DLF Leads, Taj & OYO Surge in India's ₹16 Lakh Crore Real Estate Market
The 2025 GROHE - Hurun India Real Estate 150 report highlights DLF's leadership and the rapid growth of hospitality and co-working sectors in India's real estate market, valued at ₹16 lakh crore.
Real EstateDlfTajOyoHospitalityReal Estate MumbaiJul 31, 2025
DLF remains India’s most valuable real estate company with a valuation of ₹2.07 lakh crore, up 2.6% YoY. Lodha Developers follows at ₹1.38 lakh crore. Indian Hotels Company (Taj Group) climbs to third place with a 37% jump to ₹1.08 lakh crore — cementing hospitality as a fast-growing vertical.
Prestige Estates (₹71,500 Cr), Godrej Properties (₹70,600 Cr), Oberoi Realty (₹69,400 Cr), Phoenix Mills (₹55,900 Cr), and Adani Realty (₹52,400 Cr) round out the top eight. Two newcomers — M3M India and Aparna Constructions & Estates — entered the Top 10 at ₹37,400 Cr each, reflecting the growing clout of regional powerhouses.
Indian Hotels Company demonstrated remarkable growth, making a significant ascent within the top companies. Prestige Estates Projects also showed strong upward momentum. Rajiv Singh of DLF leads the list of India’s richest real estate entrepreneurs, maintaining his top position with a steady rise in wealth. He is followed by Mangal Prabhat Lodha & family of Lodha Developers, who recorded a modest increase over the year. Gautam Adani of Adani Realty ranks third, despite a slight dip in his real estate wealth.
Mumbai continues to lead India’s real estate map with 42 companies, contributing a cumulative valuation of Rs 6,96,800 Cr. Bengaluru ranks second with 23 companies, totalling Rs 1,97,400 Cr in value. New Delhi holds the third spot with 16 companies valued at Rs 89,700 Cr. Hyderabad climbs to fourth with 13 companies and a combined value of Rs 93,700 Cr. Gurugram ranks sixth with 12 companies, worth Rs 3,23,300 Cr.
Hospitality firms like Indian Hotels and new entrants like Ventive Hospitality (IPO 10.3x subscribed) and Schloss Bangalore (The Leela operator, ₹13,600 Cr market cap) are reshaping the industry. Co-working models are gaining too, with SmartWorks leading the charge. 22 hospitality companies now account for ₹2.7 lakh Cr in value. OYO, led by Ritesh Agarwal, debuts in the Top 15.
60% of all companies now operate outside their home states, and 17 have a global footprint — proof of increasing scale and ambition. The rankings welcomed 63 new entrants, with 29 debuting directly into the top 100. Hyderabad-based Aparna Constructions made a striking entry at ninth position (₹37,400 crore), while M3M India, led by Basant Bansal, re-entered the top 10, signaling the rise of regional heavyweights.
Arihant Foundations & Housing recorded a staggering 1000% growth in valuation, reaching ₹1,400 crore, while Indian Hotels Company added ₹29,150 crore — the largest absolute value gain in a year. In a clear sign of maturing leadership, 33 of the top 150 companies are now led by professional CEOs, unaffiliated with the founding family. The average age of companies dropped from 39 to 34 years, while the average leader age is now 58, suggesting a generational shift.
The number of listed companies rose to 65 from 48, and IPOs like Ventive Hospitality (10.3x subscribed) and Schloss Bangalore drew strong investor interest. Beyond numbers, India’s real estate players are now building global brands. Lodha’s collaboration with Armani, DLF’s luxury retail, and Phoenix Mills’ lifestyle-led malls reflect a shift from building spaces to crafting experiences.
The cut-off to enter the list now stands at ₹1,000 Cr, double that of 2019. 63 new companies joined the list; 29 entered the Top 100. 51% of firms saw gains (vs 86% last year), and growth slowed from ₹6.2 lakh Cr in 2024 to ₹1.4 lakh Cr in 2025. The BSE Realty Index fell 12%, reflecting wider market headwinds. Still, companies like Prestige, DLF, and Anant Raj rebounded strongly post-April.
Frequently Asked Questions
What is the total value of India's top real estate companies as per the 2025 GROHE-HURUN India Real Estate 150 report?
The total value of India's top real estate companies is ₹16 lakh crore ($188 billion).
Which company leads the 2025 GROHE-HURUN India Real Estate 150 list?
DLF leads the list with a valuation of ₹2.07 lakh crore.
How many new companies entered the list this year?
63 new companies entered the list, with 29 directly entering the Top 100.
Which city has the highest number of real estate companies on the list?
Mumbai has the highest number of real estate companies with 42 companies.
What is the growth rate of the real estate sector in 2025 compared to 2024?
The growth rate of the real estate sector in 2025 is 14%, down from 70% in 2024.
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