Kumar Bahukhandi
Gautam Adani. (File)
In Mumbai, it is redeveloping the Dharavi slum sprawl in a platform where the Maharashtra government is a minor partner, and executing other large projects like Motilal Nagar
Mumbai: Billionaire Gautam Adani and family witnessed a huge 72 per cent jump in their real estate fortunes in a forgetful year for the sector, which saw a decline in valuations for most players, a report said on Tuesday.
Referring to Adani Properties, an arm of the Ahmedabad-based group, the ‘2026 GROHE-HURUN India Real Estate 150’ report said, “India’s richest (person), Gautam Adani, could be building India’s largest real estate business”.
The Adani Group has been present in the real estate business for many years, with projects across many cities.
In Mumbai, it is redeveloping the Dharavi slum sprawl in a platform where the Maharashtra government is a minor partner, and executing other large projects like Motilal Nagar.
Led by Pranav Adani and Rajesh Adani, Adani Properties added Rs 38,000 crore in valuation to Rs 90,400 crore last year, as per the report, which ranked Adani as the fourth-richest realty entrepreneur already.
In contrast, the report said the BSE Realty Index dropped 20 per cent, and only 31 of the 151 companies gained value while 74 saw a decline, in what the report termed a not-so-great year for the sector. The cumulative value of the top-150 companies grew by just 2 per cent during the year, it said.
Stating that the 2 per cent rise in overall valuations is the slowest in the nine-year-old list, Hurun India’s founder and chief researcher Anas Rahman Junaid said the list tells a story of a year “that cooled rather than cracked”, and that the performance of the newcomers, not incumbents, shows where the sector’s momentum has moved.
The list is led by DLF with a Rs 1.46 lakh crore valuation, followed by Lodha Developers with a Rs 93,700 crore valuation. Tata group’s hospitality venture IHCL comes a close third with a Rs 93,300 crore value, and Gautam Adani comes fourth.
Ritesh Agarwal-founded Prism or Oyo breaks into the top-10 to come fifth on the list with a more than doubling of valuation to Rs 67,200 crore.
The top-3 in the pecking order have remained unchanged since last year despite a decline in valuations, while Adani Properties, Oyo, and K Raheja Corp witnessed a rise, other prominent names, including Oberoi Realty, Prestige Estates Properties and Godrej Properties, ceded spots.
( Source : PTI )
