India’s Top 100 Real Estate Developers Are Worth $32.3 Bn: Report
The net worth of India’s top 100 real estate developers has gone up by 27 per cent in 2018 when compared to 2017, says GROHE Hurun India Real Estate Rich List 2018. According to the report, the net worth of these developers in 2018 stood at Rs 236,610 crore ($32.3 billion), up from Rs 186,700 crore in 2017. This is a billion dollar more than the gross domestic product of Cyprus.
On top of this coveted list is Lodha Group’s Mangal Prabhat Lodha, with a networth of Rs 27,150 crore. Embassy Group’s Jitendra Virwani with Rs 21,160 crore was ranked second while DLF’s Rajiv Singh took the third spot with Rs 17,690 crore. Chandru Raheja of K Raheja Group stood at the fourth position, with a net worth of Rs 14,420. The fifth position was held by Oberoi Group’s Vikas Oberoi, with Rs 10,980 crore.
According to the report, the average age of the top 100 entrepreneurs is 59 – the youngest in the list is RMZ Group’s Kunal Menda (24 years old) and the eldest is Prithvi Raj Singh Oberoi of East India Hotels (89 years). Fifty-nine per cent of these developers are first-generation entrepreneurs.
The list also features nine women entrepreneurs with DLF’s Renuka Talwar, on the 19th position, being the richest woman on the list.
Ten real estate developers among the top 100 have made it to the list for the first time. Of the 10 debutants, Rameshwar Rao Jupally of My Home Constructions is ranked the highest, at the 14th position.
According to the report, 78 of the 100 property tycoons lived in financial capital Mumbai (35), IT capital Bengaluru (22) and national capital Delhi (21).