The report includes a list of the nation’s wealthiest real estate investors. The figures for wealth and value represent a snapshot of May 31, 2024.
“We are extremely proud and honored to reaffirm our long-standing partnership with Hurun India for the 2024 GROHE-Hurun Indian Real Estate 100,” stated Priya Rastogi, Leader, India and Subcontinent, LWT IMEA. The Indian real estate industry has experienced rapid development, propelled by forward-thinking leaders who constantly push the envelope about creativity and quality. The most current rankings demonstrate the adaptability and tenacity of these industry pioneers and their dedication to promoting a progressive and sustainable future for the sector.
We are committed to helping these leaders in their endeavors and are excited to witness the ongoing development of the Indian real estate market. The seasoned professionals have our gratitude for their innovative ideas and brains.”
“The 2024 GROHE-Hurun India Real Estate 100 confirms our prediction of the breakout of Indian real estate brands post-COVID,” Hurun India’s founder and chief researcher, Anas Rahman Junaid, stated. This year’s list of companies saw an impressive 86% rise in their values, adding INR 6.2 lakh crore. This indicates the sector’s dynamic recovery and robust growth.
Government restrictions and slowing demand hinder China’s real estate market. India is quickly overtaking China to become Asia’s real estate capital, outpacing China’s growth rate, with 36 billion-dollar real estate companies in the 2024 GROHE-Hurun India Real Estate 100. India’s market benefits from a growing middle class, rising urbanization, and a youthful population. Furthermore, the Real Estate (Regulation and Development) Act’s (RERA) implementation has improved accountability and transparency, which has increased investor confidence. In contrast, China’s market struggles with excess supply, high debt levels among property developers, and strict government regulations, making India’s real estate sector a more attractive and stable investment destination.
India is experiencing a booming real estate market! Businesses with expertise in residential, commercial, hospitality, and co-working spaces are included in the 2024 GROHE-Hurun Real Estate list of India’s 100 most valuable real estate enterprises. India’s real estate market is booming, largely due to the country’s robust economic growth, expanding middle class, and rising investment. Residential sales are predicted to increase by 10-12% in FY 2024-2025, with the middle class expected to reach 547 million by 2030. An additional $4 billion in foreign investments annually are driving growth.
Although the report offers insights into the real estate sector, the following are some highlights related to the hospitality sector:
- In the 2024 GROHE-Hurun India Real Estate 100, Indian Hotels Company, also known as the Taj Group of Hotels, came in third place with a valuation of INR 79,150 crore, indicating a 43% growth.
- The Oberoi Group, headed by Arjun Singh Oberoi, came in at number fourteen with a valuation of 28,430 crore, or a 103% growth.
- The most valuable hospitality company is IHCL/Taj Group.
- Indian Hotels Company, Gera Developments, Oberoi (Hospitality), BCD, Macrotech Developers, and Skyline are among the 100 companies listed in the 2024 Grohe-Hurun India Real Estate 100 with a global presence.
- The most significant participant in Delhi’s real estate market is reportedly the Oberoi Group.
- Following residential and commercial real estate, the hospitality industry dominated the market. IHCL, Oberoi, and Lemon Tree were three of the top ten companies in the hospitality industry.
- Hotel Leela Venture, under the direction of Vivek Nair, came in fourth place with a 140% YoY growth. Ashish Jakhanwala’s Samhi Hotels came in second with a 129% YoY growth, and Patanjali Govind Keswani’s Lemon Tree came in third with a 111% growth.
- IHCL is the second-oldest company, founded in 1899; Oberoi Group, founded in 2010, is the fourth-oldest; and Samhi Hotel, founded in 2010, is the ninth-youngest.
- IHCL came in fourth place for debt reduction, falling from 1,388 crore in 2022 to 331 crore in 2023, with an overall debt change of 1,057 crore.
- With a debt-to-equity ratio of 0.03x, Hotel Leela Venture, Apeejay Surrendra Park Hotels, and IHCL had the second-lowest ratio.
- With 13,359 workers, Oberoi Group is the sixth-largest employer in workforce size, followed by Mahindra Holiday & Resorts India in ninth position with 5,262 workers.
- Two hospitality businesses from the 2024 GROHE-Hurun India Real Estate List 100 that went public in 2023 were Juniper Hotels and Samhi Hotels.