Lodha tops GROHE Hurun India Real Estate Rich List 2020


In an indication that real estate remains largely resilient in the face of the Coronavirus pandemic, the report says that 65% of the builders in the list saw their wealth increase during the year

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

RankNameWealth in Rs croresCompanyCity of residencePrimary sector
1Mangal Prabhat Lodha and family44,270Macrotech DevelopersMumbaiResidential
2Rajiv Singh36,430DLFNew DelhiCommercial
3Chandru Raheja and family26,260K RahejaMumbaiCommercial
4Jitendra Virwani23,220Embassy Office ParksBengaluruCommercial
5Niranjan Hiranandani20,600Hiranandani CommunitiesMumbaiResidential
6Vikas Oberoi15,770Oberoi RealtyMumbaiResidential
7Raja Bagmane15,590Bagmane DevelopersBengaluruCommercial
8Subhash Runwal and family11,450Runwal DevelopersMumbaiResidential
9Ajay Piramal and family6,560Piramal RealtyMumbaiResidential
10Atul Ruia and family6,340Phoenix MillsMumbaiCommercial

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

CompanyMarket cap in Rs croresPromoterPrimary sector
DLF57,637Rajiv SinghCommercial
Godrej Properties36,086Godrej familyResidential
Embassy Office Parks32,680Jitendra VirwaniCommercial
Oberoi Realty21,198Vikas OberoiResidential
Mindspace Business Parks19,024Chandru Raheja and familyCommercial

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

NameNet worth in Rs croresCompany
Atul Chordia and family3,830Panchshil Realty
A Mohan Raju and family3,430Kalyani Developers
Kumar Pritamdas Gera and family1,290Gera Developments
Pankaj Bajaj and family1,170Eldeco Infrastructure and Properties
Satish P Chandra and family1,050Global Tech Park
GV Rao and family1,010SAS Infra
Kabul Chawla and family940BPTP
Sagar Chordia and family590Panchshil Realty
G Madhushudhan and family570Sumadhura Infracon
Apurva Salarpuria and family540Salarpuria Properties
Getamber Anand and family510ATS Infrastructure
Naresh Jagumal Karda and family400Karda Constructions
Dharmendra Bhandari320Bestech India
Sunil Satija320Bestech India
Punit Beriwala300Vipul
Srikant Krishnan290Skyline Foundations and Structures
Lava Krishnan290Skyline Foundations and Structures
KV Satish290DS Max Properties
Kulwant Singh and family280Janta Land Promoters
Rahul R Katyal280Capacite Infraprojects
Abhay Chandak280Chandak
Aditya Chandak280Chandak
Manish Uppal and family280Uppal Housing
Ankur Gupta260Ashiana Housing
Varun Gupta260Ashiana Housing
Vishal Gupta260Ashiana Housing
Sanjay S Lalbhai and family250Arvind 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

NameCompanyNet worth in Rs crores
Mangal Prabhat Lodha and familyMacrotech Developers44,270
Jitendra VirwaniEmbassy Office Parks23,220
Niranjan HiranandaniHiranandani Communities20,600
Raja BagmaneBagmane Developers15,590
Subhash Runwal and familyRunwal Developers11,450
Rameshwar Rao Jupally and familyMy Home Constructions5,450
C Venkateswara ReddyAparna Constructions and Estates5,230
S Subramanyam ReddyAparna Constructions and Estates5,180
Roop Kumar BansalM3M India4,970
Basant BansalM3M India4,940

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

RankNameCompanyNet worth in Rs croresCity
1Mangal Prabhat Lodha and familyMacrotech Developers44,270Mumbai
2Niranjan HiranandaniHiranandani Communities20,600Mumbai
3Vikas OberoiOberoi Realty15,770Mumbai
4Subhash Runwal and familyRunwal Developers11,450Mumbai
5Ajay Piramal and familyPiramal Realty6,560Mumbai

 

Top commercial property developers

RankNameCompanyNet worth in Rs croresCity
1Rajiv SinghDLF36,430New Delhi
2Chandru Raheja and familyK Raheja26,260Mumbai
3Jitendra VirwaniEmbassy Office Parks23,220Bengaluru
4Raja BagmaneBagmane Developers15,590Bengaluru
5Atul Ruia and familyPhoenix Mills6,340Mumbai

 

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.

 

RankNameCompanyNet worth in croresChange (%)City
1C Venkateswara ReddyAparna Constructions and Estates5,230RevaluedHyderabad
2S Subramanyam ReddyAparna Constructions and Estates5,180RevaluedHyderabad
3Bijay Kumar Agarwal and familySattva Developers4,170290%Bengaluru
4Errol FernandesFerns Estates and Developers1,6408%Bengaluru
5Harshavardhan Neotia and familyAmbuja Neotia1,440-18%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.

 

CityNameMain companyCompany value in Rs crores
New DelhiRajiv Singh, Pia Singh amd Renuka TalwarDLF57,637
Bikramjit Ahluwalia and familyAhluwalia Contracts1,781
Rohtas Goel and familyOmaxe1,498
MumbaiMangal Prabhat Lodha and familyMacrotech Developers47,098
Adi Godrej, Jamshyd Godrej, Nadir Godrej, Rishad Naoroji and Smita V CrishnaGodrej Properties36,086
Vikas OberoiOberoi Realty21,198
BengaluruJitendra VirwaniEmbassy Office Parks32,680
Raja BagmaneBagmane Developers14,437
Irfan Razack, Noaman Razack and Rezwan RazackPrestige Estates Projects10,662
HyderabadC Venkateswara Reddy and S Subramanyam ReddyAparna Constructions and Estates9,513
Rameshwar Rao Jupally and familyMy Home Constructions4,957
PuneAtul Chordia and family, Sagar Chordia and familyPanchshil Realty5,113
Rajesh Anirudha Patil and family and Milind Kolte and familyKolte-Patil Developers1,856
GurugramRoop Kumar Bansal and Basant BansalM3M India9,200
Dharmendra Bhandari and Sunil SatijaBestech India627
KolkataApurva Salarpuria and familySalarpuria Properties1,732
Harshavardhan Neotia and familyAmbuja Neotia1,690
NoidaRK Arora and familySupertech694
Getamber Anand and familyATS Infrastructure635
ThaneShailesh Puranik and familyPuranik Builders944
ChennaiM Arun KumarCasagrand703

 


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

RankCityNo of individualsRichest individualNet worth (Rs crores)
1Mumbai35Mangal Prabhat Lodha27,150
2New Delhi22Rajiv Singh17,690
3Bengaluru21Jitendra Virwani23,160
4Pune5Atul Chordia1,810
5Hyderabad4Rameshwar Rao Jupally3,370
6Noida2RK Arora510
6Chennai2M Arun Kumar, KR Anerudan680
6Gurugram2Roop Kumar Bansal1,990
6Cochin2KV Abdul Azeez and family650
10Kolkata1Harshvardhan Neotia and family1,880
10Thane1Shailesh Puranik and family370
10Ahmedabad1Gautam Adani and family2720

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

RankNameNet worth (Rs crores)Main companyCity of residence
1Mangal Prabhat Lodha27,150LodhaMumbai
2Jitendra Virwani23,160EmbassyBengaluru
3Rajiv Singh17,690DLFNew Delhi
4Chandru Raheja14,420K RahejaMumbai
5Vikas Oberoi10,980Oberoi RealtyMumbai
6Niranjan Hiranandani7,880HiranandaniMumbai
6Surendra Hiranandani7,880HiranandaniSingapore
8Ajay Piramal and family6,380Piramal RealtyMumbai
9Manoj Menda5,900RMZBengaluru
9Raj Menda5,900RMZBengaluru

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

RankNameCompanyNet worth (Rs crores)City of residence
1Mangal Prabhat LodhaLodha27,150Mumbai
2Vikas OberoiOberoi Realty10,980Mumbai
3Surendra HiranandaniHiranandani7,880Singapore
3Niranjan HiranandaniHiranandani7,880Mumbai
5Ajay Piramal and familyPiramal Realty6,380Mumbai

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)

RankNameNet worth (Rs crores)Company
1Rameshwar Rao Jupally3,370My Home Constructions
2Raja Bagmane2,940Bagmane Developers
3Gautam Adani and family2,720Adani Realty
4Roop Kumar Bansal1,990M3M India
5Basant Bansal1,980M3M India
6Patanjali Govind Keswani and family1,870Lemon Tree
7Atul Chordia1,810Panchshil Realty & Developers
8Anil Bhalla990Vatika
9Suresh L Raheja and family880Raheja Universal
10Vijay Vasudev Wadhwa860Wadhwa 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

NoNameWealth (Rs crores)Percentage changeCompanyPrimary segment
1Manoj Menda5,900122%RMZCommercial
2Raj Menda5,900122%RMZCommercial
3Ajay Piramal and family6,38075%Piramal RealtyResidential
4Harshavardhan Neotia and family1,88066%Ambuja NeotiaResidential
5Jude Romell and Dominic Romell72061%Romell Real EstateCommercial
6Sunil Mittal and family1,23054%Bharti RealtyCommercial
7Boman Rustom Irani1,15052%Keystone RealtorsResidential
8Percy Sorabji Chowdhry58052%Keystone RealtorsResidential
9Chandresh Dinesh Mehta58052%Keystone RealtorsResidential
10Jitendra Virwani23,16039%EmbassyCommercial

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

 

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