+ All Categories
Home > Documents > GROHE HURUN INDIA REAL ESTATE RICH ... - …constructionworld.in/img/Grohe-Hurun-India.pdf · Lodha...

GROHE HURUN INDIA REAL ESTATE RICH ... - …constructionworld.in/img/Grohe-Hurun-India.pdf · Lodha...

Date post: 04-May-2018
Category:
Upload: hoangkhuong
View: 217 times
Download: 2 times
Share this document with a friend
26
1 GROHE HURUN INDIA REAL ESTATE RICH LIST 2017 DELHI BASED TYCOON KUSHAL PAL SINGH (86) OF DLF IS THE REAL ESTATE KING OF INDIA KUSHAL PAL SINGH TOPS THE LIST WITH A WEALTH OF INR 23,460 CRORE, FOLLOWED BY MUMBAI BASED MANGAL PRABHAT LODHA FROM LODHA GROUP WITH WEALTH INR 18,610 CRORE AND BENGALURU BASED JITENDRA VIRWANI FROM EMBASSY PROPERTY DEVELOPMENTS WITH A WEALTH INR OF 16,700 CRORE SMITHA V CRISHNA (66), OF GODREJ PROPERTIES IS THE RICHEST WOMAN WITH A FORTUNE OF INR 2,210 CRORE 3 CITIES, MUMBAI, NEW DELHI AND BENGALURU ARE HOME TO 74% OF THE GROHE HURUN INDIA REAL ESTATE RICH LIST MUMBAI, DELHI AND BENGALURU ARE THE TOP CITIES IN GROHE HURUN INDIA REAL ESTATE RICH LIST AND HURUN INDIA RICH LIST 35 INDIVIDUALS IN REAL ESTATE LIST ALSO FEATURED IN HURUN INDIA RICH LIST 6 BILLIONAIRES IN GROHE HURUN INDIA REAL ESTATE RICH LIST 2017 THE MENDA FAMILY, OWNS AND RUNS THE MOST VALUABLE COMMERCIAL SPACE DEVELOPER IN SOUTH INDIA, RMZ CORP VALUED AT INR 19,230 CRORE AVERAGE WEALTH OF GROHE HURUN INDIA REAL ESTATE RICH LIST 2017 IS INR 1,969 CRORE 60% OF THE LIST IS FIRST GENERATION ENTREPRENEURS 62% IN THE LIST ARE RESIDENTIAL DEVELOPERS, THE REST ARE COMMERCIAL, HOSPITALITY AND RETAIL REAL ESTATE DEVELOPERS AVERAGE AGE 56. THE TOP 10’S AVERAGE AGE IS 60. THE YOUNGEST IS KUNAL MENDA (23) WITH A NETWORTH OF INR 660 CRORE AND THE OLDEST IS PRITHVI RAJ SINGH OBEROI (88) OF EAST INDIA HOTELS WITH A NETWORTH OF INR 3,120 CRORE 7 UNDER 40 AND 4 INDIVIDUALS ABOVE 80 MUMBAI, THE MOST PREFERRED CITY FOR HEADQUARTERS PHILANTHROPISTS: AJAY PIRAMAL AND MA YUSUFF ALI ALSO FEATURED IN HURUN INDIA PHILANTHROPY LIST 2017 BY DONATING INR 111 CRORE AND INR 19 CRORE RESPECTIVELY.
Transcript

1

GROHE HURUN INDIA REAL ESTATE RICH LIST 2017

DELHI BASED TYCOON KUSHAL PAL SINGH (86) OF DLF IS THE REAL ESTATE

KING OF INDIA

KUSHAL PAL SINGH TOPS THE LIST WITH A WEALTH OF INR 23,460 CRORE, FOLLOWED BY MUMBAI BASED MANGAL PRABHAT LODHA FROM LODHA GROUP

WITH WEALTH INR 18,610 CRORE AND BENGALURU BASED JITENDRA VIRWANI FROM EMBASSY PROPERTY DEVELOPMENTS WITH A WEALTH INR OF 16,700

CRORE SMITHA V CRISHNA (66), OF GODREJ PROPERTIES IS THE RICHEST WOMAN WITH

A FORTUNE OF INR 2,210 CRORE

3 CITIES, MUMBAI, NEW DELHI AND BENGALURU ARE HOME TO 74% OF THE GROHE HURUN INDIA REAL ESTATE RICH LIST

MUMBAI, DELHI AND BENGALURU ARE THE TOP CITIES IN

GROHE HURUN INDIA REAL ESTATE RICH LIST AND HURUN INDIA RICH LIST

35 INDIVIDUALS IN REAL ESTATE LIST ALSO FEATURED IN HURUN INDIA RICH

LIST

6 BILLIONAIRES IN GROHE HURUN INDIA REAL ESTATE RICH LIST 2017

THE MENDA FAMILY, OWNS AND RUNS THE MOST VALUABLE COMMERCIAL SPACE DEVELOPER IN SOUTH INDIA, RMZ CORP VALUED AT INR 19,230 CRORE

AVERAGE WEALTH OF GROHE HURUN INDIA REAL ESTATE RICH LIST 2017 IS INR

1,969 CRORE

60% OF THE LIST IS FIRST GENERATION ENTREPRENEURS

62% IN THE LIST ARE RESIDENTIAL DEVELOPERS, THE REST ARE COMMERCIAL, HOSPITALITY AND RETAIL REAL ESTATE DEVELOPERS

AVERAGE AGE 56. THE TOP 10’S AVERAGE AGE IS 60. THE YOUNGEST IS KUNAL

MENDA (23) WITH A NETWORTH OF INR 660 CRORE AND THE OLDEST IS PRITHVI

RAJ SINGH OBEROI (88) OF EAST INDIA HOTELS WITH A NETWORTH OF INR 3,120

CRORE

7 UNDER 40 AND 4 INDIVIDUALS ABOVE 80

MUMBAI, THE MOST PREFERRED CITY FOR HEADQUARTERS

PHILANTHROPISTS: AJAY PIRAMAL AND MA YUSUFF ALI ALSO FEATURED IN

HURUN INDIA PHILANTHROPY LIST 2017 BY DONATING INR 111 CRORE AND INR 19 CRORE RESPECTIVELY.

2

LEADING AUTHORITY ON INDIA’S WEALTH RELEASES GROHE HURUN INDIA REAL ESTATE RICH LIST 2017 (5th October 2017, Mumbai, India) Hurun Report today released the GROHE Hurun

India Real Estate Rich List 2017 is the list of richest real estate entrepreneurs in India.

This is the first time a serious attempt has been made to understand about the real

estate entrepreneurs and to highlight their achievement through rich list as a medium.

“With a growing middle class population, it is imperative that India produces respectable

brands in real estate in the next few years. GROHE, a leader in premium sanitary fitting is

committed to bringing world class technology and design to consumers, and these key

developers are the powerful movers and shakers of the industry who appreciate and

acknowledge the best world has to offer. We are delighted to be in association with them

as this allows GROHE to create a platform for bringing world class solutions to the Indian

consumers via the developer community’, says Anas Rahman Junaid MD and Chief

Researcher, Hurun Report India.

“The growth in India’s middle class is driving strong demand for quality houses, which real estate brands have an opportunity to fulfill. I am delighted to partner with the Hurun Report India, India’s leading research house, to connect with consumers through their platform promoting respected real estate brands and entrepreneurs in India”, says Shubhajit Sen, Country Head, GROHE India. THE 2017 GROHE HURUN INDIA REAL ESTATE RICH LIST, other insights

Among self-made entrepreneurs in the list, Kushal Pal Singh tops the list

followed by Mangal Prabhat Lodha and Jitendra Virwani

With 38 individuals, Mumbai is the preferred city followed by New Delhi and

Bengaluru with 19 and 17 individuals respectively.

“The top 5 cities accounts for 86% of top 100 real estate rich-listers in India. Majority of

real estate developers are discreet, so for every entrepreneur who we have found, we

may have missed 2. Real estate holdings are rather scattered in India and there is a

good chance that we may have missed associated companies/ subsidiaries in certain

cases” says Anas Rahman Junaid, Managing Director and Chief Researcher, Hurun

Report India,

“The cut off of INR 300 crore is surprisingly low for a big country like India.” says Rupert

Hoogewerf, Chairman and Chief Researcher, Hurun Report Global.

3

Table 1: Top 10 in GROHE HURUN INDIA REAL ESTATE RICH LIST 2017

Rank Name Net Worth INR Crore Main Company Age City of Residence

1 Kushal Pal Singh 23,460 DLF 86 New Delhi

2 Mangal Prabhat Lodha 18,610 Lodha 61 Mumbai

3 Jitendra Virwani 16,700 Embassy Property Developments

51 Bengaluru

4 Yusuffali MA 12,180 Line investment and Property

61 Abu Dhabi

5 Vikas Oberoi 11,040 Oberoi Realty 47 Mumbai

6 Chandru Lachmandas Raheja

10,440 K Raheja Corp 77 Mumbai

7 Atul Ruia 5,160 Phoenix Mills 46 Mumbai

8 Sameer Gehlaut & family

5,050 Indiabulls Real Estate

43 Mumbai

9 Ajay Piramal 3,640 Piramal Realty 62 Mumbai

10 Surendra Hiranandani 3,350 Hiranandani Group

62 Singapore

10 Niranjan Hiranandani 3,350 Hiranandani Group

67 Mumbai

Source: Hurun Research Institute 2017 Kushal Pal Singh, 87, the wealthiest real estate baron in India, tops the list with a

fortune of INR 23,460 crore .The owner of Delhi Land and Finance (DLF) is one of the

largest real estate developers, who is a pioneer in developing Gurugram the leading

Financial and Industrial Hub in the country. The only real estate company that garnered

the largest IPO and developed 27 million square feet till date. He was conferred the

Padma Bhushan one of the highest civilian award in the country.

Mangal Prabhat Lodha, 61, with a net worth of INR 18,610 crore is the second richest

person in GROHE Hurun India Real Estate Rich List. He laid the foundation of the Lodha

Group. Lodha group is currently developing One Grosvenor Square, which is a premier

property and home to the former Canadian embassy. MP Lodha is currently serving as

the Member of Legislative Assembly.

Jitendra Virwani, 51, is considered the South India’s largest office space landlord with

a fortune of INR 16,700 crore. He is currently the chairman of the Embassy group and

has been a pioneer in building industrial parks and warehousing spaces. He owns the

Stone Hill International School, one of India’s largest private owned academies. He is

also a member of the equestrian federation of India.

4

Yusuffali MA, 61, manages his real estate investments in mall and hospitalities sectors

through Line Investment and Property (LIP), his real estate flagship company. LIP

currently manages more than 8.6m square feet of retail space across GCC and India

which will grow to encompass 12m square feet with the upcoming new projects by end

of 2018.He is the first Asian to be elected to the Abu Dhabi chamber of Commerce and

Industry. He has recently purchased site of the original Scotland Yard police station in

London to construct a five star hotel.

Vikas Oberoi, 47, a Harvard Alumnus who runs the Oberoi Realty, has a wealth of INR

11,040 crore. He took over the reins of the company started by his father Ranvir Oberoi.

His corporate strategy and diversification plan has seen a massive growth for Oberoi

Realty in nine folds with a net profit of 40 percent. Under his guidance the firm has 22

million square feet in progress and brands such as Ritz Carlton.

Chandru Lachmandas Raheja, 77, heads the privately held commercial developer in

Mumbai with a fortune of INR 10,440 crore. K Raheja Corp has portfolio of completely

leased 20 million sq ft office spaces across Mumbai, Navi Mumbai, Hyderabad and

Pune. K Raheja Corp developed the first organised suburban business park, Mindspace,

in Mumbai’s Malad suburb.

Atul Ruia, 46, the Textile tycoon who started the mall chains under the Phoenix brand

which attracts 12 million shoppers every year has a wealth of INR 5,160 crore. He was

educated at the Wharton school of finance. He is known for taking high risk in the market

for large investments. He was instrumental in setting the High Street Phoenix in Mumbai

by rebuilding over the family mill.

Sameer Gehlaut, 43, founder of Indiabulls Group is an alumni of IIT Delhi, who has

wealth amounting to INR 5,050 crore. Indiabulls is one of the top dividend paying firms

and a AAA rated company. Indiabulls Group is the third largest real estate company and

has delivered a record of 4.7 million square feet under Mr Gehlaut’s guidance.

Ajay Piramal, 62, a Harvard Alumnus who leads the Piramal Group, has a wealth of INR

3,640 crore. He evolved the textile business to conglomerate with diversified business

interest. His corporate strategy and diversification plan has seen a massive growth for

Piramal Realty. Under his leadership the firm has over 10 million square feet developed.

The Piramal Realty developed India’s first mall, Crossroads, at South Mumbai.

Niranjan Hiranandani and Surendra Hiranandani established the Hiranandani group

in the late 1970s by. The Mumbai-based developer has presence across commercial,

residential, hospitality and education segments. The group is one of the early

developer’s to undertake township development projects, such as Hiranandani Gardens

in Powai and Hiranandani Meadows and Hiranandani Estate in Thane.

5

The Richest Real Estate families

Indian Real Estate is primarily run by families. The families with highest number of entrants in GROHE Hurun India Real Estate Rich List 2017 is listed below

Richest Family Company Name No. of individuals City

Menda Family RMZ Corp 6 Bengaluru

Godrej Family Godrej Properties 5 Mumbai

Gupta Family Ashiana Housing 3 New Delhi

Razack Family Prestige Estate Projects 3 Bengaluru

Source: Hurun Research Institute 2017 Where they live.

By state, Maharashtra tops the list with 38 real estate entrepreneurs in the list,

followed by Delhi with 19 individuals and Karnataka with 17 individuals.

Table 2: GROHE Hurun India Real Estate Rich List 2017 by State

Rank State No of Individuals Richest Individual Net Worth INR Crore

1 Maharashtra 39 Mangal Prabhat Lodha 18,610

2 Delhi 19 Kushal Pal Singh & family 23,460

3 Karnataka 17 Jitendra Virwani 16,700

4 West Bengal 8 Harsh Vardhan Neotia & family 780

5 Tamil Nadu 4 M Arun Kumar, K R Anerudan 620

6 Telangana 2 S Subrahmanyam Reddy, C Venkateswara Reddy

670

7 Haryana 2 Sunil Satija, Dharmendra Bhandari

670

7 Kerala 2 KV Abdul Azeez & family 670

9 Punjab 1 Kulwant Singh & family 580

9 Gujarat 1 Dipakbhai kumar Govindbhai Patel & family

350

9 Rajasthan 1 Nand Kishore Gupta & family 350

Source: Hurun Research Institute 2017

6

Housing Price Index

RBI Housing price index indicates that demonetization has a positive impact on housing

prices. Housing price index rose 10% for the 9 months ended on September 2017

compared to marginal growth rate of 3% in FY 16. All major cities have recorded a price

increase after demonetization except Jaipur where the prices are 3% below the pre

demonetization level. Lucknow, Chennai and Ahmedabad recorded post demonetization

housing price rise of 30%, 20% and 17% respectively.

“Based on a survey with the real estate agents in and around India, one could expect

the house price to go up in the short term and a possible correction in 5 years especially

in small cities. This is supported by inventory overhang and possible long term effects of

the current GDP slow down.” says Anas Rahman Junaid, MD and Chief Researcher,

Hurun Report India.

Source: RBI Data, Hurun Research Institute 2017

107 134 161 181 212 219 240

26%

20%

12%

18%

3%

10%

0%

5%

10%

15%

20%

25%

30%

0

50

100

150

200

250

300

FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 Q3FY 17

Housing Price Index Value Annual Growth Rate (%)

7

Leverage in GROHE Hurun India Real Estate Rich List 2017 84% of companies in GROHE Hurun India Real Estate List 2017 are leveraged. More

than half of the companies have a debt to equity ratio of less than 100%, indicating the

strength of their balance sheet and their scale up potential. This analysis also validates

the stable rating received by these companies from rating agencies such as CRISIL,

ICRA, CARE and Brickwork. The companies with a lower debt to equity ratio has higher

valuation compared to their overleveraged peers in the List.

Chart: GROHE Hurun India Real Estate Rich List 2017, Percentage of companies in the list (Y axis) versus Debt to Equity Ratio (X axis)

Source: Ministry of Corporate Affairs, Company Data

54% 30% 16%0%

10%

20%

30%

40%

50%

60%

>100% 100% -200% <200%

8

Richest in each city

By city, Mumbai leads with 38 individuals, followed by New Delhi with 19. Mangal

Prabhat Lodha from Lodha Group is the richest real estate entrepreneur in Mumbai.

Table 3: GROHE Hurun India Real Estate Rich List 2017 by City

Rank City No. of individuals

Richest Individual Net Worth INR Crore

1 Mumbai 38 Mangal Prabhat Lodha 18,610

2 New Delhi 19 Kushal Pal Singh & family 23,190

3 Bengaluru 17 Jitendra Virwani 16,700

4 Kolkata 8 Harsh Vardhan Neotia & family 750

5 Chennai 4 M Arun Kumar, K R Anerudan 600

6 Hyderabad 2 S Subrahmanyam Reddy, C Venkateswara Reddy

650

7 Gurugram 2 Sunil Satija, Dharmendra Bhandari 650

7 Cochin 2 KV Abdul Azeez & family 650

9 Mohali 1 Kulwant Singh & family 560

9 Ahmedabad 1 Dipakbhai kumar Govindbhai Patel 340

9 Pune 1 Rajesh Anirudha Patil & Family 1,110

9 Jaipur 1 Nand Kishore Gupta & family 340

Source: Hurun Research Institute 2017

9

Top Property Developers by City

Table 4: GROHE Hurun India Real Estate Rich List 2017, Top Property

Developers by City

City Name Main Company Main Company

Value (In INR Crore)

Delhi

Kushal Pal Singh DLF 29,258

Gourav Burman & family

Burman GSC 3,200

Prithvi Raj Singh Oberoi

East India Hotels 7,659

Mumbai

Mangal Prabhat Lodha

Lodha Developers 18, 610

Vikas Oberoi Oberoi Realty 14,377

Chandru Lachmandas Raheja

K Raheja Corp 10,440

Bengaluru

Jitendra Virwani Embassy Property Developments

16,700

PNC Menon Sobha 3,815

Raj Menda, Manoj Menda

RMZ Corp 19,230

Kolkata

Harsh Vardhan Neotia & family

Ambuja Neotia 1,340

Nandu K. Belani & family

Riverbank Developers

535

Ram Naresh Agarwal & family

Srijan Realty 380

Chennai

K R Anerudan and M Arun Kumar

Casa Grande 2,400

Sudhir Kumar Surana & family

Amarprakash Developers

520

Ravi Appaswamy Appaswamy Real Estate

490

Hyderabad

C Venkateswara Reddy and S Subhramanyam Reddy

Aparna Constructions and Estates

1,300

Cochin

KV Abdul Azeez & family

Skyline Builders 650

Sunil Kumar Asset Homes 380

Source: Hurun Research Institute 2017

10

The real estate players have broadly categorised the market into Premium,

Aspirational and Affordable segments.

Table 5: GROHE Hurun India Real Estate Rich List 2017, top property developers

with focus on premium housing

Rank Name Main Company Net Worth (INR Crore)

Age

1 Mangal Prabhat Lodha Lodha Developers 18,610 61

2 Vikas Oberoi Oberoi Realty 11,040 47

3 Sameer Gehlaut & family Indiabulls Real Estate 5,050 43

4 Rajesh Anirudha Patil &

Family Kolte-Patil Developers 1,120 54

5 Sushil Pandurang Mantri Mantri Developers 800 54

Source: Hurun Research Institute 2017

In the Premium segment, Lodha group leads the pack, with total 6 million square feet

developed till date. The Oberoi group seconds the list with over 39 prime properties

followed by Indiabulls Real estate. Kolte-Patil is an exceptionally efficient player in the

top five for delivering projects on time rated by its customers followed by the only

Bengaluru based real estate Mantri developers that made to the top five. Each of these

real estate magnates have their own unique signature style catering to the Premium

segment.

11

Table 6: GROHE Hurun India Real Estate Rich List 2017, Top Property

Developers focus on Aspirational customers

Name Main Company Net Worth (INR Crore)

Age City msqf developed

1 PNC Menon Sobha

Developers 2,710 68 Bengaluru 87

2 Adi Godrej Godrej Properties 2,210 75 Mumbai 90

3 Ravi Puravankara Puravankara 1,420 65 Bengaluru 25

4 KR Anerudan,

M Arun Kumar Casa Grande 620 37 Chennai 2.1

5 Ashok Sarin, Anil Sarin Anant Raj 570 65 New Delhi 62

Source: Hurun Research Institute 2017

In the aspirational segment, Bengaluru based Sobha developers lead the pack. Sobha

Developers has completed 118 real estate projects till date. Godrej properties falls in the

top five with its signature properties in and around the financial capital (Mumbai) and has

developed around 90 million square feet till date.

Table 7: GROHE Hurun India Real Estate Rich List 2017, Top Property

Developers focus on Affordable Customer Segment

Name Main Company Net Worth (INR Crore)

Age City msqf developed

1 Rohtas Goel Omaxe 2,890 55 New Delhi 101

2 Mofatraj Pukhraj Munot Kalpataru 1,730 72 Mumbai 15

3 Manoj Gaur Gaursons India 930 48 Ghaziabad 5

4 Ramniklal Z Shah Marathon

Nextgen Realty

818

830 84 Mumbai 2

5 Harsh Vardhan Neotia Ambuja Neotia 780 56 Kolkata -

Source: Hurun Research Institute 2017

The top five in the affordable category caters to the middle class and above segment.

Omaxe tops in the affordable category completed around 101 million square feet

projects. Followed by the Mumbai based Kalpataru who have created a niche for

themselves in the Maharashtra region. NCR based real estate player Manoj Gaur has

registered with his signature project Gaur Yamuna City, which had a massive PR

strategy in and around the NCR region. The Kolkata based Harsh Vardhan Neotia

entered top five in the affordable category with its ecology based construction theme in

and around Kolkata.

12

Table 8: GROHE Hurun India Real Estate Rich List 2017, Top Property

Developers in the residential category

Name Main Company

Net Worth (INR Crore)

Age Primary cities

1 Mangal Prabhat Lodha Lodha

Developers 18,610 61

Mumbai and

Pune

2 Vikas Oberoi Oberoi Realty 11,040 47 Mumbai

3 Sameer Gehlaut &

family

Indiabulls Real

Estate 5,050 43

Mumbai and

Delhi

4 Kamal Khetan & family Sunteck Realty 3,200 49 Mumbai

5 Rohtas Goel Omaxe 2,890 55 Noida and

Faridabad

Source: Hurun Research Institute 2017

Lodha developers focus exclusively in Mumbai and in Pune markets and saw an

increase in demand in Pune due to its start-up and educational opportunities. Similarly

Oberoi Realty has created a brand in Mumbai region and was awarded the “Best

upcoming Premium residential project in Mumbai “at the SAARC summit. Indiabulls

tops the list in the residential segment due to its high market capitalization in terms of

investment and quality projects. Premium based realtor Sunteck Realty has made an

exceptional mark with its ultra-premium projects in and around Mumbai. The Only

NCR realtor to top the 5 list is Rohtas Goel, Omaxe where maximum projects were

developed in Noida and Faridabad.

13

Table 9: GROHE Hurun India Real Estate Rich List 2017, Top Property

Developers in Commercial segment

Name Main Company Net Worth (INR Crore)

Age City msqf developed

1 Kushal Pal Singh DLF 23,460 86 New Delhi 27

2 Jitendra Virwani Embassy Property

Developments 16,700 51 Bengaluru 24

3 Chandru Lachmandas

Raheja K Raheja Corp 10,440 77 Mumbai 20

4 Niranjan Hiranandani,

Surendra Hiranandani Hiranandani 3,350 67 Mumbai 5

5 Gourav Burman & family Burman GSC 3,200 45 New Delhi 15

Source: Hurun Research Institute 2017

The real estate baron, Kushal Pal Singh’s DLF tops the commercial category with

developments in and around NCR region and spread in few regions in South India;

they are followed by Jitendra Virwani, the magnate who brought in the chain of

Embassy Office spaces catering to most of the blue chip companies in India, focusing

on Bengaluru - the start-up hub. K Raheja Corp has more than 20million sq ft income-

producing office portfolio across west and South.The Hiranandani’s have become one

of the pioneers in the commercial segment with its unique neo classical structures and

unique designs.

“We believe that Indian Real Estate Brands are going to grow very powerfully over the

next 5 years, very much in line with comparable economies such as China”, says Anas

Rahman Junaid, Managing Director and Chief Researcher, Hurun Report.

14

Top 10 Real Estate Self Made entrepreneurs

Kushal Pal Singh & family of DLF top the list with INR 23,460 Crore, followed by

Mangal Prabhat Lodha and Jitendra Virwani with wealth INR 18,610 Crore and INR

16,700 Crore respectively.

Table 10: GROHE Hurun India Real Estate Rich List 2017, Top 10 Self-made

individuals

Name Main Company Net Worth (INR crore)

Age

1 Kushal Pal Singh & family DLF 23,460 86

2 Mangal Prabhat Lodha Lodha 18,610 61

3 Jitendra Virwani Embassy Property

Developments 16,700 51

4 Yusuffali MA Line investment and Property 12,180 61

5 Sameer Gehlaut & family Indiabulls Real Estate 5,050 43

6 Niranjan Hiranandani Hiranandani Group 3,350 67

7 Surendra Hiranandani Hiranandani Group 3,350 62

8 Kamal Khetan & family Sunteck Realty 3,200 49

9 Rohtas Goel Omaxe 2,890 55

10 PNC Menon Sobha 2,710 68

Source: Hurun Research Institute 2017

Under 40 Real Estate entrepreneurs

Kunal Menda of RMZ is the youngest entrepreneur under 40. Menda Family is possibly

one of the biggest commercial spaces developers in India. Sidharth Menda, 28 follows

Kunal Menda.

Interestingly, KV Satish, 40, of DS Max is also a film actor in Telugu. His movie

Yamaleela 2 was an average box office grosser.

2 of the under 40 are self-made, 4 are inherited and active in the business. Although

Kunal Menda owns shares in RMZ, he is completing his PhD on Aeronautics and

Astronautics at Stanford.

Average age of under 40 in the List is 34. Bengaluru is home to most number of young

entrepreneurs.

15

Table 11: GROHE Hurun India Real Estate Rich List 2017, Under 40 Real Estate entrepreneurs

Source: Hurun Research Institute 2017

Rank Name Age Wealth

2017 (INR

Crore)

City of

residence Company

Source of

Wealth

Degree of

self

madeness

Gene-

ration

1 Kunal Menda 23 660 Bengaluru RMZ Corp Inherited 1 3

2

Sidharth

Menda 28 660 Bengaluru RMZ Corp Inherited 3 3

3 Varun Gupta 33 370 New Delhi

Ashiana

Housing Inherited 3 2

4

Apurva

Salarpuria 34 450 Kolkata Salarpuria Inherited 3 3

5

K R

Anerudan 37 620 Chennai

Casa

Grande

Self -

made 5 1

6 KV Satish 40 500 Bengaluru

DS Max

Properties

Self-

made 5 1

6 Ankur Gupta 40 370 New Delhi

Ashiana

Housing Inherited 3 2

16

Table 12: Self-Made Score Card and Percentage of Real Estate entrepreneurs

Self-Made Scorecard

% of Real Estate Individuals

Richest

Wealth INR Core

Company

5 29% Kushal Pal Singh

23,460

DLF

4 24% Mangal Prabhat Lodha

18,610

Lodha Developers

3 44% Vikas Oberoi

11,040

Oberoi Realty

2 No one in the list has inherited a company and then de-grown it.

1 3% Anupama Menda & Neetu Menda

1,320

RMZ Corp

Source: Hurun Research Institute 2017

17

35 individuals in Hurun India Rich List 2017 BSE Realty index have surged on positives such as RERA and affordable housing

initiatives by the current government. Consumer Durables gained over 32.7% on timely

GST developments and rollout. Banking and Financial sectors gained with RBI stepping

in to solve the NPA issues.

Real Estate sector is in top 10 most performing sectors in Hurun India Rich List 2017.

In 2017, real estate sector contributed 15 more individuals to Hurun India Rich List. Real

Estate posted 63% increase in average wealth compared to that of 2016.

Kushal Pal Singh (86) of DLF is the richest real estate billionaire in the list with a wealth

of INR 23,460 crore. Mangal Prabhat Lodha (61), founder of Lodha Group is the richest

private real estate developer in the list with a wealth of INR 18,610 crore followed by

Jitendra Virwani (51) of Embassy Property Developments with INR 16,700 crore.

18

Table 13: The table below shows the entrants in GROHE Hurun India Real Estate Rich List 2017 in Hurun India Rich List 2017-10-01

Name Wealth INR Cr Company

Kushal Pal Singh 23,460 DLF

Mangal Prabhat Lodha 18,610 Lodha Developers

Jitendra Virwani 16,700 Embassy Property Developments

Yusuffali MA 12,180 Line investment and Property

Vikas Oberoi 11,040 Oberoi Realty

Chandru Lachmandas Raheja 10,440 K Raheja Corp

Atul Ruia 5,160 Phoenix Mills

Sameer Gehlaut & family 5,050 Indiabulls Real Estate

Ajay Piramal 3,640 Piramal Realty

Niranjan Hiranandani 3,350 Hiranandani

Surendra Hiranandani 3,350 Hiranandani

Kamal Khetan & family 3,200 Sunteck Realty

Prithvi Raj Singh Oberoi 3,120 East India Hotels

Rohtas Goel 2,890 Omaxe

PNC Menon 2,710 Sobha

Raj Menda 2,660 RMZ Corp

Manoj Menda 2,660 RMZ Corp

Irfan Razack 2,620 Prestige Estate Projects

Rezwan Razack 2,620 Prestige Estate Projects

Noaman Razack 2,620 Prestige Estate Projects

Adi Godrej 2,210 Godrej Properties

Jamshyd Godrej 2,210 Godrej Properties

Nadir Godrej 2,210 Godrej Properties

Rishad Naoroji 2,210 Godrej Properties

Smitha V Crishna 2,210 Godrej Properties

Mofatraj Pukhraj Munot 1,730 Kalpataru

MR Jaishankar 1,460 Brigade Group

Ravi Puravankara 1,420 Puravankara

Neetu Menda 1,320 RMZ Corp

Anupama Menda 1,320 RMZ Corp

Bikramjit Ahluwalia family 1,300 Ahluwalia Contracts

Ashok Sarin & Anil Sarin 1,140 Anant Raj

Rajesh Anirudha Patil & Family 1,120 Kolte-Patil Developers

Rakesh Wadhawan & family 980 HDIL

Manoj Gaur 930 Gaursons India

Source: Hurun Research Institute 2017

19

Sales Comparison

Most of the valuation has been conducted effecting valuation multiples on reported sales figures. Chart below depicts the percentage of companies in various sales bracket. 14 companies in list registered a sales of more than INR 2,000 crore and around 35 companies registered a sales of more than INR 1,000 crore. “A further drop in repo rate would result in cheaper loans/ EMIs. Heightened accountability due to RERA and potential benefits transfer to customers due to GST input credits will improve not only developers’ sentiments and credibility but also the buying capability of the customers”, says Anas Rahman Junaid, MD and Chief Researcher, Hurun Report India. Chart: GROHE Hurun India Real Estate Rich List 2017, the chart depicts the sales range of various companies in the list. (All figures in INR crore)

Source: Hurun Research Institute 2017

43%

22% 21%

14%

<500 500-1000 1000-2000 > 2000

20

Credit worthiness of companies in GROHE Hurun India Real Estate Rich List

2017 Only 76% of companies are credit rated - ICRA (18%), CRISIL (17%) and Brickwork (16%). 99% of rated companies in GROHE Hurun India Real Estate Rich List 2017 have a stable credit, rating reaffirms the quality of business listed . For three companies in the list, ratings have been withdrawn by the respective agencies.

Table 14: Top 5 Real Estate Companies by market capitalization in GROHE

Hurun India Real Estate Rich List 2017

No: Company

Market

Capitalization (INR Crore)

Promoter

Head Quarter

Primary Sector

1 DLF

29,258 Kushal Pal Singh

New Delhi Commercial

2 Oberoi Realty

14,377 Vikas Oberoi

Mumbai Residential

3 Godrej Properties

13,402 Godrej Family

Mumbai Residential

4 Indiabulls Real Estate

10,485

Sameer Gehlaut & family

Mumbai Residential

5 Prestige Estate Projects

10,218

Irfan Razack & family

Bengaluru Commercial

Source: Hurun Research Institute 2017

The real estate business communities

The top 100 real estate barons are more than 40% from the Baniya community and

another 2% from the Parsi community. The Baniyas are considered the mercantile

community in India consisting of the Marwaris, Gujaratis and Sindhis, followed by the

Parsis who have been major traders from the early independence days and the rest from

the Non Baniya community.

21

Methodology

The GROHE Hurun India Real Estate Rich List 2017 is a snapshot of wealth as on 30

September 2017. This is a sub list of Hurun India Rich List 2017. We have tried to limit

the valuation to primary ownership in Indian real estate businesses registered in

Ministry of Corporate Affairs, however there could be outliers. For instance, Godrej

group is a diversified conglomerate with diverse business interest and Adi Godrej has a

valuation of INR 37,800 crore in Hurun India Rich List 2017. However, in the GROHE

Hurun India Real Estate Rich List 2017, we have considered the valuation of Godrej

Properties for Adi Godrej, which would translate to INR 2,210 crore.

Valuing the wealth of India’s richest is as much an art as it is a science. Sure, we have

missed some, but we believe the GROHE Hurun India Real Estate Rich List 2017 to be

the most serious attempt to identify India’s top entrepreneurs and to measure value of

their holdings in the respective real estate businesses. Our team of researchers have

cross checked information with entrepreneurs, industry experts, journalists, bankers,

and regulators, government filings, as well as previous years’ 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 and also other methodologies including Discounted Cash Flow,

and so on. We have not included undeveloped land holdings in our list.

This year, we have split out siblings; so, for companies like Godrej Properties we have

split the net worth across five individuals.

22

GROHE Hurun India Real Estate Rich List 2017 – TOP 100

Rank Name Wealth

INR Cr Company

City of

Residence Age Primary Sector

1 Kushal Pal Singh 23,460 DLF New Delhi 86 Commercial

2 Mangal Prabhat Lodha 18,610 Lodha Developers Mumbai 61 Residential

3 Jithendra Virwani 16,700 Embassy Property Developments

Bengaluru 51 Commercial

4 Yusuffali MA 12,180 Emke Group Abu Dhabi 61 Hospitality

5 Vikas Oberoi 11,040 Oberoi Realty Mumbai 47 Residential

6 Chandru Lachmandas Raheja 10,440 K Raheja Corp Mumbai 77 Commercial

7 Atul Ruia 5,160 Phoenix Mills Mumbai 46 Retail

8 Sameer Gehlaut & family 5,050 Indiabulls Real Estate Mumbai 43 Residential

9 Ajay Piramal 3,640 Piramal Realty Mumbai 62 Hospitality

10 Niranjan Hiranandani 3,350 Hiranandani Mumbai 67 Residential

10 Surendra Hiranandani 3,350 Hiranandani Singapore 62 Residential

12 Kamal Khetan & family 3,200 Sunteck Realty Mumbai 49 Residential

12 Gourav Burman & family 3,200 Burman GSC London 45 Commercial

14 Prithvi Raj Singh Oberoi 3,120 East India Hotels New Delhi 88 Hospitality

15 Rohtas Goel & family 2,890 Omaxe New Delhi 55 Residential

16 PNC Menon 2,710 Sobha Bengaluru 68 Residential

17 Manoj Menda 2,660 RMZ Corp Bengaluru 49 Commercial

17 Raj Menda 2,660 RMZ Corp Bengaluru 55 Commercial

19 Irfan Razack 2,620 Prestige Estate Projects Bengaluru 63 Commercial

19 Noaman Razack 2,620 Prestige Estate Projects Bengaluru 59 Commercial

19 Rezwan Razack 2,620 Prestige Estate Projects Bengaluru 62 Commercial

22 Adi Godrej 2,210 Godrej Properties Mumbai 75 Residential

22 Jamshyd Godrej 2,210 Godrej Properties Mumbai 68 Residential

22 Nadir Godrej 2,210 Godrej Properties Mumbai 66 Residential

22 Rishad Naoroji 2,210 Godrej Properties Mumbai 66 Residential

22 Smitha V Crishna 2,210 Godrej Properties Mumbai 66 Residential

27 Mofatraj Pukhraj Munot 1,730 Kalpataru Mumbai 72 Residential

28 MR Jaishankar 1,460 Brigade Group Bengaluru 63 Commercial

29 Ravi Puravankara 1,420 Puravankara Bengaluru 65 Residential

30 Anupama Menda 1,320 RMZ Corp Bengaluru 45 Commercial

30 Neetu Menda 1,320 RMZ Corp Bengaluru 50 Commercial

32 Bikramjit Ahluwalia family 1,300 Ahluwalia Contracts New Delhi 77 Construction

33 Rajesh Anirudha Patil & family

1,120 Kolte-Patil Developers Pune 54 Residential

34 Rakesh Wadhawan & family 980 HDIL Mumbai 64 Commercial

35 Manoj Gaur 930 Gaursons India New Delhi 48 Residential

36 Ramniklal Z Shah & family 830 Marathon Nextgen Realty Mumbai 84 Residential

37 Sunil Mittal & Family 800 Bharti Realty New Delhi 59 Commercial

37 Sushil Pandurang Mantri 800 Mantri Developers Bengaluru 54 Residential

39 Harsh Vardhan Neotia & family

780 Ambuja Neotia Kolkata 56 Residential

40 Boman Rustom Irani 760 Keystone Realtors Mumbai 48 Residential

23

41 Pradeep Kumar Jain 700 Parsvnath Developers New Delhi 52 Residential

41 Babulal Mulchand Varma & family

700 Omkar Realtors Mumbai 47 Residential

41 Kamal Kishore Gupta & family

700 Omkar Realtors Mumbai 59 Residential

44 Punit Beriwala 680 Vipul New Delhi 52 Residential

45 C Venkateswara Reddy 670 Aparna Constructions and Estates

Hyderabad 56 Residential

45 S Subrahmanyam Reddy 670 Aparna Constructions and Estates

Hyderabad 56 Residential

45 Dharmendra Bhandari 670 Bestech India Gurugram 56 Residential

45 Sunil Satija 670 Bestech India Gurugram 54 Residential

45 KV Abdul Azeez & family 670 Skyline Builders Cochin 62 Residential

50 Kunal Menda 660 RMZ Corp Bengaluru 23 Commercial

50 Sidharth Menda 660 RMZ Corp Bengaluru 28 Commercial

52 Sukhbir Singh Jaunapuria & family

640 S S Group New Delhi 59 Residential

53 K R Anerudan 620 Casa Grande Chennai 37 Residential

53 M Arun Kumar 620 Casa Grande Chennai 41 Residential

55 Shrikant Paranjape & Shashank Paranjape

610 Paranjape Schemes Mumbai 59 Residential

55 DN Taneja & family 610 TDI Infrastructure New Delhi 74 Commercial

57 Raj Singh Gehlot & family 580 Ambience New Delhi 58 Commercial

57 Kulwant Singh & family 580 Janta Land Promoters Mohali 55 Commercial

59 Anil Sarin 570 Anant Raj New Delhi 65 Residential

59 Ashok Sarin 570 Anant Raj New Delhi 76 Residential

61 Rohit R Katyal 540 Capacite Infraprojects Mumbai 46 Construction

61 Sudhir Kumar Surana & family

540 Amarprakash Developers Chennai 54 Residential

63 Rajnikant Shamalji Ajmera & family

520 Ajmera Realty & Infra India

Mumbai 64 Residential

64 Shilpa Gupta 500 Emaar MGF Land New Delhi 41 Residential

64 KV Satish 500 DS Max Properties Bengaluru 40 Residential

64 Ravi Appaswamy 500 Appaswamy Real Estate Chennai 49 Residential

67 Deepak Kishan Goradia 490 Dosti Realty Mumbai 54 Residential

68 Rahul R Katyal 470 Capacite Infraprojects Mumbai 42 Construction

69 Rasesh B. Kanakia & family 460 Kanakia Spaces Realty Mumbai 56 Residential

69 Ujjawala Haware & family 460 Haware Group Mumbai 42 Residential

71 Apurva Salarpuria 450 Salarpuria Kolkata 34 Commercial

71 Jude Romell & Dominic Romell

450 Romell Real Estate Mumbai 59 Residential

71 Ashokkumar B. Chhajer 450 Arihant Superstructures Mumbai 48 Residential

74 Dilip kumar dhandhania 410 Salarpuria Kolkata 46 Commercial

74 Gautam chakraborty 410 Salarpuria Kolkata 59 Commercial

76 Urvi A. Piramal 400 Peninsula Land Mumbai 65 Commercial

76 Nandu K Belani & family 400 Riverbank Developers Kolkata 57 Residential

24

76 Sanjay Chandra & Ajay Chandra

400 Unitech New Delhi 45 Commercial

76 Anil Kumar & Sunil Kumar 400 Krishna Enterprises Bengaluru 53 Residential

80 Ram Naresh Agarwal & family 390 Srijan Realty Kolkata 50 Residential

80 GP Gupta & family 390 Ajnara Group New Delhi Residential

82 Chandresh Dinesh Mehta 380 Keystone Realtors Mumbai 48 Residential

82 Percy Sorabji Chowdhry 380 Keystone Realtors Mumbai 46 Residential

84 Ankur Gupta 370 Ashiana Housing New Delhi 40 Residential

84 Varun Gupta 370 Ashiana Housing New Delhi 33 Residential

84 Vishal Gupta 370 Ashiana Housing New Delhi 43 Residential

84 Sejal Deepak Goradia 370 Dosti Realty Mumbai 50 Residential

88 Anad Mahindra & Family 350 Mahindra Lifespace Developers

Mumbai 62 Commercial

88 Dipakbhai kumar Govindbhai Patel & family

350 Ganesh Housing Corporation

Ahmedabad

49 Residential

88 Cyrus Pallonji Mistry 350 Tata Realty & Infrastructure

Mumbai 49 Retail

88 Shapoor Pallonji Mistry 350 Tata Realty & Infrastructure

Monaco 53 Retail

88 Bimla Devi Poddar 350 Ambuja Neotia Kolkata 82 Residential

88 Nand Kishore Gupta & family 350 Manglam Build Developers

Jaipur 60 Residential

88 Paul John 350 The Paul Resorts & Hotels

Bengaluru 51 Hospitality

88 Sunil Kumar 350 Asset Homes Cochin 48 Residential

96 Dinesh Krishnan Nair 320 Hotel Leela Venture Mumbai 65 Hospitality

96 Vivek Krishnan Nair 320 Hotel Leela Venture Mumbai 61 Hospitality

96 Surendra Kumar Dugar & family

320 P S Group Kolkata 57 Commercial

99 Hemant M. Shah & family 310 Hubtown Mumbai 64 Residential

99 Vyomesh M. Shah & family 310 Hubtown Mumbai 57 Residential

25

About GROHE

GROHE is the world’s leading provider of sanitary fittings and a global brand, dedicated to providing innovative water products. For many decades, GROHE has been committed to the brand values of technology, quality, design and sustainability that all illustrate GROHE’s commitment to creating exceptional experiences and to delivering “Pure Freude an Wasser”. With its engineering, innovation and design activities firmly anchored in Germany, GROHE products bear the badge of quality “Made in Germany”, ultimately strengthening the customers’ confidence in the brand. All plants of the GROHE manufacturing network make use of high-precision production engineering to ensure compliance with consistently high GROHE standards. This way GROHE ensures that its products live up to the most uncompromising demands in terms of workmanship and functionality. Over the past ten years alone, the success of GROHE has been confirmed by more than 280 design and innovation awards as well as several top rankings as one of “Germany’s most sustainable major companies”. Numerous high-profile projects around the globe are fitted with GROHE products, testifying to architects, designers and developers preference for the brand. GROHE is part of the LIXIL Group Corporation, a publicly listed company on the Tokyo Stock Exchange. LIXIL is the global market leader in the sanitary ware industry, managing a broad portfolio of well-known household brands such as GROHE, American Standard, and INAX. It is also Japan’s leading provider of housing and building materials, products and services.

26

About Hurun Report India Voice of Indian Entrepreneurship

Hurun Report is a leading luxury publishing and events group established in London in 1999 and strongly present in US, UK, China and India, widely recognised world over for its comprehensive evaluation of the world’s wealthiest individuals across the globe. Hurun Report Inc. has three main platforms: Hurun Research Institute, Hurun Digital Media and Hurun Conferences and Luxury Summits. Through each platform, Hurun targets entrepreneurs and high net worth individuals. Hurun Report India commenced its operations in 2012 and has been bringing to light stories of successful and emerging Indian entrepreneurs ever since and felicitating them at a bouquet of Hurun events hosted pan India. Hurun Report India’s flagship properties include the India Rich List, the Hurun India Real Estate list, the ground-breaking India Philanthropy list and the Hurun Global Rich List. A testament to the comprehensive nature of our list is the presence and association of numerous billionaires in each of our events in UK, China and as well as India –

- Sir Richard Charles Nicholas Branson, Mr. Wang Jianlin, Mr. Jack Ma (AliBaba), Mr. Lei Jun (Xiaomi), Mr. Li Yanhong (Baidu)

- Dr. Cyrus Poonawalla, Mr. Samprada Singh, Mr. Adi Godrej, Mr. Kuldip Singh Dhingra, Mr. Anand Burman, Mr. Kris Gopalakrishnan, Mr. Rajesh Mehta, Mr Divyank Turakhia, Mr. Abhishek Lodha, Mr. Yusuff Ali, Mr. Kochouseph Chittilappilly, Mr. Joy Alukkas, Mr. T.S. Kalyanaraman to name a few.

For further information, see www.hurunindia.net; www.hurun.net For media inquiries, please contact: Hurun Report India Anish Zachariah Mobile: +91 9702062671 Email: [email protected]


Recommended