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India's thriving property market surpassed Chinainthe tally of homegrown realty cos valued at $1billion. The South Asian nationis hometo 36 such firms against just 7 six years ago, showed data compiled by Hurun Research Institute. »» 13



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 billion dollars, finds report

Our Bureau

Mumbai: India has achieved a significant milestone in the global real estate sector, surpassing China in the number of billion-dollar real estate companies operating within its borders. The country is now home to a staggering 36 realty companies valued at a billion dollars, marking a remarkable increase from just seven companies six vears ago, showed the latest data compiled by the Hurun Research Institute.

This 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 Estate 100 report, reveals a robust growth trajectory in the sector, propelled by various factors including urba nization, infrastructure development, and evolving consumer preferences.

Notably, China’s real estate market isfacing significant headwinds due to government clampdowns

and demand slow nE— down. In Mainland This China, the number underscores of listed companiIndia’s real es valued at over a estatemarket Dbillion-dollar deand its clined 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,

Mumbai led the top 100 1ist with 33 companies, followed by Bengaluru with 15, New Delhi with 14 companies, and Gurugram with 10 companies. The threshold to gualify for

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the list was 1,200 crore, an 30% onyear increase.

With avalueof ₹2lakhcrore, DLF has emerged as India's most valuable real estate company. Macrotech Developers, at ₹1.4 lakh crore,

and Indian Hotels Company at T79.150 crore, are at the 2nd and 3rd spot in the 2024 GROHE-Hurun India Real Estate 100. IHCL or Taj Groupisthemostvaluable hospitality company in the list.

For the first time since the inception of the index, Adani Realty has entered the list of top 10. Adani Realty grew 62 % on year, witha cumulative valuation of #56,500 crore and is at 7th rank. Adani Realty is also the most valuable unlisted real estate company on the list.

With a valuation of 79,150 crore, Taj Group of Hotels (IHCL), led by Puneet Chhatwal, occupied the 3rd spot, and Taj GVEK, valued at 2,050 crore, occupies the 74th spot in list.

Around 86% of the companies in this list saw their value increase — a cumulative addition of 76.2 lakh crore. Employing 26,275 people, Sobhaemergedasthe topemployer in thelist. The cumulative value of India’s most valuable real estate companies grew by 70%, the highest ever since the inception of the list, Thisisin line with the BSE Realty Index, which grew by 110% du ring the vear. 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, which is more than the combined GDP of Oman and Sri Lanka, the study showed.

Led by Pavitra Shankar, Bengaluru-based Brigade Enterprises, valued at 29,690 crore, and led by G Indira Krishna Reddy, Hyderabadbased Taj GVK, valued at ₹2,050 crore, are the only two women-led companies in this top 100 list.

Founded 8 vears ago, Noida-based Max Estates and Gurugrambased Smartworks are the voungest companies in the list. Founded in 1871, Peninsula Land, valued at T1,830 crore, is the oldest company in the list.