copy of the Forbes magazine from a nearby market and learned about technology like as Apple, Intel, and Hewlett-Packard. What caught his attention most was that all of these corporations began in garage basements with hardly any resources. He wished to travel to Silicon Valley and observe that innovation environment for himself, but his family could not afford international travel. Rather than being discouraged, he decided on a bold course of action. If he could not make it to Silicon Valley, he would replicate it right here in India. That was the start of his entrepreneurial life. 

The First Venture: XS Corps and the Search Engine Dream

In 1997, Sharma founded a small company with his college friend Harinder Takhar, and they called it XS Corps. They were both 19, still in their second year of engineering, with much more ambition than experience in business. Their target was ambitious for two college students: creating India’s first homegrown search engine. It was the late 1990s when the internet was booming across the globe. Google had just begun operations, Yahoo was making a name for itself in every household, and the search engine space seemed to be the wave of the future. They worked day and night over the next two years, coding late at night, developing features, and attempting to create something that would be able to compete with big player companies. They were able to develop indiasite.net, something they had in mind as a wide-ranging search service for Indian content.

Reality, however, caught up with creating a search engine in a way that was much more nuanced than their early optimism. Search engines involve gigantic server infrastructure, heavy capital outlay, and extensive technical know-how in algorithms and data handling. Two dorm room-based college students simply did not have access to these resources. The technology needed outpaced their ability, and the expenditures were too much without outside funding. They went to speak with possible investors, but no one wanted to fund two inexperienced businesspeople from a small town with an untested idea. 

The Indian startup scene in the late 1990s was far different from what it is now, and venture capital was very difficult to obtain. Lacking proper funding, the vision to develop India’s version of Google faded slowly. The failure compelled them to make a pragmatic choice. Rather than keep pursuing something unachievable, they shifted their focus to developing a content management application that assisted media businesses in handling their digital content. It wasn’t the breakthrough product they had envisioned, but it kept the business afloat and earned some revenue.

Selling the First Company

In 1999, indiasite.net was bought out by US Lotus Interworks for $1 million. On the face of it, this seemed an incredible accomplishment for two college students. Local press could have labelled it a triumph, and friends likely praised Sharma for his success. But to Sharma, the sale was more a matter of conceding defeat than winning a victory. The search engine he had envisioned never existed. The business he sold was a ghost of the one he began with. The exit earned money, but it also earned him a feeling that his first venture as an entrepreneur had not succeeded in its very basic goal. A portion of the profits was used to settle his father’s debts, which satisfied him to some extent and contributed to the welfare of his family. 

His parents, happy that the danger period of startups was now over, encouraged him to take up a secure corporate career. Sharma attempted to work for others, but conventional employment suffocated him. Corporate hierarchy and structure were not for his personality or aspirations. He aspired to create something. The experience with XS Corps had also taught him several lessons, but at the same time, it left him with unresolved business. He was not willing to leave entrepreneurship at all despite the frustration of his first venture failing to reach its full potential. 

Beginning One97 Communications

In 2000, Sharma created One97 Communications with a new vision. He aimed to establish an online directory that was accessible by SMS messages on cell phones. This was years ahead of the time when smartphones were not common in India. The majority of individuals were using simple Nokia phones, yet SMS usage was booming throughout the country. Sharma envisioned a chance to provide useful content and services via basic text messages. The business model looked simple and promising. Users would send an SMS to inquire about specific information such as cricket scores, astrology readings, news and updates, or entertainment. One97 would present that content immediately, at a small fee per message. Phone companies would take the fee from users in the form of their phone bills and then pass a percentage to One97. The service was rolled out rapidly to cover exam results, ringtones, jokes, and other value-added services that users desired.

Technology performed exactly as envisioned, with users expressing real interest in the service. On-paper revenue numbers were promising, with thousands of SMS requests daily. Sharma felt he finally had a viable business model that addressed an actual issue for Indian mobile users. The business appeared to be on a firm footing, and expansion forecasts envisioned a rosy future. All was going as planned after the failure of his initial business. But there was a fatal flaw lurking in the background that Sharma did not expect. The business model had a flaw that would almost kill all he was creating.

The Cash Flow Nightmare

The issue with One97 was not the product or the demand for the market. The issue was getting paid. Sharma came to realize that it was extremely hard to get money back from telecom operators in India. Operators would wait months before making payments, citing reasons of processing time and admin issues. Some operators just did not pay at all, citing arguments over usage data or the terms of the contract. The firm was making money on its books, with good transaction volumes and growth rates. However, the cash wasn’t coming in, at least not directly into the bank account of One97. Sharma got the toughest of lessons that most entrepreneurs learn too late: paper revenue is worthless if you can’t receive it. A firm can be profitable on the books while at the same time being broke enough to not be able to afford salaries and bills. This difference between accounting profits and real cash turned into a nightmare that took all of Sharma’s energy and resources.

With no payment collections team to rely on and no legal muscle to compel operators to make timely payments, One97 began hemorrhaging money at a rapid pace. In 2003, things turned desperate. The entrepreneur who had sold his first company for $1 million was now personally bankrupt. To make ends meet and continue paying essential costs, Sharma did whatever work he could, such as repairing computers on a daily wage. His sister’s wedding was near, and the family required Rs 2 lakh for the wedding. His father, who had a clean financial history and a secure teaching career spanning decades of service, was rejected a simple bank loan. Sharma was shaken by this rejection because it revealed how flawed India’s financial system was for the common man. Even a person with stable income and good credentials could not get simple credit when required. If this was happening to educated, working people, what possibility did millions of Indians living in poverty have of receiving financial services?

Selling Stake in His Company

Things were so bad that Sharma had the terrible decision of either seeing the company fail or sacrificing a huge part of it to stay alive. He had to sell 40% of One97 to an angel investor for a mere Rs 8 lakh. This was a small percentage of what the company could have been worth had things gone differently. The offer was like losing his dreams one by one just to keep the business afloat. The company he had worked so hard to build from the ground up, pouring his time and energy into every detail, was slipping away from him. He was 25 years old, financially ruined, and seeing his second business venture tank despite his best efforts. 

After two back-to-back failures the rational thing to do would have been to accept that entrepreneurship didn’t work and seek stable employment. But Sharma wouldn’t let go. The failures were devastating, yet they were also teaching him lessons worth a lifetime. From XS Corps, he learned that wonderful ideas require proper infrastructure, timing, and resources to thrive. Having a wonderful idea is not sufficient if you are unable to implement it with proper funding and guidance. From his cash flow crisis at One97, he realized that fundamentals of business are more important than new ideas. Revenue is irrelevant if you are not able to collect it. 

Learning from Rock Bottom

The experience of seeing One97 on the brink of collapse altered Sharma’s way of thinking about business and the world in general. He came to realise that India’s financial system was basically broken for ordinary citizens. His father, a well-educated professional with years of clean financial records, was unable to secure a Rs 2 lakh loan for his daughter’s wedding. If his own father had to undergo this rejection, what about the millions of Indians working in the informal economy without documents or a credit history? What about the auto-rickshaw drivers, street vendors, small shopkeepers, and daily wage labourers with no access to formal banking services? These were the things that kept Sharma up at night and made him realise what India really needed. 

The nation didn’t require another snazzy technology product for city elites. It required financial inclusion that touched all, irrespective of their economic background or educational qualification.

Having been a victim of clients who failed to pay on time had landed Sharma in intractable situations, but those stinging experiences gave him clarity regarding real problems worth fixing. He knew from firsthand experience what it is like to have money due to you but be unable to collect it in an efficient manner. He felt the stress of operating a business where cash flow could vanish despite having customers and revenues. He had felt the indignity of being financially able but not being able to get access to basic financial services when necessary. 

The Road to Paytm

One97 Communications did not perish absolutely, although it was perilously close to destruction once. Sharma would not allow it to fold absolutely. He introduced new partners who shared his vision, reorganised the company’s operations around sustainability, and continued to push ahead in spite of monumental odds. The mobile content delivery business gradually stabilised and brought in enough revenue to keep the company going. It wasn’t changing the world, but it existed. That existence kept Sharma in the running long enough for the next opportunity to arise. By 2010, the Indian technology environment had undergone a revolutionary change. Smartphones were becoming reasonably affordable and within reach of middle-class Indians. Mobile Internet connectivity was rapidly improving. And Sharma had waited for ten years to learn precisely what normal Indians required from financial services through his own horrible experience.

Taking a direct cue from his father’s loan rejection and his own nightmare with cash flows and collections, Sharma started Paytm in 2010. The platform began as a minimalist mobile recharge service, where individuals could recharge their phone accounts through an app rather than purchasing physical recharge cards. It was addressing a real, pressing issue that millions of Indians faced on a regular basis. The business model was simple, with transparent cash flow from day one. There were no slow collection cycles or flaky partners keeping the money back. Transactions were instantaneous, and money travelled in real time. All that Sharma learned from his earlier failures was channelled into structuring Paytm differently. The emphasis was to address real issues for regular people, not on pursuing fashionable technology ideas. The business fundamentals were strong, with sustainable unit economics and transparent avenues to profitability.

From Failure to Billion-Dollar Success

The rest of Sharma’s story is now a part of Indian startup history. The government’s demonetization policy of November 2016 overnight fueled the adoption of digital payments. Paytm was a household name in urban and rural India within weeks. But to refer to it as an overnight success would be profoundly misleading. That moment of explosive expansion was founded on 16 years of hard work, repeated failures, stinging lessons, and relentless effort in spite of crushing defeats. Sharma was named India’s youngest billionaire in 2017, with Forbes valuing him at $1.3 billion. He was ranked 1567 on the list of Forbes Billionaires and included among Time Magazine’s 100 most influential people in the world. The fellow who fixed computers for a day’s wages in 2003 had done the unthinkable only 14 years later.

Now, One97 Communications is the parent entity of Paytm, which has radically altered the way hundreds of millions of Indians make payments, send money, and get access to financial services. The same organisation that was on the verge of death in 2003 became the epicentre of India’s digital payments revolution. Sharma’s path to becoming a billionaire from a Rs 10,000-a-month struggler is now a case study in business schools for resilience and perseverance. But the success story is only comprehensible when you know the failure stories leading up to it. Without XS Corps educating him on execution difficulties, without One97’s cash crunch educating him on business fundamentals, Paytm would perhaps never have been constructed the way it is.

The Person Behind the Success

Individuals who work with Sharma say he is exceedingly modest and down-to-earth for someone with such massive wealth and clout. He is truly kind and approachable, treating workers and colleagues alike with dignity, irrespective of rank. He is widely recognised for his passion for rock music, tracing back to how he learned English himself during his teenage years. His company and industry conference speeches are sincere and moving, appealing to people based on authenticity instead of corporate sheen. He does not hide his failures or claim that things were easy. Rather, he shares candidly his failures, errors, and desperate times. This vulnerability makes him stand out among billionaire CEOs, who are mostly careful to present smooth public personas.

Sharma’s peers admire that he really knows what hardship is because he went through it. He knows the fear of having no money with which to pay for next month’s rent. He knows the shame of taking on odd jobs to get by while your business is in danger of collapse. He understands what it is like to sell part of your business for a fraction of its value because you are desperate. That first-hand experience teaches him empathy and perspective that one can’t read in books or inherit through privilege. His failures made him a wiser and more empathetic leader. He doesn’t take his success for granted because he remembers how quickly everything can unravel. He learns from failure as a teacher, not as an enemy, openly communicating his failures to young entrepreneurs so they will learn without having to pay the same hurtful price.

Why the Failures Mattered

Sharma’s tale catches the imagination not because he succeeded, but because he failed over and over and in public before winning. Most entrepreneurs do finally succeed, but few have two full business failures and still get up enough nerve to try again. XS Corps showed him that great ideas require proper implementation, sufficient funds, strong infrastructure, and timely implementation to gain success. Passion and vision are not enough without the realistic resources to implement ideas. One97’s cash flow hell taught him that revenue numbers don’t count if you can’t even collect money. It taught him that business fundamentals like cash management and payment cycles matter more than exciting growth projections. Both failures taught him resilience, humility, and the importance of understanding your customers’ real problems at a deep level.

If XS Corps had succeeded in becoming India’s search engine, Sharma might have become wealthy much earlier, but he probably never would have built Paytm. Had One97 grown up nicely without the cash crunch, he may never have realised the financial exclusion faced by hundreds of millions of Indians. The setbacks granted him perspective and understanding that success by itself could never have provided. They instilled in him the wisdom to concentrate on finding workable solutions for the common man instead of pursuing flashy-sounding technology fads. Those bitter lessons formed the unseen pillars of Paytm’s success. Sharma is frequently heard saying that his failures taught him far more than his triumphs ever could. That mentality, created through real adversity, is what makes his tale worth anyone attempting to create something worthwhile. Success established on the premise of failure has a higher chance of withstanding since it is constructed with sense derived from suffering.

FAQs

1. What businesses did Vijay Shekhar Sharma initiate prior to establishing Paytm?

Prior to starting Paytm in 2010, Sharma established XS Corps in 1997 with Harinder Takhar, which was sold for $1 million in 1999, and One97 Communications in 2000, which faced cash flow issues before it went on to become Paytm’s holding company.

2. Why did Vijay Shekhar Sharma’s initial business undertaking fail to reach its target?

XS Corps was not able to construct its initial vision of developing India’s first search engine due to Sharma and his co-founder not having the enormous infrastructure, large amount of capital investment, and technical assets needed, and had to shift to content management software.

3. What made Vijay Shekhar Sharma sell a part of his second venture?

In One97’s cash crisis in 2003, Sharma was compelled to offload 40% of the company for a paltry Rs 8 lakh to an angel investor as he was short of money and the business was on the brink of collapse.

4. When did Vijay Shekhar Sharma become India’s youngest billionaire?

Sharma became India’s youngest billionaire in 2017 with a net worth of $1.3 billion, earning recognition on the Forbes Billionaires list at rank 1567 and being named among Time Magazine’s 100 most influential people.

Dive deeper into Vijay Shekhar Sharma’s inspiring journey and entrepreneurial insights through his Instagram, LinkedIn, X, and explore Paytm’s official website for more.

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Indian Railway Minister Ashwini Vaishnav said on Thursday that India will get its first bullet train by August 2027. He made this announcement at a meeting in Mehsana, Gujarat. The train will be running between Mumbai and Ahmedabad, covering a distance of 508 km. Right now, if you want to travel between these two cities by train, it takes more than six hours. The new bullet train will do the same journey in just two hours. This is a big step for India because very few countries in the world have bullet trains. 

Building Work is Going Well 

The majority of the construction has already been done. The teams have built 323 km of the race track for the bullet train. They’ve also put up 399 km of concrete pillars that hold up the track. There are now 17 bridges built above rivers and 14 other bridges made of concrete and steel. The workers have also laid down 211 km of the track base and put up more than 400,000 barriers that will reduce noise. 

Japan is helping India build this military train. They are giving money for this project, about 81% of the total cost. The total cost is around ₹1.08 lakh crore. Japan is helping India with this money as a loan, and India will have to pay back in over 50 years, with an interest rate that is very low at 0.1%. Japanese officials even came to visit the construction sites in Surat in Mumbai, earlier this month, to see the progress. The train will use Japanese technology, which is what Japan’s trains use.

What This Means For People 

The train will make the journey between Mumbai and Ahmedabad much easier. The route will have 12 stops, starting from Bandra Kurla Complex in Mumbai and going all the way to Sabarmati near Ahmedabad. People who travel for work will save a lot of time on this journey. Tourists will also find it simple to explore both states.

The project will also help the economy grow. More businesses will be able to work together because travel will become much faster. Hotels, restaurants and shops near the station will get more customers. Jobs will be created during construction and later when the train starts running. Gujarat has already seen a lot of railway development in recent years. 

News At Glance 

• The first bullet in India will start running in August 2027, from Surat
• The complete route from Mumbai to Ahmedabad will be completed in just two hours with 12 stations
• Japan is paying 81% money for the project at just a 0.1% interest rate
• The Indian trains are using Japanese technology 

FAQs 

1. When does the bullet train start in India?

The first phase of the bullet train will start in August 2027. 

2. The bullet train will cover the distance from where?

It will begin from Mumbai to Ahmedabad and will cover the route in just two hours.

3. India is using what kind of technology to build the bullet train?

India is using Japanese technology. 

4. How many stations will be there?

There will be a total of 12 stations from Mumbai to Ahmedabad.

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A man is now being interviewed by police after a woman passed away at a residence in Melbourne’s northern suburbs. Emergency services made their way to Gottloh Street in Epping at approximately 5.50 pm on Thursday evening after a person called saying they had discovered a woman unresponsive. Paramedics attempted to revive the 44-year-old Epping woman, but she perished at the scene.

Police allege the woman seemed to have been badly injured in an attack. A man aged 50 from Lalor was arrested on Wednesday night and is currently speaking with detectives. The two individuals were known to each other, police say. Roads around Gottloh Street have been cordoned off while officers collect evidence and attempt to determine what exactly occurred.

Crime Scene Investigation Continues

Police established a crime scene on the property that remained overnight and into today. Detectives have been stationed at the Epping house gathering evidence and interviewing neighbours. Police towed away a silver Hilux truck from the location early this morning, although they won’t comment on how it relates to the investigation.

The streets surrounding the property continue to be closed off with police tape as the investigation continues. Police are urging anyone who witnessed or heard anything suspicious in the vicinity last night around 5.50 pm to come forward. Anyone who has information can contact Crime Stoppers on 1800 333 000 without revealing their identity.

News At Glance

• A woman was discovered dead at the Epping residence on Gottloh Street on Thursday night at approximately 5.50 pm 
• The 44-year-old seemed to have been severely attacked prior to death
• Paramedics were unable to save her despite efforts on the scene
• A 50-year-old Lalor man was arrested and is being questioned by police
• The man and the woman were acquaintances, as per the investigators
• The crime scene is still active, with streets remaining cordoned off
• Authorities requesting witnesses to call Crime Stoppers

FAQs

1. Has anyone been charged?

A 50-year-old Lalor man was arrested, but police are continuing to interview him.

2. Did the victim and suspect know each other?

Yes, police indicated the man and woman were acquainted with one another.

3. Where exactly did this incident occur?

At a home on Gottloh Street in Melbourne’s northern suburbs.

4. How can people assist the investigation?

Anyone who has information should ring Crime Stoppers on 1800 333 000.

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The Labor Party came out fighting against the Liberal Party, accusing them of using the same tactics that Donald Trump used in America. Government minister Julian Hill, responsible for citizenship matters, will address the Melbourne audience on Friday when he will make the case for how Labor operates the immigration program. He’s targeting Liberal MPs such as Andrew Hastie, accusing them of attempting to frighten people about migrants for political gain.

This entire battle began heating up after Hastie got fired from his shadow minister position last week. Opposition leader Sussan Ley informed him that he will no longer work on immigration policy. But Hastie and other Liberals have been busy proclaiming Australia has “mass migration” and accusing migrants of the housing shortage and congested infrastructure. The Labor Party maintains that this is not true, and the figures confirm this.

Migration Really Declining, But Opposition Refuses to Acknowledge It

Hill is going to inform the conference that net permanent migration remained at 185,000 this year, precisely the same as in the previous year. The total figures actually went up by 40% from a record high post-COVID. What they refer to as net overseas migration reached nearly 556,000 last September 2023. Now it’s around 316,000.

So why did it increase in the first place? According to Hill, it’s due to those who were already here on temporary visas extended their stays because they could get good jobs. It wasn’t the government granting lots of new visas like the Liberals continually accuse. Now those temporary workers are beginning to depart, and the figures are falling. Treasury estimates it will continue to fall to approximately 230,000 annually by the end of the decade.

Hill Declares Liberals Allowed Pauline Hanson to Grab Party

The Minister of Labor isn’t holding back. He’s calling names, Andrew Hastie and Jacinta Nampijinpa Price of the Northern Territory, for starters. “It’s not a few populists or extremists, Hastie, Price and their clique, blowing the dog whistle now; the Liberals are all following the coward’s path,” Hill will say. That’s quite heated language for parliamentary speak.

He believes the Liberal Party has undergone a complete transformation. “Pauline Hanson now lives rent-free inside their heads,” the speech says. That’s a shot at how the Liberals appear to be copying One Nation’s anti-immigrant messages.  Hill is calling on Sussan Ley to come out and tell us precisely where she’d reduce immigration if the Coalition forms government, and why that would affect businesses that are having trouble finding workers. Hastie said a few weeks ago that the current migration leaves Australians “feeling like strangers in our own home”, which is a lot of what Trump has to say in America. The Coalition’s actual immigration man, Paul Scarr, doesn’t approve of the word “mass migration”, but lots of other Liberal MPs continue to use it anyway.

News At Glance 

• Liberals accused of mimicking Trump’s immigration fear campaign by Julian Hill
• Net migration reduced 40% from a record high of 556,000 to around 316,000
• Permanent migration remains at 185,000 same as in other years
• Andrew Hastie lost his shadow minister role due to the immigration position last week
• Treasury predicts migration will level out at 230,000 annually by the end of the decade

FAQs

1. Is immigration really getting out of hand in Australia?

No, figures fell 40% from their peak and continue to drop.

2. Why did immigration increase after COVID?

Temporary workers already present remained for longer periods as they were able to get good jobs quickly.

3. What happened to Andrew Hastie?

Sussan Ley removed him for handling immigration policy for the opposition last week.

4. How many people migrate to Australia on a permanent basis each year?

185,000, which has not changed from years gone by, despite what the critics are claiming.

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Britain has signed a major weapons deal with India worth £350 million, which equals about $468 million. The contract states that England will supply British-made lightweight missiles to the Indian Army as the two countries grow their defence partnership. British Prime Minister Keir Starmer announced the agreement during a meeting with Indian Prime Minister Narendra Modi in Mumbai.

This deal was made just months after the UK and India signed broader trade agreements. Both leaders talked about the business opportunities that this partnership brings. Britain is pushing hard to sell more weapons as part of its plan to boost their economy and meet defence spending targets set by NATO. 

Missiles Made in Northern Ireland To Be Sent to India 

Thales, a defence company with a factory in Northern Ireland, will make the lightweight missiles for India. The British Government says these contracts will affect about 700 jobs at the facility, which currently produces the same weapons being sent to Ukraine. These are very versatile missiles that can be used in different combat situations.

The announcement also hints at bigger things to come. Britain said that this deal makes the way for a broader weapons partnership with India, which is still being worked out between the two governments. That means more defence contracts could follow if negotiations go well.

Starmer Focuses on Defence Experts for Growth 

Prime Minister Starmer has spent the past year trying to turn the defence industry into a money maker. He promised to increase military spending to match what NATO wants from its member countries. At the same time, he’s looking for bigger export contracts like this one done with India to create jobs and economic growth in England.

Britain has announced another deal with India on Thursday, too, at two £50 million agreements for electric-powered engines for naval ships. This is the next phase of an existing partnership between the two countries. Star Wars recently secured a big $13.5 billion contract to sell frigates to Norway, showing how seriously it is taking defence exports as an economic strategy. 

News At Glance 

• UK signs $468 million missile deal with India for lightweight weapons
• Contract protects 700 jobs at Thales factory in Northern Ireland
• The deal was announced during PM Keir Starmer’s visit to Mumbai
• A different £250 million deal was signed for an electrical naval engine by England to Norway 
• The Thales factory is currently making missiles

FAQs 

1. How much is the UK-India missile worth?

The contract is worth £350 million.

2. What kind of weapons will Britain supply to India?

Britain will provide lightweight multirole missiles made by Thales in Northern Ireland. 

3. How many jobs does the deal protect?

Around 700 jobs will be secured due to this deal.

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The Nobel Prize in literature for 2025 goes to Hungarian author László Kransznahorkai. He writes dark stories about broken words and lost hope. The Swedish Academy announced that they picked him for his powerful writing that shows how art matters even when everything seems to be falling apart. The 71-year-old literature writer will get 11 million Swedish crowns, which is equal to about $1.2 million, along with the famous Nobel Prize.

Kransznaharkoi enjoys a long list of great writers who have won the Nobel Prize since 1901. He is only the second Hungarian to get the Nobel Prize; the first was Imre Kertész in 2002. The Academy praised him as a master storyteller in the central European style, comparing him to famous writers like Franz Kafka and Thomas Bernhard. His books contain absurd situations with horrifying events, but they also have quite thoughtful moments that look towards Eastern philosophy. 

From One Book to a Lifetime of Writing 

Kransznahorkai told Swedish radio something very surprising after winning. He meant to write one book, after his first novel “Satantango” came out in 1985, he edited and thought he could do a lot better. So he wrote another one to fix when he saw his mistakes in the first book. “My life is a permanent correction,” he said about his writing process.

When he was asked to drive his work, he said it very simply. “I’m very sad if I think of the status of the world now, and this is my deepest inspiration,” he explained. American critic, Susan Soni called him the “master of the Apocalypse: after reading his second book. His stories take place in forgotten villages across Central Europe, and later in China and Japan, places that leave a deep mark on him during his travels to these places.

Books About Broken Dreams and Fallen Systems 

His breakthrough novel Satantango shocked Hungarian readers when it was published. The story happens on a dying collective farm in the Hungarian countryside right before communism collapsed. A bunch of poor, desperate people live there, waiting for something good to happen to them, but the book starts with a quote from Kafka that basically says waiting for miracles means that you’ll miss them. 

Collective farms like the one in this book were set up in the communists took over and forcefully grabbed people’s land. In 1989, when communism ended, most of these farms had become a symbol of poverty and failure. His second major book, “The Melancholy of Resistance”, is about a circus that comes to town with a dead whale as its main attraction. The Academy said his writing shows the “brutal struggle between order and disorder” where “none may escape the efforts of terror.”

A Writer Who Speaks His Mind Openly 

Kransznahorkai doesn’t hold back his opinion about politics. He criticised Hungarian Prime Minister Viktor Orban harshly, calling his Government a psychiatric case because of how they’ve handled the Ukrainian war. Orban doesn’t want to send military help to Ukraine, and Hungary should stay neutral in this situation. “How can a country be neutral when the Russians invade its neighbouring country?” he asked in an interview earlier this year. 

About Laszlo Kransznahorkai 

One 1954 and Gyula, a small town in Southeast Hungary near the Romanian border, Kransznaharkoi grew up in a country which was controlled by communists. His childhood in this environment shaped a lot of his writing, which of an explosive life under a system and what happens when those systems crumble. He is obsessed with Franz Kafka’s work, especially “The Castle”, and also said When I’m not reading Kafka, I am thinking about Kafka. When I am not thinking about Kafka, I miss thinking about him.”

His writing style is very unique; he uses incredibly long sentences that can stretch for pages without a break. Besides novels, he writes essays and works closely with filmmakers and musicians as well. He splits his time between different countries and speaks frankly in interviews about his love for freedom and despair about the state of the world. At 71, he continues to write and travel, always looking for ways to improve his craft while documenting what he calls “the bitterness” that inspires his work. 

News At Glance 

• Hungarian author László Krasznahorkai wins 2the 025 Nobel Prize in Literature
• He is the second Hungarian to receive the prize after Imre Kertész in 2002
• He will also receive 11 million Swedish crowns, which is about $1.2 million, for the award
• His first novel was published in 1985

FAQs 

1. Who won the 2025 Nobel Prize in Literature?

Laszlo Kransznaharkoi has won the 2025 Nobel Prize in literature for his powerful stories, one broken world and apocalyptic themes. 

2. What is his most famous book?

“Satantango”, published in 1985, is his first book, which became a literary sensation in Hungary. 

3. How much money does the Nobel Prize winner get?

He will be awarded 11 million Swedish crowns, which is equal to $1.2 million. 

4. Has any other Hungarian won this before?

Yes, Imre Kertész has one Nobel Prize in literature in 2002.

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