India’s most valuable real estate companies are been ranked according to their market capital.

Mumbai :

Hurun Report released the 2024 Grohe-Hurun India Real Estate 100, ranking India’s most successful real estate companies by value. It also presented a list of the wealthiest real estate entrepreneurs in the country. Value and wealth calculations are a snapshot of 31 May 2024.

India’s real estate economy is firing from all cylinders! 2024 Grohe-Hurun India Real Estate list of India’s 100 most valuable real estate enterprises include companies focusing on residential, commercial, hospitality, and co-working spaces. India’s real estate sector is experiencing a remarkable boom, driven by a rapidly growing middle class, robust economic expansion, and increasing investments. With the middle class projected to reach 547 million by 2030, residential sales are expected to grow 10-12% in FY 2024-25. Rising foreign investments of around $4 billion yearly are further catalysing growth.

DLF has emerged as the top real estate company in the 2024 GROHE-Hurun India Real Estate 100, with a valuation of Rs 2,02,140 Cr. Following DLF, Macrotech Developers holds the second position with a valuation of Rs 1,36,730 Cr, and Indian Hotels Company ranks third with Rs 79,150 Cr. Among the top 10 companies, 60% are headquartered in Mumbai, while two are based in Bengaluru and one each in Gurugram and Ahmedabad.

With a valuation of Rs 2 lakh crore, DLF secures the top spot on the 2024 Grohe-Hurun India Real Estate 100 post a growth by 72% in its valuation. Under the leadership of Devinder Singh, the company has been instrumental in shaping India’s urban landscape with a diverse portfolio spanning residential, commercial, and retail properties. DLF has ambitious plans, with projects worth approximately Rs 30,000 crore set to launch in the fiscal year 2025.

At a current valuation of Rs 1.4 lakh crore, Macrotech Developers has seen its valuation grow by 160% compared to last year, securing the 2nd position. Based in Mumbai and founded by Mangal Prabhat Lodha, Macrotech Developers recorded its highest-ever pre-sales of Rs 14,520 crore in FY24.

The Indian Hotels Company (IHCL) or famously known as the Taj Group ranks 3rd, with a valuation of Rs 79,150 cr, reflecting a 43% growth. Established by Jamsetji Tata in 1902 and led by Puneet Chhatwal, IHCL manages a diverse portfolio of luxury, premium, and business hotels across India and internationally. The company is also set to launch two new brands and plans to open 85 hotels in the fiscal year 2024-2025, focusing on Tier 2 and Tier 3 cities​.

With a valuation of Rs 77,280 crore, Godrej Properties, a subsidiary of the Godrej Group, ranks fourth on the 2024 GROHE-Hurun India Real Estate 100, having doubled its valuation with a 100% increase. Founded by Ardeshir Godrej, Godrej Properties is the first real estate company to have an ISO certification. The company has recently acquired a 7-acre land parcel in Bengaluru to construct a housing project worth Rs 1,200 crore.

With a valuation of Rs 66,200 crore (up 96%), The Oberoi Realty, established by Vikas Oberoi, secures the 5th spot. For the first time, Oberoi Realty has expanded into the National Capital Region (NCR) by acquiring 14.81 acres of land in Gurugram, Haryana, for Rs 597 cr.

Prestige Estates Projects holds the sixth position with a valuation of Rs 63,980 crore, following an exceptional growth rate of 230% over the past year. Under the leadership of Irfan Razack, Prestige Estates Projects demonstrates expertise in developing diverse properties, including residential complexes, commercial spaces, retail outlets, and hospitality ventures. Through its subsidiaries, the group has entered a deal with Abu Dhabi Investment Authority (ADIA) and Kotak Alternate Investment Fund (AIF) for Rs 2,001 crore and plans to develop projects with a gross development value (GDV) of Rs 18,000 crore across four cities: Bengaluru, Mumbai, Goa, and the NCR.

Adani Realty, part of the Adani Group, ranks seventh with a valuation of Rs 56,500 crore. Founded under Gautam Adani’s leadership, the company has grown by 62% this year and is the most valued unlisted company in the list. Earlier this year, Adani Realty emerged as the highest bidder for the redevelopment of a 24-acre plot at Bandra Reclamation land parcel, put up by the Maharashtra State Road Transport Corporation (MSRDC).

Founded by Chandru Lalchand Raheja, the K Raheja Group occupies the ninth position in this year’s ranking, with a valuation of Rs 55,300 crore. With a notable 65% growth over the past year, the group has established itself as a leader in developing premium residential complexes, commercial spaces, shopping malls, and luxury hotels in major Indian cities. K Raheja Corp has signed an agreement to jointly develop a 2.5-acre land parcel in Mumbai’s Worli, aiming for a luxury residential project with a revenue potential exceeding Es 2,000 crore.

India’s wealthiest real estate entrepreneurs

With a wealth of Rs 1,24,420 cr, Rajiv Singh from DLF leads the 2024 Grohe-Hurun India Real Estate Rich, followed by Mangal Prabhat Lodha from Macrotech Developers with Rs 91,700 cr at the second spot, and Gautam Adani & family from the Adani Realty with Rs 56,500 cr at third. Of the top 10 on the real estate rich list, five are from Bengaluru and four from Mumbai.

Vikas Oberoi, 54, of Oberoi Realty, has risen to the fourth position on the list following a wealth surge of 96%, reaching Rs 44,820 cr. Oberoi Realty has expanded into the National Capital Region (NCR) by acquiring 14.81 acres of land in Gurugram, Haryana, for Rs 597 cr.

Chandru Raheja and family of K Raheja Group has moved down by one to the 5th position on the list despite seeing wealth grow by 65% over the past year. Currently, the company is strategizing the redevelopment of SOBO Central Mall, India’s pioneering mall, into a luxurious high-end residential project.

Raja Bagmane, 64, of Bagmane Developers holds the seventh position with a wealth of Rs 19,650 cr, reflecting a 5% increase. Recently, the Bengaluru-based company leased 2.23 lakh sq. ft of office space to Texas Instruments for a monthly rent of Rs 1.4 cr.

Jitendra Virwani, 58, has secured the 8th position on the list with a wealth of Rs 18,000 cr, despite experiencing a 53% decrease in his wealth over the past year. Notably, he is the only individual in the top 10 to have seen a reduction in wealth from 2023. Embassy Group, under his leadership, has become one of India’s leading real estate developers, known for its commercial properties and office spaces.

Irfan Razack, 70, Rezwan Razack, 69 and Noaman Razack, 66, of Prestige Estates Projects hold the ninth spot on the list, each with a wealth of Rs 13,970 cr, marking a significant increase of 230%. Currently, Prestige Estates Projects manages 1,849 keys of hospitality assets across the country and plans to double its hospitality portfolio over the next three to four years, with a total investment of Rs 1,700 cr.

The 2024 Grohe-Hurun India Real Estate 100 came from 10 states, led by Maharashtra, Delhi Karnataka and followed by Haryana. By city, Mumbai led with 33 companies, followed by Bengaluru with 15, New Delhi with 14 Companies and Gurugram with 10.

The biggest gainer in valuation growth is New Delhi-based Unitech followed by Tata Realty and Puravankara. By year-on-year growth in absolute value, the biggest gainers were DLF, Macrotech Developers and Prestige Estates Projects.