Rajeev Singh, chairman of realty chief DLF, became the richest real estate entrepreneur with assets worth Rs 61,220 crore, followed by MP Lodha of Macrotech Developer and his family with assets worth Rs 52,970 crore, according to a report. Hurun and Grohe India on Wednesday released the fifth edition of its ‘Grohe Hurun India Real Estate Rich List’ – comprising of India’s richest real estate entrepreneurs.
The listing was based on the net worth in proportion to their ownership in their respective real estate businesses. Asset Accounts a Snapshot of December 31, 2021 According to the report, Rajiv Singh of DLF topped the list with a 68 per cent increase in its assets in the last one year. Although MP Lodha and his family’s wealth has increased by 20 per cent to Rs 52,970 crore in the last one year, the ranking has slipped to second place.
With a net worth of Rs 26,290 crore, Chandru Raheja and K Raheja’s family are third on the list. Embassy Group’s Jitendra Birwani is in fourth place with a net worth of Rs 23,620 crore, followed by Oberoi Realty’s Bikash Oberoi (Rs 22,780 crore), Niranjan Hiranandani of the Hiranandan community (Rs 22,250 crore), M3M India’s Basant Bansal (17,250) Raja Bagmane of developers (16,730 crores), G Amarendra Reddy and G0ARs family crores).
With assets of Rs 11,400 crore, the family of Subhash Runwal and Runwal Developers has slipped two places to tenth. GROHE-Hurun India Real Estate Rich List 2021 includes 71 companies and 100 individuals from 14 cities. Their wealth has grown to 81 percent of the list, including 13 new faces. About 13 percent have lost their assets and 13 have dropped-off. The average age was 61.
The average assets in the list increased by 30 per cent to Rs 4,537 crore. The combined assets of the listed entrepreneurs increased by 30 per cent to Rs 4,53,700 crore (USD 60 billion).
Anas Rahman Junaid, MD and Chief Researcher at Hurun India, said, “After being at the bottom for the last few years, the Indian real estate sector is poised to become one of the biggest growth engines in India. Extraordinary world events such as the COVID-19, the Ukraine war and inflation have increased the attractiveness of investing in real estate, which has led to an overall positive performance of the sector. ” Initially driven by a recovery in real estate demand behind low interest rates and government incentives.