With INR 79,150 crore valuation, Indian Hotels Company Limited (IHCL), a TATA Group company, has become the third largest real estate company in terms of market valuation in India. The company’s valuation grew 43 percent in the last one year. The latest Grohe-Hurun India Real Estate 100 report 2024 has put IHCL/Taj Group of Hotels as the most valuable hospitality company in India.
Apart from IHCL, Taj GVK, a Taj subsidiary, with a valuation of INR 2050 crore has figured 74th in the list
With a valuation of INR 2 lakh crore, DLF with diverse real estate portfolio spanning residential, commercial and retail properties, secures the top spot on the 2024 GROHE-Hurun India Real Estate 100 post a growth by 72 percent in its valuation. DLF has ambitious plans, with projects worth approximately INR 30,000 crore set to launch in the fiscal year 2025.
At a current valuation of INR 1.4 lakh crore, Macrotech Developers has seen its valuation grow by 160 percent compared to last year, securing the second position in the 2024 GROHE-Hurun India Real Estate 100.
The other players who figure in the top 10 ranking of the 2024 Grohe – Hurun India Real Estate 100 list are Godrej Properties, Oberoi Realty; Prestige Estate Projects; Adani Realty; The Phoenix Mills; K Raheja Group; Embassy Office Park, in that order.
Claimed to be a golden year for the Indian real estate sector, as per the report, 86 percent of the companies which figured in the top 100 list this year have experienced a value increase which cumulatively added INR 6.2 lakh crore in additional valuation.
India’s most valuable real estate companies figured in the 2024 list have a combined value of USD 171 billion (INR 14.2 lakh crore) which the report claims is more than the combined GDP of countries like Oman and Sri Lanka.
Out of the 100 real estate companies figured in the 2024 most valuable real estate list, 72 percent are from the big cities of the country with 33 of them from Mumbai, followed by 15 from Bengaluru, 14 from Delhi, and 10 from Gurugram.
Talking about the report, Priya Rustogi, Leader, India & Subcon, LWT IMEA said, “Over the years, we have witnessed remarkable advancements within the Indian real estate sector, driven by visionary leaders who consistently push the boundaries of innovation and excellence. The latest rankings underscore the resilience and adaptability of these industry pioneers and their dedication to promote a sustainable and forward-thinking future for the sector. As we move forward, we are dedicated to supporting these leaders in their pursuits and are eager to see the continuous progress of the Indian real estate landscape.”
Anas Rahman Junaid, Founder and Chief Researcher, Hurun India said, “The 2024 GROHE-Hurun India Real Estate 100 confirms our prediction of breakout of Indian real estate brands post covid. An impressive 86 percent of the companies in this year’s list saw their values increase, collectively adding INR 6.2 lakh crore, showcasing the robust growth and dynamic recovery of the sector.”
“India’s real estate economy is firing from all cylinders! 2024 GROHE-Hurun India Real Estate list of India’s 100 most valuable real estate enterprises include companies focusing on residential, commercial, hospitality, and co-working spaces. India’s real estate sector is experiencing a remarkable boom, driven by a rapidly growing middle class, robust economic expansion, and increasing investments. With the middle class projected to reach 547 million by 2030, residential sales are expected to grow 10-12 percent in FY 2024-25. Rising foreign investments of around USD 4 billion yearly are further catalysing growth.”