DLF Chairman Rajiv Singh richest real estate contractor in India: Hurun India list

DLF Chair Rajiv Singh is the richest real estate entrepreneur in India with a wealth of ₹ 61,220 crore, up 68 per cent in the last one year.

He is followed by Mangal Prabhat Lodha and family – promoters of Macrotech Developers – according to the Grohe – Hurun India Real Estate Rich List. Lodha and family slipped to the second spot with their wealth at ₹ 52,970 crore, a 20 per cent increase during the one-year period.

Apart from realtors, the list also includes hotel and hospitality entrepreneurs.

Basant Basal and family of Gurugram-based M3M India saw the highest increase in wealth – up 75 per cent yoy to ₹ 17,250 crore in 2021.

Among the top ten, Chandru Raheja and family of Mumbai-based K Raheja, and Subhash Runwal and family of Mumbai-based Runwal Developers saw no addition to their wealth on a yoy basis. Their weath stood at ₹ 26,290 crore and ₹ 11,400 crore, respectively.

The fifth edition of the Grohe Hurun India Real Estate Rich List released on Wednesday also noted that the net wealth of the list increased by nearly 30 per cent between 2020 and 2021 to ₹ 453,700 crore ($ 60 billion). The top 10 entrepreneurs accounted for 59 per cent of this wealth.

The other billionaires amongst the top 10 include Jitendra Virwani of Bengaluru-based Embassy Property, Vikas Oberoi of Mumbai-based Oberoi Realty, Niranjan Hiranandani of Mumbai-based Hiranandani Communities, Raja Bagmane of Bengaluru-based Bagmane Developers, and G Amarender Reddy and family or Hyderabad-based GAR Corporation.

Reddy is a new addition to the list.

The list has a total of 100 individuals covering 71 companies across 14 cities of India. There have been 13 additions to it.

The average age of the billionaire list is 61 years while the youngest is 38 years old. The oldest on the list is 93 years.

“The number of Indian real estate billionaires quintupled over the last five years,” Hurun India said in a press note.

According to Anas Rahman Junaid, MD and Chief Researcher, Hurun India, after lying low for the last few years, the Indian real estate sector may now become one of the biggest growth engines in the country. There has been an increased attractiveness for investing in real estate, resulting in overall positive performance for the sector.

“For the year under review, the BSE Realty index gained 55 per cent as compared to 22 per cent gain of the benchmark index Sensex. Real estate stocks were driven by a recovery in the real estate, ”he added.

Published on

April 06, 2022

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