The wealthiest Indian Real Estate Entrepreneur holds wealth of Rs. 59,030 Crore!
Yes, you read it right. GROHE-HURUN released its India Real Estate Rich List 2023 on Tuesday. It ranks 100 individuals from 67 companies across 16 cities. The list provides a snapshot of the wealth of these individuals as of March 2023.
When compared to the previous year, a total of 61% experienced an increase in their wealth. Out of these individuals, 25 were new entrants, while 36 witnessed a decline in their wealth.
Here’s the list of top 10 in the list:
1. DLF's Chairman Rajiv Singh (Rs 59,030 Cr)
According to GROHE-HURUN India, he continues to hold the title of the wealthiest Indian real estate entrepreneur, possessing a wealth of Rs 59,030 crore.
Despite a 4% decline in wealth over the past year, The Chairman of DLF managed to maintain his position at the top of the rich list.
2. Mangal Prabhat Lodha and his Family (Rs 42,270 Cr)
In the second position is Mangal Prabhat Lodha and his family of Mumbai-based Macrotech Developers (Lodha Group), with a wealth of Rs 42,270 crore.
3. Arjun Menda & family (Rs 37,000 Cr)
Making their debut on the list, Bengaluru-based RMZ Corp secured the third position with a wealth of Rs 37,000 crore.
4. Chandru Raheja & family (Rs 26,620 Cr)
At the fourth position on the list is Chandru Raheja & family of K Raheja Corp, possessing a wealth of Rs 26,620 crore.
5. Niranjan Hiranandani (Rs 23,900 Cr)
They are followed by Niranjan Hiranandani, the founder of Hiranandani Communities, with a wealth of Rs 23,900 crore.
6. Jitendra Virwani (Rs 23,100 Cr)
Jitendra Virwani, the founder of Embassy Office Parks, holds the next position with a wealth of Rs 23,100 crore.
7. Vikas Oberoi (Rs 22,970 Cr)
Vikas Oberoi, the founder of Oberoi Realty, follows with a wealth of Rs 22,970 crore. Basant Bansal & family of M3M India have a wealth of Rs 16,110 crore, while Raja Bagmane of Bagmane Developers possesses Rs 16,100 crore.
8. Basant Bansal & family of M3M (Rs 16,100 Cr)
According to the Hurun list, Basant Bansal and his family, who own M3M, achieved a ranking of 127 in India and 1,975 globally. Their total valuation amounted to $1.7 billion. M3M holds a prominent position in Gurgaon and secures the second spot in Delhi.
9. Raja Bagmane of Bagmane Developers (Rs 16,100 Cr)
Raja Bagmane of Bagmane Developers, 62, bagged 9th position in the list.
10. G Amarender Reddy & family (Rs. 15, 000 Cr)
G Amarender Reddy & family, the founder and chairman of GAR Corporation, made their debut on the list at the tenth position, with a wealth of Rs 15,000 crore.
Maharashtra Holds most of the 100 Wealthiest Real Estate Entrepreneurs
Among the real estate entrepreneurs on the list, Maharashtra is the most preferred state of residence with 37 individuals, followed by Delhi with 23, and Karnataka with 18.
Mumbai tops the list with 29 from the 100 Wealthiest Realty Entrepreneurs
In terms of cities, Mumbai has the highest representation with 29 individuals, followed by New Delhi with 23, and Bengaluru with 18.
"The entry point to the top 10 has surged from Rs 3,350 crore in 2017 to a staggering Rs 15,000 crore today. Similarly, the threshold to make it to the top 50 has risen from Rs 660 crore in 2017 to Rs 1,300 crore presently," Hurun India MD and Chief Researcher Anas Rahman Junaid told reporters.
