DLF’s Rajiv Singh is the richest builder in India: IIFL Wealth Hurun India Rich List 2021


42 builders make it to IIFL Wealth Hurun India Rich List 2021

The impact of the Coronavirus notwithstanding, wealth owned by real estate developers in India has grown in 2021 when compared to the previous year, shows the IIFL Wealth Hurun India Rich List 2021.  The rich list of 1,007 Indians, which is topped by Reliance Industries Ltd chairman Mukesh Ambani for the 10th time in a row, has as many as 42 builders.

While builders with strong monetary standing and proven credentials gained market share, the sector reported a 49% increase in wealth in 2021, when compared to last year, the list shows.

 

Top-10 richest people on IIFL Wealth Hurun India Rich List 2021

Name Wealth in Rs crores
Mukesh Ambani and family 7,18,000
Gautam Adani and family 5,05,900
Shiv Nadar and family 2,36,600
SP Hinduja and family 2,20,000
LN Mittal and family 1,74,400
Cyrus S Poonawalla and family 1,63,700
Radhakishan Damani and family 1,54,300
Vinod Shantilal Adani and family 1,31,600
Kumar Mangalam Birla and family 1,22,200
Jay Chaudhry 1,21,600

Source: IIFL Wealth Hurun India Rich List 2021

When it comes to the real estate sector, Delhi-headquartered DLF’s Rajiv Singh and family topped the list, with a wealth of Rs 54,100 crores. In the overall rich list, Rajiv Singh and family are placed at the 23rd spot.

The second spot on the list was claimed by Chandru Raheja and family of the K Raheja Group, with a wealth of Rs 38,900 crores.  The family’s overall ranking in the rich list is 31.

On the third spot in the rich list is Niranjan Hiranandani (with an overall ranking of 38) of Nidar with a wealth of Rs 34,100 crores.

The fourth position in the rich list is occupied by Jitendra Virwani of Embassy Office Parks, who has an overall ranking of 69, with a wealth of Rs 23,700 crores.

Placed on the fifth position at the Rich list 2021 is Vikas Oberoi (82nd rank on overall list) of Oberoi Realty, with a wealth of Rs 20,200 crores.

See also: All about Mukesh Ambani house

5 richest builders in India in 2021

Builder Company
Rajiv Singh DLF
Chandru Raheja and family K Raheja Group
Niranjan Hiranandani Hiranandani Group
Jitendra Virwani Embassy Office Parks
Vikas Oberoi Oberoi Realty

 Source: IIFL Wealth Hurun India Rich List 2021

Bengaluru-based Bagmane Developers’ Raja Bagmane, with his overall ranking of 92, is placed at the sixth position in the list.

Hurun India Rich List is a ranking of individuals, with a net worth of Rs 1,000 crores and more and has grown to become the most comprehensive rich list from India. Over the last decade, the list grew from 100 individuals from 10 cities to 1,007 richest Indians, from 76 cities.

 

City-wise distribution of rich Indians in 2021

In the rich list for 2021, Delhi, at 39, added the most number of rich Indians, followed by Mumbai and Bangalore. However, 25% rich people on the list were from India’s financial capital Mumbai.

See also: All about Harshad Mehta Property

Richest Indians in 2021 : Zodiac sign-wise

Cancerians saw 92% increase in their wealth in the last one year in spite of the adverse conditions caused by the COVID-19 pandemic.

 


Lodha tops GROHE Hurun India Real Estate Rich List 2020

March 24, 2021: Mangal Prabhat Lodha of Mumbai-based Macrotech Developers is India’s richest person on the GROHE Hurun India Real Estate Rich List 2020, unveiled on March 23, 2021. With wealth that totaled up to Rs 44,270 crores in 2020, undergoing a 39% year-on-year increase, Lodha, 65, has managed to hold the top position in the list for the fourth time in a row.

In a list of 100 richest real estate developers in India, Rajiv Singh of DLF and Chandru Raheja of K Raheja Corp followed Lodha at the second and third positions in the list, respectively.

 

Top-10 developers in GROHE Hurun India Real Estate Rich List 2020

Rank Name Wealth in Rs crores Company City of residence Primary sector
1 Mangal Prabhat Lodha and family 44,270 Macrotech Developers Mumbai Residential
2 Rajiv Singh 36,430 DLF New Delhi Commercial
3 Chandru Raheja and family 26,260 K Raheja Mumbai Commercial
4 Jitendra Virwani 23,220 Embassy Office Parks Bengaluru Commercial
5 Niranjan Hiranandani 20,600 Hiranandani Communities Mumbai Residential
6 Vikas Oberoi 15,770 Oberoi Realty Mumbai Residential
7 Raja Bagmane 15,590 Bagmane Developers Bengaluru Commercial
8 Subhash Runwal and family 11,450 Runwal Developers Mumbai Residential
9 Ajay Piramal and family 6,560 Piramal Realty Mumbai Residential
10 Atul Ruia and family 6,340 Phoenix Mills Mumbai Commercial

Source: GROHE Hurun India Real Estate Rich List 2020

 

Half of the top-10 richest developers on the list are from the residential segment while the other half are active in the commercial segment. Seven of the top-10 builders on the list are from the Mumbai market, two are from Bengaluru and one from New Delhi. Overall too, Mumbai is home to 31 of the richest real estate developers in India, while Delhi has another 22 of them.

In an indication that real estate remains largely resilient in the face of the Coronavirus pandemic, the report says that 65% of builders in the list saw their wealth increase during the year. The top nine listed companies in list – DLF, Godrej, Embassy, Oberoi, Brigade, Prestige, Suntech, Sobha and Indiabulls – have almost recovered the losses they have registered since the lockdown, the report added. However, the cut-off for the top-10 list has reduced from average Rs 6,560 crores in 2019 to Rs 6,340 crores in 2020.

 

Top real estate companies in India

Even though Lodha is the wealthiest builder in India, it is DLF that happens to be the top builder in India, based on its market capitalisation. Godrej and Embassy follow DLF in the second and third positions, respectively. Oberoi Realty and Mindspace Business Parks are placed at the fourth and fifth positions in that order.

 

Top-5 real estate companies by market capitalisation

Company Market cap in Rs crores Promoter Primary sector
DLF 57,637 Rajiv Singh Commercial
Godrej Properties 36,086 Godrej family Residential
Embassy Office Parks 32,680 Jitendra Virwani Commercial
Oberoi Realty 21,198 Vikas Oberoi Residential
Mindspace Business Parks 19,024 Chandru Raheja and family Commercial

Source: Hurun Research Institute 2020. GROHE Hurun India Real Estate Rich List 2020

 

GROHE Hurun India Real Estate Rich List 2020: The debutantes

As many as 27 individuals have made a debut on the GROHE Hurun India Real Estate Rich List 2020. These include Atul and Sagar Chordia of Panchshil Realty, Getambar Anand of ATS Infra, and Ankur, Varun and Vishal Gupta of Ashiana Housing.

 

India real estate rich list 2020 debut

Name Net worth in Rs crores Company
Atul Chordia and family 3,830 Panchshil Realty
A Mohan Raju and family 3,430 Kalyani Developers
Kumar Pritamdas Gera and family 1,290 Gera Developments
Pankaj Bajaj and family 1,170 Eldeco Infrastructure and Properties
Satish P Chandra and family 1,050 Global Tech Park
GV Rao and family 1,010 SAS Infra
Kabul Chawla and family 940 BPTP
Sagar Chordia and family 590 Panchshil Realty
G Madhushudhan and family 570 Sumadhura Infracon
Apurva Salarpuria and family 540 Salarpuria Properties
Getamber Anand and family 510 ATS Infrastructure
Naresh Jagumal Karda and family 400 Karda Constructions
Dharmendra Bhandari 320 Bestech India
Sunil Satija 320 Bestech India
Punit Beriwala 300 Vipul
Srikant Krishnan 290 Skyline Foundations and Structures
Lava Krishnan 290 Skyline Foundations and Structures
KV Satish 290 DS Max Properties
Kulwant Singh and family 280 Janta Land Promoters
Rahul R Katyal 280 Capacite Infraprojects
Abhay Chandak 280 Chandak
Aditya Chandak 280 Chandak
Manish Uppal and family 280 Uppal Housing
Ankur Gupta 260 Ashiana Housing
Varun Gupta 260 Ashiana Housing
Vishal Gupta 260 Ashiana Housing
Sanjay S Lalbhai and family 250 Arvind SmartSpaces

Source: Hurun Research Institute 2020. GROHE Hurun India Real Estate Rich List 2020

 

The youngest and the oldest

With 36 years of age, Aditya Chandak of Chandak Group with his Rs 280 crores net-worth is the youngest person on the list while East India Hotels’ PRS Oberoi, 91, is the oldest.

 

Star zodiac signs

The list has also categorised the wealthiest real estate developers, based on their zodiac signs. With 14% share, Aquarians top the list while Pisceans and Geminins contribute 11% share each. The wealthiest Aquarian on the list is Jitendra Virwani while the richest Piscean and Gemini are Niranjan Hiranandani and Subhash Runwal, respectively.

 

The self-made men

Lodha also topped the list of top-10 self-made people while Jitendra Virwani and Niranjan Hiranandani stood at second and third spots, respectively.

 

Top 10 self-made real estate developers in India

Name Company Net worth in Rs crores
Mangal Prabhat Lodha and family Macrotech Developers 44,270
Jitendra Virwani Embassy Office Parks 23,220
Niranjan Hiranandani Hiranandani Communities 20,600
Raja Bagmane Bagmane Developers 15,590
Subhash Runwal and family Runwal Developers 11,450
Rameshwar Rao Jupally and family My Home Constructions 5,450
C Venkateswara Reddy Aparna Constructions and Estates 5,230
S Subramanyam Reddy Aparna Constructions and Estates 5,180
Roop Kumar Bansal M3M India 4,970
Basant Bansal M3M India 4,940

Source: Hurun Research Institute 2020. GROHE Hurun India Real Estate Rich List 2020

 

The leading companies

While Lodha is ranked the top company in the residential segment, DLF has the same ranking in the commercial space. All five top-rated builders in the residential segment are based in India’s financial capital, Mumbai.

 

Top residential developers

Rank Name Company Net worth in Rs crores City
1 Mangal Prabhat Lodha and family Macrotech Developers 44,270 Mumbai
2 Niranjan Hiranandani Hiranandani Communities 20,600 Mumbai
3 Vikas Oberoi Oberoi Realty 15,770 Mumbai
4 Subhash Runwal and family Runwal Developers 11,450 Mumbai
5 Ajay Piramal and family Piramal Realty 6,560 Mumbai

 

Top commercial property developers

Rank Name Company Net worth in Rs crores City
1 Rajiv Singh DLF 36,430 New Delhi
2 Chandru Raheja and family K Raheja 26,260 Mumbai
3 Jitendra Virwani Embassy Office Parks 23,220 Bengaluru
4 Raja Bagmane Bagmane Developers 15,590 Bengaluru
5 Atul Ruia and family Phoenix Mills 6,340 Mumbai

 

Top affordable housing developers in India

Hyderabad-based Aparna Constructions and Estates has emerged in the list as the top developer catering to affordable housing in India. According to government-defined rules, units of up to Rs 50 lakhs are counted as affordable properties in India.

 

Rank Name Company Net worth in crores Change (%) City
1 C Venkateswara Reddy Aparna Constructions and Estates 5,230 Revalued Hyderabad
2 S Subramanyam Reddy Aparna Constructions and Estates 5,180 Revalued Hyderabad
3 Bijay Kumar Agarwal and family Sattva Developers 4,170 290% Bengaluru
4 Errol Fernandes Ferns Estates and Developers 1,640 8% Bengaluru
5 Harshavardhan Neotia and family Ambuja Neotia 1,440 -18% Kolkata

Source: Hurun Research Institute 2020. GROHE Hurun India Real Estate Rich List 2020

 

Top property developers by city

According to the list, the market hold of developer varies from city to city. This is why there are no overlaps, when it comes to being the dominant real estate player in a market.

 

City Name Main company Company value in Rs crores
New Delhi Rajiv Singh, Pia Singh amd Renuka Talwar DLF 57,637
Bikramjit Ahluwalia and family Ahluwalia Contracts 1,781
Rohtas Goel and family Omaxe 1,498
Mumbai Mangal Prabhat Lodha and family Macrotech Developers 47,098
Adi Godrej, Jamshyd Godrej, Nadir Godrej, Rishad Naoroji and Smita V Crishna Godrej Properties 36,086
Vikas Oberoi Oberoi Realty 21,198
Bengaluru Jitendra Virwani Embassy Office Parks 32,680
Raja Bagmane Bagmane Developers 14,437
Irfan Razack, Noaman Razack and Rezwan Razack Prestige Estates Projects 10,662
Hyderabad C Venkateswara Reddy and S Subramanyam Reddy Aparna Constructions and Estates 9,513
Rameshwar Rao Jupally and family My Home Constructions 4,957
Pune Atul Chordia and family, Sagar Chordia and family Panchshil Realty 5,113
Rajesh Anirudha Patil and family and Milind Kolte and family Kolte-Patil Developers 1,856
Gurugram Roop Kumar Bansal and Basant Bansal M3M India 9,200
Dharmendra Bhandari and Sunil Satija Bestech India 627
Kolkata Apurva Salarpuria and family Salarpuria Properties 1,732
Harshavardhan Neotia and family Ambuja Neotia 1,690
Noida RK Arora and family Supertech 694
Getamber Anand and family ATS Infrastructure 635
Thane Shailesh Puranik and family Puranik Builders 944
Chennai M Arun Kumar Casagrand 703

 


Mumbai dominates GROHE Hurun India Real Estate Rich List 2018, followed by New Delhi and Bengaluru

Mumbai is home to the most number of rich real estate tycoons, followed by New Delhi and Bengaluru, with the three cities accounting for 78 per cent of those in the top 100 rich list, according to a study by Hurun Report and GROHE India

Housing News Desk

November 21, 2018: Mumbai is the most preferred city of residence for real estate tycoons in India, with 35 names hailing from the city, followed by Delhi (22) and Bengaluru (21), according to the ‘GROHE Hurun India Real Estate Rich List 2018’, featuring the richest real estate entrepreneurs in India.

Mumbai, New Delhi and Bengaluru were home to 78 per cent of the top 100 rich-listers. The list, released by Hurun Report and GROHE India, is topped by Mangal Prabhat Lodha (aged 62) of the Lodha Group, with total wealth of Rs 27,150 crores. He is followed by Jitendra Virwani (aged 52) of the Embassy Group at number two with total wealth of Rs 23,160 crores and Rajiv Singh (aged 59) of DLF at number three with total wealth of R 17,690 crores. The total wealth of the top 100 real estate barons featured in the list, accounted for Rs 2,36,610 crores (USD 32.7 billion) in 2018 – up 27 per cent against 2017 edition’s cumulative wealth of Rs 1,86,700 crores (USD 28.6 billion).

The list was compiled on the basis of the net worth of living Indians as on September 30, 2018 when the rate of exchange to the US dollar stood at Rs 72.46. The list relates to Indians only, defined as born or brought up in India.

 

GROHE Hurun India Real Estate Rich List 2018 by city

Rank City No of individuals Richest individual Net worth (Rs crores)
1 Mumbai 35 Mangal Prabhat Lodha 27,150
2 New Delhi 22 Rajiv Singh 17,690
3 Bengaluru 21 Jitendra Virwani 23,160
4 Pune 5 Atul Chordia 1,810
5 Hyderabad 4 Rameshwar Rao Jupally 3,370
6 Noida 2 RK Arora 510
6 Chennai 2 M Arun Kumar, KR Anerudan 680
6 Gurugram 2 Roop Kumar Bansal 1,990
6 Cochin 2 KV Abdul Azeez and family 650
10 Kolkata 1 Harshvardhan Neotia and family 1,880
10 Thane 1 Shailesh Puranik and family 370
10 Ahmedabad 1 Gautam Adani and family 2720

Source: Hurun Research Institute 2018. GROHE Hurun India Real Estate Rich List 2018

 

59 per cent of the names featured in 2018 edition of GROHE Hurun India Real Estate Rich List are first generation entrepreneurs. The average age of the participants is 59 years – with the youngest being 24 years (Kunal Menda of RMZ) and the eldest being of 89 years (Prithvi Raj Singh Oberoi of East India Hotels). The average wealth of the individuals in the list is Rs 2,366 crores. Only four names aged below 40 years were featured in the list, indicating that the experienced and long standing names build wealth in the long run from this sector in India. Nine women too feature on the list, with Renuka Talwar of DLF being the richest woman ranked 19. Among the 10 debutants in the list, Rameshwar Rao Jupally of My Home Constructions ranked the highest at 14, among the top 100.

 

Top 10 in the GROHE Hurun India Real Estate Rich List 2018

Rank Name Net worth (Rs crores) Main company City of residence
1 Mangal Prabhat Lodha 27,150 Lodha Mumbai
2 Jitendra Virwani 23,160 Embassy Bengaluru
3 Rajiv Singh 17,690 DLF New Delhi
4 Chandru Raheja 14,420 K Raheja Mumbai
5 Vikas Oberoi 10,980 Oberoi Realty Mumbai
6 Niranjan Hiranandani 7,880 Hiranandani Mumbai
6 Surendra Hiranandani 7,880 Hiranandani Singapore
8 Ajay Piramal and family 6,380 Piramal Realty Mumbai
9 Manoj Menda 5,900 RMZ Bengaluru
9 Raj Menda 5,900 RMZ Bengaluru

Source: Hurun Research Institute 2018. GROHE Hurun India Real Estate Rich List 2018

 

Commenting on the launch of the GROHE Hurun India Real Estate Rich List 2018, Anas Rahman Junaid, MD and chief researcher, Hurun Report India said, “The real estate sector in India has always been among the key wealth creators in the country. The combined wealth of the top 100 names listed by us in 2018 stands at USD 32.3 billion – or in other words, a billion dollars more than the GDP of Cyprus. It is also an industry that demands patience and persistence, with the average age of the participants on the list hovering around 59 years and accounting for 59 per cent of the first generation entrepreneurs. India perhaps accounts for the largest population of homeless people in the world and aptly, the government is embarking on its most ambitious housing program. At the same time, the Indian economy is back on track and is expected to uplift millions of people to better economic conditions, thereby, further improving the demand for the real estate across premium, residential, office and commercial segments. In the coming years, value creation in the wake of greater transparency and institutionalisation in the sector, is expected to take the sector to a new orbit.”

See also: Mumbai, New Delhi and Bengaluru are home to 73% real estate barons: Report

 

Top property developers in the residential category

Rank Name Company Net worth (Rs crores) City of residence
1 Mangal Prabhat Lodha Lodha 27,150 Mumbai
2 Vikas Oberoi Oberoi Realty 10,980 Mumbai
3 Surendra Hiranandani Hiranandani 7,880 Singapore
3 Niranjan Hiranandani Hiranandani 7,880 Mumbai
5 Ajay Piramal and family Piramal Realty 6,380 Mumbai

Source: Hurun Research Institute 2018. GROHE Hurun India Real Estate Rich List 2018

 

Debut in GROHE Hurun India Real Estate Rich List 2018 (Self-made entrepreneurs)

Rank Name Net worth (Rs crores) Company
1 Rameshwar Rao Jupally 3,370 My Home Constructions
2 Raja Bagmane 2,940 Bagmane Developers
3 Gautam Adani and family 2,720 Adani Realty
4 Roop Kumar Bansal 1,990 M3M India
5 Basant Bansal 1,980 M3M India
6 Patanjali Govind Keswani and family 1,870 Lemon Tree
7 Atul Chordia 1,810 Panchshil Realty & Developers
8 Anil Bhalla 990 Vatika
9 Suresh L Raheja and family 880 Raheja Universal
10 Vijay Vasudev Wadhwa 860 Wadhwa Group Holdings

Source: Hurun Research Institute 2018. GROHE Hurun India Real Estate Rich List 2018

 

GROHE Hurun India Real Estate Rich List 2018: The biggest gainers

No Name Wealth (Rs crores) Percentage change Company Primary segment
1 Manoj Menda 5,900 122% RMZ Commercial
2 Raj Menda 5,900 122% RMZ Commercial
3 Ajay Piramal and family 6,380 75% Piramal Realty Residential
4 Harshavardhan Neotia and family 1,880 66% Ambuja Neotia Residential
5 Jude Romell and Dominic Romell 720 61% Romell Real Estate Commercial
6 Sunil Mittal and family 1,230 54% Bharti Realty Commercial
7 Boman Rustom Irani 1,150 52% Keystone Realtors Residential
8 Percy Sorabji Chowdhry 580 52% Keystone Realtors Residential
9 Chandresh Dinesh Mehta 580 52% Keystone Realtors Residential
10 Jitendra Virwani 23,160 39% Embassy Commercial

Source: Hurun Research Institute 2018. GROHE Hurun India Real Estate Rich List 2018

 

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