Gautam Adani’s Real Estate Wealth Dips 7%, Still Ranks 3rd Richest: Who’s on Top?
Gautam Adani’s real estate wealth fell 7% in 2025, but he remains India’s third-richest realty tycoon. Rajiv Singh of DLF retains the top spot, while Mangal Prabhat Lodha of the Lodha Group holds second place.
Gautam AdaniReal EstateHurun IndiaDlfLodha GroupReal EstateAug 01, 2025
According to GROHE-Hurun projections, Gautam Adani is likely to become India’s richest real estate tycoon within five years. His massive projects in Mumbai's Dharavi and Motilal Nagar are laying the groundwork for this rise. Adani Group's ambitious plans and strategic investments in these areas are expected to drive significant growth in the coming years.
“Adani is very ambitious. Their ambition is to take over from DLF to be at the top in the next five years,” said Anas Rahman Junaid, Chief Researcher and Founder, Hurun India. This forecast is based on Adani’s current trajectory and the robust projects he is spearheading in key urban areas.
Rajiv Singh, Chairman of DLF Ltd, retained the top spot on the list. His net worth rose 3% to ₹1.27 lakh crore, driven by DLF’s robust residential and commercial performance. DLF has consistently been a leader in the Indian real estate market, thanks to its diversified portfolio and strong financial health.
Macrotech Developers' Mangal Prabhat Lodha, founder of the Lodha Group, ranked second with ₹92,340 crore in real estate wealth, up just 1% from last year. This estimate excludes his son Abhinandan Lodha’s growing presence in the sector. The Lodha Group has been a dominant player in the luxury real estate market, particularly in Mumbai.
Raja Bagmane, founder of the Bagmane Group known for developing premium tech parks in Bengaluru, saw a 29% surge in real estate wealth, reaching ₹25,270 crore. His jump stands out in a year when most top players posted modest single-digit growth. The Bagmane Group’s focus on tech parks and commercial real estate has been a key driver of this impressive performance.
Atul Ruia, Managing Director of Phoenix Mills and a pioneer in retail-led mixed-use developments in India, posted a 10% gain, with his wealth touching ₹26,410 crore. This growth reflects the strong performance of his commercial real estate assets in key metro locations. Phoenix Mills has been at the forefront of creating vibrant commercial and retail spaces that attract a wide range of tenants.
The top real estate billionaires recorded subdued growth in 2025. Compared to a 70% rise in FY24, this year’s wealth increase remained in the single digits, highlighting a cautious market. However, the combined value of the 150 companies in the list grew 14% in FY25. Each company had a minimum valuation of ₹1,000 crore, showing broad strength in the sector.
Schloss Bangalore, founded by Deepak Parekh only six years ago, has debuted on the 2025 real estate rankings with a valuation of ₹13,600 crore. It’s the youngest firm among India’s biggest property players. Schloss Bangalore’s rapid rise is a testament to the dynamic nature of the Indian real estate market, where new players can quickly make a significant impact.
Peninsula Land, established in 1871, barely made the list with a ₹1,000 crore valuation. As the oldest real estate firm in the rankings, it stands in stark contrast to newer, fast-growing players. Despite its long history, Peninsula Land faces stiff competition from more agile and innovative companies.
The 2025 GROHE-Hurun Real Estate Rich List highlights the evolving landscape of the Indian real estate sector. While established players continue to dominate, new entrants and ambitious projects are reshaping the market. The future looks promising for those who can adapt and innovate in this competitive environment.
Frequently Asked Questions
Who is the richest real estate tycoon in India as of 2025?
Rajiv Singh, Chairman of DLF Ltd, is the richest real estate tycoon in India as of 2025, with a net worth of ₹1.27 lakh crore.
What is the current real estate wealth of Gautam Adani?
Gautam Adani’s real estate wealth is currently valued at ₹52,320 crore, a 7% decrease from the previous year.
Which company is expected to take over the top spot in the next five years?
Gautam Adani’s Adani Group is expected to take over the top spot in the Indian real estate market within the next five years, according to projections by Hurun India.
Who is the founder of the Bagmane Group, and what is their current real estate wealth?
Raja Bagmane is the founder of the Bagmane Group, and his real estate wealth saw a 29% surge, reaching ₹25,270 crore in 2025.
What is the youngest firm to debut on the 2025 real estate rankings?
Schloss Bangalore, founded by Deepak Parekh only six years ago, is the youngest firm to debut on the 2025 real estate rankings with a valuation of ₹13,600 crore.
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