Regional Headline :

India Tops China in Billion-dollar Realty Cos

Urbanisation and infra development help country emerge as top realty market with 36 cos valued at about a billion dollars, finds report

Our Bureau

Mumbai: India’s thriving property market achieved a major milestone, surpassing China in the tally of homegrown realty companies valued at $1billion. The South Asiannation is home to 36 such realty companies, climbing from just 7 six years ago, showed latest data compiled by Hurun Research Institute. The list includes market leader DLF, besides Macrotech Developersand Adani Realty.

Surge inthe valuationof Indianrealty companies underscores India’s burgeoning real estate market and its growing attractiveness to investors, both domestically and internationally. The data, part of the 2024 GROHE-Hurun India Real Estate100 report, revealed arobust growth trajectory in the sector, propelled by va rious factors including urbanisation, infrastructure development, and evolving consumer preferences. Notably, China’s real estate market is facing significant headwinds due to government clampdowns

and demand slow -— down. In MainThis land China, the underscores number of listed India'sreal realty firms valuestatemarket edatover$lbillion andits declined to 30 from growing 100, while in the attractive Hurun China 500, -nessto which has a thresinvestors hold of $3 billion,

the number dropped from 50 to just 10.

Mumbailed the top1001ist with 33 companies, followed by Bengaluru, New Delhi and Gurugram with 15,14 and 10 companies, respectively. The threshold to qualify for the

Stealing a March

TOPPERS IN INDIA

CHINA SITUATION Govt clampdowns, demand slowdown weigh

No. of listed cos valued at over a billiondollar fell to 30 from 100

Mumbai Bengaluru New Delhi Gurugram

list was 1,200 crore, a 30% on-year increase.

With a value of ?21akh crore, DLF emerged as India’s most valuable property developer. Macrotech Developers at 1.4 lakh crore, and In dian Hotels Company (IHCL) at 79,150 crore are at the second and third spots, respectively in the 2024 GROHE-Hurun India Real Estate 100. IHCL, which runs the Taj group of hotels, emerged as the most

valuable hospitality company in the list. For the first time since inception of the index, Adani Realty entered the list of top 10, growing 62% on-year, achieving a cumulative valuation of 56,500 crore, and is at7thrank. Adani Realty isalso the most valuable unlisted real estate company on thelist.

Withavaluation of 79,150 crore, IHCL occupied the 3rd spot, and Taj GVK, valued at 32,050 crore, occupied the 74th spot.

Asmuch as 86% of companies in the list saw their valuations surge by %6.2 lakh crore cumulatively. Sobha emerged as the top employer in the list with a workforce of 26,275 people.

Cumulative value of India’s most valuable realty firms swelled by 70%, a record since inception of thelist. This is inline with the BSE Realty Index, which soared 110%

during the last one year. Interestingly, 18 of the top 100 companies are led by professional CEOs who donot 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, thestudy showed.

Led by Pavitra Shankar, Bengaluru-based Brigade Enterprises, valued at 229,690 crore, and Hyderabad-based Taj GVK, led by G Indira Krishna Reddy, valued at 22,050 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 thelist, while Peninsula Land, founded in 1871 and valued at%1,830 crore, is the oldest.