Hurun India unveils Real estate Rich list 2020

Chennai, March, 2021: 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 December31, 2020. The GROHE Hurun India Real Estate Rich List 2020 ranks 100 individuals from 71 companies and 15 cities.

M P Lodha of Macrotech Developers tops the list for the 4th consecutive year followed by Rajiv Singh of DLF and ChandruRaheja 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

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 sawtop 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 countryand not surprisingly the real estate business in India remains highly localised relative to similar/developed economies.”

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