DLF boss Singh richest real estate entrepreneur, Macrotech Developers' Lodha second: GROHE-Hurun list
Realty major DLF Chairman Rajiv Singh is the richest real estate entrepreneur having wealth of Rs 1,24,420 crore
image for illustrative purpose
Mumbai: Realty major DLF Chairman Rajiv Singh is the richest real estate entrepreneur having wealth of Rs 1,24,420 crore, followed by Macrotech Developers founder Mangal Prabhat Lodha, according to GROHE-Hurun list.
Gautam Adani, who otherwise is India's second richest person, has been ranked third on the list of real estate tycoon in the GROHE-Hurun list released on Thursday. Hurun Report released the '2024 GROHE-Hurun India Real Estate 100', ranking India's most successful real estate companies by value. It has also presented a list of the wealthiest real estate entrepreneurs in the country.
Value and wealth calculations are a snapshot of May 31, 2024. Macrotech Developers' founder Mangal Prabhat Lodha and family stood at second position with wealth of Rs 91,700 crore. "Gautam Adani and family secured the third position with a wealth of Rs 56,500 crore, marking a 62 per cent increase since 2023. Known for his strategic acumen and vision, Gautam Adani has steered Adani Realty into the top 10 in this year's list," Hurun said in a statement.
Vikas Oberoi of Oberoi Realty is at fourth position with wealth of Rs 44,820 crore, followed by Chandru Raheja & family of K Raheja Group (Rs 43,710 crore), Atul Ruia of The Phoenix Mills (Rs 26,370 crore), Raja Bagmane of Bagmane Developers (Rs 19,650 crore), Jitendra Virwani of Embassy Office Parks (Rs 16,000 crore). Irfan Razack, Rezwan Razack and Noaman Razack of Prestige Estates Projects hold the ninth spot on the list, each with a wealth of Rs 13,970 crore, marking a significant increase of 230 per cent.
Among companies, DLF secures the top spot with a valuation of Rs 2 lakh crore, a growth by 72 per cent in its valuation. At a current valuation of Rs 1.4 lakh crore, Macrotech Developers has seen its valuation grow by 160 per cent compared to last year, securing the 2nd position. The Indian Hotels Company (IHCL) or famously known as the Taj Group ranks 3rd in the list with a valuation of Rs 79,150 crore, reflecting a 43 per cent 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. With a valuation of Rs 77,280 crore, Godrej Properties, a subsidiary of the Godrej Group, ranks fourth. The Oberoi Realty, established by Vikas Oberoi, secured the 5th spot with a valuation of Rs 66,200 crore.
Prestige Estates Projects holds the sixth position with a valuation of Rs 63,980 crore, while Adani Realty, part of the Adani Group, ranks seventh with a valuation of Rs 56,500 crore. Adani Realty 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).
The Phoenix Mills ranks 8th with a valuation of Rs 55,740 crore, while K Raheja Group occupies the ninth position with a valuation of Rs 55,300 crore. Embassy Office Parks, valued at Rs 33,150 crore, holds the tenth spot in the list.
