In the international real estate market, India has surpassed China in the quantity of billion-dollar real estate firms that are based there, marking a noteworthy achievement.
The Hurun Research Institute’s most recent data revealed that the nation is now home to an astounding 36 real estate enterprises valued at a billion dollars, a phenomenal leap from just 7 companies six years ago.
This highlights India’s rapidly expanding real estate sector and its increasing allure for investors, both local and foreign. The information, which is included in the 2024 GROHE-Hurun India Real Estate 100 study, shows a strong growth trajectory in the industry, driven by a number of variables such as urbanization, the development of infrastructure, and shifting consumer preferences.
Notably, China’s real estate market is facing significant headwinds due to government clampdowns and demand slowdown. In Mainland China, the number of listed companies valued at over a billion-dollar declined to 30 from 100, while in the Hurun China 500, which has a threshold of $3 billion, the number dropped from 50 to just 10.
Mumbai led the top 100 list with 33 companies, followed by Bengaluru with 15, New Delhi with 14 companies, and Gurugram with 10 companies. The threshold to qualify for the list was Rs 1,200 crore, an 30% on-year increase.
With a value of Rs 2 lakh crore, DLF has emerged as India’s most valuable real estate company. Macrotech Developers, at Rs 1.4 lakh crore, and Indian Hotels Company at Rs 79,150 crore, are at the 2nd and 3rd spot in the 2024 GROHE-Hurun India Real Estate 100. IHCL or Taj Group is the most valuable hospitality company in the list.
For the first time since the inception of the index, Adani Realty has entered the list of top 10. Adani Realty grew 62% on-year, with a cumulative valuation of Rs 56,500 crore and is at 7th rank. Adani Realty is also the most valuable unlisted real estate company on the list.
With a valuation of Rs 79,150 crore, Taj Group of Hotels (IHCL), led by Puneet Chhatwal, occupied the 3rd spot, and Taj GVK, valued at Rs 2,050 crore, occupies the 74th spot in list.
Around 86% of the companies in this list saw their value increase–a cumulative addition of Rs 6.2 lakh crore. Employing 26,275 people, Sobha emerged as the top employer in the list.
The cumulative value of India’s most valuable real estate companies grew by 70%, the highest ever since the inception of the list. This is in line with the BSE Realty Index, which grew by 110% during the year.
Interestingly, 18 of the top 100 companies are led by professional CEOs who do not hail from the founding family.
India’s most valuable real estate companies in the list have a combined value of $171 billion or Rs 14.2 lakh crore, which is more than the combined GDP of Oman and Sri Lanka, the study showed.
Led by Pavitra Shankar, Bengaluru-based Brigade Enterprises, valued at Rs 29,690 crore, and led by G. Indira Krishna Reddy, Hyderabad-based Taj GVK, valued at Rs 2,050 crore, are the only two women-led companies in this top 100 list.
Founded 8 years ago, Noida-based Max Estates and Gurugram-based Smartworks are the youngest companies in the list. Founded in 1871, Peninsula Land, valued at Rs 1,830 crore, is the oldest company in the list
