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Considering the fact that the Indian Real Estate sector plays a major role in the nation’s economic growth, AsiaOne conducted research to study the effects of the COVID-19 pandemic on the sector. It was found that despite the pandemic, the top real estate brands have performed exceptionally well and have successfully turned adversity into opportunity.
The findings of the research culminated into the list of Top 50 Brands & Leaders by Wealth in the Realty Sector. Besides the major players, some emerging brands have performed exceptionally well and they are likely to occupy the top slots in the times to come.
AsiaOne Global Head and Principal Partner Rajat Raj Shukal says, “It’s very heartening to see the upward trend in the realty sector despite the global pandemic. I congratulate all the top-performing players! I especially appreciate the emerging brands which have turned the tide owing to their innovative approach and relentless determination. Overall, the realty sector holds immense potential and boundless opportunities for growth.”
AsiaOne List of Top 50 Real Estate Brands and Leaders 2020-21 by Wealth
AsiaOne List of Top 50 Real Estate Brands and Leaders 2020-21 by Wealth has been created on the basis of valuation of top real estate brands and leaders. Despite the fact that there might have been inadvertent omissions, the list is the most authentic attempt to identify India’s top real estate leaders and to measure their holdings’ value. The Listing comprises Pan India findings and regional findings.
Pan India Findings
Out of the top 50 brands and leaders at the Pan India level, Rajiv Singh, 61, of DLF Ltd., with a wealth of INR 42,163, has acquired the top slot on India’s Most Influential Real Estate Brands & Leaders List 2020-21. He is followed by Mangal Prabhat Lodha, 65, of Macrotech Developers Ltd. who registered a valuation of INR 31,968 crores and Chandru Raheja, 80, of K Raheja Corp Pvt. Ltd who possesses wealth amounting to INR 21,000 crores.
Mumbai
The financial capital of India, Mumbai is popularly known as the ‘City of Dreams,’ and is renowned for its architectural marvels such as The Gateway of India and The Bandra-Worli Sea Link. With a wealth of INR 31,968 crores, Mangal Prabhat Lodha, 65, of Macrotech Developers Ltd. (Lodha Group) occupies the number one slot in the Pan India list. He is succeeded by Chandru Raheja, 80, of K. Raheja Corp Pvt. Ltd. who possesses a wealth of INR 21,000 crores.
Delhi-NCR
Delhi NCR covers the entire National Capital Region (NCR) comprising the neighbouring cities of Delhi namely Gurugram (erstwhile Gurgaon), Ghaziabad, Noida, Greater Noida, Faridabad and Sonepat along with Delhi. The first spot on the list for Delhi-NCR has been occupied by Rajiv Singh, 61, of DLF Ltd. who possesses a wealth of INR 42,163 crores. He is followed Navin M Raheja, 65, of Raheja Developers Ltd. who possesses a wealth of INR 14,600 crores.
Bengaluru
Asia’s Silicon Valley, Bengaluru has been serving as India’s technology capital for over 3 decades now, and is renowned for premier R & D laboratories, academic institutions, and public sector focused firms. Encompassing a wealth of INR 19,589 crores, Irfan Razack, 67, of Prestige Estates Projects Ltd. has acquired the first spot on the list for Bengaluru. With a wealth of INR 19,421 crores, Jitendra Virwani, 55, of Embassy Office Parks REIT Ltd. comes a close second.
Chennai
Nicknamed the ‘Detroit of India’ for its auto industry, Chennai, the capital of Tamil Nadu, exhibits the architectural evolution over several centuries. The real estate sector in Chennai is ruled by young and ambitious leaders namely Manoj Namburu and Suneel Bommireddy of Alliance Infrastructure Projects Pvt. Ltd. & Urbanrise Projects LLP, who have acquired the top two slots. Possessing a wealth of INR 2,175 crores and INR 2,150 crores, respectively, the successful duo is also a part of the top 6 real estate achievers of Hyderabad.
Hyderabad
The fourth largest city in India, Hyderabad is popularly known as ‘The City of Pearls’ and ‘The City of Nizams’ and is renowned for the historic monument of Charminar. The first spot in Hyderabad’s realty sector has been occupied by Rameswar Rao Jupally, 65, of My Home Group who encompasses a wealth of 7,300 crores. He is followed by S. S. Reddy, 68, of Aparna Constructions and Estates Pvt. Ltd., who possesses a wealth of INR 5,200 crores.
Conclusion
With an estimated total size of around INR 12,24,000 crores, the Indian Real Estate sector plays a significant role in driving its economic growth. Despite the pandemic, the top real estate brands have performed exceptionally well and have focused on growth opportunities amidst the prevailing adversity.
Some emerging brands like Alliance Infrastructure & Urbanrise and Emaar India have been thriving, expanding their horizons and are likely to occupy the top slots in the times to come. The very fact that wealth creation in the sector continued to be robust, in spite of the challenges posed by COVID-19 pandemic, deserves a huge round of applause and is inspirational for other sectors to follow suit.
Source : Business Standard
