India's Real Estate Sector Surpasses China with 36 Billion-Dollar Companies
India's thriving real estate market has taken the lead, boasting 36 homegrown companies valued at $1 billion or more, surpassing China's 30 companies.
Real EstateIndiaChinaProperty MarketBillion Dollar CompaniesReal EstateJul 11, 2024
The list includes market leader DLF, Macrotech Developers, and Adani Realty, among others. The growth in valuation of Indian realty companies highlights the sector's attractiveness to investors, both domestic and international. The data, part of the 2024 GROHE-Hurun India Real Estate 100 report, reveals a robust growth trajectory in the sector, driven by urbanization, infrastructure development, and evolving consumer preferences.
Notably, China's real estate market is facing significant challenges due to government clampdowns and demand slowdown. In contrast, India's real estate market has seen a 70% surge in cumulative value, with 86% of companies in the list seeing their valuations increase by ₹6.2 lakh crore cumulatively.
Mumbai led the top 100 list with 33 companies, followed by Bengaluru, New Delhi, and Gurugram with 15, 14, and 10 companies, respectively. The threshold to qualify for the list was ₹1,200 crore, a 30% on-year increase.
With a value of ₹2 lakh crore, DLF emerged as India's most valuable property developer. Macrotech Developers, with a valuation of ₹1.4 lakh crore, and Indian Hotels Company (IHCL), with a valuation of ₹79,150 crore, secured the second and third spots, respectively.
Adani Realty, which entered the list of top 10 for the first time, grew 62% on-year, achieving a cumulative valuation of ₹56,500 crore. Sobha emerged as the top employer in the list with a workforce of 26,275 people.
Interestingly, 18 of the top 100 companies are led by professional CEOs who do not hail from the founding family. India's most valuable real estate companies in the list have a combined value of $171 billion or ₹14.2 lakh crore, more than the combined GDP of Oman and Sri Lanka.
Led by Pavitra Shankar, Bengaluru-based Brigade Enterprises, valued at ₹29,690 crore, and Hyderabad-based Taj GVK, led by G Indira Krishna Reddy, valued at ₹2,050 crore, are the only two women-led companies in the top 100.
Noida-based Max Estates and Gurugram-based Smartworks, both founded eight years ago, are the youngest companies in the list, while Peninsula Land, founded in 1871 and valued at ₹1,830 crore, is the oldest.
Information
Hurun Research Institute is a leading research firm that publishes annual rankings of India's wealthiest individuals, companies, and philanthropists.
GROHE is a leading global brand for sanitary fittings and a subsidiary of LIXIL Group Corporation. Hurun Report is a leading research firm that publishes annual rankings of India's wealthiest individuals, companies, and philanthropists.
Frequently Asked Questions
How many billion-dollar realty companies are in India?
36
How many billion-dollar realty companies are in China?
30
What is the cumulative value of India's most valuable realty firms?
$171 billion or ₹14.2 lakh crore
Which city led the top 100 list with the most number of companies?
Mumbai
What is the threshold to qualify for the list?
₹1,200 crore
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