With a wealth of INR 1,24,420 crore, Rajiv Singh from DLF leads the 2024 GROHE-Hurun India Real Estate Rich, followed by Mangal Prabhat Lodha from Macrotech Developers with INR 91,700 crore at the second spot, and Gautam Adani & family from the Adani Realty with INR 56,500 crore at third. Of the top 10 on the real estate rich list, five are from Bengaluru and four from Mumbai.
Rajiv Singh, 65, the Managing Director of DLF, is the wealthiest Indian real estate entrepreneur with a wealth of INR 1.2 lakh crore, maintaining his position in the 2024 GROHE-Hurun India Real Estate 100. Singh’s pivotal role in fostering Haryana’s economic development was recognized with the Udyog Ratna Award in December 2005.
With a wealth of INR 91,700 crore, Mangal Prabhat Lodha and family of Macrotech Developers (formerly Lodha Group), maintains position as the second wealthiest in India’s real estate landscape. Macrotech Developers, currently spearheaded by Abhishek Lodha recorded its highest-ever pre-sales of INR 14,520 crore in FY24.
Gautam Adani and family secured the third position with a wealth of INR 56,500 crore, marking a 62% increase since 2023. Known for his strategic acumen and vision, Gautam Adani has steered Adani Realty into the top 10 in this year’s list.
Vikas Oberoi, 54, of Oberoi Realty, has risen to the fourth position on the list following a wealth surge of 96%, reaching INR 44,820 crore. Oberoi Realty has expanded into the National Capital Region (NCR) by acquiring 14.81 acres of land in Gurugram, Haryana, for INR 597 crore.
Chandru Raheja and family of K Raheja Group has moved down by one to the 5th position on the list despite seeing wealth grow by 65% over the past year. Currently, the company is strategizing the redevelopment of SOBO Central Mall, India’s pioneering mall, into a luxurious high-end residential project.
Atul Ruia, 53, has risen to the sixth position in the 2024 GROHE-Hurun India Real Estate 100 with a wealth of INR 26,370 crore, reflecting a remarkable 110% increase. Phoenix Mills is gearing up to elevate its presence with the addition of a third mall in Thane, Mumbai Metropolitan Region, alongside exploring promising prospects for a new hotel development.
Raja Bagmane, 64, of Bagmane Developers holds the seventh position with a wealth of INR 19,650 crore, reflecting a 5% increase. Recently, the Bengaluru-based company leased 2.23 lakh sq. ft of office space to Texas Instruments for a monthly rent of INR 1.4 crore.
Jitendra Virwani, 58, has secured the 8th position on the list with a wealth of INR 18,000 crore, despite experiencing a 53% decrease in his wealth over the past year. Notably, he is the only individual in the top 10 to have seen a reduction in wealth from 2023. Embassy Group, under his leadership, has become one of India’s leading real estate developers, known for its commercial properties and office spaces.
Irfan Razack, 70, Rezwan Razack, 69 and Noaman Razack, 66, of Prestige Estates Projects hold the ninth spot on the list, each with a wealth of 13,970 crore, marking a significant increase of 230%. Currently, Prestige Estates Projects manages 1,849 keys of hospitality assets across the country and plans to double its hospitality portfolio over the next three to four years, with a total investment of INR 1,700 crore.
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