Hyderabad: As many as 29 companies from Telangana have found place in a list of top 500 most valuable companies in India. These companies are ranked according to their value, defined as market capitalisation for listed companies and valuations for non-listed companies. This is based on a report by Hurun India and Burgundy Private, Axis Bank's Private Banking Business.

Divi's Laboratories, Hindustan Zinc and Dr Reddy's Laboratories stood among first three in Hurun India top 500 list of companies from Telangana with value of Rs 1.37 lakh crore, Rs 1.31 lakh crore and Rs 77,540 crore respectively. This list refers to companies headquartered in India only. State-owned companies and subsidiaries of foreign companies are not included in the list.

Anas Rahman Junaid, MD and Chief Researcher, Hurun India said: "The list is a sanguine representation of the evolution of the economy. Telangana contributed 30 companies, which are cumulatively valued at Rs 6.9 lakh crore. The list is led by Aurobindo Pharma, Dr Reddy's Laboratories, Divi's Laboratories, Laurus Labs, and Bharat Biotech."

Telangana is home to some of the most valuable pharmaceutical companies in 2021 Burgundy Private Hurun India 500. The companies from the State employ around 2 lakh people in total, with an average of 6,918 employees. The average age of companies from the State in this list is 32 years, that is, founded in 1989.

Six companies from Telangana in 2021 list have doubled in their value. Healthcare led the way with 15 companies, followed by software and services and chemicals with three entrants each. Total sales of companies from Telangana in the list cumulated to Rs 1.8 lakh crore, equivalent to 18 per cent of the State's gross state domestic product.

The total value of the companies listed in 2021 Burgundy Private Hurun India 500 is close to Rs 228 lakh crore ($3 trillion), which is higher than India's gross domestic product (GDP) for FY2021. The top line of these 500 companies is equivalent to 29 per cent of India's GDP and they employ up to 1.5 per cent of the total workforce of the country.

Amitabh Chaudhry, MD & CEO of Axis Bank said: "We appreciate these companies who have ably steered their businesses through the ravages of the pandemic, adopting new ways of serving their customers and emerging as winners. What is most heartening is that nearly 10 per cent of these companies are younger than 10 years, representing India's vibrant tech ecosystem."

"We believe that India's new economy companies will witness greater representation in this list in the times to come. Axis Bank has been a partner to many names that find a mention in this report, and through our integrated 'One Axis' approach, we look forward to working closely with them as they achieve greater milestones in their journey ahead," he said.