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Hurun India unveils GROHE Hurun India Real estate Richlist 2020

by News Monks
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  • M P Lodha of Macrotech Developers tops the list for the 4th consecutive year followed by Rajiv Singh of DLF and Chandru Raheja of K Raheja in second & third places respectively
  • 8 USD billionaires and 27 new entrants in the list
  • Mumbai houses most entrants at 31; Delhi & Bengaluru at 22 & 20 entrants respectively
  • Total wealth of top 100 entrants in the list up 26% from 2019 to Rs. 3,48,660 crore
  • Bijay Kumar Agarwal of Sattva Developers fastest riser in the 2020 list
  • 39 and 12 from GROHE Hurun India Real Estate List 2020 are in the Hurun India Rich List 2020 & Hurun India philanthropy list 2020
  • With Rs. 280 crore networth, the youngest on the list is Aditya Chandak (36) of Chandak Group and at Rs. 2,170 crore, oldest on the list is P R S Oberoi (91) of East India Hotels
  • 3 under 40 and 4 above 80 made it to GROHE Hurun India Real Estate Rich List 2020
  • At 27 drop offs and 33% witnessing wealth decrease, pandemic year sees the most churn
  • 65% see their wealth increase with most top developers resilient to pandemic impact
  • Entry limit falls from Rs. 300 to Rs. 250 crore in 2020 possibly due to pandemic impact

Hurun Report today released the 4th edition of GROHE Hurun Real Estate Rich List 2020, a ranking of the most successful real estate entrepreneurs, inheritors in India, ranked by networth proportionate to their ownership in their respective real estate businesses. Wealth calculations are as of December 31, 2020. The GROHE Hurun India Real Estate Rich List 2020 ranks 100 individuals from 71 companies and 15 cities.

Unveiling the report, Bobby Joseph, Leader, LIXIL, India & Subcon (GROHE, American Standard & INAX), said, “The India Real Estate Rich List is more than a list of the wealthy in the space, it is an indicator of the overall sentiment and direction of the industry. At GROHE, we rely on this as an important climate indicator to tune our strategy & marketing efforts. Also, it is heartening to see that wealth creation in the sector continued to be robust and that there are new entrants into the list, even in a pandemic year. The message coming out is definitely positive and uplifting.”

In his comments, Hurun India MD and Chief Researcher, Anas Rahman Junaid, said, “Covid-19 was the litmus test for Indian real estate sector. We saw top developers in each city consolidating their market share. This could be the reason why the GROHE Hurun Real Estate Rich List registered the biggest churn of 27% since inception. Marred by Covid-19, the year 2020 showcased the resilience of the top developers in the country and not surprisingly the real estate business in India remains highly localised relative to similar/developed economies.”

Methodology: The GROHE Hurun India Real Estate Rich List 2020 is supplementary to the Hurun India Rich List 2020. While we have tried to limit the valuation to primary ownership in Indian real estate businesses registered with the Ministry of Corporate Affairs. For instance, the Godrej group is a conglomerate with diverse business interests; Adi Godrej has a valuation of INR 32,400 crore on the Hurun India Rich List 2020. However, on the GROHE Hurun India Real Estate Rich List 2020, we have considered the valuation of Godrej Properties for Adi Godrej, which would translate to INR 4,840 crore. Valuing the wealth of India’s richest is as much an art as it is a science. There may be inadvertent omissions, but we believe the GROHEHurun India Real Estate Rich List 2020 to be the most comprehensive attempt to identify India’s top real estate entrepreneurs and to measure the value of their holdings. Our team of researchers has cross-checked information with entrepreneurs, industry experts, journalists, bankers, regulators, and government filings, as well as past databases. For non-listed companies, our valuation was based on a comparison with their listed equivalents using prevailing industry multiples such as Price to Earnings, Price to Sales, EV to Sales, EV to EBITDA, Net Asset Value and other methodologies including Discounted Cash Flow. We have used the latest available financial reports as the basis for arriving at the valuation.We have split wealth among siblings; for companies like Godrej Properties, we have split the net worth across five individuals. Grohe Hurun Real Estate Rich List has been compiled based on the valuation of real estate business owned by the entrepreneurs; The personal liabilities or debt of the entrepreneur is not considered for the net worth calculation.

The Hurun India Real Estate Rich List released today makes a serious attempt to understand and highlight achievement of real estate entrepreneurs through it as a medium. It’s a testament to their commitment to conceptualizing, designing, and building homes and commercial spaces that exemplify highest standards of living and complement the contemporary ever-evolving lifestyle with every amenity presented to inhabitants on a single platform. With a growing population, India currently has one of the top 5 most pronounced housing

shortages in the world and will need to build 25 million additional affordable housing units by 2030. Amidst systemic challenges, developers are working tirelessly towards the country’s infrastructural development and fuelling its growth. The belief is that GROHE Hurun India Real Estate Rich List 2020 serves as a recognition and encouragement for these entrepreneurs.  Developers are hoping to get last-mile funding from the Rs.25,000 Crore SWAMIH (Special Window for Completion of Construction of Affordable and Mid-Income Housing Projects) Investment Fund announced by the Central Government. Real estate and infrastructure are undoubtedly two of the most significant economic indicators and key to India becoming a US$ 5 trillion economy. India needs to create commercial and residential landmarks that are at par with prestigious addresses across the globe. Overall wealth creation in the country and the increase in per-capita income will result in increased demand for residential housing and commercial space. When China’s GDP was same as India’s present GDP, China had zero billionaires in its’ real state sector while it currently has 100+ billionaires from real estate alone.

Table 1: Top 10 on the GROHE HURUN INDIA REAL ESTATE RICH LIST 2020

Rank NameNet Worth INR CroreMain Company City of Residence
1-Mangal Prabhat Lodha & family44,270Macrotech DevelopersMumbai
2-Rajiv Singh36,430DLFNew Delhi
3↑Chandru Raheja & family26,260K RahejaMumbai
4↓Jitendra Virwani23,220Embassy Office ParksBengaluru
5↓Niranjan Hiranandani20,600Hiranandani CommunitiesMumbai
6-Vikas Oberoi15,770Oberoi RealtyMumbai
7-Raja Bagmane15,590Bagmane DevelopersBengaluru
8↑Subhash Runwal & family11,450Runwal DevelopersMumbai
9↑Ajay Piramal & family6,560Piramal RealtyMumbai
10*Atul Ruia & family6,340Phoenix MillsMumbai

Rank increase yoy Rank decrease YoY – No Rank change yoy * New to Top 10

Source: Hurun Research Institute 2020. GROHE Hurun India Real Estate Rich List 2020

With a wealth of INR 44,270 crores, Mangal Prabhat Lodha & family, 65 of Lodha Group is the richest person on the GROHE Hurun India Real Estate Rich List 2020 for the fourth consecutive year. His wealth increased by 39% in the current year. Founded in 1980 and headquartered in Mumbai, Lodha is India’s largest real estate developer by sales value for financial years 2014-20 and the second-largest by area delivered. Lodha Group had the highest revenue from operations among all the real estate developers in India during the pandemic hit year 2020.

With a wealth of INR 36,430 crores, Rajiv Singh, 61 of DLF ranked second on the list andregistered an increase of 45% in wealth, backed by 50% rise in DLF’s share price. Established in 1946, Delhi Land & Finance (DLF Limited) is the largest publicly listed real estate company in India with properties in 15 states and 24 cities. DLF Cyber City Developers Ltd (DCCDL), a joint venture between DLF and Singapore’s sovereign wealth fund GIC has 34 million square feet of office and retail properties generating an annual rental income of INR 3,500 crores.

With a 70% increase in wealth andcurrent wealth of INR 26,260 crores, Chandru Raheja & family, 80, of K Raheja Corp moves up 2 spots and storms into the third spot in the GROHE Hurun India Real Estate Rich List 2020.  K Raheja Corp has over 20 million square feet of office space, making it the second-largest commercial developer in the country.  In July 2020, Mindspace Business Parks REIT raised INR 4,500 crores through IPO, causing the wealth gain. Mindspace is currently trading at a market cap of INR 18,000 crores.

With a wealth of INR 23,220 crores, Jitendra Virwani, 54 of Embassy Office Parks ranks fourth in the list. Founded in 1993 and headquartered in Bengaluru, Embassy Group is India’s first Real Estate Investment Trust. The embassy has developed over 55 million square feet of commercial, residential, industrial & warehousing, retail and hospitality spaces in India and overseas. In August 2020, Embassy Property Developments bought around 14% stake in Indiabulls Real Estate from its promoter and plans to increase in stake in the company.

The fifthspot is taken by Niranjan Hiranandani, 70, Hiranandani Communities, whose real estate businesses registered a valuationof INR 20,600 crores. In July 2020, the group launched the world’s second-largest data center, Yotta NM1 in its Integrated Yotta Data Center Park, under the subsidiary Yotta Infrastructure, in Navi Mumbai. In 2019, the global private equity firm, Blackstone tied up with Hiranandani Group to enter the warehousing business in India.

With a 13% increase in wealth to INR 15,770 crores, Vikas Oberoi, 51 of Oberoi Realty is ranked sixth on the list. Oberoi Realty focused on premium developments in the residential, office space, retail, hospitality, and social infrastructure verticals. In December 2020, Oberoi Realty has bought out Sahana Group’s 50% stake in the 221-key five-star hotel in Mumbai’s Worli area for INR 1,040 crores.

Raja Bagmane, 61 of Bagmane Developers ranks seventh on the list.  With 17 million square feet of total operational size, Bagmane Developers is a leading developer of office spaces. Raja Bagmane, who registered a wealth of INR 15,590 crores increased his wealth by 57%, primarily due to a 50% increase in after tax profit in FY 20.

With a wealth of INR 11,450 crore and a wealth increase of 61%, Subhash Runwal & family, 77 of Runwal Developers moves up 1 spot to secure the eighth spot in the list. Subhash Runwal founded Runwal Group in 1978 and has delivered over 51 residential projects. In May 2019, Runwal Group has partnered with Warburg Pincus to create shopping malls across tier I, II, and III cities in India. 

With a wealth of INR 6,560 crores, Ajay Piramal & family, 65, of Piramal Realty, moves up one spot to registerninth on the list. Founded in 2010, Piramal Realty develops luxury residential projects in Mumbai. In July 2015, private equity firms Warburg Pincus and Goldman Sachs have invested in Piramal Realty. The company has around 17 million square feet of residential and commercial space under development in and around Mumbai.

With a wealth of INR 6,340 crores, Atul Ruia & family, 49, of Phoenix Mills ranks tenth on the GROHE Hurun Real Estate Rich List 2020. Phoenix Mills, which started as a textile manufacturing company in 1905, now owns and operates some of the most reputed luxury malls and hotels in the country. In December 2020, Phoenix has entered into a non-binding term sheet with an affiliate of Singapore’s GIC for a strategic retail-led mixed-use property development platform.

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Chart 1:

Top 9 listed companies in the GROHE Hurun India Real Estate Rich List 2020 have almost recovered the losses they have registered since the lockdown.

Source: Hurun Research Institute 2020. GROHE Hurun India Real Estate Rich List 2020, BSE

Table 2: GROHE Hurun India Real Estate Rich List 2020 – The Biggest Gainers

RankNameChange (%)Net Worth  INR CroreCompany
1Bijay Kumar Agarwal & family290%4,170Sattva Developers
2C Gopalan & family175%3,410Gopalan Enterprises
3M Arun Kumar83%770Casagrand
4Chandru Raheja & family70%26,260K Raheja
5Mohinder Puri & family69%590Puri Constructions

Source: Hurun Research Institute 2020. GROHE Hurun India Real Estate Rich List 2020

Among states/UTs, Maharashtra tops with 37 in the list, followed by Delhi and Karnataka with 22 & 20 respectively.

Table 3:  GROHE Hurun India Real Estate Rich List 2020 by State

RankStateNo. of IndividualsRichest IndividualNet Worth  INR Crore
1Maharashtra38Mangal Prabhat Lodha & family44,270
2Delhi22Rajiv Singh36,430
3Karnataka20Jitendra Virwani23,220
4Telangana5Rameshwar Rao Jupally & family5,450
5Haryana4Roop Kumar Bansal4,970

Source: Hurun Research Institute 2020. GROHE Hurun India Real Estate Rich List 2020

As per Hurun India Wealth Report, Mumbai is home to the most number of millionaire households and consequentially is home to the largest real estate companies in the country.  Mumbai leads the with 31 individuals in GROHE Hurun India Real Estate Rich List 2020, followed by New Delhi and Bengaluru with 22 and 20 individuals respectively.

Table 4: GROHE Hurun India Real Estate Rich List 2020 by City

 RankCityNo. of IndividualsRichest IndividualNet Worth INR Crore
1Mumbai31Mangal Prabhat Lodha & family44,270
2New Delhi22Rajiv Singh36,430
3Bengaluru20Jitendra Virwani23,220
4Hyderabad5Rameshwar Rao Jupally & family5,450
4Pune5Atul Chordia & family3,830

Source: Hurun Research Institute 2020. GROHE Hurun India Real Estate Rich List 2020

Table 5: Top Property Developers by City

CityNameMain CompanyCompany Value (INR Crore)
New DelhiRajiv Singh, Pia Singh & Renuka TalwarDLF57,637
Bikramjit Ahluwalia & familyAhluwalia Contracts1,781
Rohtas Goel & familyOmaxe1,498
MumbaiMangal Prabhat Lodha & familyMacrotech Developers47,098
Adi Godrej, Jamshyd Godrej, Nadir Godrej, Rishad Naoroji & Smita V CrishnaGodrej Properties36,086
Vikas OberoiOberoi Realty21,198
BengaluruJitendra VirwaniEmbassy Office Parks32,680
Raja BagmaneBagmane Developers14,437
Irfan Razack, Noaman Razack & Rezwan RazackPrestige Estates Projects10,662
HyderabadC Venkateswara Reddy & S Subramanyam ReddyAparna Constructions & Estates9,513
Rameshwar Rao Jupally & familyMy Home Constructions4,957
PuneAtul Chordia & family, Sagar Chordia & familyPanchshil Realty5,113
Rajesh Anirudha Patil & family & Milind Kolte & familyKolte-Patil Developers1,856
  GurugramRoop Kumar Bansal & Basant BansalM3M India9,200
 Dharmendra Bhandari & Sunil SatijaBestech India627
KolkataApurva Salarpuria & familySalarpuria Properties1,732
Harshavardhan Neotia & familyAmbuja Neotia1,690
NoidaRK Arora & familySupertech694
Getamber Anand & familyATS Infrastructure635
ThaneShailesh Puranik & familyPuranik Builders944
ChennaiM Arun KumarCasagrand703

Source: Hurun Research Institute 2020. GROHE Hurun India Real Estate Rich List 2020

Real Estate Categories

Based on target customers, residential developers can be further classified into-Premium, Middle Income Group & Affordable.

Table 6: GROHE Hurun India Real Estate Rich List 2020 Top Property Developers with a focus on Premium Housing

RankNameCompanyNet Worth  INR CroreChange (%)
1Mangal Prabhat Lodha & familyMacrotech Developers44,27039%
2Chandru Raheja & familyK Raheja26,26070%
3Niranjan HiranandaniHiranandani Communities20,60021%
4Vikas OberoiOberoi Realty15,77013%
5Subhash Runwal & familyRunwal Developers11,45061%
6Ajay Piramal & familyPiramal Realty6,5600%
7Mofatraj Pukhraj MunotKalpataru4,27038%
8Kamal Khetan & familySunteck Realty3,800-13%

Source: Hurun Research Institute 2020. GROHE Hurun India Real Estate Rich List 2020

Table 7: GROHE Hurun India Real Estate Rich List 2020 Top Developers focused on Middle Income Group

RankNameCompanyNet Worth  INR CroreChange (%)
1Rameshwar Rao Jupally & familyMy Home Constructions5,45049%
2PNC Menon & familySobha2,350-13%
3Ravi PuravankaraPuravankara1,61028%
4Sameer Gehlaut & familyIndiabulls Real Estate1,03061%
5RK Arora & familySupertech700-29%

Source: Hurun Research Institute 2020. GROHE Hurun India Real Estate Rich List 2020

Table 8: GROHE Hurun India Real Estate Rich List 2020 Top Developers focused on Affordable Housing

RankNameCompanyNet Worth  (INR Crore)Change (%)City
1C Venkateswara ReddyAparna Constructions & Estates5,230RevaluedHyderabad
2S Subramanyam ReddyAparna Constructions & Estates5,180RevaluedHyderabad
3Bijay Kumar Agarwal & familySattva Developers4,170290%Bengaluru
4Errol FernandesFerns Estates & Developers1,6408%Bengaluru
5Harshavardhan Neotia & familyAmbuja Neotia1,440-18%Kolkata

Source: Hurun Research Institute 2020. GROHE Hurun India Real Estate Rich List 2020

Table 9: GROHE Hurun India Real Estate Rich List 2020 Top Residential Developers

RankNameCompanyNet Worth-INR CroreCity
1Mangal Prabhat Lodha & familyMacrotech Developers44,270Mumbai
2Niranjan HiranandaniHiranandani Communities20,600Mumbai
3Vikas OberoiOberoi Realty15,770Mumbai
4Subhash Runwal & familyRunwal Developers11,450Mumbai
5Ajay Piramal & familyPiramal Realty6,560Mumbai

Source: Hurun Research Institute 2020. GROHE Hurun India Real Estate Rich List 2020

Table 10: GROHE Hurun India Real Estate Rich List 2020 Top Hospitality Property Developers

RankNameCompanyNet Worth  (INR Crore)City
1MA Yusuff AliLulu3,200Abu Dhabi
2Prithvi Raj Singh OberoiEast India Hotels2,170New Delhi
3Paul JohnThe Paul Resorts & Hotels1,200Bengaluru
4Patanjali Govind Keswani & familyLemon Tree Hotels950New Delhi
5GVK Reddy & familyTaj GVK Hotels & Resorts460Hyderabad

Source: Hurun Research Institute 2020. GROHE Hurun India Real Estate Rich List 2020

Table 11: GROHE Hurun India Real Estate Rich List 2020 Top Commercial Property Developers

RankNameCompanyNet Worth  (INR Crore)City
1Rajiv SinghDLF36,430New Delhi
2Chandru  Raheja & familyK Raheja26,260Mumbai
3Jitendra VirwaniEmbassy Office Parks23,220Bengaluru
4Raja BagmaneBagmane Developers15,590Bengaluru
5Atul Ruia & familyPhoenix Mills6,340Mumbai

Source: Hurun Research Institute 2020. GROHE Hurun India Real Estate Rich List 2020

Self-Made entrepreneurs on the GROHE Hurun India Real Estate Rich List 2020

Mangal Prabhat Lodha & family of Macrotech Developers topsthe List with INR 44,270 crore, followed by Jitendra Virwani and Niranjan Hiranandani with wealth INR 23,220 core and INR 20,600 crore respectively.  

Table 12:  GROHE Hurun India Real Estate Rich List 2020 Top 10 Self-made Individuals

RankNameCompanyNet Worth (INR Crore)
1Mangal Prabhat Lodha & familyMacrotech Developers44,270
2Jitendra VirwaniEmbassy Office Parks23,220
3Niranjan HiranandaniHiranandani Communities20,600
4Raja BagmaneBagmane Developers15,590
5Subhash Runwal & familyRunwal Developers11,450
6Rameshwar Rao Jupally & familyMy Home Constructions5,450
7C Venkateswara ReddyAparna Constructions & Estates5,230
8S Subramanyam ReddyAparna Constructions & Estates5,180
9Roop Kumar BansalM3M India4,970
10Basant BansalM3M India4,940

Source: Hurun Research Institute 2020. GROHE Hurun India Real Estate Rich List 2020

Blockbuster Debut: 27 individuals debuted on the GROHE Hurun India Real Estate Rich List 2020):

Table 13: GROHE HURUN INDIA REAL ESTATE RICH LIST 2020 Debut

RankNameNet Worth – INR CroreCompany
1Atul Chordia & family3,830Panchshil Realty
2A Mohan Raju & family3,430Kalyani Developers
3Kumar Pritamdas Gera & family1,290Gera Developments
4Pankaj Bajaj & family1,170Eldeco Infrastructure & Properties
5Satish P Chandra & family1,050Global Tech Park
6G V Rao & family1,010SAS Infra
7Kabul Chawla & family940BPTP
8Sagar Chordia & family590Panchshil Realty
9G Madhushudhan & family570Sumadhura Infracon
10Apurva Salarpuria & family540Salarpuria Properties
11Getamber Anand & family510ATS Infrastructure
12Naresh Jagumal Karda & family400Karda Constructions
13Dharmendra Bhandari320Bestech India
14Sunil Satija320Bestech India
15Punit Beriwala300Vipul
16Srikant Krishnan290Skyline Foundations & Structures
17Lava Krishnan290Skyline Foundations & Structures
18KV Satish290DS Max Properties
19Kulwant Singh & family280Janta Land Promoters
20Rahul R Katyal280Capacite Infraprojects
21Abhay Chandak280Chandak
22Aditya Chandak280Chandak
23Manish Uppal & family280Uppal Housing
24Ankur Gupta260Ashiana Housing
25Varun Gupta260Ashiana Housing
26Vishal Gupta260Ashiana Housing
27Sanjay S Lalbhai & family250Arvind SmartSpaces

Source: Hurun Research Institute 2020.GROHE Hurun India Real Estate Rich List 2020

Table 14: GROHE Hurun India Real Estate Rich List 2020 Veterans and Young Companies

DeveloperYears of ExistenceDeveloperYears of Existence
DLF74Capacite Infraprojects8
Parinee Realty57Piramal Realty10
Puranik Builders52Arvind SmartSpaces12
Ajmera Realty & Infra India52DS Max Properties13
Anant Raj51M3M India13
Kalpataru 51Casagrand16
Marathon Nextgen Realty51Skyline Foundations & Structures16

Source: Hurun Research Institute 2020.GROHE Hurun India Real Estate Rich List 2020

Second-generation entrepreneurs have played a vital role in developing legacy companies, like Abhishek Lodha, the son of MP Lodha, being the brain behind Lodha’s evolution as the most valuable private brand in India.

Table 15: GROHE Hurun India Real Estate Rich List 2020 Second Generation Movers and Shakers

CompanySecond GenerationDesignation
DLFRajiv SinghChairman
Macrotech DevelopersAbhishek LodhaMD & CEO
K RahejaRavi C RahejaGroup President
Runwal DevelopersSandeep RunwalManaging Director
Piramal RealtyAnand PiramalFounder
Kalpataru C Parag M MunotManaging Director

Source: Hurun Research Institute 2020.GROHE Hurun India Real Estate Rich List 2020

Sales Comparison – thepercentage of companies in various sales brackets.

Chart 16:  GROHE Hurun India Real Estate Rich List 2020 Sales Range (All figures in INR Crore)

Source: GROHE Hurun India Real Estate Rich List 2020

11 companies on the List registered INR 2,000+ crore in sales. 26 companies registered INR 1,000+ Crore in sales compared to 20 last year.

Table 17: GROHE Hurun India Real Estate Rich List 2020 Top 5 Real Estate Companies by Market Capitalization

NoCompanyMarket Cap (INR Crore)PromoterPrimary Sector
1DLF57,637Rajiv SinghCommercial
2Godrej Properties36,086Godrej familyResidential
3Embassy Office Parks32,680Jitendra VirwaniCommercial
4Oberoi Realty21,198Vikas OberoiResidential
5Mindspace Business Parks19,024Chandru Raheja & familyCommercial

Source: Hurun Research Institute 2020. GROHE Hurun India Real Estate Rich List 2020

Table 18: Analysis of the cut-off required for Top 10, 50 and 100 (2017-2020)

 2020 INR Cr2019 INR Cr2018 INR Cr2017 INR Cr
Top 106,3406,5605,9003,350
Top 50960750860660
Top 100250300300310

Source: Hurun Research Institute; GROHE Hurun India Real Estate Rich List 2020

Table 19: Key Star Signs in Grohe Hurun India Real Estate List 2020

 Zodiac signTotal contribution to the list %Cumulative wealth %Richest Individual
Aquarius14%14%Jitendra Virwani
Pisces11%15%Niranjan Hiranandani
Gemini11%8%Subhash Runwal & family
Taurus9%14%Rajiv Singh
Virgo9%11%Vikas Oberoi
Libra8%11%Chandru Raheja & family
Capricorn7%3%Smita V Crishna
Aries7%1%Rajesh Anirudha Patil & family
Scorpio7%3%MA Yusuff Ali
Cancer6%1%Harshavardhan Neotia & family
Sagittarius6%19%Mangal Prabhat Lodha & family
Leo4%1%Renuka Talwar

Source: Hurun Research Institute; GROHE Hurun India Real Estate Rich List 2020

GROHE Hurun India Real Estate Rich List 2020 – TOP 100

RankNameWealth
INR Cr
CompanyCity of ResidencePrimary Sector
1Mangal Prabhat Lodha & family44,270Macrotech DevelopersMumbaiResidential
2Rajiv Singh36,430DLFNew DelhiCommercial
3Chandru Raheja & family26,260K RahejaMumbaiCommercial
4Jitendra Virwani23,220Embassy Office ParksBengaluruCommercial
5Niranjan Hiranandani20,600Hiranandani CommunitiesMumbaiResidential
6Vikas Oberoi15,770Oberoi RealtyMumbaiResidential
7Raja Bagmane15,590Bagmane DevelopersBengaluruCommercial
8Subhash Runwal & family11,450Runwal DevelopersMumbaiResidential
9Ajay Piramal & family6,560Piramal RealtyMumbaiResidential
10Atul Ruia & family6,340Phoenix MillsMumbaiCommercial
11Rameshwar Rao Jupally & family5,450My Home ConstructionsHyderabadResidential
12C Venkateswara Reddy5,230Aparna Constructions & EstatesHyderabadResidential
13S Subramanyam Reddy5,180Aparna Constructions & EstatesHyderabadResidential
14Roop Kumar Bansal4,970M3M IndiaGurugramResidential
15Basant Bansal4,940M3M IndiaGurugramResidential
16Adi Godrej4,840Godrej PropertiesMumbaiResidential
16Jamshyd Godrej4,840Godrej PropertiesMumbaiResidential
16Smita V Crishna4,840Godrej PropertiesMumbaiResidential
16Nadir Godrej4,840Godrej PropertiesMumbaiResidential
16Rishad Naoroji4,840Godrej PropertiesMumbaiResidential
21Mofatraj Pukhraj Munot4,270Kalpataru MumbaiResidential
22Bijay Kumar Agarwal & family4,170Sattva DevelopersBengaluruResidential
23Atul Chordia & family3,830Panchshil RealtyPuneResidential
24Kamal Khetan & family3,800Sunteck RealtyMumbaiResidential
25Renuka Talwar3,760DLFNew DelhiCommercial
26Pia Singh3,440DLFNew DelhiCommercial
27A Mohan Raju & family3,430Kalyani DevelopersBengaluruCommercial
28C Gopalan & family3,410Gopalan EnterprisesBengaluruCommercial
29MA Yusuff Ali3,200LuluAbu DhabiHospitality
30Veeranna Reddy3,150Embassy Office ParksBengaluruCommercial
31Irfan Razack2,510Prestige Estates ProjectsBengaluruResidential
31Rezwan Razack2,510Prestige Estates ProjectsBengaluruResidential
31Noaman Razack2,510Prestige Estates ProjectsBengaluruResidential
34PNC Menon & family2,350SobhaBengaluruResidential
35MR Jaishankar2,230Brigade EnterprisesBengaluruCommercial
36Prithvi Raj Singh Oberoi2,170East India HotelsNew DelhiHospitality
37Rajendra Lodha2,140Macrotech DevelopersMumbaiResidential
38Errol Fernandes1,640Ferns Estates & DevelopersBengaluruResidential
39Ravi Puravankara1,610PuravankaraBengaluruResidential
40Harshavardhan Neotia & family1,440Ambuja NeotiaKolkataResidential
41Anil Bhalla & family1,350VatikaNew DelhiCommercial
42Kumar Pritamdas Gera & family1,290Gera DevelopmentsPuneResidential
43Boman Rustom Irani1,230Keystone RealtorsMumbaiResidential
44Paul John1,200The Paul Resorts & HotelsBengaluruHospitality
45Pankaj Bajaj & family1,170Eldeco Infrastructure & PropertiesNew DelhiResidential
46Bikramjit Ahluwalia & family1,160Ahluwalia ContractsNew DelhiConstruction
47Satish P Chandra & family1,050Global Tech ParkBengaluruCommercial
48Sameer Gehlaut & family1,030Indiabulls Real EstateMumbaiResidential
49G V Rao & family1,010SAS InfraHyderabadCommercial
50Rohtas Goel & family960OmaxeNew DelhiCommercial
51Patanjali Govind Keswani & family950Lemon TreeNew DelhiHospitality
52Kabul Chawla & family940BPTPNew DelhiResidential
53Shapoorji Mistry890Shapoorji PallonjiMonacoResidential
53Cyrus Mistry890Shapoorji PallonjiMumbaiResidential
55M Arun Kumar770CasagrandChennaiResidential
56RK Arora & family700SupertechNoidaResidential
57Manoj Gaur690Gaursons IndiaNew DelhiResidential
58Sunil Mittal & family630Bharti RealtyNew DelhiCommercial
59Chandresh Dinesh Mehta620Keystone RealtorsMumbaiResidential
59Percy Sorabji Chowdhry620Keystone RealtorsMumbaiResidential
61Rajesh Anirudha Patil & family600Kolte-Patil DevelopersPuneResidential
62Sagar Chordia & family590Panchshil RealtyPuneResidential
62Mohinder Puri & family590Puri ConstructionsNew DelhiResidential
62Naresh Anirudha Patil & family590Kolte-Patil DevelopersBengaluruResidential
65G Madhushudhan & family570Sumadhura InfraconBengaluruResidential
66Ashok Sarin550Anant RajNew DelhiResidential
67Apurva Salarpuria & family540Salarpuria PropertiesKolkataCommercial
68Vijay Vasudev Wadhwa530Wadhwagroup HoldingsMumbaiResidential
69Getamber Anand & family510ATS InfrastructureNoidaResidential
70Rasesh B Kanakia & family500Kanakia Spaces RealtyMumbaiResidential
71Shyama Raju & family480Divyasree DevelopersBengaluruResidential
72GVK Reddy & family460Taj GVK Hotels & ResortsHyderabadHospitality
73Naresh Jagumal Karda & family400Karda ConstructionsNashikConstruction
73Ramniklal Z Shah & family400Marathon Nextgen RealtyMumbaiResidential
75Rakesh Bharti Mittal390Bharti RealtyNew DelhiCommercial
75Rajan Bharti Mittal390Bharti RealtyNew DelhiCommercial
75Rajnikant Shamalji Ajmera & family390Ajmera Realty & Infra IndiaMumbaiResidential
75Anand Mahindra & family390Mahindra Lifespace DevelopersMumbaiResidential
75Suresh L Raheja & family390Raheja UniversalMumbaiResidential
80Rohit R Katyal370Capacite InfraprojectsMumbaiConstruction
81Sunil Goel & family360OmaxeNew DelhiCommercial
82Bhaskar N Raju340Divyasree DevelopersBengaluruResidential
83Dharmendra Bhandari320Bestech IndiaGurugramResidential
83Sunil Satija320Bestech IndiaGurugramResidential
83Milind Kolte & family320Kolte-Patil DevelopersPuneResidential
86Punit Beriwala300VipulNew DelhiResidential
86Shailesh Puranik & family300Puranik BuildersThaneResidential
88Srikant Krishnan290Skyline Foundations & StructuresTrivandrumResidential
88Lava Krishnan290Skyline Foundations & StructuresCochinResidential
88KV Satish290DS Max PropertiesBengaluruResidential
88Nilesh Puranik & family290Puranik BuildersMumbaiResidential
92Kulwant Singh & family280Janta Land PromotersMohaliCommercial
92Manish Uppal & family280Uppal HousingNew DelhiResidential
92Rahul R Katyal280Capacite InfraprojectsMumbaiConstruction
92Abhay Chandak280ChandakMumbaiResidential
92Aditya Chandak280ChandakMumbaiResidential
97Vishal Gupta260Ashiana HousingNew DelhiResidential
97Ankur Gupta260Ashiana HousingNew DelhiResidential
97Varun Gupta260Ashiana HousingNew DelhiResidential
100Sanjay S Lalbhai & family250Arvind SmartSpacesAhmedabadResidential

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