19 real estate companies in 2021 Burgundy Private Hurun India list of 500 most valuable companies

In one of the largest commercial office space deals in India during recent times, real estate major DLF’s rental arm pre-leased 7.7 lakh sq ft of office space to Standard Chartered GBS to set-up its largest office establishment at DLF Downtown located in Taramani, Chennai. The realtor is developing the Taramani project with a total investment of Rs 5,000 crore.

DLF, Godrej Properties and Macrotech Developers top the list of 19 real estate companies featured in the list released by Hurun India in coordination with Burgundy Private and Axis Bank's Private Banking Business on December 9.

As many as 19 real estate companies in India have made it to Axis Bank’s Private Banking Business and Hurun India’s first edition of the 2021 Burgundy Private Hurun India 500. The total worth of the 19 real estate companies is Rs 4.5 lakh crore.

“The real estate industry is expected to register a market size of $1 trillion by 2030. In that journey, real estate and prop tech companies in India would create significant value, which could result in the sector contributing more entrants to the Burgundy Private Hurun India 500,”Anas Rahman Junaid, MD and Chief Researcher, Hurun India told Moneycontrol.

Oil-to-telecom conglomerate Reliance Industries Ltd (RIL) has topped the list of 500 most valuable companies in the country.

Among the 500 companies that figured in the list, DLF is ranked 47 with an estimated valuation of Rs 1,02,577 crore; Godrej Properties is ranked 70 with an estimated valuation of Rs 66,245 crore; Macrotech Developers estimated to be worth Rs 47,906 crore is ranked 88, it said.

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Oberoi Realty is ranked 122 and is estimated to be valued at Rs 33,853 crore; Embassy Office Parks Reit is ranked 125 and is estimated to be worth Rs 33,523 crore; Bengaluru-based Bagmane Developers is ranked 149 and is valued at around Rs 27,600 crore; Mumbai-based Mindspace Business Parks Reit is ranked 201 and is estimated to be worth Rs 19,401 crore, the list said.

Bengaluru-based Prestige Estates Projects is ranked 218 and is estimated to be valued at Rs 17,353 crore; Mumbai-based Phoenix Mills is ranked 228 and is valued to be worth around Rs 16,448 crore; Mumbai-based Piramal Realty is estimated to be valued at Rs 12,000 crore and is ranked 283, according to the list.

Mumbai-based Runwal Developers is worth around Rs 11,500 crore ad is ranked 289; Bengaluru-based Brigade Enterprises is ranked 312 and is estimated to be valued at Rs 10,643 crore; Mumbai-based developer K Raheja Corp is ranked 391 and is valued at Rs 7,900 crore; Bengaluru-based NoBroker is ranked 407 and is estimated to be valued at around Rs 7,500 crore, the list said.

Bengaluru-based Sobha is ranked 420 and is estimated to be worth Rs 7426 crore followed by Hyderabad-based Aparna Constructions & Estates which is estimated to be worth Rs 7,400 crore. Pune-based Panchshil Realty is ranked 428 and valued at around Rs 7,300 crore; Mumbai-based Indiabulls Real Estate is ranked 435 and is estimated to be worth Rs 7,170 crore and Mumbai-based Sunteck Realty is ranked 456 and is valued at around Rs 6741 crore, the listing said.

These companies are ranked according to their value, defined as market capitalization for listed companies and valuations for non-listed companies. The cut-off date to arrive at this list was 30^th October 2021. This list refers to companies headquartered in India only; state-owned companies and subsidiaries of foreign companies are not included.

To make it to the 2021 Burgundy Private Hurun India 500 list, companies require to have a minimum value of Rs 5,600 crore, equivalent to $750 million. On an average, companies from this list were founded in 1982 and are worth a total of Rs 228 lakh crore ($3tn) today, up by 68% YoY.

Surprisingly, there has been no slowdown in a year dominated by Covid-19. Both the BSE SENSEX and NIFTY 50 rose by more than 50% YOY, whilst the S&P BSE 500 was up 69% over the same period last year, it said.

Also Read: 42 real estate developers on IIFL Wealth Hurun India Rich List 2021