The 2024 GROHE-Hurun India Real Estate 100, released by the Hurun Report, ranks India’s most successful real estate companies by value. Additionally, the report features a list of the country’s wealthiest real estate entrepreneurs. The value and wealth calculations are based on data as of May 31, 2024.
Speaking on the occasion, Priya Rustogi, Leader, India & Subcon, LWT IMEA said, “It is with immense pride and honor we reaffirm our enduring partnership with Hurun India for the 2024 GROHE-Hurun India Real Estate 100. Over the years, we have witnessed remarkable advancements within the Indian real estate sector, driven by visionary leaders who consistently push the boundaries of innovation and excellence. The latest rankings underscore the resilience and adaptability of these industry pioneers and their dedication to promote a sustainable and forward-thinking future for the sector. As we move forward, we are dedicated to supporting these leaders in their pursuits and are eager to see the continuous progress of the Indian real estate landscape. We are thankful to the industry stalwarts for giving us time and glimpse into their brilliant minds and ideas.”
Anas Rahman Junaid, Founder and Chief Researcher, Hurun India said, “The 2024 GROHE-Hurun India Real Estate 100 confirm our prediction of breakout of Indian real estate brands post covid. An impressive 86% of the companies in this year’s list saw their values increase, collectively adding INR 6.2 lakh Cr, showcasing the robust growth and dynamic recovery of the sector.”
“India is accelerating to become the real estate capital of Asia, with 36 billion dollar real estate companies in 2024 GROHE-Hurun India Real Estate 100, pushing away China in terms of growth rate, whose real estate market is facing significant headwinds due to government clampdowns and demand slowdown. India’s market benefits from a young population, increasing urbanization, and a growing middle class. Additionally, the implementation of the Real Estate (Regulation and Development) Act (RERA) has enhanced transparency and accountability, boosting investor confidence. In contrast, China’s market struggles with excess supply, high debt levels among property developers, and strict government regulations making India’s real estate sector a more attractive and stable investment destination.”
“India’s real estate economy is firing from all cylinders! 2024 GROHE-Hurun India Real Estate list of India’s 100 most valuable real estate enterprises include companies focusing on residential, commercial, hospitality, and co-working spaces. India’s real estate sector is experiencing a remarkable boom, driven by a rapidly growing middle class, robust economic expansion, and increasing investments. With the middle class projected to reach 547 million by 2030, residential sales are expected to grow 10-12% in FY 2024-25. Rising foreign investments of around US$ 4 billion yearly are further catalysing growth.”
“Sixty of the top 100 companies operate beyond their core state headquarters, indicating a significant trend toward national brand building in the real estate sector. Notably, six companies on the list have an international presence, demonstrating the global ambitions of Indian real estate companies. With the strength of the Indian diaspora, Indian real estate companies are well-positioned to expand internationally, a trend we expect to see grow in the coming years.”
“The list showcases that entrepreneurs hailing from tier 2 cities are forging some of the most impactful real estate enterprises in the nation. 5% of the entrants in 2024 GROHE-Hurun India Real Estate 100 hail from tier 2 cities. This highlights the fact that geographic boundaries no longer limit the rise of influential real estate players in India.”
“The 2024 GROHE-Hurun India Real Estate 100 employs around 500,000 people, equivalent to the population of Maldives. Proximity to vital transportation hubs such as airports, well-constructed highways, and efficient metro stations significantly influence both homebuyers and businesses seeking strategic locations. India is projected to add 200,000 km of national highways by 2037, fostering the growth of micro cities and further value addition by India’s real estate sector.”
“Story of the companies in 2024 GROHE-Hurun India Real Estate 100, tell the story of India’s real estate economy”, concluded Junaid.
