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Grohe Hurun India Real Estate Rich List 2018

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Grohe Hurun India Real Estate Rich List 2018 GROHE HURUN INDIA REAL ESTATE RICH LIST 2018 21 NOVEMBER 2018 Introduction Real estate sector in India is expected to reach a market size of US$ 1 trillion by 2030 and contribute 13 % of the country's GDP by 2025. Retail, hospitality and commercial real estate are also growing significantly, providing the much-needed infrastructure for India's growing needs. Sectors such as IT and ITeS, retail, consulting and e-commerce have registered high demand for office space in recent times. Commercial office stock in India is expected to cross 600 msqft by end of 2018. Hurun Report today released the GROHE Hurun India Real Estate Rich List 2018, the list of richest real estate entrepreneurs in India. This is the second time in the row, GROHE and Hurun Report have made a serious attempt to understand about the real estate entrepreneurs and to highlight their achievement through the rich list as a medium. The very rich real estate tycoons in India have grown wealthier in the past year. Their wealth increased to 27% compared to 2017, according to the latest GROHE Hurun India Real Estate Rich List 2018. 36 new faces in the list and almost 60% of the list are first generation entrepreneurs, further demonstrating the fact that the sector is still very “young” in India! Happy Reading. 21 November 2018 Mumbai 2 HIGHLIGHTS Mangal Prabhat Lodha (62) of Lodha Developers rises to the number 1 spot in GROHE Hurun India Real Estate Rich List 2018. With a wealth of INR 27,150 Crore MP Lodha’s flagship, Lodha Group is actively run under the leadership of Abhishek Lodha. Jitendra Virwani (52), of Embassy Property Developments secures the second spot with a wealth of INR 23,160 Crore With a wealth of 17,690 Crore, Rajiv Singh (59) of DLF is on the third spot With a fortune of INR 2,780 Crore, Renuka Talwar (62), daughter of DLF Chairman KP Singh, is the richest woman in GROHE Hurun India Real Estate Rich List 2018 3 cities- Mumbai, New Delhi and Bengaluru are home to 78% of GROHE Hurun India Real Estate Rich List 2018 9 women in the GROHE Hurun India Real Estate Rich List 2018 7 dollar billionaires in GROHE Hurun India Real Estate List 2018 Average wealth of GROHE Hurun India Real Estate Rich List 2018 is INR 2,366 Crore 60% of the list are the first generation entrepreneurs Average age of the individuals in the list is 59 With a net worth of INR 530 Crore, the youngest in the list is Kunal Menda (24) of RMZ with a net worth of INR 3,290 Crore the eldest is Prithvi Raj Singh Oberoi (89) of East India Hotels 4 individuals under the age of 40 and 4 above the age of 80 made to GROHE Hurun India Real Estate Rich List 2018 3 Table 1: Top 10 in GROHE HURUN INDIA REAL ESTATE RICH LIST 2018 Net Worth INR City of Rank Name Main Company Crore Residence 1 Mangal Prabhat Lodha 27,150 Lodha Mumbai 2 Jitendra Virwani 23,160 Embassy Bengaluru 3 Rajiv Singh 17,690 DLF New Delhi 4 Chandru Raheja 14,420 K Raheja Mumbai 5 Vikas Oberoi 10,980 Oberoi Realty Mumbai 6 Niranjan Hiranandani 7,880 Hiranandani Mumbai 6 Surendra Hiranandani 7,880 Hiranandani Singapore 8 Ajay Piramal & family 6,380 Piramal Realty Mumbai 9 Manoj Menda 5,900 RMZ Bengaluru 9 Raj Menda 5,900 RMZ Bengaluru Source: Hurun Research Institute 2018. GROHE Hurun India Real Estate Rich List 2018 With a net worth of INR 27,150 Crore, Mangal Prabhat Lodha, 62, is the richest person in GROHE Hurun India Real Estate Rich List 2018. He laid the foundation of the Lodha Group. MP Lodha is currently serving as the Member of Legislative Assembly. The Group is developing an estimated 31.8 msqft of prime real estate with large land reserves in the Mumbai Metropolitan Region (MMR). Lodha currently has 30 projects under construction covering 35 msqft, including a 117-story luxury high-rise in central Mumbai called "World One," with some apartments being designed by world-renowned designer Giorgio Armani. With a fortune of INR 23,160 Crore, Jitendra Virwani, 52, is considered South India's largest office space landlord. He is currently the chairman of the Embassy group and has been a pioneer in building industrial parks and warehousing spaces. He owns the Stone Hill International School, one of India's largest private owned academies. He is also a member of the equestrian federation of India. Rajiv Singh, 59, Vice Chairman of DLF Limited has a wealth of INR 17,690 Crore. He directs the strategy and oversees the operations of DLFs residential, commercial, retail, infrastructure, hotels and SEZ business lines. He has over 30 years of professional experience. Mr. Singh has been a Whole-Time Director of DLF Limited since November 16, 1988. In December 2005, he was awarded the Udyog Ratna Award for Valuable Contributions to Economic Development of Haryana. Mr. Singh is a graduate of Massachusetts Institute of Technology (MIT), USA and holds a degree in mechanical engineering. Chandru Lachmandas Raheja, 78, is the Chairman of the K. Raheja Corp with the net worth of INR 14,420 Crore. He established the brand Mindspace which was a venture of offices, malls and IT parks. He built Shoppers Stop, Hypercity and Orbit Malls which were known highlights of K. Raheja group. Now the K. Raheja Corp is known as a reputed and diversified construction company. He acquired four hotels in Mumbai in which three are handled by Marriott. 4 Vikas Oberoi, 49, a Harvard Alumnus who runs the Oberoi Realty, has a wealth of INR 10,980 Crore. He took over the reins of the company started by his father Ranvir Oberoi. His corporate strategy and diversification plan has seen a massive growth for Oberoi Realty in nine folds with a net profit margin of 40 %. Under his guidance, the firm has 22 msqft in progress and brands such as Ritz Carlton. Surendra Hiranandani(63) with his brother Niranjan Hiranandani(68) bought 250 acres land in Powai, Mumbai in 1985 and started a real estate business under the name Hiranandani Gardens. The brothers have net worth of INR 7,880 Crore each. Surendra has also plans for business expansion, he has brought land about 80 acres at Bangalore, 35 acres at Chennai and 20 acres at Hyderabad for the project in south India with a separate title House of Hiranandani. Through Piramal Realty Ajay Piramal & family has a net-worth of INR 6,380 Crore. Anand Piramal is the Executive Director of Piramal Group and founder of Piramal Realty. Anand Piramal was honoured with the ‘Real Estate Unicorn of the Year 2017’ by GROHE and Hurun India. Within 6 years Piramal realty has grown to become to one of the most respected real estate brands in India. Raj Menda, 56, the Co-Owner and serves as Corporate Chairman at RMZ Corp. Holdings Private Limited has a wealth of INR 5,900 Crore. Since Mr. Menda's tenure, he has transformed RMZ into a progressive, competitive and customer-driven organization. He has also served as Hon. Secretary of the Real Estate Developers Association - Confederation of Real Estate Developers’ Associations of India (CREDAI) and have had been on the Panel of the Jury of ULI Asia Pacific Awards for Excellence Program 2007. With a net worth of INR 5,900 Crore, Manoj Menda, 50, serves as Corporate Chairman at RMZ Corp. Holdings Private Limited. Mr. Menda, in his various capacities, has also served as the President, Chairman and Area Director of Young Entrepreneurs Organization, Bangalore Chapter, India and the Middle East. With a degree of MBA and Civil Engineering, Mr. Menda also serves as Corporate Vice Chairman at RMZ Corp. Kamal Shrigopal Khetan, 50, founder of Sunteck Realty, currently the Chairman & Managing Director of the company, has a fortune of INR 4,330 Crore. He has an undergraduate degree from Mangalore University. Targeting multinational firms, he opened a business centre at the Bandra-Kurla Complex (BKC) in suburban Mumbai, which has now become city's new financial epicentre. Biggest break was when his Sunteck won tender in 2006 for a residential project at BKC where land prices have since rocketed. 5 Where they live. By state, Maharashtra tops the list with 41 real estate entrepreneurs in the list, followed by Delhi with 22 individuals and Karnataka with 21 individuals. This year Delhi and Karnataka added 4 more to GROHE Hurun India Real Estate Rich List 2018. Table 2: GROHE Hurun India Real Estate Rich List 2018 by State Net Worth Rank State No of Individuals Richest Individual INR Crore 1 Maharashtra 41 Mangal Prabhat Lodha 27,150 2 Delhi 22 Rajiv Singh 17,690 3 Karnataka 21 Jitendra Virwani 23,160 4 Telangana 4 Rameshwar Rao Jupally 3,370 5 Tamil Nadu 2 M Arun Kumar, K R Anerudan 680 5 Haryana 2 Roop Kumar Bansal 1,990 5 Kerala 2 KV Abdul Azeez & family 650 5 Uttar Pradesh 2 RK Arora 510 Source: Hurun Research Institute 2018. GROHE Hurun India Real Estate Rich List 2018 By city, Mumbai leads with 35 individuals, followed by New Delhi with 22. Table 3: GROHE Hurun India Real Estate Rich List 2018 by City Net Worth Rank City No. of Individuals Richest Individual INR Crore 1 Mumbai 35 Mangal Prabhat Lodha 27,150 2 New Delhi 22 Rajiv Singh 17,690 3 Bengaluru 21 Jitendra Virwani 23,160 4 Pune 5 Atul Chordia 1,810 5 Hyderabad 4 Rameshwar Rao Jupally 3,370 6 Noida 2 RK Arora 510 6 Chennai 2 M Arun Kumar, K R Anerudan 680 6 Gurugram 2 Roop Kumar Bansal 1,990 6 Cochin 2 KV Abdul Azeez & family 650 10 Kolkata 1 Harshavardhan Neotia & family 1,880 10 Thane 1 Shailesh Puranik & family 370 10 Ahmedabad 1 Gautam Adani& family 2720 Source: Hurun Research Institute 2018.
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