01-08-2025
DLF, Lodha, Adani retain top 3 positions in real estate ‘rich list'
MUMBAI: DLF's Rajiv Singh and Lodha Developers' Lodha family (excluding Abhinandan Lodha) retained the top two slots in the Grohe-Hurun Real Estate Rich List released on Thursday. Gautam Adani continues to hold the third position despite erosion in his wealth by 7% in the last one year. DLF, Lodha, Adani retain top 3 positions in real estate 'rich list'
While the real estate wealth of DLF's Rajiv Singh is ₹1.27 lakh crore and that of Mangal Prabhat Lodha and the Lodha Developers family is pegged at ₹92,340 crore, Gautam Adani and the Adani Realty family have real estate wealth of ₹52,320 crore. The reason behind Adani's wealth erosion is said to be a shift in metrics by Hurun India in ascertaining value and wealth, despite the company adding realty projects to its portfolio.
'In contrast to last year's surge, this year has been modest for Indian real estate, with 51% of the companies on the list of 150 seeing their value increase, compared to 86% last year,' said Anas Rahman Junaid, founder and chief researcher, Hurun India. This was owing to geopolitical tensions combined with fears of rising input costs from global tariff disruptions. 'Now, with the latest announcement of 25% tariff plus penalty levied, it's a wait-and-watch situation,' he added.
The fourth in the Grohe-Hurun list is Vikas Oberoi of Oberoi Realty, with real-estate wealth of ₹46,950 crore, and in the fifth place is Basant Bansal and the family of M3M India, with wealth of ₹37,390 crore. 'Seventy percent of the companies mentioned in the list have a presence in Tier 1 cities and 85 companies have a presence beyond their home states,' said Junaid.
Four companies in the list are led by women, namely Pavitra Shankar of Brigade Enterprises ( ₹27,200 crore), Priya Paul of Apeejay Surrendra Park Hotels ( ₹3,600 crore), Jyotsna Suri of The Lalit ( ₹3,000 crore) and Meenakshi Ramji of Sowparnika ( ₹2,800 crore).
Interestingly, hospitality player Oyo led by Ritesh Agarwal has made a debut in the rich list by entering directly into the top 15 with a valuation of ₹32,500 crore.
Among the top gainers are Raja Bagmane of Bagmane Developers, who emerged with the highest percentage of 29% growth, followed by Atul Ashokkumar Ruia of Phoenix Mills and Vikas Oberoi of Oberoi Realty, both of whom posted healthy gains of 10% and 5%, which helped solidify their positions among the upper ranks.
DLF leads with 349 million sq ft developed, followed by Godrej Properties, which ranks second with 223 million sq ft. Prestige Estates Projects is third with 180 million sq ft developed, Sobha is fourth with 136 million sq ft, B L Kashyap & Sons ranks fifth with 125 million sq ft and Lodha Developers is sixth with 100 million sq ft.
