DLF’s Rajiv Singh and Lodha Developers’ Lodha family have retained their top two positions in the Grohe-Hurun Real Estate Rich List, with Gautam Adani holding onto the third spot despite a 7% decline in his wealth over the past year. DLF’s Rajiv Singh has a real estate wealth of โน1.27 lakh crore, while the Lodha family’s wealth is pegged at โน92,340 crore. Gautam Adani’s real estate wealth stands at โน52,320 crore.
The decline in Adani’s wealth is attributed to a shift in metrics by Hurun India in determining value and wealth, despite the company adding realty projects to its portfolio. According to Anas Rahman Junaid, founder and chief researcher of Hurun India, the Indian real estate sector has seen a modest year, with 51% of the companies on the list of 150 experiencing an increase in value, compared to 86% last year.
Raja Bagmane of Bagmane Developers emerged as the top gainer with a 29% growth in wealth, followed by Atul Ashokkumar Ruia of Phoenix Mills and Vikas Oberoi of Oberoi Realty, who posted gains of 10% and 5%, respectively. Oyo’s Ritesh Agarwal made a notable debut in the rich list, entering the top 15 with a valuation of โน32,500 crore. Other notable rankings include Vikas Oberoi of Oberoi Realty at fourth place with โน46,950 crore and Basant Bansal and the family of M3M India at fifth place with โน37,390 crore [1].
Image Courtesy: Free Press Journal
Source: Hindustan Times
