Bad news for Gautam Adani, his wealth in this sector declines by 7% to Rs…, but he is still third richest individual in…
Despite the dip, Adani whose key projects include the Dharavi and Motilal Nagar redevelopments in Mumbai is expected to become the wealthiest individual in the real estate sector within the next five years, according to insights from Hurun Research and GROHE based on informal discussions.
At present, DLF's Rajiv Singh is the wealthiest on the Grohe-Hurun India Real Estate 150 list with a fortune of Rs 1.27 lakh crore and is followed by BJP leader and Maharashtra minister Mangal Prabhat Lodha with a Rs 92,340 crore wealth. What Hurun India's Report Say On Gautam Adani?
'Adani is very ambitious. Their ambition is to take over from DLF to be at the top in the next five years,' Hurun India's chief researcher and founder Anas Rahman Junaid told reporters. Grohe's leader for India Priya Rustogi also concurred.
Adani Realty, which is completely owned by the Adani family, is already the most valuable unlisted real estate company, Rahman said, adding that the researchers use a scientific way to assess wealth across the sector.
Lodha's wealth includes only that of his stake in the listed Macrotech Developers and excludes that of his son Abhinandan Lodha, Rahman said. Who Others Are Part Of Hurun India List?
The wealth of DLF's Singh grew 3 per cent during the year, while Lodha's was up by a tepid 1 per cent, as per the report. The top-10 individuals' wealth grew in single-digit percentages during the year except Bengaluru-based Raja Bagmane, who witnessed a 29 per cent surge to Rs 25,270 crore, and Atul Ruia's Rs 26,410 crore fortune that was up by 10 per cent.
The cumulative value of the 150 companies in the list grew 14 per cent during the year, slowing down from a 70 per cent jump in the last year. Each of the 150 companies is valued at at least at Rs 1,000 crore or above.
Valued at Rs 13,600 crore, city-based Schloss Bangalore led by Deepak Parekh, is the youngest company on the list which has notched the valuation within six years, while the 1871-born Peninsula Land is oldest with a valuation of Rs 1,000 crore.
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